Spring is finally here, and that means more and more people will be out and about. That means it’s a great time for people in the food industry — specifically the food truck business.
Today, food trucks are the fastest-growing channels in the food service industry. In 2012, food truck revenue was $650 million, however that number has since skyrocketed. Today, food truck revenue has reached a whopping $2.7 billion.
So why are food trucks so popular? If you’re a first-time entrepreneur, a food truck can be a much more affordable option than an actual restaurant. And for less than $100,000, someone can launch a food truck business that can make anywhere between $250,000 to $500,000.
Flexibility, diversity and communication also make food trucks an attractive entrepreneurial venture. Food truck purveyors have the ability to quickly and easily test new concepts, menu items and recipes. They can also cater to various tastes in different locations.
To learn why food truck businesses are revving up, check out Food Truck Operator’s infographic below.