From Portland, Oregon to Portland, Maine, a bevy of budding restauranteurs and food entrepreneurs have caught the food truck bug. Rather than pouring their savings into brick-and-mortar outposts and going up against the daunting odds of success, they can open and operate a traveling outpost with lower startup costs and overhead.
But the business of operating a food truck is not without unique challenges, as Intuit’s infographic included below underscores. While traditional restaurants can cost between $125,000 and $500,000 to open, food trucks range between $30,000 to $80,000. But factors like fluctuating gas prices, truck maintenance and permitting costs can drive up the cost of keeping a business going. Additionally parking tickets, insufficient mobile storage and weather unpredictability are factors to keep in mind.
On a more uplifting note, the infographic highlights the “brand on wheels” aspect of food trucks and commends the social media-savvy reputation that food trucks have garnered. An overwhelming majority (85 percent) of customers who follow their favorite trucks on social media check for updates every week, it notes.