Every corner has a food truck, either serving people during lunch or as part of a fleet that serves festival goers. Their popularity is increasing, and you are becoming more interested in them, as evidenced by the fact that the food truck industry is now a $2 billion industry. Modern business owners bring inventive food to their clients wherever they are by rolling their stoves.
It seems pretty simple to talk about a food truck’s price, right? Not quite, there are a few different ways to discuss the price of a food truck if you break it down. Renting a food truck for a special occasion like a wedding comes first. Another expense is purchasing a food truck and paying for its upkeep. That much is undoubtedly a lot.
You will discover the desired answer if you read on, so don’t worry.
How Much Does It Cost To Rent A Food Truck?
According to New York Street Food, you should budget between $20 and $25 per guest if you’re thinking about renting a food truck for a special occasion. The average cost of wedding catering is $68 per guest, so in addition to being a fun, non-traditional substitute for dinner, it can also save you a ton of money.
However, keep in mind that prices vary from city to city, and given how expensive New York is, chances are you can get by in other places with less. Depending on the food truck, prices also differ. A barbeque truck, for instance, will be much more expensive than an ice cream truck. It matters how many hours you rent it for, as well as how many staff members you request to go with you. Beverages, whether alcoholic or not, and parking costs—some spots cost more to park in than others—are additional considerations.
Cuisines Helps Decide How Much It Is To Rent A Food Truck
For your party or other gathering, you obviously want the best food truck available at the most affordable price. There is a minor issue—which option do you select? There are many different food options, including everything from burgers to seafood to grilled cheese. Which is advantageous to your gathering? It’s important to decide what kind of cuisine you want because you wouldn’t order burgers from a seafood truck and vice versa.
Determining Cuisine
Prior to beginning your search and getting in touch with any trucks, figuring out the type of cuisine is VERY crucial. As a former truck owner, I can assure you that nothing is worse than having a customer come up to the window who has no idea what the truck even does.
Typically, disappointment follows. The customer either feels that speaking to the truck was a waste of their time or they settle for something they didn’t want, leaving them with a negative impression of the truck (no pun intended). Making a choice about the type of food you want in advance will help you to easily solve this problem.
Food Truck Websites
There are numerous websites that can assist you in selecting your cuisine. To do this, you must be aware of the search terms to use and click around on each and every food truck owner’s website (assuming they have one) until you find what you’re looking for.
As was already mentioned, if you live in the Savannah, Georgia, area, you can search through a directory like Savannah Street Food. On this kind of website, you can conduct a search based on your criteria right from the home page. It’s simple to find what you’re looking for, regardless of the cuisine, locale, or business name.
You can also find trucks in your area by visiting a number of other websites. Roaming Hunger or Foodtrucksin are two examples. These websites don’t just focus on Savannah and its environs; they also cover locations across the entire country.
Buy A Food Truck: How Much Cost?
The Balance explains that a basic food truck with few frills can cost as little as $30,000 to $40,000, but that you get what you pay for. Despite the fact that food is frequently the main attraction, a food truck is fundamentally just a truck. The who idea depends on its mobility, so you want to be sure it’s trustworthy.
In order to avoid having to stop operations in the middle of a lunch rush, it’s crucial that your truck is dependable for your company as well. When all of these factors are taken into account, a reliable truck will actually cost you between $50,000 and $70,000, with the price rising to close to $100,000 if you choose a brand-new vehicle.
Run a Food Truck: How Much Cost?
The ongoing operating expenses for a food truck should be taken into account after you have your wheels. Food Truck Empire asserts that leasing a mobile kitchen is frequently viewed as being more expensive than using a food truck. If you don’t prepare for them, however, a variety of expenses related to operating a food truck may sneak up on you.
You might be required to use a commissary, which can cost anywhere between $400 and $800 per month, depending on the laws in your city. Then there’s insurance, which can easily cost $2,000 to $4,000 per year. There are license and permit fees to think about, just like with any other business.
How Much Time Will You Need Your Truck?
For how long do you need a truck at your event? Having the truck there for more than 30 minutes is necessary if 175 people are expected to attend your event. A lack of time would prevent everyone from receiving service.
According to my observation, trucks typically operate during a 2-hour window, with additional hours incurring a lower hourly rate. Take the following scenario as an example: You want to reserve your taco truck for an event that will last about 4 hours and will have 175 attendees. The truck may advertise a rate of $20 per person for the first two hours and $10 per person for each additional hour. The truck might just forgo charging extra for additional hours if the party is large enough.
Factors That Affect Food Truck Rental Prices
Type Of Event
Corporate Events
More than anything else, the cost of catering will determine the price of corporate events. The cost per person will usually go up or even double if you’re hosting a big event that calls for more than one food truck.
In order to offer more variety, especially for significant company parties, many of our corporate clients rent more than one truck.
Private Events
The cost will vary from a private party if you’re looking to rent a food truck for your wedding. Although pricing will be higher than usual for weddings due to their logistical complexity, it will still be significantly less expensive than traditional wedding catering, as you can see below.
