Food Truck

Startup Costs: $50,000 - $100,000
Part Time: Can be operated part-time.
Franchises Available? No
Online Operation? No

If the cost of opening a brick-and-mortar joint gives you heartburn, put your meals on wheels and go where the hungry people are! Not only is serving up your stuff to peckish people a satisfying way to spend your working days, but it is also a great way to make that other kind of dough — money. Grand View Research reports that the food truck business is a $1.2 billion industry and expects 6.4% growth in the coming decade. Sound tasty? 

How much money can you make with a food truck?

"If you’re a first-time entrepreneur, a food truck can be a much more affordable option than an actual restaurant. And for less than $100,000, someone can launch a food truck business that can make anywhere between $250,000 to $500,000."—Why Food Truck Businesses Are Revving Up (Infographic)

"In five years, St. Louis native David Choi went from having $18,000 in his bank account to running a $4.5 million Korean-Mexican fast-casual-food chain with four restaurants and a food truck enterprise."—How a Single Food Truck Helped Build a Multi-Million Dollar Taco Empire

What kind of experience do you need to have?

"I was familiar with Korean food from cooking with my mom and grandma, and I started making their recipes in a taco for my family. They thought it was weird, but my brother and two friends didn’t. They helped me raise $22,000. The first day we had a line of 40 people and ran out of food. I realized I had to rely on my experience from my teen years -- working at a pizza shop, sandwich shop, coffee shop, Chinese restaurant -- and replicate dishes at a rapid pace."—David Choi

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What’s the most important thing to know about this business?

"To succeed, you need to become cost-savvy. There’s no set formula, but as in any business, especially when dealing with food, you need to know what you're spending on the products you sell, whether it’s cookies, empanadas or steak. You don’t have to pay rent like a brick-and-mortar business, but you do have vehicle maintenance, kiosk space rental, parking permits and other costs that need to be factored into the equation."—Are You Financially Equipped to Run a Food Truck?

Related: Get the No.1 Guide to Starting Your Own Business

The Market

1787

Needed Equipment

1787