How to Start a Restaurant

 

Starving for a taste of the restaurant industry? Consider these tips for starting your own eatery.

• More people are eating out at restaurants, creating more profitable opportunities for business owners.
• Understanding the ins and outs of the restaurant industry is key to building a business that can stand out among the competition.
• Focus on giving customers an optimal experience at your restaurant to create a loyal customer base.
• This article is for anyone considering starting a restaurant.

Foodie entrepreneurs often dream of starting a restaurant and turning their passion for cuisine into profit. Of course, you know you’ll need to choose an appropriate space, create an appealing menu for your target customers, hire the right staff and promote your new restaurant before opening your doors to the community. However, there are many steps to take before diving in.

Starting a restaurant will give you a full plate of responsibilities, so before you open an eatery, you’ll want to ensure you’re prepared for every step. We talked to industry veterans who shared tips for navigating the business and launching a successful restaurant.

How to start a restaurant

If you believe starting a business in the restaurant space is right for you, consider the following tips to help you get started.

1. Do your homework before starting a restaurant.

In any industry, doing your due diligence before starting up is critical for success. This is especially true for the restaurant business, where simply knowing good food isn’t enough.

Joe Erickson, vice president of RestaurantOwner.com, said thousands of independent restaurants fail every year because owners are not prepared or aware of what needs to be done.

“Thoroughly research the financial metrics of a profitable restaurant, the systems successful restaurant owners use to promote consistency and predictability and the type of culture that will attract the best workers,” Erickson said. “[Potential owners] need to understand the challenges of restaurant ownership before spending their life’s savings.”

Even if you’ve worked in a restaurant, there are still many legal, managerial and marketing lessons to learn. For example, many would-be restaurateurs overlook local licensing and health regulations. Michele Stumpe, a Georgia-based attorney specializing in alcohol licensing and hospitality litigation, stressed the importance of knowing local and state business regulations in your restaurant’s location, especially since state and even county laws can vary. 

Stumpe advises aspiring restaurateurs planning a launch to factor in the time permitting and inspection processes will take.

Did You Know?

Before you can start a restaurant, you’ll need several business licensesand permits. These can include a food service license, building health permit and certificate of occupancy.

2. Get as much restaurant industry experience as you can.

Getting your bearings in the restaurant industry as a first-timer can be challenging. If you don’t have previous experience in the business, it’s essential to partner with or hire someone who does.

When Costanzo Astarita started his Atlanta restaurant Baraonda in December 2000, he and his partner had worked on the food preparation and management sides of the industry. Still, he didn’t know much about commercial leases.

“I wish I had understood how to negotiate them when I started,” Astarita said. “I think that any new restaurateur who is unfamiliar with commercial leases should hire a lawyer who specializes in that field.”

Tony Doyle, owner of Hells Kitchen Hospitality Group, has worked in restaurants since age 12 and opened several successful restaurants. However, he still had a lot to learn when he opened his first establishment.

“There were a lot of things I’d never dealt with before — employees, payroll, taxes, bank account management, etc.,” Doyle said. “You need to get a general knowledge of the working of the business before you start. There are a lot of issues that people don’t see.”

3. Choose the right restaurant location.

Choosing the right business location is crucial. Without a good location, your restaurant is doomed to fail, no matter how great it is otherwise. 

In the 30 years she’s been in business, Paola Bottero moved her Manhattan eatery three times before settling on her current location. Marco Pipolo, owner of New York City’s Marcony Ristorante, has learned valuable lessons from each of the five restaurants he’s owned, but one of the most important is that location can make or break your business.

Even with a mobile eatery, location can still present an issue. Daniel Shemtob, co-founder and executive chef at Los Angeles-based TLT Food, recalled a harrowing first day working on The Lime Truck.

“[My co-founder and I] were in the middle of nowhere — we didn’t have propane to cook and the truck wouldn’t start,” said Shemtob, who recalled having to hotwire the truck and wait for someone to come help them.

“Then there are other factors, like traffic,” he added.

Tip

A mobile restaurant POS system is a game-changer for a mobile eatery, letting you ring up purchases on the fly, offer fast checkout and stay on top of inventory management.

4. Be adaptable when running your restaurant.

While food quality and service consistency are crucial for success, the restaurant business is far from static.

