In this step, you’ll need to get into the nitty-gritty details of your finances. The costs involved in starting up a food truck can vary depending on the type of food and the area you’ll serve, among other elements.
Start-up costs can range from $28,000 to $114,000. The costs can include the food truck, cooking equipment, uniforms, etc. There are also recurring costs, such as payroll, gas, and insurance. So you can imagine, food trucks can carry a hefty expense.
This is why acquiring a solid funding source is pivotal. There are a few options you can try out. Crowdfunding is one of the more convenient options since it has a high return and low risk.
Getting a loan can also be an option. You might find it easier to obtain a loan for a business account. Nevertheless, investors will be your knight in shining armor. Securing them will not only give you financial backing but business experience as well.