Setting up your own food truck business in an exciting time. As one of the top food truck manufacturers, Firefly would love to be a part of that excitement. However, as a small business ourselves, we know that there are times when it’s not all smooth sailing. We are passionate about providing honest, realistic and personalized advice to people launching a food truck or concession trailer. Here’s a short list of steps you can take to make sure you and your business are resilient enough to overcome unexpected obstacles.
Make a Plan for Your Food Truck Business
Who are your target customers? How will you sell to them? What food will you sell? What sets you apart from your competitors? Does your truck need to pass inspection and get a health permit to serve? How much can you afford to invest to make a profit?
If you’re starting a food truck business, writing out a business plan will help you answer all of these questions and more. A good food truck business plan will force you to think critically about what could go wrong and identify obstacles before you invest a single penny into your business.
Invest in Good Equipment
Making a smart investment in your food truck or food trailer is the single most important decision for any food truck business.
It’s important to know that states and local towns get to set the requirements for how a food truck is built and whether it needs to be permitted. Unfortunately this means that it’s possible for you to buy a used or even new food truck from one place that can’t be legally operated in another.
While a used food truck may seem cheaper up front, there is a huge risk that it will not be approved by your town. And even if it does pass your local inspection, a used food truck will end up costing you way more in repairs, lost business, and waste over the long run.
Choosing the right food truck isn’t only about having a profitable business, it’s often the the cause of a business failing before its even launched.
Get Food Truck Business Funding
Even if you have enough money to buy your custom food truck outright, you may want to consider getting a loan anyways. Holding some cash in reserve for a rainy day gives you peace of mind during good times and helps overcome unexpected obstacles during bad times.
Firefly recommends 5-star rated, broker National Business Capital to secure food loans. You fill out one application and they work with 75+ lenders to find you the best food truck loan. National offers a wide variety of loan types including equipment loans for small business owners with credit scores as low as 550. Check out our in depth article about food truck loans for more info.
Surround Yourself with Community
When your business idea hits a bump in the road it is easy to become disheartened. Keep hold of your vision and remember why you pursued your ideas in the first place. Rely on family, friends, business partners and your custom truck builder who can give encouragement and solutions on how to move forward.
Other food truckers are also a great resource… sure there’s competition, but it’s also a tight knit community full of people who are happy to help.
Finally, whether you need a little emotional boost or cold hard cash, reach out to your customers. If you build a loyal fan following, they’ll help out to ensure that their favorite food truck doesn’t stop serving.
Prepare for Obstacles
In order for your business to be successful, you need to be sensible about planning for, and overcoming, potential problems. Even the most successful of food truck businesses faces strain from time to time.
Firefly has lots of experience in the food truck industry building custom food trucks for both big international brands and new businesses. We can help you from start to finish from advising on the pros and cons of a food truck vs food trailer to providing food truck repairs once your business is on the road. Contact Firefly today for a free consultation and quote on your custom food truck or concession trailer.