“I have found over the years that you constantly need to be updating, renovating and evolving with the ever-changing taste of the public to be successful,” Pipolo said.

Shemtob agreed, noting that his menu is constantly changing to allow for newer, more innovative dishes. When you come up with your concept and menu, it should be flexible enough to adapt when your customers ask for something new.

5. Put your customers first to help your restaurant succeed.

Everyone knows a successful restaurant must serve delicious food. Still, many other factors contribute to your venture’s success — and most of them boil down to happy, loyal customers. If there’s one thing Bottero wishes she had known when she started, it’s that building customer loyaltyis challenging and takes time, even if your menu is top-notch.

“Customers make the place,” Bottero noted. “You have to earn their trust by making sure they’re taken care of and providing the best service possible. In today’s market, you also can’t succeed without social media. Good food is important, but so is good technology.”

Key Takeaway

running a gift card programto boost restaurant sales over the holidays, build brand awareness and appeal to new customers.

Pros and cons of starting a restaurant

If you’re thinking about starting a restaurant, consider the advantages and disadvantages to inform your decision and ensure you’re starting your venture with all the facts. 

The pros of starting a restaurant include the following:

1. People are eating out more often: A Popmenu studyfound that 58 percent of consumers are dining out more than they did in 2021. About 30 percent of consumers spend an average of $180 per week eating at restaurants. With more people turning to restaurants as a convenient, time-saving and, sometimes, cost-effective option, now could be a great time to start your venture.
2. You’re your own boss: While owning a restaurant adds significant responsibilities to your plate (pun intended), it also means you can structure and operate your business however you please. When you embark on your entrepreneurship journey, you determine your restaurant’s hours, the specials you’ll serve weekly and how to decorate your space.
3. You serve your community:Owning a restaurant can help you connect with the people in your local community in many ways. If you get pleasure from serving people, you can give your customers a quality dining experience that keeps them coming back. That can put smiles on everyone’s faces.

The cons of restaurant ownership include the following: 

1. There’s a lot of competition:The restaurant industry is very competitive. The annual growth rate among chain restaurants is expected to increase by 13.5 percent by the end of 2022. Smaller establishments might struggle to keep up with this competition, not to mention competition from other small restaurants.
2. Expensive startup costs: On average, the cost of starting a restaurant ranges anywhere from $175,000 to $750,000, depending on the size and type. Either way, starting a restaurant requires a significant upfront investment in your business. Business startup costs include location, materials, staff, restaurant equipment and many more expenses. It might take a while for your business to prove profitable.
3. High turnover rate: According to the Bureau of Labor Statistics, the restaurant industry has a turnover rate of 86.3 percent, the highest of all industries. Improving employee turnover at a restaurant can be a challenging feat. Many restaurant workers are teenagers and students looking to make money without committing to long-term positions.

Did You Know?

The restaurant industry generated more than $799 billion in revenue in 2021.

Getting off to a good start

Starting a restaurant can be an enormous venture, but with the proper steps, you can build a profitable business that keeps customers happy. 

As you start the process, consider your motivation. Are you looking for another source of income? Do you want your community raving about your new dish? Knowing what’s driving you can help you stay motivated during the long days and nights of working to build a successful business.

How to Start a Food Truck Business

 

The food truck business can be rewarding. If you've ever thought about making good meals on the go, this guide on launching a food truck business is for you.

• Ever wondered how to start a food truck business? It’s much like any other business when it comes to making financial projections, establishing a business plan, and acquiring the equipment you’ll need.
• Creating a business plan to account for the unique challenges specific to the mobile food vending industry is important as those challenges can result in higher costs than expected.
• Understanding where the demand is will be extremely important as day-to-day fluctuations impact the bottom line of a food truck.
• This article is for entrepreneurs interested in starting a food truck business.

Food lovers with an entrepreneurial itch may not always be able to afford to start a brick-and-mortar restaurant right away. Even with a lack of demand for established storefronts, the costs associated with renting and security deposits remain high in cities, and that is all before you start to brand the space for your food. Not everyone will be able to afford that, but they may be able to start a food truck business. This guide will explain how to start a food truck business and why it may be the best way to get your new restaurant idea off the ground.

