Opening a food truck business for 10,000 euros in 2 months is possible

Hospitality chains and franchises are interested in the food truck business that allows them to expand their brand with great flexibility and visibility.

With unemployment exceeding 3M, more than 20,000 self-employed people leaving in the first month of the year and increasingly difficult conditions for obtaining credit, it is necessary to reinvent the business world and offer low-cost and quick start-up solutions.

Madrid, February 06, 2023 In the month of January alone, more than 20,000 self-employed have left the labor market and the number of unemployed has exceeded 3M in Spain (*). Many unemployed people consider starting a business by collecting their unemployment benefits in a single payment that will allow them to make the investment to start a business. In the case of the self-employed, the situation is more complicated since most of them will not receive any assistance.

One of the hardest hit sectors is the over-50s, who number 850,000, a group with great difficulty in returning to the labor market. On the other hand, 29.6% of people under 25 years of age are unemployed (**). In both cases, the chances of finding a job are very complicated and the possibilities of financing are practically non-existent.

A food truck business for less than 10,000 euros

The food truck business is well established in many countries. In fact, the forecast is to reach $6 billion in the global market by 2028, according to the consulting firm Vantage Market Search.

According to LACOMMA The company, which last year increased its sales by 40.96% (and this year expects to grow by at least 25%) Spain has experienced great growth, although there are no official figures, estimates that growth in the domestic market may be around 30% and the creation of hundreds of jobs.

In addition to arousing the interest of individuals, more and more franchises and hospitality chains are interested in extending their brand using a food truck that allows them mobility and adaptation to seasonality, such as Christmas or beach seasons, and to specific events that move large numbers of people.

Until 5 years ago, it was a business that generated interest but did not get off the ground due to the lack of flexibility of the Administration, expensive and scarce supply, complicated bureaucracy, etc. Starting up one of these businesses could cost 30 or 40 thousand euros and a start-up period of 12 months. This has changed and today it has become an easy, economical and profitable option for self-employment.

It is possible to start up one of these businesses in 2 months with all the necessary licenses to start working and at a cost of around 10,000 euros. Lacomma offers a model of food truck for business for 6,999 euros + vat that includes the vehicle with electrical installation and the necessary certificates to start the activity. According to this company, the average amortization period is 12 to 15 months.

Not just hamburgers and hot dogs

This market is associated with fast food and not always quality food. But the possibilities offered by these vehicles make it possible to take processed food to any point. As in the case of Manuel Corbacho, whose restaurant in Extremadura had to close due to the difficult situation experienced during the pandemic. He decided to “reinvent” himself with a food truck called “La Salaina” and try his hand at this market by taking his gastronomy around Spain, dishes from his homeland prepared by professional chefs. A 3 x 2 meter vehicle allowed them to take their activity, the Extremadura quality cuisine, everywhere. The result was so good that they are continuing with it.

(*) Data provided by ATA (Asociación de Trabajadores Autónomos, EPA (Encuesta de Población Activa).
(**) Community Statistical Office

 

News published on February 7, 2023 at murcia.com

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