The emergence of food trucks is one of the numerous evolutionary shifts that the Indian food sector has seen. Despite the fact that food trucks have been there for a while now, the industry didn’t take off until a few years ago.
You may find food trucks serving a range of cuisines around the nation, from burgers and hotdogs to mouthwatering South Indian fare and, of course, our favorite Chinese food. Financing is one of the main characteristics that have fueled the expansion of this industry type. When everything is taken into account, a restaurant’s startup and operating costs are enormous. A food truck may, however, be launched for a total of around INR 9 to 10 lakhs, which is unquestionably an accessible amount.
But it’s undeniably a great idea to be a food truck owner. For this reason, a lot of people are unaware of all the requirements needed to properly launch and run a food truck. But just like any dreams, your food truck business may come true if you stay put and follow the instructions! We’ve covered all you need to know to start a food truck company on this account.
1. Select your cuisine
Making a decision about the kind of cuisine you want to provide is your first task. The food industry is separated into several groups according to the kind of food and the cuisine, just as other industries.
You’ll be headed for disaster if you don’t initially decide on your menu and cuisine. This choice impacts a number of factors, including the size of the vehicle, the potential site for your business, the kinds of equipment you’ll require, and many more. With the help of inresto’s restaurant management systems, you can efficiently manage your food inventory, prevent waste, and maximize your favorite menu items and cuisines.
The following well-liked culinary genres are ideal for a food truck business:
- American fare such as bagels, burritos, sandwiches, wraps, hotdogs, and burgers.
- Juices, drinks, shakes, and smoothies made with different fruits and vegetables.
- meals like idli, sambar vada, dosa, uttapam, and other traditional South Indian fare.
2. Recognize the differences in costs when launching a food truck
Capital is required for every new firm. The entire setup cost for a typical food truck is typically between 8 and 11 lakhs. However, the cost might go up to INR 16 to 20 lakhs if you want a food truck that is completely furnished with cutting-edge setup and equipment.
Let’s take a quick look at the price differential before we go any further so you can decide how much to spend on what.
- You may have to pay up to INR 2 to 2.5 lakhs for equipment such as kitchen stations, refrigerators, microwave ovens, and furnishings.
- Given that you must purchase a vehicle, your budget should range from INR 3.5 to 5 lakhs, depending on the truck’s size, features, and other characteristics.
- It will cost you between INR 15 and 25 thousand a month, depending on the quantity, kind of ingredient, and sales, to keep an inventory of the raw ingredients you require for cooking. To learn more about inventory management, see this link.
- You won’t have to worry about hiring costs if you are operating your firm on your own at first. However, hiring people will result in a monthly pay of around INR 15,000 to 20,000 per person. It is highly recommended that you bring on at least one employee to ensure efficient management. One can take orders, serve, and collect money while the other cooks.
3. Obtain the necessary permits for food.
You won’t be able to register your business and realize your goal without the necessary government permits. Thus, get ready to get the permits before you get too excited about the prospect of owning a food truck. The legal paperwork you’ll need to run your food business is listed below:
- If the yearly gross turnover of your firm exceeds INR 12 lakhs, you will need to obtain an FSSAI license.
- The Chief Fire Officer must issue a NOC as operating a food truck poses a fire hazard and puts everyone’s lives—including yours—in jeopardy.
- a letter of authorization from the local government in the location where your firm will be established.
- license for your car in order to register your food truck company with the authorities.
4. Select a suitable site for your food truck company.
You can’t put it up like an old-fashioned restaurant because it’s a truck. You must concentrate on the neighborhood and route where you intend to launch your food company. You must take into account the three most crucial factors while selecting the place.
- You should check with the local government for parking for your truck because a large space is necessary for any food establishment to run efficiently and provide meals to customers.
- Visibility is another element that will be important. Make sure the place you select is frequently frequented by large crowds of people. Because most people prefer to grab a quick lunch on the road rather than dining at a restaurant, this will help you generate more cash.
- You should research how to differentiate and simplify your marketing and customer service to attract and retain a devoted clientele in order to outperform your rivals.
5. Obtain the funding needed for the truck company.
If you are unable to raise the entire amount needed to launch your food truck business, you may be able to get assistance from other financial sources. A loan, for instance, might provide you with the money required to start the vehicle and get things moving.
6. Seek out brand advertising and development.
Finally, you need to sell your brand, and social media and ads are the best places to do this. Numerous businesses provide marketing and advertising services on the internet. Inresto’s marketing solutions may be integrated to streamline your marketing endeavors, including social media marketing, website customization, online delivery platform building for your restaurant, and much more. Your company will receive much-needed exposure as a result, and your clientele will quickly increase.