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Here in this section discussing about the best Owning food truck
Food lovers with an entrepreneurial itch may not always be able to afford to start a brick-and-mortar restaurant right away.Not everyone will be able to afford that, but they may be able to start a food truck business.
After Take your favorite style of food on the road, and sell your culinary passions directly to hungry customers. Starting a food truck is a great small business idea for entrepreneurs with a taste for the culinary.
The owning Food Trucks Require Low Initial Investment
The owning Food Trucks Require Low Initial Investment This alone is a competitive advantage of running a food truck With an old truck and re-used equipment, you can set up your food truck in less than Rs 10 Lakh!blog
The best owning Food Truck Involves Relatively Low Operation Cost
If You hire a wide range of staff including cooks, cashiers, servers, kitchen managers, cleaners, etc.. Hence, it becomes impersive for you to keep your operations cost, especially the hidden costs are may be bleeding your restaurant dry.
The best owning Food Trucks Can Experiment with Location
The Restaurants rise and die with their location. Around 60 percent of new restaurants fail within the first year. It will nearly 80 percent shut before their fifth year of operation, one of the primary reasons being the poor location and high rentals. This is why you must choose wisely when going to a food truck or a restaurant.
Best Owning Food Trucks Allow You to Build (Or Expand) A Brand
You can build your brand at a smaller level before expanding into something more significant, such as a sit-down restaurant or possibly franchising your trucks. The confusion of a few restauranteurs between going for a food truck or a regular restaurants
The best owning Food Trucks Have Lower Staffing Costs
Due to space restriction, food trucks usually house a limited staff. Since food trucks mostly serve only fast food, their food offerings are fewer vis-a-vis a restaurant that may offer multiple cuisines. This brings down the cost of hiring multiple chefs. Besides, there are no requirements for hiring hosts and employees that wait/clean tables, unlike in restaurants.
Understand the cost differentiation of starting a food truck
Every startup business needs capital. Usually, for a standard food truck, the total setup cost is around 8 to 11 lakhs. However, if you want a fully equipped food truck with advanced equipment and setup, the price can increase up to INR 16 to 20 lakhs.
Before we move further, let’s take a glimpse at the price differentiation so that you can understand how much to spend for which purpose.
- For types of equipment like cooking stations, refrigerator, microwave oven, furniture, will cost you up to INR 2 to 2.5 lakhs.
- Since you need to buy a truck, you need to spend around INR 3.5 to 5 lakhs based on the truck’s volume, features, and other attributes.
- You will need an inventory of raw materials for cooking which will cost you around INR 15 to 25 thousand every month based on the amount, the ingredient types, and sales. Click here to know more about inventory management.
- If you are working independently at the start of the business, you won’t have to worry about the staff cost. But, if you hire a staff, their salary will be about INR 15 to 20 thousand per month, per person. We definitely suggest that you hire at least one person on board so that there is effective management. While one is cooking, the other can take orders, serve, and collect payments.
Get the required food licenses
Without proper licenses issued by the government, you will not be able to register your business and make your dream come true. So, before you jump with excitement at the idea of owning a food truck, prepare for obtaining the licenses. Following are the legal documents you will need for conducting the food business:
- If your business gross turnover is more than INR 12 lakhs annually, you will have to get the FSSAI license.
- NOC is needed from the Chief Fire Officer since owning a food truck means fire hazard, which means that people’s lives are in danger, including yours.
- Allowance letter from the municipality body of the area where you will be setting up the business.
- Vehicle license to register your food truck business with the government.