How to start a food truck

A food truck is a mobile vending unit with a kitchen to make and serve food. They have been popping up across urban and suburban regions in the United States and are becoming increasingly popular. Many entrepreneurs opt for a food truck because the costs to secure a restaurant location are very expensive while food trucks are much more affordable. 

Before you forge ahead, here’s what you need to know about the startup costs, funding options, how to find a food truck and more. [Related Content: 10 Things to Do Before Opening a Food Truck.]

Food truck startup costs

Many factors go into determining startup costs for a food truck business. There are also one-time costs and costs that can vary by location. 

One-time startup costs consist of expenses like purchasing your food truck, a register or point-of-sale (POS) system, a truck wrap, website design, office supplies, advertising and public relations and any professional, legal or consulting fees. While this list is not comprehensive, it gives potential food truck owners an idea of some of the upfront expenses. 

“While we purchased the food truck itself for just $15,000, we didn’t realize that we’d spent more than double that to have it modified to fit the local fire and health regulations, which vary quite significantly depending on the municipality,” said Rachel Angulo, owner of La Cocinita food truck. 

Then, there are recurring costs, such as payroll, ingredient sourcing, generator power for electricity, equipment rental, credit card processing and, of course, fuel. Every new food truck business also has to obtain the proper licenses and permits, which vary depending on location. 

While the cost of starting a food truck business varies greatly depending on your specific situation, costs can range from $28,000 to $114,000 to get the business off the ground. This range is significant due to factors like the size of the truck, the number of people operating the truck, the hours of operation and other variable factors. Additional startup costs can be expected when launching, including: 

• Insurance: $1,000 to $4,000 per year
• Initial monthly product inventory: $1,000 to $2,500
• Payment processing: $200 to $1,000
• Commissary fees: $200 to $1,200
• Permits and licenses: $100 to $7500

Key Takeaway

While the cost of starting a food truck business varies greatly, costs can range from $28,000 to $114,000 to get the business off the ground.

Food truck funding options

Acquiring funding may be the biggest challenge you’ll face when starting a food truck business. 

Your first goal should be to put together a solid business plan. You should also have good personal and business credit, as this will increase your chances of receiving a business loan. 

There are other, more creative ways, too, to get funding for your new food truck business. 

Here are some ways to start your business with minimal funding: 

• Talk with someone who already owns a food truck and negotiate a lease or rental agreement.
• Start with a low-cost, used cart or trailer.
• Start selling at a farmer’s market, fair booth or pop-up.
• Talk to successful restaurant owners about running a food truck for the owner’s business.
• If your truck idea includes providing a public service or benefit to the community, then look to obtain sponsors.
• You may qualify for a loan advance if you already have a payment processor.

Create a food truck business plan

Every food truck owner should create and maintain a business plan. It should be the first concrete step you take when you decide you want to start a food truck business. This document is important to attract investors, gain funding and get your business up and running. 

A business plan for a food truck is structurally no different than the business plan for any other new venture. Every business plan, especially one for a food truck, should include the following elements: 

1. An executive summary: An executive summary is an introduction to your business; it should provide an overview of your business plan. The executive summary should be concise as the details will be discussed in other sections of the plan. 
2. Company description: This section should describe who you are and what defines you as a company. Describe what niche you are filling and why your customers will choose you over the competition. 
3. Market analysis: In this section, you explain who your target customers are, what their needs are, where they are located and how you will attract them to your business. Additionally, this section should explain how your business will impact the existing market and it should demonstrate your knowledge of the existing local food market. For a food business, it is more important to highlight direct and indirect competition; who are your competitors in the neighborhood that sell the same cuisine or sell to the customer base is important.
4. Organization and management: Next, you want to detail how your business is organized as a legal business entity, such as sole proprietor, limited liability company or partnership. List the owners of the company and their percentage of ownership. You also want to list key players, such as your management team as well as their experience, salary and prior employment. 
5. Service or product line: For a food truck business, your primary product is the food you serve. In this section, describe your menu and how you plan to attract new customers. Additionally, consider how your business will evolve and address new market needs. It is also important to plan for seasonality ― if you are thinking of selling food that is popular during the winter you need to consider the demand for that product during the summer and come up with alternatives.
6. Marketing and sales: In this section, you want to expound on your marketing strategies. Explain how you plan to spread the word about your business, identify all marketing platforms, such as social media, a website or paid advertisements, you plan to use and how you will gain an edge over your competition. This section must also include your sales strategy, such as menu prices, minimum sales requirements to stay in business and seasonal trends that may affect sales.
7. Funding request: This section is required for food truck entrepreneurs seeking investment funds or other types of outside funding. Specify how much money you are asking for and describe, in fine detail, how every dollar will be spent to grow the business. 
8. Financial projections: While it can be difficult to detail financial projections, especially for new businesses without a financial history, calculate how much money your business will make over the next three to five years. 
9. Appendix: Not every business plan requires an appendix, but it is a good place to include additional information that you feel is important to convey to lenders or investors. This can include anything from letters of reference to produce photos.

