Opening a food truck is a great way to break into the food industry. And with so many options to choose from, the possibilities are nearly endless. But even when you’ve decided on your niche, there are still a lot of other things you need to consider.

Financial Investment

While running a food truck is considerably less than opening a restaurant, costs can still add up fast. In fact, depending on the type of food truck you want, it’s not uncommon for costs to be well over half a million dollars.

Granted, it depends on the type of food you want to prepare and how sophisticated your truck is. Also, you need to factor in how much it will cost to maintain the truck, the price for food and supplies. You also need to think about your taxes.

Since owning a food truck means you’re self-employed, you need to consider how much money you need to set aside to pay taxes each year. Some people prefer to pay on a quarterly basis instead of only once a year. This way, the cost is less and it’s easier not to fall behind when taxes are due.

Location Matters

Your location is probably more important than the type of food truck you want to run. You need to be in a location that’s profitable and has a steady stream of foot traffic. People in urban areas, like New York, California and Chicago, usually do well when it comes to the food truck industry.

Food Prep Safety

Above all else, food prep safety needs to be a priority. In addition to having proper licensing and permits, expect random food safety inspections as well. You need to make sure that all food is kept at the right temperature, with raw meats stored properly and away from any fresh fruits and vegetables.

Note, that in addition to permits to just to set up shop, you will also need licensing from the health department in your area. A health inspector can tell you how to bring your food truck up to code.

Legal Permits

As with most types of businesses, you will need to have the right license to operate a food truck. Since legal requirements vary between states, it’s a good idea to check with your local government prior to buying a food truck. The last thing you want to do is to be shut down for not having the right type of license or permit.

Marketing Matters

Whether you run a 5-star Michelin restaurant or a hot dog truck, one thing remains the same. You need to promote your business online. Find out where your target market spends most of their time. Since you’re promoting food, Instagram is probably the best route to go.

People are drawn to visuals, so make your food truck as appealing as possible. Post quality food pictures as well as behind-the-scenes videos as well. Just remember to keep things authentic. People are moving beyond heavily curated images and want to see real pictures.

Also, make sure you list your food truck on Google. Even mobile food trucks can benefit from Google Business. This is especially true if you plan on keeping your truck in one location.

Food for Thought

When it comes to opening a food truck, know that it’s not always as easy. However, with forethought and planning, you can succeed. Make sure to do your research and have the appropriate licenses in place prior to opening day.