But glossing over all those hiccups, the truck looked as silly as it did awesome. It was a bit small, but had a lot of charm. So I started talking with the trading company (a little outfit known as ChangLi that also supplies a few importers in the US).
The shipping process seemed to take forever. At first all went well, and a couple weeks after paying, my truck was headed to the port. It sat around for another couple weeks until it made it into a container and onto a boat, then six weeks later, the boat arrived in Miami. The only problem was that my truck was no longer on it. No one knew where it went and I spent several days calling the forwarding company, the logistics company, my customs broker, and the Chinese trading company. No one could explain it.
The cage it was shipped in was beaten to hell and back, but the truck was miraculously fine. There I unboxed the truck, a process for which I was glad to have charged up my angle grinder in advance. Ultimately the un-crating went decently well with only a few hiccups that I caught on video along with my first test rides (of course my dad and wife who were both on hand to watch the show unfold were quick to volunteer to test it out).
I was actually surprised by the fact that the truck was in such good condition after the long journey around the world. I guess preparing myself for a banged up truck helped keep my expectations low, and so I was shocked when the truck arrived nearly dent-free.
One precaution you should take is to run a free vehicle history report; doing so can alert you to odometer tampering, prior damage, and other potentially costly red flags. It could also be a good idea to consider looking into food truck insurance in order to account for, and be prepared, for these unexpected problems.
Food truck kitchens are small spaces and you want every inch to be as functional as possible. A new kitchen creates an opportunity for every appliance and work surface to support your food concept and maximize sales.
When you provide the bank with receipts from the builder, they will show the total cost and value of the kitchen. These receipts coupled with the fact that used commercial trucks are bought, sold, and financed every day means that banks are comfortable with this situation. For more financing options, check out Kiva, a company that offers loans to food truck entrepreneurs.
While they are solid trucks, regulations and permitting requirements are constantly changing, which means entrepreneurs should buy a truck that meets the strictest of standards to avoid costs down the road.
In the food truck mecca of Los Angeles, for example, a regulation now requires 2009 or older diesel trucks with a gross vehicle weight rating (GVWR) greater than 14,000 pounds (most weigh anywhere from 12,000 pounds to 16,000 pounds) to either install a $10,000+ converter kit or replace their existing engine to comply with reduced emissions standards. This law will be phased in over the next six years, with the final phase ending in 2023.
This warranty can save you thousands compared to the repairs you face with even a well-maintained used truck. The warranty on a new chassis can easily make up for the cost difference between a used truck and a new truck.
According to some food truck-friendly banks, you can finance new kitchen builds for as low as 4.5% and a new truck for as low as 3%. The 1.5% difference in interest can add up to big savings on your monthly payments.
Prices range from $3,600-$3,800 a month for a new fully built truck, plus a Roaming Hunger benefits package to help you build your brand and business once your truck is on the road. For more information go to our Food Truck Lease Page.
On average, most food truck entrepreneurs spend between $70,000 and $80,000 on their food truck. The total price of buying a food truck can amount anywhere from $50,000 to $250,000 depending on how you acquire the truck, customize it for your needs, and your local permit and licensing requirements. To help you narrow down how much you should expect to spend on your food truck, we break down the average cost of new, used, and leased food trucks below.
The first step in owning a food truck is assessing the financial obligation by writing a food truck business plan. Begin by researching your target market, local ordinances, licensing and permit demands, parking permit regulations, and what type of equipment your menu requires.
Most food truck entrepreneurs need to apply for financing or a loan to offset food truck startup costs. Before heading to your bank, know your credit score and, based on your food truck business plan, know how much owning a food truck business will cost you.
One of the biggest decisions of buying a food truck is deciding whether to purchase it new or used. While there are advantages and disadvantages of each choice, it ultimately comes down to what your budget is and how much you can afford upfront. We'll go over the pros and cons of buying new and used food trucks, so you can make the best decision for your financial status.
If you have the money, buying a new food truck is a worthwhile investment that will help you avoid costly repairs down the line. Discover the advantages and disadvantages of buying a new food truck below.
If you want to own your food truck but are hesitant to invest in a brand new vehicle, buying a used food truck is a great alternative. Learn about the advantages and disadvantages of buying a used food truck below.
Purchasing a kitchen-equipped truck is the most expensive part of becoming a food truck operator, so many entrepreneurs circumnavigate this major up-front cost by leasing their food truck. Making smaller payments over time allows you to get a brand new, high-end food truck without a large initial fee. The leasing route might be right for you if you're new to the foodservice industry or want to see if your brick and mortar does well as a food truck.
The website Food Truck Empire provides a list of reputable dealers and helps you find a dealer in your state. Also, many entrepreneurs ask the owner of their favorite food truck where they purchased their vehicle. Asking food truck owners for recommendations provides the opportunity to inquire about how well their truck runs and if they had a positive experience with its vendor.
Additionally, we've created a list of reputable food truck manufactures below. These dealers offer a selective inventory of food trucks, and most offer leasing options. You can fully customize your food truck when purchasing from any of these sites.
Decide whether you want to go with a gas or diesel engine for your food truck, determining your fuel cost. There are many pros and cons to each type, so it comes down to preference. Most food truck owners choose diesel engines for their power, but you have to be prepared for that slightly larger initial investment.
Portable diesel generators are the typical power source for food trucks and trailers. Diesel-powered generators withstand constant heavy use and have long lifespans. If you live in a sunny location, you can sustainably power your food truck by installing solar panels to the roof. Another food truck power supply option is to use Liquefied Petroleum Gas (LPG) cylinders.
Flat Panel TV - Add a flat panel television to the exterior of your food truck so you can market your menu, specials, locations, and other important information. You can also use it to play music.
Misting System - This feature is perfect for the summer months or for food trucks in areas where the climate is hot year-round. Food truck operators usually install misting systems above their exterior serving window to keep customers cool while they wait.
Vinyl Wrap - Many businesses have designers who work with clients to create a personal logo or image. They then transfer the logo onto a vinyl wrapping that goes around the entire truck for branding. These wrappings can include graphics, menus, business names, and any other advertising materials, and they will include the proper cutouts for windows and serving windows.
Owning a food truck frees you from the physical and financial tethers of a storefront. However, buying a food truck involves a lot of research, time, money, and communication. Use this guide to make an informed purchase. With careful planning, you can buy the ideal food truck for your business and take your delicious menu on the road.
Pros of Buying NewBuying a new vehicle is about peace of mind. New trucks have a much lower risk of breaking down soon after purchase. If a breakdown occurs, your new semi truck typically comes with a full powertrain warranty that covers any issues with your engine, transmission, driveshaft, axles, differential, and other parts.
Another factor to keep in mind is environmental regulations. All trucks operating in the United States must abide by federal emission laws, as outlined by the Environmental Protection Agency. New engines feature technologies that comply with the latest emissions laws, making them more complex and challenging to repair and maintain.
Pros of Buying UsedThe lower asking price of a used truck is less challenging for a new company to pay off. This relieves the financial pressure on new companies that are just starting to build a client list and have irregular cash flow.
In addition, used trucks come as-is, with the configuration and specs their original owners selected when they rolled out of the factory. These specifications may not always match your needs, especially if you have precise requirements, such as a specific engine and transmission, in mind.
How much does a semi truck cost you every month? The answer depends on your credit score and annual income, as well as the loan term. An average credit score could mean a higher interest rate on the loan. A longer loan term means lower monthly installments, but you pay more in interest over the life of the loan. 781b155fdc