How to find food trucks for sale

Angulo found her truck on Craigslist back in 2011 and, while that is still a great place to search, there are many new resources out there, including: 

• Local online classifieds: This is a good option; used trucks are cheaper and if they are local, you can easily inspect them. 
• National online classifieds:This will open a lot more inventory but get as many details and pertinent information about the truck from the seller as possible since you most likely won’t see it in person before pickup. 
• New custom trucks: While this is the most expensive option, it is the best way to ensure that your truck is up to code and standards and that it can be customized to your specifications. 
• Leasing and franchising: You may be able to find a local truck to lease or from a national truck leasing company. Yet another option is to franchise a truck from an established company. However, among the drawbacks to consider are that you do not have control over the product, marketing or menu.

Here are some places to hunt for your ideal food truck:

• Roaming Hunger
• Used Vending
• Food Truck Empire

Mobile POS options

Most food truck customers are used to paying with cash but credit cards and mobile payments are popular. [Related story: Best POS Systems]

“We’ve always used Square and have been very happy with both their credit card processing and their POS service,” said Angulo. 

Below are a few options for processing sales, listed from the lowest-priced option to the most advanced.

Cash box and cash-only sales

• Advantages: Low-priced; you can purchase a lockable box for under $20
• Disadvantages: Doesn’t track sales or food inventory; you cannot process card payments
• Ongoing costs: None

Cash box + mobile card processor

• Advantages: Low-priced; mobile processors can simply charge swipe fees, but you’ll need Wi-Fi access and/or a good data plan to connect to the processing service
• Disadvantages: Most mobile processors include a simple inventory system and limited additional features
• Ongoing costs: Credit and debit card processing fees and mobile data fees

Cash box + POS system + mobile processing

• Advantages: Mobile credit and debit card processing, plus sales and inventory tracking
• Disadvantages: An additional monthly service fee and hardware costs
• Ongoing costs: Monthly POS service fee, card processing, mobile data service and possible hardware fees

Related Content: Guide on How to Accept Credit Cards

The advantages of a food truck business

• Business ownership:Numerous tax advantages come with business ownership and, while it is difficult to own and run a business, at least there is a little bit of relief on the tax front. 
• Freedom: Choosing menu items, the vendors you want to purchase from, your employees and the events at which you want to vend are just some of the freedoms you enjoy as a food truck business owner. You also have full control of your social media, marketing and schedule. 
• Mobility: Being able to bring your business to different locations based on demand during different periods of the day, days of the week, and so on, is a huge advantage, said Angulo.
• Virtual kitchen: With established brick-and-mortar businesses not always able to bring in supplemental revenue through virtual kitchens due to a lack of proximity to a large customer base, a food truck can house multiple brands if an owner is not brand attached.

The challenges of a food truck business

• Time: Long hours are the norm with a food truck business. With issues like shopping, prep, marketing, event booking, cleaning, truck maintenance, accounting and tax obligations, running such a business is more than a full-time job. 
• Competition and market:Carefully research your market to increase the chance of success ― you will most certainly have competition with other food trucks. 
• Ordinances and zoning: Every area is different in terms of where you can park your food truck and how long you can park there. Make sure you know the rules in each location where you plan on operating to prevent tickets and fines.
• Foot traffic: As a food truck is reliant on potential customers walking by, it can be difficult to plan for sudden changes in demand due to weather or with the hybrid schedule of office workers for example. 