According to the Knot, the average cost of catering a wedding in 2020 is $70 per guest. The cost of catering will be reduced to $25–$45 per person by renting a food truck. The total cost of renting a food truck will be $3,750–$5,250 rather than the customary $10,500 if you have an average wedding with 150 guests.
Party Location
A food truck’s rental price also depends on its location. Major cities like New York and Chicago fall under the category of expensive because running a food truck there is more expensive due to city regulations. Prices will be higher than the national average in a city like Los Angeles, but they will also vary depending on the distance a truck must travel and the type of food it serves (hiring a taco truck will be less expensive than getting a fusion truck).
Prices will vary depending on supply if your event is in a rural area or a city that prohibits food trucks. Typically, food trucks won’t travel great distances unless there are additional costs involved.
The location of the party itself is yet another crucial factor to take into account when renting a food truck. A city permit might be necessary for a public area, whereas sufficient space must be provided on private property for the truck to park and operate. Consider a different catering option, like a tent or pop-up, if your space is limited. These services will be offered by many food trucks, but there may or may not be a difference in price.
Additionally, food trucks are subject to zoning and parking restrictions in many cities. A typical prohibition prohibits parking a food truck close enough to a restaurant to be considered close proximity. Make sure the food truck can park legally at your venue if your event is close to other eating places.
Food Truck Brand
The popularity of the food truck you wish to hire for your event is a crucial consideration. The Kogi Truck, for instance, is the most well-known food truck in Los Angeles. For regular hours, their party catering minimums are $1,250 ($1,500 for Saturday service). The extra 15% service charge is not included in the price.
Date Of Your Party
Additionally, as we alluded to above, costs will change depending on the date of your event. Popular holidays like July 4 see a spike in truck bookings and corresponding price increases (especially for last-minute reservations). As you can see from the Kogi illustration, Saturdays can occasionally be more expensive.
Remember that food trucks also have regular operating hours. The truck will be open for lunch and dinner, and a typical food truck catering will last two hours. Some trucks will raise their minimums if they have to stay longer than two hours or if the event is taking place at night.
Ways To Start A Food Truck Business
Do Your Research
Discover more about your target market to determine what it enjoys (and dislikes) and how to connect with it. Research nearby food trucks to see how they stack up against one another. If nearby restaurants are vying for the same customer base as you, you might also want to look into them. To see where the opportunity is for your food truck, create a SWOT analysis last.
Establish A Business Plan
Your business plan serves as the food truck’s compass. You can stay focused when starting your new business (and for years after) by writing down your main goals and objectives as well as the strategies you intend to use to get there.
Establish Your Expenses And Obtain Funding
Startup expenses for a food truck business include a truck, cooking supplies, and personalized truck wrapping, among other things. The majority of startup business owners approach investors and take out a business loan to find funding.
Obtain The Required Licenses And Permits
You must obtain the required permits and adhere to local, state, and federal laws in order to operate your food truck. These fall into a number of categories, including licensing, zoning, and parking as well as food and restaurant safety. To avoid any legal snags, be sure to familiarize yourself with local business laws. Here is more information on food truck permits.
Invest In Equipment For Food Trucks
The majority of your startup expenses go toward purchasing a truck and kitchen necessities. You might consider renting a car to test the market in order to lower your startup costs. Purchasing a trailer is another option. It’s less mobile, but it’s also a less expensive way to begin.
Create A Menu
Since you don’t have a lot of room to prepare food, your menu should only include a few essential items that can be made in a small space. Because customers will be waiting outside your truck while you cook, you should also make sure that your food can be quickly prepared or cooked.
Spend Money On The Best Technology
Invest in a secure payment system that is quick and dependable to ensure a smooth transaction for customers. You want your payments processor to be able to quickly process customer payments in order to maximize sales during peak hours. A lot of food truck owners are looking for new technology to help with operations and reporting. You can manage and expand your business using Square’s POS system’s inventory management and reporting features.
Make a Marketing Strategy
Anywhere and whenever you park your truck, make sure there is a crowd around. Start with a truck design that stands out on the street and conveys your concept. Then develop a budget and a plan for restaurant marketing.
During What Season Do You Need Your Truck?
You might be hiring a truck for your July 4th wedding reception. Fantastic! Keep in mind, though, that prices can vary greatly depending on the season. If the truck is even operational in the winter, it might cost more in the summer than the winter. The truck and its schedule will also be a factor. Due to lower demand during the winter, renting a food truck may be less expensive than during the summer.
After reading this, I hope you have a clearer understanding of what is involved in renting a food truck for your event. Above is all the information you need to book a food truck smoothly. You are aware of what to anticipate in terms of cuisine, menu choices, number of guests, timeline, and weather.
Again, no pun intended, but it may seem like there is a lot to take in, but in reality, all that is required is that you have the information necessary to throw the best party possible and hire the best food truck to assist you. We must all eat, so why not make it delicious and enjoyable as well?