One of the fastest growing businesses today is the food truck.
There are about 3,000,000 food trucks licensed in the United States. On average it costs about $40,000 (basic truck) to start up a food truck compared to $160,000 to start up a sandwich shop in a mall.
Is it profitable? Well, in 2011, the U.S. food truck revenue was $630,000,000, with Monday is their busiest day. But there is a cost. Average fuel costs are between $250-499/month (42/month% of trucks) and some over $500/month (32% of trucks)…the average driver spends about $360. As well, parking tickets for food trucks can run as high as $1,000!
And social media does work. 84% of people who follow food trucks via social media visit them at least once a week. The average price of food truck entrees are $6.33 compared to the average restaurants $14.09.
I may have to find a food truck to eat at today!