Food truck permits and regulations

It is important to research the different areas you are considering for your business location and consider the necessary permits and regulations there.

Here are a few main things to look out for: 

• Food safety: You’ll need to comply with local food safety requirements, just like any other restaurant in the area. Contact the local health department to find out more information, such as if you need to prepare all your food in a professional kitchen or if you can use your own facilities. [Related Article:Small Business Guide to POS: Point-of-Sale Systems and Software]
• Seller’s permit: Some states require food truck owners to apply for a seller’s permit, which allows you to purchase food and equipment at wholesale prices without incurring sales tax.
• Zoning and parking: There may be restrictions on where you can park your truck; make sure you research that before setting up shop. There could be commercial versus noncommercial zoning restrictions, parking time limits or distance restrictions from other establishments. Your city and local motor vehicle department can help you.
• Vehicle license: Because your business operates from a vehicle, every driver must be properly licensed and trained to operate the vehicle. Depending on your state and the size of your vehicle, you may have to obtain a commercial driver’s license to legally operate the food truck.
• Fire certificates: If you’re using equipment on the truck to cook food, you will likely need to undergo a fire department inspection. The requirements for a fire certificate vary by state.
• Employee identification number (EIN): If you plan on hiring employees, you will need to apply for an EIN, which is a federal tax ID issued by the IRS to identify a business entity. An EIN also enables you to open a business bank account and start establishing a business credit history.
• Business permits and licenses:As with any business, you’ll need certain licenses to operate your food truck, including a doing-business-as (DBA) and a state sales tax permit, which is low-priced and easy to obtain. To form your business, check your home state’s requirements. For an easy option, try an online service like LegalZoom. To help you decide which legal structure is best for your business, read our guide on How to Choose the Best Legal Structure for Your Business.

Bring the restaurant to your customers with a food truck

Ultimately, whether you decide to visit different locations and communicate with your social media following or only operate on Tuesdays on one corner street, your food truck is a reference point for other people to follow. Leveraging your customer base by providing a high-level quality of food will be the only way to grow your customer base quickly to account for a variation in demand and sudden expenses. Catering orders are a great way to also bring in additional revenue after a certain period of time when you know that a specific weekend will see a significant drop in foot traffic.

Whether you are trying out your lifelong dream of selling sweet pierogies or want to see if pizza slices to go from trucks are scalable, your objective remains the same with an added twist ― every day you’ll be traveling your kitchen to your customers. That can be exciting but also physically draining and you’ll have to account for that every day you operate.

10 Things to Do Before Opening a Food Truck

 

Thinking about putting your restaurant on wheels? Here are 10 tips to help your food truck run seamlessly.

• Before opening a food truck, ensure the market isn’t already oversaturated with trucks offering similar fare.  
• When operated successfully and in the best locations, food trucks can make more than $100,000 a year.
• Food trucks are most successful when located near business districts, nightclubs and college campuses.
• This article is forentrepreneurs who are looking for advice on how to operate and run a food truck.

It’s no surprise that many aspiring foodie entrepreneurs are taking their restaurant ideas on the road. Running a food truck comes with its own requirements, complications and rewards. Food truck owners and small business experts shared their advice on starting a food truck. From choosing the right location to investing in the right technology, here are 10 things you must do before you get cooking.

Tips for opening a food truck

Invest in a good truck.

“If you have the startup capital, start building your truck in a newer, well-maintained vehicle. Your business will constantly be at the mercy of the mechanical soundness of your truck. Treat it with care, and give it lots of preventative maintenance. When your truck goes down, you have to deal with the expense of fixing it, in addition to not being able to be open for business during those days the truck is in the shop.” – Adam Sobel, founder, The Cinnamon Snail and author, Street Vegan (Clarkson Potter, 2015) 

Key takeaway: Be sure to buy an efficient vehicle that can handle the wear and tear that comes with running a food truck. It will save you money by preventing the expenses associated with fixing breakdowns.

Consider your potential customers.

