How You Know You Need More Financing For Your Food Truck Business

Financing

Editor’s Note: Today we’re excited to present a guest post from JSL Financial. JSL Financial specializes in providing hassle-free financing for small and medium sized businesses. You can find out more about JSL Financial by checking out their website.

How are your finances looking?

Is your food truck business crushing it in the sense that customers are flocking to your truck and your bank account is growing, or are you struggling to get customers and are also struggling to make ends meet?

Whether the case, there are many different reasons to get more financing for your food truck business, and getting more financing could lead to you climbing to the top of the food truck industry, or simply growing your business in general.

With that said, you might be wondering this question: How do you know if you need more financing for your food truck business? Let the information below be your guide.

Side note: Many prospective food truck owners seek financing to help them buy a mobile kitchen and all of the equipment. Others seek financing to help with cash flow. However, this article is for the folks who already own and operate a mobile catering truck. Nonetheless, if you need financing, whether you are new to the industry, looking to break into the industry or have had a food truck for a long time, then food truck financing has you covered.

Sign up to receive the FoodTruckr Newsletter and we’ll throw in our free guide: 6 Free Social Media Tools to Get People Talking About Your Food Truck.

How You Know You Need More Financing For Your Food Truck Business

  • Your Food Truck Could Use More Manpower
  • Your Food Truck Is Struggling To Make Ends Meet
  • Your Business Is Killing It, But You Don’t Have Quite Enough Money To Expand
You May Also Like...  Types Of People Food Truck Owners Should Study To Gain More Success

Your Food Truck Could Use More ManpowerFinancing

Is your food truck a big success but you are overwhelmed as a result of taking on the food truck industry by yourself? In other words, do you need to hire an employee or two? If that is the case, then food truck financing is a great option.

Food truck financing can help you get more money, which can then lead to you being able to hire an employee or two. As a result, you can take some stress off of yourself and become more of a manager/chef than a do-it-all type without completely breaking the bank.

With that said, you might need a downpayment depending on your credit. If your credit is amazing and your business is doing well, then your downpayment and interest rate should be lower than if the opposite was the case.

Nonetheless, if your food truck lines are flooding with people and you need to hire employees to help you carry the workload, then now might be the perfect time to seek financing.

Food Truck

Your Food Truck Is Struggling To Make Ends Meet

Is your food truck somewhat of a success but you are still struggling to make ends meet? This is yet another reason why taking out a loan is a good idea. Of course, you need to be honest with yourself and really look at your numbers.

If you aren’t making enough money and your sales are diminishing, then food truck financing might not be able to save you. However, if your sales are increasing on a monthly basis, then seeking more financing now might be a great option. After all, you can get more money now and you — and the bank, which is especially important — can see that you are good for the money (it’s all in the numbers).

You May Also Like...  3 Signs You're Ready To Expand Your Food Truck Business

RELATED: How To Increase Your Odds Of Getting Food Truck Financing. Need food truck financing but not sure how to increase your odds of getting a good deal? Let this article be your guide.

Your Business Is Killing It, But You Don’t Have Quite Enough Money To Expand

FinancingHave you had a food truck for a couple of years now, which might also come with amazing credit and an established business, but still don’t have quite enough money to expand? If that is the case, then food truck financing can help you in a number of different ways.

It can help you improve your truck (aka add on better equipment, or more equipment if it will fit in your mobile kitchen), or it can help you open up a new truck altogether. Of course, buying a bigger truck might be the route you take.

If you have a great business plan, your numbers continue to climb, you have enough manpower, etc., then now might be the time to expand your business by adding on another food truck, and financing can help you achieve that goal.

Food truck financing might not be for everyone, but if you can relate to the points above, then it likely has your name written all over it. If you need more money, then all is not lost, and financing can help you get the money you need.

You are not alone, mobile kitchen owners.

Looking for financing to start or grow an existing food truck? JSL Financial has you covered.

To dig your teeth into what FoodTruckr has to offer, make sure to like us on Facebook and follow us on Twitter, and also make sure to check out more content that we bring to the table.

