The Advantages of Owning a Small Food Truck Franchiseby Franchise Word Franchise Industry Writer
So, you’re thinking about owning a local food truck? (We commend those thoughts!) Decisions, decisions. To this point, perhaps you’ve had big food truck ideas, not small food truck ideas. But before you write off the smaller option, let’s explore some advantages of going small from the start. Then we can get into whether a small food truck or big ‘ol truck is right for you and your business goals.
WHY OWNING A SMALL FOOD TRUCK FRANCHISE COULD BE A BETTER OPTION
You’ve heard it said that “bigger isn’t always better.” When it comes to starting a food truck business, that phrase couldn’t be more accurate! In fact, starting with a small food truck franchise could be a wiser decision for these reasons:
· It may be easier to get approved for financing when starting with a smaller franchise vs going at it alone or going big from the beginning.
· A smaller franchise investment could mean less financial risk for you as the owner. And who doesn’t like less risk?
· You may have an easier time finding the ideal location for your smaller food truck vs a larger one. This is especially true if you plan to park in tight spaces or areas with limited turnaround options.
NOW BACK TO THE FUN PART! SMALL FOOD TRUCK OR BIG ‘OL TRUCK?
Let’s say you decide that starting with a small food truck franchise is the way to go (we think it is). Now what size should the truck be? Here are some factors to consider when making your decision:
· Start-up costs – How much are you willing to spend on your new venture? Keep in mind that used trucks will likely have lower start-up costs than new trucks. Also, depending on the features you want in your truck, some small trucks could end up costing just as much as a larger one! Do your homework before making a purchase.
· Available space – Where do you plan to store your truck when it’s not in use? If space is limited, parking and storing a large food truck could present some challenges.
· Truck maneuverability – If you plan to drive and park your own food truck (as opposed to hiring someone else to do it), then you should consider how easy it will be for YOU to maneuver the vehicle. If parallel parking or backing up into tight spaces gives you anxiety, then maybe start with a smaller truck until you get more experience under your belt.
· Serving capacity – How many people do you want to be able to serve at one time? If your goal is to serve as many customers as possible in the shortest amount of time possible, then starting with a larger truck may make sense. However, if you would prefer a slower pace and more personal interaction with customers, then starting small may be ideal.
· Permits and regulations – In some areas, there may be restrictions on how large of a food truck can operate within city limits. Make sure to check with local authorities before making any final decisions on size.
WEIGH THE COSTS AND BENEFITS OF A SMALL FOOD TRUCK
Now that we’ve gone over some of the advantages of owning a small food truck franchise and things to consider when choosing the size of your vehicle, it’s time to look at some of the costs and benefits associated with each option:
Small Food Truck Costs:
Usually require less money for fuel
Might get better gas mileage than larger trucks
Easier to find parking spaces (could save on parking fees)
Might cost less money to insure Small Food Truck Benefits:
Less expensive to purchase
Easy to drive and park
Can navigate tight spaces
Can operate in areas where larger trucks are not allowed
Big Food Truck Costs:
Might require more money for fuel
Might get worse gas mileage than smaller trucks
Could have higher insurance costs Big Food Truck Benefits:
Can serve more customers at one time
Can carry more inventory/product than smaller trucks
SMALL FOOD TRUCK MAKES YOUR BUSINESS FLEXIBLE
One of the best things about owning a small food truck is the flexibility it affords your business. With a small truck, you can easily change locations if necessary without incurring too much additional expense. You can also take advantage of opportunities as they arise without having too much overhead weighing you down.
STARTING WITH A SMALL FOOD TRUCK FRANCHISE COULD MEAN A BIG FINISH!
While there are certainly advantages to starting big from the beginning, there are also many benefits associated with starting small and growing your business organically. With a small food truck franchise, you can minimize risk while still getting all the benefits that come with owning your own business!
Starting a small food truck franchise has many advantages over starting from scratch or going big from the beginning. These include lower start-up costs, easier financing approval, less financial risk, ease of maneuverability, and greater flexibility overall. When deciding what size food truck is right for you, consider things like start-up costs, available storage space, ease of maneuverability, serving capacity, and permits/regulations in your area. Whatever size you choose, remember that owning a food truck franchise is an excellent way to get started in the exciting world of mobile catering!
Created on Mar 10th 2023 00:15. Viewed 102 times.
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