“One important thing you need to do before starting a food truck is to think about what your target audience will be. Maybe you already have a certain food in mind that you want to serve –who will your food appeal to? What demographic are you targeting? These questions will help you with other important food-truck decisions, like what the style and design of your truck should be, what locations you should park at to reach your target audience, etc.” – Megan Marrs, founder and blogger, Boston Food Truck Blog 

Key takeaway: Before you hit the road, think about the target market for your truck, and keep those potential customers in mind when you are deciding on your food and your mobile restaurant’s style.

In need of a mobile POS system for your food truck? Check out our recommendations for the best restaurant POS system.

Prepare catering options, too.

“When starting a food truck, be prepared to focus your business beyond street service and into private-event catering. Food trucks are the perfect solution for catering public and private events, so plan ahead and make sure your menu and operating plan are set up for off-premise catering opportunities.” – Ross Resnick, CEO, Roaming Hunger 

Key takeaway: Develop a catering menu, as food trucks are commonly used to cater private events.

Get experience in the industry.

“Work in the industry before you start a food truck. Both my husband and I worked in restaurants before starting our truck, and [we learned] the food truck industry is its own beast. For example, a customer might wait 15-20 minutes for a dish at a restaurant, but on a food truck, you have to design a menu and train your team to execute dishes in less than 5 minutes – customers expect very fast service.” – Diana Lamon, co-owner, Peaches’ Smokehouse & Southern Kitchen 

Key takeaway: Before embarking on your food truck journey, make sure to hire staff with experience in the food industry, especially in preparing food quickly.

Think about technology.

“Consider the technology you’ll need to make your business successful. Running a mobile business is logistically very different from [running a] brick-and-mortar [operation]. You need a POS solution, for example, that’s flexible enough to go where you go, ringing customers up from inside and outside of your food truck. Furthermore, it needs to be reliable. If Wi-Fi goes down during a busy time, the technology you’re using needs to enable you to have off-line capabilities, so you don’t lose time and money.” – Chris Poelma, president and general manager, NCR Small Business. [If you’re looking for a POS system for your food truck check out our reviews on Toast and TouchBistro].

Key takeaway: With a mobile business, you need a quality point-of-sale system, along with other tools that allow you to run your business seamlessly. Take the time to think about the technology you need to make your food truck work the way you need it to. 

Make sure you have all your permits.

“Navigating all the regulations and requirements to run a food truck can be a challenging process. Be sure to research your city’s permitting and licensing process well in advance, because they can sometimes take months to secure. Also remember that permits can vary dramatically by city, county and state. So, make sure you know how different locations may affect your business plan.” – Danielle Custer, co-creator, Mobile Mavens

Key takeaway: Pay close attention to all of the permits and documentation you need to operate a food truck.

Test your concept.

“Once [entrepreneurs] figure out which route they want to take [with] their food, they need to know their customer segment really well: what they will pay, and how often; branding; how much to spend on a truck. [This] all falls in line with what they choose to do. [If you have] cheap branding but good food, [you] can get away with being a cheap lunch truck, but really nice branding and a good-looking truck will be essential to one-time customers. One can never know how people will respond to a concept, but ample market research and testing your food with friends, foodies, industry experts, etc. can really help evaluate a concept.” – Ian So, owner, The Chicken & Rice Guys 

Key takeaway: Before you start a food truck, do your market research and map out how much you’re going to spend on different aspects of your business.

Get social.

“I think the one thing that a person must consider before opening a food truck is how to use social media to promote it. One must get to know the best social media ways to spread the word about a food truck and get a basic understanding of social media. There are many ways to do it, such as Instagram, [where you’re] uploading photos of foods and locations; Twitter, [where you’re] tweeting locations with a specific hashtag so it will be easy to find; and, of course, Facebook, so people know where to find up-to-date information. A mailing list would be a creative way to start and keep a relationship with customers, as long as the email would only be sent once a week with a list of locations.” – Keren Brown, social marketing strategist and author, Food Lover’s Guide to Seattle (Globe Pequot, 2011) 

Key takeaway: When you have a food truck, social media is the best way to get the word out and let hungry customers know where to find you.

Choose the right locations.

