The No. 1 Reason Why Food Truck Businesses Fail
Written on March 15, 2017
There are an endless amount of reasons why someone would want to enter the food truck industry. Unfortunately, there are just as many reasons why food truck businesses fail.
You might want to enter this fine industry because you have always wanted to be a chef, or because you have always wanted to own your own business, or because you see this industry as a great business opportunity, or because you think the food truck industry will lead to you opening up a sit-down restaurant, or everything above and in between.
No matter what the case, you likely have a great reason to join this industry. However, while purchasing a food truck might be a great idea (if you plan everything out, that is), it is also a big risk.
While some people decide to go with a cheap food truck, and we highly recommend you don’t follow those slippery footsteps, there are plenty of folks who go the smart route, the high-end route.
Some people sink in this industry because they aren’t passionate enough, and they don’t hustle as a result. Some people fall because they get a cheap food truck, and it ends up costing too much money to fix when it inevitably breaks down (and also hurts the business’ reputation in the process).
However, what is the No. 1 reason why food truck businesses fail in this fine industry? How about this: They aren’t business savvy enough. They enter the food truck industry thinking they are great cooks, and that might be true, but good cooking is all they know.
They don’t know how to make a business plan. They don’t know how to manage employees. They struggle in the inventory department. They don’t know how to market, whether it is on social media or a more traditional avenue. Speaking of social media, they don’t know how to use, or don’t even use, networks like Facebook and Instagram.
Here’s the deal, and it’s very important to take these words to heart: If you want to succeed as a food truck owner, not only do you have to be a wizard in the kitchen (the food is your No. 1 product, after all), but you also have to know how to run a business, and that’s the part where so many people come up short.
If you want to succeed as a mobile catering owner, then you need to know what it takes to succeed in the industry. Yes, you are going to be doing plenty of adapting and learning on the job, especially if this is your first business venture, but you have to do your homework before you even think about buying a mobile kitchen. You have to know what you are getting yourself into.
If you don’t know how permits, regulations and food truck rules work in your area, and if the concept of not being able to park wherever you want is news to you, then you aren’t ready to enter the industry.
In time, and with a lot of research, you can prepare yourself, but don’t just enter this industry because you want to cook food. Let that be your starting point, and then figure out how to run a business.
If you need more help when it comes to running a food truck business, then let the below articles be your guide. You can also venture over to our articles section. Good luck out there, and make sure to do your food truck homework!
Things To Consider When Buying A Food Truck
“Has most of your free time consisted of you browsing food trucks for sale in hopes of purchasing one and then finally entering the mobile kitchen industry? If so, you are certainly not alone, but there are some things you need to keep in mind.”
Ingredients You Have To Have If You Plan On Joining The Food Truck Industry
“The food truck industry is not for the faint of heart — you might have heard. There is no guarantee you are going to make it in this industry. If you do, then you can expect to work a whole lot of hours (depending on your situation, 60 hours a week might be the minimum). You have to really want to succeed if you are going to make it in this industry.”
“How bad do you want it? If the drive and motivation is there, then awesome! However, there are also other important ingredients you have to have if you plan on joining this industry.”
Don’t Let These Ingredients Go Under The Radar If You Are New To The Food Truck Industry
“First-time food truck owners are likely worried about many different things when trying to step foot in the food truck industry. It’s only natural. As a result, some key ingredients tend to go under the radar.”
“First and foremost, many mobile kitchen owners are worried about getting a good deal on a food truck, as they should be. They are also likely thinking about their recipes, menus, business plans, where they will actually set up shop (the location) and permits and regulations. Those are all very, very important when it comes to making it in the lunch truck industry. You can’t run your business without a truck and the food, and a food truck business owner would be lost without a business plan.”
3 Social Media Networks That All New Food Truck Owners Need To Be On
“If you thought you were just going to buy a food truck and cook food all day, then, well, you are terribly mistaken. Yes, that is going to be your main job — there’s no doubt about it — but you will have so many other duties on top of that when you finally break into the food truck industry.”
“For example, you are going to have to train — and manage — your employees. You will also have to set up catering gigs, and negotiate deals with prospective clients as a result. You will also have to run a business, because you are, in fact, running a business. Operating a kitchen might be the most important ingredient, if you will, but mobile kitchen owners have an endless amount of tasks and duties.”
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