It is normal for any entrepreneur who is looking to start a food truck business to have an idea of the daily cost of running the business before they invest their capital into the business. Interestingly, the cost of running a food truck business daily is not uniform, this is so because there are a lot of factors that can contribute to the overall cost of running a business daily.
In this article, we will be discussing the ongoing daily expenditure of running a food truck business daily and the factors that determine how much the owner of the food truck will spend on a daily basis to keep the business up and running.
8 Factors That Influence the Cost of Running a Food Truck Daily
The Cost of Fueling the Food Truck
One of the major factors that will determine the overall cost of running a food truck daily is the cost of fueling the food truck. The fact that a food truck is designed to move from one location to another means that the truck will require fuel to perform this function.
In essence, the amount a food truck that covers over 100 miles daily spends on fuel will be more than the amount a food truck that only covers less than 50 miles daily.
The Type and Size of the Food Truck
Another factor that can influence the amount a food truck will spend daily is the type and size of the food truck. There are different types and sizes of food trucks and each of these types and sizes requires different levels of daily maintenance.
As a matter of fact, the bigger the food truck, the more you are expected to spend when it comes to maintaining the food truck and that can rapidly add to the overall cost of running the food truck business daily.
The Menu Options of the Food Truck
The menu option of the food truck business is yet another factor that can determine the overall cost of running the food truck business daily. For example, if a food truck only sells gourmet popcorn, they are expected to spend less when compared to a food truck business that has several menu options such as food, snacks, and drinks.
The Locations the Food Truck is Covering
Another major factor that can influence the cost of running a food truck business daily is the location the food truck is covering. This is so because food trucks are expected to pay for parking and the necessary permits before they can be allowed to park and sell their food and drinks in a location.
A food truck business that operates in major cities is expected to spend more on parking fees and permits when compared to a food truck business that operates on the outskirt of town or even in places where they are not required to pay for parking fees.
The Amount Spent on Waste Disposal
The amount a food truck spends in disposing of its waste after the day’s sales is yet another factor that will determine the cost of running the food truck business daily.
It should be noted that different councils charge different fees for waste disposal, and the amount of waste generated by the food truck will also influence the amount the food truck will spend daily on waste and this will add up to the total amount the food truck will be spending on a daily basis.
Interestingly, no two food trucks can generate the same amount of waste hence their budget for waste disposal will be different.
The Cost of Phone Calls and Internet Subscriptions
Another factor that will determine the cost of running a food truck business daily is the amount the food truck spends on phone calls and internet subscriptions. The fact that you cannot run a business in this age and time without making phone calls and using the internet for various purposes means that a business should always have a budget for phone calls and internet subscriptions.
Although most businesses subscribe monthly, quarterly, or even yearly when it comes to their phone calls and internet subscriptions, the fact that these expenditures are done on a daily basis in the cost of running the business means that it is a daily expenditure that can influence the overall cost of running the business.
The Cost of Paying Toll Fees
The cost of paying toll fees is yet another cost or factor that will influence the overall cost of running a food truck business on a daily basis.
Come to think of it, there are cities with several toll gates. If a food truck decides to operate in a city with several toll gates, the food truck will spend more paying toll fees when compared to a food truck that is operating in a city with minimal toll gates.
As a matter of fact, if you operate a food truck business to cover different states, you should have a robust budget for paying toll fees. This is because interstate toll fees are more than intra-state toll fees.
The Budget for Miscellaneous
Lastly, another factor that will determine the overall cost of running a food truck business daily is the amount you spend on miscellaneous on a daily basis. Trust me, you cannot operate a food truck business without having a budget for miscellaneous.
This is so because there may be a need for you to visit a vulcanizer shop to either change your tire, pump your tire or patch your tire. No one plans for a flat tire hence there should always be a budget for this when you are on the road.
So also, you may want to spend on people who may assist you to move things and you are also required to spend on restroom and the feeding of your staff. These costs that are not fixed can be grouped as miscellaneous and they can add to the overall cost of running a food truck business daily.
Please note that we cannot categorically state the amount a food truck business is expected to spend on a daily basis, because the factors listed above in this article can greatly influence the overall cost of running a food truck business daily.
All you need to do if you want to get an accurate estimate of what it will cost you to run a food truck business is to collect the data of running the type of food truck business you want to start for a period of time. With that, you will be able to arrive at a close-enough estimate.