“The three rules of real estate apply to mobile food service: location, location, location! If there isn’t a critical mass of people circulating in the vicinity of your truck, you won’t succeed. Even with that critical mass, it’s important to have a set schedule so that people can count on you for their meal. While you may get some casual passersby, many folks have planned their meal in advance and want to be able to count on their vendor to be open, just as they rely on a brick-and-mortar restaurant.” – Jason Savedoff, principal consultant forFilament Business Advisors 

Key takeaway: Location is very important when you are choosing where to park your food truck. Make sure you’re in a spot filled with passersby traffic.

Make sure you’re ready.

“The old saying, ‘To thine own self be true,’ couldn’t be more important when starting a food truck. First, ask yourself if you are ready for this kind of commitment. I’m up and out at 6 a.m. every morning, working until 10 or 11 every night, nonstop. It’s the food life and a constant hustle. Be ready.” – Kent Graham, owner, Field Dog Kitchen

Key takeaway: Like any business, a food truck takes a lot of work. Before committing, make sure you’re mentally and physically ready for the effort it requires.

Editor’s note: Looking for the right POS system for your business? Fill out the below questionnaire to have our vendor partners contact you about your needs.

Food truck business FAQs

How can I make my food truck successful?

Doing the necessary prep work is the most important part of putting your food truck in the best position to succeed. Research the area you want to be in. Ask yourself, is it a good location for a food truck? Is it a city that’s filled with a lot of people? Think about what you’re offering. Do several other food trucks in the area serve the same cuisine? To have a successful food truck, plan ahead to make sure you’re setting up your business for success.

Do food trucks make good money?

A food truck can bring in a lot of income, but the key is to stick with it for the long haul. According to a FoodTruckEmpire.com survey of 200 U.S. food truck vendors, the average annual gross revenue was more than $100,000. So, depending on your costs, it can be a profitable business, but it’s important to buy quality equipment for your vehicle so you don’t waste money on fixing things, which can eat into your profits.

Where are food trucks most successful?

For food trucks to be successful, they must be in high-foot-traffic areas. Street parking near construction sites or malls are great locations, but there are also designated areas for food trucks, called food truck parks. If you decide to operate in a food truck park, it is important to consider the specific spot where you set up. For example, if you’re a grilled cheese spot, try not to set up shop near another grilled cheese truck; instead, rest your wheels between a sushi truck and an empanada truck. Parking in business districts, near nightclubs and on college campuses is also an easy way to run into swarms of hungry customers.

Why do food trucks fail?

A lack of research and planning is a big reason some food trucks don’t make it. It’s important for your location and your brand to support each other. Another reason for failure is that food truck operators often enter an already crowded market. Remember that you’re competing against not only other trucks but also restaurants serving your same cuisine. Check out the competition beforehand, and be prepared to explore different food offerings if your city already has several established food trucks serving what you had originally intended to offer.

What equipment is needed for a food truck?

Other than the truck, you will need equipment for cooking, food prep and serving. These items may include microwaves, toasters, grills or fryers, depending on what you’re making. You will also need utensils, plates, cups, pots, pans, skillets and/or blenders. Cleaning and janitorial supplies are also essential.  For a full list of food truck items you may need, check out webstaurantstore.com.

What value does a food truck bring to a community?

In some ways, a food truck is only as good as the community around it. When done right, it can also be a major boost to a neighborhood’s economy. Street food can increase tourism and cause more foot traffic. It can also introduce different cultures and cuisines, which can add diversity to a community.

13 Business Ideas for Couples

 

While it might not be right for everyone, running a business with a significant other can be a dream come true.

• A coffee shop, e-commerce business and travel agency are among the many ideas for businesses you can start with your significant other.
• Combine your skills and interests with your partner’s to land on an idea for your new business.
• Starting a business with your significant other can help improve your communication, foster deeper mutual respect, and strengthen the bond between you.
• This article is for couples who want to start a business together and are looking for ideas.

Though starting a business with a significant other wouldn’t be ideal for some couples, for others, it could be a dream come true. In fact, your bond may make you excellent business partners.

It’s possible that working with your partner could distract you from business concerns or strain your relationship. However, it could just as easily bring you closer together while doubling your passion for success. If you and your significant other handle conflict well and motivate each other, consider turning your talents into a business.

Business ideas for couples

Starting a business can be easier for a two-person team. As with any partnership, the following business ideas work best when each person takes on a role that fits their skills and strengths. Like all business ventures, an entrepreneurial relationship is a labor of love. 

