The Food Truck Industry has recently become a global phenomenon with a tremendous public following. Food trucks provide high-quality food without the high prices of fine dining establishments.
People regard food trucks as a source of natural, local food at a low cost, and they frequently garner a massive following of loyal followers. Food trucks may be a terrific source of income and operate similarly to any other type of business, but with the bonus of mobility. Click here to know what is hsn code for transport charges.
What to do Before Starting a Food Truck
To get started in this segment, you will need a truck that has been customized to serve as a food truck. You have an option of purchasing a new truck, but the more typical practice is to buy a used car. Because trucks and heavy vehicles are frequently for sale, finding a used food truck for sale is very easy. Car fitness certificates, insurance, vehicle registration, and road tax receipts are examples. Once all of those, as mentioned earlier, have been approved. You can be confident that your chosen vehicle is roadworthy.
Before you start your business, you should get the following government credentials, which will allow you to conduct food business safely within the Indian States.
- NOC from Local Municipal Corporation for FSSAI Mobile Vendor Certificate
- NOC from the RTO
- Certification in Fire Safety
- Kitchen Insurance for Shops and Establishments
To establish a good food truck, you must first purchase a used food truck, register it, and obtain government documentation and food safety certificates. You will need to buy electrical appliances and adapt your truck to function as a mobile kitchen. Considering all of these fees, you can estimate an initial investment of around 8-10 Lakhs. Food trucks generate large sums of investments they can generate for their owners. A food truck can earn between 7,000 and 10,000 INR per day.
Food trucks are also a ubiquitous sight at events and college fests. A food truck can easily earn INR 35,000-40,000 per day. Food truck owners typically choose to set up shop at such events where there is a vast volume of people. A food truck can easily make between 2-3 lakhs in a month, and if you include events like college festivals, the revenue may be increased by another 2-3 lakhs.
But the most vital thing to not forget is that the success of any food truck, like a restaurant, is dependent on the quality of service and, most significantly, the type of food, its taste, quality, quantity, and so on. Every day, food truck proprietors purchase food and basic materials. This allows them to calculate profit and loss daily. Accounting administration for a food truck business is much simplified due to this. You can re-sell it to someone else if you’ve got your fill of running your food truck business.
The Bottom Line
Yes, food trucks are a profitable business, but it requires an initial investment and a high-quality product, i.e., food that customers would enjoy. If you are confident in your food and can afford the initial cost, you should start a food truck business. Check what itc in GST?
This post was published on April 27, 2022 5:45 pm