3 Ways To Raise Money For A Food Truck Business

Money

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.

While a food truck business will typically cost less money than a sit-down restaurant (that tends to be the case for the initial purchase and the overhead costs), said food truck business is still going to require a great deal of money.

After all, you could end up spending $30,000 (at minimum!) for the actual truck and the equipment required to make your food. If you are in the market for a high-end truck, then your business (the truck and all of the equipment) could cost $70,000 or more.

No one said purchasing a food truck was going to be cheap. With that in mind, below you can find three ways to raise money for a mobile kitchen business.

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.

3 Ways To Raise Money For A Food Truck Business

  • Food Truck Financing
  • Friends And Family
  • The Old-Fashioned Way: Saving

Food Truck Financing

If you don’t have an overload of money saved up, then this could be your best option when it comes to raising money for a food truck.Money

With that in mind, there’s a lot that goes into financing a food truck. Luckily, we have the ins and outs covered in this article.

In a nutshell, financing/a loan from the bank can provide you with enough money to purchase your truck, and this money can also be used as startup capital; however, everyone’s situation is different. Nonetheless, financing is a viable avenue, even if you have bad credit.

You May Also Like...  Is Facebook Messenger Marketing Important For Food Truck Owners?

Looking to build a new custom food truck? Check out this link for more details!

Friends And Family

Depending on how much money you need to start up your business, having an investment round via friends and family might be your best option.

If you do go down this road, a road that could easily get you $20,000 or more, you need to be very transparent with your investors (in this case your friends and family). How do you plan on paying them back, and making their investments worth it? With your food truck business, of course, but this is the part where you show off your all-star business plan and really break things down for them.

Convince them you can — and will — be a success in the food truck industry.

Want to learn how to build a subscriber list for your food truck business? One of our managing partners here at FoodTruckr has put together an AMAZING FREE GUIDE that will teach you everything you need to know about getting started with Messenger Marketing! Click here to get your free guide.

RELATED: Why New Food Truck Owners Could Use Some Startup Capital. In need of startup capital? This article is a good start for that adventure.

The Old-Fashioned Way: Saving

As we kind of touched upon earlier, everyone’s situation is different. In the spirit of that thinking, if you don’t want to take out a loan via financing (although this is a solid option if you need cash now, and have the ultimate business plan), and if you don’t want to pester friends and family for money, then you could always raise your food truck business money the old-fashioned way — saving.

You May Also Like...  What Data Can Tell Us About The State Of The Food Truck Industry

MoneyNow, this might take less than a year for some people, more than a year for others and much, much longer for other folks. It 100 percent depends on your situation, and how much money you can put away in the bank.

No matter which direction you head in when it comes to funding your mobile catering business, entering the food truck industry is a risk. However, it is usually less of a risk than opening up a sit-down restaurant, and it is worth every penny if you are really passionate about making your dream come true, which is becoming a lunch truck owner.

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

Food Truck Branding 101: Build a Brand That Rocks We all learned at an early age not to judge a book by its cover, right? That’s bad advice when it comes to brands. On a daily basis, customers are bombarded with advertisements and challenged to make ...
Flashback Friday: This Food Truck Serves Up Pizza In Alaska Year-Round This week's edition of Flashback Friday is about to get frigid, because it takes us all the way back to Oct. 20, 2016, a day in which FoodTruckr interviewed a mobile kitchen that makes pizza in Alaska...
FoodTruckr Heroes: Maximus/Minimus Today’s FoodTruckr Hero earns major points for serving up tasty pulled pork sandwiches and delicious mac and cheese to their most loyal fans—but the real reason they’ve earned a spot in our Hall of Fo...
Why Food Truck Owners Should Grow A Messenger Subscriber List Not long ago, you probably heard digital marketing experts talk about how food truck owners need to grow email lists. Well, a new strategy has emerged and it involves creating a new kind of list: A me...
7 More Business Lessons Food Truck Owners Can Learn from Smart Online Entrepreneurs “What do my customers really want?” “How do I attract new customers and convert them into loyal fans?” “Where do I need to focus my time and energy to grow the business?” Entrepreneurs from all wal...
10 Entrepreneurial Quotes That Will Inspire Food Truck Owners 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...
2 Effective Ways Food Truck Owners Can Boost Their Social Media Game It's okay if you aren't a social media guru. Likewise, it's okay if you don't want to spend all of your free time trying to come up with a social media strategy that will benefit your food truck busin...
Invaluable Advice When It Comes To Writing A Business Plan For Your Food Truck No matter what type of business you are trying to start, there is one thing all aspiring business owners need to do ... and that is make a business plan. A business plan can't be avoided, especiall...
3 Los Angeles Food Trucks That Foodies Need To Try Immediately Los Angeles, California is flooding with amazing food trucks. In fact, if you are a fan of food (who isn't?), or are wanting to join the mobile kitchen industry, then L.A. might be the perfect place f...
Motivational Articles That Will Help Food Truck Owners Conquer The Inevitable Rut No matter what industry you are in, you will find yourself stuck in a rut at one point or another. Yes, that includes people who are working at their dream job, such as food truck owners. For these...
Advice That Will Help FoodTruckrs Conquer The Summer With summer around the corner, we figured now would be the perfect time to give FoodTruckrs a ton of advice so they can conquer the busy season in style. With that in mind, we are about to give foo...
Three Keys to Building Food Truck Super-Fans Close your eyes and picture your favorite regular customer. You know the Suit—extra hot sauce, hold the cheese—who always gives you a smile and a healthy tip. Or that chatty college girl who seems to ...
Things Sit-Down Restaurants Do Well That Food Trucks Should Implement Sit-down restaurants have their fair share of perks and downfalls. Likewise, food trucks also have their fair share of perks and downfalls. With that said, we live in a time and place where mobile kit...
Why Mobile Kitchen Owners Should Market Their Trucks On Facebook And Grow A Messenger Subscriber Lis... The food truck industry might be friendly in nature but it’s also a competitive field that has an endless amount of competition. Cooking delicious meals and implementing new recipes, unfortunately, is...
Throwback Thursday: Organize Your Licenses And Permits For Your Food Truck Business There's one thing many food truck owners don't like talking about ... but it's so important nonetheless. Enter, in Throwback Thursday fashion, licenses and permits. If you want to run your busin...

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