Here are 13 businesses you and your partner could start together:

Catering company

Some couples fight over who should cook dinner. For others, preparing a meal together is a bonding activity. If you and your partner fall into the latter category — and are good cooks — consider starting your own catering business. Let the resident gourmand cover most of the food prep while the other serves as a customer service rep and sous-chef. 

Did You Know?

Starting a catering company is also a green business idea if you add an organic twist and focus on sustainable business practices.

2. Coffee shop

Sometimes, socializing with the public is what couples need to work together successfully. If that sounds like you, consider opening a small coffee shop. A coffee shop doesn’t require much space, and a limited menu lets you focus on high-quality or specialty items without stretching yourself thin. 

One of you can spearhead customer service while the other focuses on the coffee. Consider hiring employees and a manager so you can schedule days off together when business is steady. 

3. Food truck

If you’re foodies who love to travel, consider starting a food truck business. Whether they set up shop at music festivals, block parties or private events, food trucks are a great way to make extra money while traveling and meeting interesting people. The freedom of the open road and the appeal of their favorite activities has led many food truck vendors to start such a venture — and doing so with the person you love might be even better.

Tip

Before opening a food truck, invest in the right vehicle, pinpoint your target audience, finalize your menu, and consider offering a catering option.

4. E-commerce business

Crafty couples with a passion for DIY projects can start selling onlineby creating an Etsy shop or launching a shop on platforms like Amazon Handmade or another Etsy competitor. 

One of you can handle marketing while the other handles customer service; both of you can fill orders. E-commerce represents a money-making opportunity and offers you and your partner a chance to be creative together. What’s better than having fun while turning a profit?

5. Online resale

Perhaps you and your partner love shopping together. You may come across valuable items you can resell in a niche market. If you enjoy looking through garage sales and thrift shops and are knowledgeable about antiques or vintage items, consider starting an online resale business. Antiques, old toys and comic books are just a few examples of items that might catch a potential shopper’s eye, especially online.

Start by opening an online store through social media platforms like Facebook Marketplace or a site like eBay, where you can advertise your items locally. If your business grows, consider expanding into a brick-and-mortar location.

6. Fitness instruction

If you’re a couple that runs and hits the gym together, launching a fitness business could be right for you. Whether you’re interested in personal training or class instruction, you can become certified through organizations like the Athletics and Fitness Association of America and begin accepting clients.

If you and your partner specialize in the same area, you can double the number of sessions or classes you book. Alternatively, if one of you is a personal trainer and the other teaches a class, you can expand your client base through your service variety.

Tip

Looking for even more ways to start a business? Dig into these other great business ideas.

Benefits of couple-based businesses

Starting a business with your significant other can be risky. It’s important to remember there are bound to be good and bad times. And, as with any other relationship, a business partnership requires a lot of work. However, it can also bring advantages for your entrepreneurial venture and growth as a couple. 

Here are a few potential benefits of running a business as a couple:

• Better communication.Improved communication is an automatic benefit of working as a couple. Whether you’re figuring out your business’s launch or working through daily operations, communication is your most valuable tool for succeeding as a business couple. Excellent communication will help you define your roles and responsibilities and accomplish your short- and long-term goals.
• Deeper respect. Starting a business and working together can lead to a new appreciation and respect for each other, both personally and professionally. Few things are more empowering than understanding each other’s priorities and goals. 
• More flexibility. The ability to easily plan time off together is a great benefit of working as a couple. When you don’t have a business together, you must switch around dates with other co-workers to get your vacation times in sync, which is stressful and time-consuming. By working as business partners, however, your vacations’ timing and length don’t rely on other employees and company restrictions.
• Stronger bond. Your successes will mean a lot more if you’re celebrating with your partner, considering the effort and time both of you invest in your work. Relating more to each other through your job will make those victories much sweeter and your time together even more special.

Strong partnership, successful business

Starting a business with your partner can be an exciting and fulfilling venture. You’re combining your individual skill sets and interests while working toward a common goal of running a successful business together. 

Now that you have several ideas to consider, take one and add your creative touch to it. With a positive mindset and the determination to overcome any obstacles, you and your partner can enjoy the many rewards of going into business together.