If you are thinking of starting your own business, especially in the restaurant industry, and your sole motive for doing so is do get out of the "I’m working for someone else" scenario and into the "I run a business" scenario, then you might consider an investment in a food cart franchise. A food cart franchise, if done carefully, can be your ticket to more time for you, your loved ones, and for those other projects that you want to focus on. Listed below are five reasons that you could consider a food cart franchise instead of starting your own restaurant.
Invest in a Food Cart Franchise: Reason #1: You Don’t Have to Write a Business Plan
Now, for some people, the challenge of writing a business plan is the best thing since sliced bread, but for others its like chewing on rocks. If you are the "chewing on rocks" type, then it might be safe to guess that investing in a food cart franchise, rather than a restaurant, would be the right choice for you.
Invest in a Food Cart Franchise: Reason #2: Less Expensive
A restaurant can cost a lot of money. One of the "guesstimates" that I found online1 was that if you think you will need about a million dollars you will most likely need more money—in the range of about a million and a half dollars! That price may seem a little steep, but from the information that I’ve read online, it seems that the restaurant industry has been known to throw a few curve balls.
A food cart franchise on the other hand is going to be much less expensive and will have few overhead costs. Talk to someone about a food cart franchise and see what you think.
Invest in a Food Cart Franchise: Reason #3: Mobility
A restaurant usually stays in place. A food cart franchise however can provide you with a wider range of territory because it is mobile! When you are looking for a food cart franchise, make sure that it is easily mobile and that you can serve your newfound products in a protected territory. Also, if you choose from a selection of ice cream franchise opportunities for example, you could find a variety of parks, sports arenas or street corners where some ice-cold goodness wouldn’t go unnoticed.
Invest in a Food Cart Franchise: Reason #4: The Décor
A well decorated restaurant can be an absolute haven for the starved spirit but the cost of a professional décor can be mind numbing. If you don’t want to face extensive debt or don’t want to lobby for venture financing, then you might consider a food cart franchise that has already been decorated. Look for a food cart franchise that provides a décor that you think goes well with the food item that the franchisor is offering. Make sure that once you turn the key to your food cart franchise, you are ready to sell your wares!
Invest in a Food Cart Franchise: Reason #5: The Menu
In a restaurant, a customer can usually choose from a fairly large menu which may be great for him or her, but can be stressful for you. The logistics of managing a restaurant are many and hiring the right staff to present the food the way you want it to be presented can be trying. With a food cart franchise, you can simplify your offerings a great deal. For example, look for a franchisor who will provide you with all the food products that you will require. That way you won’t have to deal with vendors. Also, look for products that are easy to serve. Ice cream, once again, is a very easy product for anyone to serve. You could hire a young teen or two and give them a little work experience and some time in the sun while you have more time for other ventures.
No matter what food cart franchise you are interested in, make sure to research it well and talk to others who are involved in the franchise.