Recently on FoodTruckr

How to Run a Food Truck 07: Run Promotions to Inspire Fan Loyalty In last week’s special customer service lesson, we learned how the FoodTruckr LEARN method helps you handle customer disputes. However, while it’s important to have protocols in place for those times ...
How Food Truck Owners Can Collect Lead Contact Info Collecting lead contact info can be an invaluable strategy for food truck owners. After all, we want mobile kitchen owners to think outside the box in 2019. While many of your customers likely come...
Take Your Food Truck Business To The Next Level With This Growth Kit Are you looking to take your food truck business to the next level and increase your sales? Look no further than our Food Truck Business Growth Kit to make that happen! If you are all about growing yo...
Business Bites: Navigating the Latest Facebook Page Upgrade, Food Hackathons, and Skipping the DMV Welcome back to Business Bites, a bi-weekly column with articles and tidbits we've come across in the last two weeks. Facebook Updates Pages: Here's What Changed Facebook loves to make changes qui...
Ways To Lead Your Food Truck Team Editor’s Note: Today we’re excited to present a post from Jeremy Adams. Jeremy is the President/CEO of Prestige Food Trucks, which is the world's leading custom food truck manufacturer. In his current...
Flashback Friday: All-Star Advice From Real Food Truck Owners In the recent past, we interviewed real life food truck owners who were battling it out in the mobile kitchen industry. Each food truck had its own unique story -- which tends to be the case for an...
The Best FoodTruckr Advice For Mobile Kitchen Owners From Last Week: Jan. 15-21 Every Monday, we like to give food truck owners a full serving of advice, and we do that by dishing out every single article from the week prior. So, with that said, below you will find every artic...
How Food Truck Owners Should Approach Their 2018 Goals The secret to goals: Doing whatever works for you. Yes, while it is in most people's best interest to create a goal that is measurable and reasonable (yet challenging), and then attaching a deadlin...
The 12 Days of FoodTruckr: 1 Very Extra Super Special Sale! On the first day of Christmas, FoodTruckr’s giving you… One Very Extra Super Special SALE! That’s right, FoodTruckrs. We’re kicking The 12 Days of FoodTruckr off with a bang and offering a big disco...
5 Signs You Were Built For Food Truck Entrepreneurship Editor’s Note: Today we’re excited to present a post from Jeremy Adams. Jeremy is the President/CEO of Prestige Food Trucks, which is the world's leading custom food truck manufacturer. In his current...
Must-Read FoodTruckr Articles From 2018 While FoodTruckr has featured plenty of tips, tricks and motivational pieces in 2018, we encourage food truck owners to check out the collection of articles below. Must-Read FoodTruckr Articles From ...
Throwback Thursday: The How To Start A Food Truck Guide Is Still Changing The Game For Food Truck Ow... If you're thinking about joining the food truck industry, or are relatively new, then we have quite the Throwback Thursday treat for you. For the purposes of this week's Throwback Thursday article,...
Throwback Thursday: A Look Back At Last Month’s Food Truck Articles For this week's edition of Throwback Thursday, we are going to go back in time ... but not too far back. In fact, we are only going to go back about a month in time. In the spirit of that thinking, b...
3 Questions Successful Food Truck Chefs Must Answer Do you fancy yourself a successful food truck owner? Are you currently conquering the mobile kitchen industry, and quite possibly living large? If so, then there are three questions you must answer...
7 Timeless Business Lessons Aspiring Food Truck Owners Need to Know The business responsibilities that come with being a food truck owner can be a tall order. Filling that order takes a willingness to work on your entrepreneurial mindset and character. If you’re hungr...

About the Author

FoodTruckr

FoodTruckr is the #1 online destination for current and aspiring food truck owners looking to succeed in the mobile food industry. Self described “food truck devotees,” the FoodTruckr team enjoys reading about successful entrepreneurs, salivating over photos of burritos on Twitter, and long walks through food truck parks. Chat with FoodTruckr on Facebook or check out the FoodTruckr School podcast for more awesome tips to level up your business.

Love it? Share it: Share on Facebook Share on Twitter