Food Truck Frenzy
Food truck businesses have seen a booming trade over the past five years in countries such as the USA and Australia. Food truck operators provide a unique, gourmet experience for consumers at budget prices. Food trucks are mobile and may operate from dedicated food truck sites, or from localities hosting public or private events.
For business owners, food truck business provides a relatively low barrier to market entry, compared with the traditional bricks and mortar food business. Food trucks may range from AUD$20K to over $100K, depending on the size, condition and range of food equipment installations. Council permits are also required.
In the USA, the food truck industry is said to be generating in excess of $870 million USD per annum, with a growth rate of around 7.9% over the past five years (source: IBISWorld). The market is more mature in this region than in countries such as Australia, experiencing a recent upsurge in food truck operators.
The recent proliferation of food trucks in Australia has urged local governments to step up their support for such traders. A number of municipalities around Australia are offering free information sessions for potential and existing food truck operators, to ensure they have the right knowledge, skills and permits required to operate successfully within the legal frameworks that govern such businesses.
Melbourne lays claim to being the food truck capital of Australia. There are a number of dedicated food truck parks already in operation, such as the Welcome to Thornbury park. In 2017, the City of Melbourne is planning to open five dedicated food truck precincts around public hot spots to cater for growing public demand. These will be permanent precincts that provide food served by a range of food trucks that are stationed either on a permanent or rotational basis. Some of the locations will include the National Gallery of Victoria, the Arts Centre, the Queen Victoria Market and the Flinders Street Railway Underpass.
If you are thinking about or already operating a food truck business, check out your local council website for information on the many free information sessions planned for 2017 for food truck operators across Australia.