Investing in a food truck is the perfect way to take your brick and mortar restaurant to the next level and grow your business. 19% of established restaurants say they are very/somewhat likely to launch a food truck within the next two years according to the National Restaurant Association. Between expanding the reach of your brand and providing a less expensive second location, taking your restaurant to the street can add many benefits to your bottom line.  Offering flexible locations and the ability to cater social events, food trucks offer a chance to reach new customers and expand your revenue base.

Expand your Reach

Having your restaurant go mobile puts your brand in front of a whole new audience.  A food truck provides a rolling billboard for your company while bringing in revenue.  The ability to attend events such as concerts and festivals are a revenue opportunity and entertaining.  This will give you exposure to new customers and also potential investors.  The easy turnover of a food truck menu will allow you to experiment with items that have a larger profit margin.  Festival foods tend to be cheaper to produce and the prices you can charge at a large event can be significantly higher than a standard location.  Attending and winning competitive cooking events becomes much easier as you are already prepared to travel. These events command extreme exposure to industry professionals and can establish you as an innovator in your field.  Having experience operating your restaurant out in the field can provide a substantial competitive edge over your opposition.

Lower Operating Expenses

Purchasing a food truck rather than a second physical location offers several different benefits.  The initial investment is much less and operating costs tend to be lower.  The time frame to get a food truck ready for business is far shorter and the kitchens are smaller and more efficient. Your food truck also allows you an additional revenue stream. Perhaps the restaurant is busy in the winter, and your food truck is busy in the summer. Running them consistently throughout the year will perhaps lead to a closing of the gap and no slow season for either business window.

Diverse Locations

Potential locations are limitless with a food truck.  Setting up your truck in different neighborhoods not only improves your customer reach. You have the option of posting up in different areas throughout the day to gauge customer response and revenue.  The ability to be on the move allows you to adjust your menu to fit the pallets and cultures of different surrounding areas.  This provides flexibility and a great way to test new recipes.  The feedback you receive from surrounding areas can be an invaluable tool for making improvements to your established menu.  Working with a more varied menu will further develop the skill set of your kitchen staff, which will breed innovation and keep you on the cutting edge of the industry.

Your Truck

Being in the food truck industry means you have to have a superb mode of transportation. It's imperative to have a truck that is reliable and maintained very well. In other words, a food truck can't break down before the ever-busy noon rush hour nor can its engine begin faltering as soon as customers arrive at the truck.  If the truck is maintained well, both internally and externally, then unforeseen costs can be avoided.  As customers seek out food trucks for superior products to the standard fast-food establishments, they'll likely surmise, or at least hope, that your interior is clean and the ingredients are less than a day old and fresh. When owning and operating a food truck, it is of the utmost important to keep the kitchen sanitized and spotless, which equates to the food not being contaminated, and potentially making the customers ill.  By maintaining a clean truck, equipment and food, the business won't have to pay for fines for failing to adhere to certain regulations, which can cost a company thousands of dollars annually

Funding Your Food Truck

Food trucks are becoming increasingly important in the growth and development of the restaurant industry.  Quikstone Capital Solutions has a proven track record of providing fast funding necessary for restaurants to thrive in an ever changing landscape.  A merchant cash advance could be the perfect avenue to getting your food truck, and your brand, on the road to success.  

Click below to download our Free Restaurant Investment Guide for more ideas to grow your businees.