Starting a food business requires a lot of hard work and passion. From the thousands of people who venture into this business, only forty percent succeed in the first year. This might seem like a discouraging fact, but it is always better to be aware of the facts that make the food business a high risk one.
Whether you choose to start a food truck business or a regular restaurant, there are several challenges that both types of establishments may experience.
While building a sustainable food business, you will need to acquire skills & knowledge that will ensure you make profits & stay popular by keeping abreast with the trends in the market. While the overall challenges will remain the same, the scales tip in favor of food trucks when it comes to a chance at survival. Let’s see why:
- Minimal costs
The biggest advantage of opening a food truck is the minimal cost one needs to bear. You save on expenses such as high rentals, maintenance and manpower cost.
2. Master your operations
Starting a food truck requires close inspection and micro-managing the business, which is a huge learning experience for budding restaurant entrepreneurs. This not only helps understand customers but also helps in improving the operational success of a restaurant.
3. Easier to scale the menu
When you communicate with your customers regularly, it is easier to understand their preferences and update the menu accordingly.
4. The target audience is diverse
From college students to the working professionals, food trucks appeal to everyone owing to their informal nature and ease of availability. Weekends attract more couples and families, as it is a simple and affordable option.
5. Mobility increases customer base
On slow days, it is easier to go where the demand is rather than waiting for customers. Some food trucks also take on catering assignments at events, increasing their client base. If you follow a timetable, you can advertise on social media platforms and be available at fixed locations on given days increasing your geographical outreach.
6. Get gastronomically creative
When you have selective items on the menu, it allows you to get creative and design specialized menus, which could later become a USP for your brand.
7. Serve exquisite fare
As much as people love burgers, pizza and fries, it is the most common fast food available in the market. But when you serve exclusive items like steak or sushi at food trucks, it makes an exquisite fare easily available to people, boosting your popularity.
8. Cost for two? Easy on the pocket
Who doesn’t appreciate a good deal? With low infrastructure costs, food truck owners find it easier to pass on the benefit to their customers, becoming instantly appealing.
With the growing popularity of the Food Truck business, big chains and high end restaurants are also bringing their gourmet expertise to the street, making exclusive gastronomical delights available to this floating crowd at affordable prices.
Why do food trucks triumph over regular restaurants? The reasons are a plenty. For people planning to venture into the restaurant business, it might even be advisable to start with a food truck for its immense experience. It is a great learning ground in operational success, as it helps master customer service and also helps in understanding the market.