Starting your own business is rewarding. But if you don't have experience in the food industry, a food truck is a great option. To make this dream a reality, you need to accurately plan your finances. So, at Hispanos Emprendedores, we'll tell you : How much does it cost to open a food truck in the United States?
The first step is to develop the business plan so that you focus on the financial forecast. It seeks to establish how to meet the initial financing requirements and take a look at the previous costs. In addition to calculating how much it will grow in the first years.
How much does it cost to open a food truck in the United States?
In general, food trucks are cheaper to open than a traditional restaurant. The main expense is the truck itself. Prices vary widely. A new truck can cost between $50 and $175 . According to Forbes magazine, a used truck in good condition averages $70 to $80.
This includes remodeling and food preparation equipment. If you are willing to spend more than $ 100 you can get one with more accessories. It is key that you have it checked with a trusted mechanic so that you do not land every week in the workshop.
While initial costs vary from state to state , the type of truck you want to start up also plays a role, as preparation equipment varies.
There are also expenses associated with daily operations such as insurance, permits, and other fees. Another point to consider is the purchase of food and supplies, in addition to the payment of staff salaries. Other than the Food Truck POS System (between $ 200 and $ 1000), equipment maintenance and insurance.
In basic materials that include the ingredients to start the amount can rise from 1.000 to 2.000 dollars depending on the menu. For food truck specific utensils it would be around $300-$400. The teams would reach 10 thousand or 20 thousand.
According to the US Chamber of Commerce's Food Truck Index, an entrepreneur invests an average of $28.276 in permits and licenses per year. These legal requirements cover health, menu, management, vehicle requirements, food safety, prevention, employment, and zoning.
Cities like Portland, Orlando, Denver, Philadelphia, and Indianapolis are friendlier to start a food truck. On the other hand, Boston, Washington, San Francisco, Minneapolis and Seattle are more demanding in the procedures. Indianapolis has the lowest rates at $ 590 and Boston the highest at $ 17.066, followed by Seattle at $ 6.211.
Rent or buy the food truck?
Another aspect to consider is the convenience of buying or renting the food truck because it is the most important expense. Remember that a new truck on demand costs up to $ 150 and takes months to be ready.
For their part, the used ones generally have a price between 40 thousand and 80 thousand. These can be used immediately. Depending on the contract, the rental fee is established, but it usually ranges between 2.000 and 3.000 dollars a month.
Maintenance and fuel costs can reach $500 and $1.000 respectively . But, for example, Los Angeles has a regulation requiring diesel trucks up to the 2009 model year to replace their engines. This includes trucks weighing over 14 pounds. The requirement aims to reduce pollution and is being phased in until 2023. The investment would be over $10.000.
Most food truck operators rent space in a commercial kitchen to prepare or store food. Kitchen rental can cost up to $1.500 per month. In some states, this is a requirement for obtaining a food truck operating permit.
Associated expenses
Likewise, they need a place to park the truck. Many cities strictly regulate where to store the vehicle. The most viable option is rent, this varies between $ 500 and $ 1.000.
You also have to consider the insurance expense, it reaches $ 2.000 and $ 4.000 in annual premiums. This to cover civil liability, traffic accidents and workers' compensation insurance. While, with regard to the salary of the workers, he estimates to pay between 8 and 15 dollars an hour.
The fire extinguisher will add around $100 to $300, propane gas between $200 and $500, and the website around $1.000. Phone and internet will cost between $100 and $200 per month. So the average starting cost is $168.000 to $200.000.
Related Notes:
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