Is food truck a good investment? Food franchises are among the most profitable, and food trucks are a good investment. Most food truck franchise owners generate close to or over six figures every year. Food trucks trends are taking off. The industry is worth millions of dollars and continued growth is expected.
Can you get rich owning a food truck? However, according to IBISWorld, profit for a food truck may be around 7.7% of your entire revenue, after accounting for overhead costs and wages. That means a food truck making $400,000 in sales each year would pull in just over $30,000 in profit.
How much should you invest in a food truck? You can expect to spend anywhere from $75,000 to $150,000 on a new, made-to-order truck, according to Restaurant MBA, and they take months to build. Used trucks generally cost between $40,000 and $80,000, and you should be able to start using them almost immediately.
Why do food trucks fail? Excess Cost of Operations. Most food trucks fail because they don’t get the cost of operation under control. Some owners enter the industry expecting food, labor, and the vehicle to be their initial costs. However, other expenses can slowly add up, especially if you do not have an established budget.