People who think that food trucks are something which is a new form of food business are wrong, because this business has its roots in the 19th century. Although at that time it may not be as modern as today. This business of food trucks has been considered as one of the most profitable businesses of India. Not only in India but outside India also it is equally profitable as well as popular. Just like the other businesses, if you want to start this food business you need to comply with the various legal and financial requirements. In order to understand the legal and financial perspective of this business you must read the present blog till its end.
What are Food Trucks Businesses?
Many times you must have seen trucks selling food on the streets. These trucks which are selling food on the streets come under the ambit of food trucks businesses. These businesses are very profitable as well as easily manageable. They are not as hectic as other food businesses like hotels, restaurants, cafes etc. Also they don’t need very high investments like other food businesses. Some of the key requirements of these businesses are:
- Obtaining legal permits, licenses and registration from the competent authorities
- To comply with the FSS Act of 2006
- Must have a proper business plan
- Must research about the customers as well as market
- Investment plan must be there with you, it will help to maximize your profit in the market
- Must have idea about the target audience of the business
- Must have a good location in order to start your business
Food Truck One of the Most Profitable Food Business
Among the hundreds of food businesses, food trucks are the one which are the most profitable, if the owner of the business do the following:
Market Research
No business can obtain profit if it starts with wrong practices. Your little efforts in this food business can maximize your profit. In order to start this business the very first thing you need to do is market research. This will give you a rough idea what you should do to make your business different among the already existing businesses of the same kind. If you are going to launch your business by following the traditional ways the chances of success of the business will automatically go down. Hence must do proper market research before starting this food business.
Target Audience
You must have an idea about your turkey audience before launching your food truck business. It is necessary to figure out the target audience so that accordingly you can launch your business in the market. If you are aware about your target audience it makes it easy for you to decide the various things regarding the business like menu, interior, location etc.
Location of the Business
Many times what people do is that they just randomly choose the location for doing such kinds of businesses. But you should not make this mistake. Search for a good location which will be suitable for your business like if your target audience is youngsters then you must launch your food trucks business near the colleges or schools.
Must Have a Good Business Plan
When you enter the business industry you come to know about the fact that people spend thousands of their hard earned money on drafting a good business plan. You must be thinking why it is so. They can easily do it on their own as well. That’s the difference between the successful entrepreneur’s thought process and the one who does not have much idea about entrepreneurship. A well drafted business helps to get investors for your business, can help in establishing business smoothly and also helpful in revenue generation.
Legal Requirements of Food Trucks Businesses
Some of the key Legal requirements of the food trucks businesses are mentioned below:
- Food License which is known as FSSAI registration is necessary for the food truck businesses. If you are caught running any kind of food business without this license you may face heavy fines and penalties. Hence must obtain this Fssai License,
- GST registration if applicable on your food business. Also without this registration you cannot charge GST from the customers
- Trade license from the local municipal corporation must be obtained
- Shop and Establishment certification for the registered address proof
- Health license should be obtained
- Obtain MSME Registration, it will help you out to get various advantages of the government of India
How to Start a Food Truck Business In India?
Follow the steps given below in order to start your food truck business in India:
- The very first thing you need to do is research about the business like its targeted audience, location, market place, competitors etc
- Draft a business as well as investment plan
- Do the business registration. There are many kind of business registration you can opt for like Private Limited Companies, Public Limited Companies, LLPs, OPCs etc
- With the business registration obtain the key legal licenses, registration and permits which are applicable on your business
- Buy a truck and with the help of some professional decorate it according to your business
- After fulfilling the above steps launch your business on a good location
Benefits of Food Truck Businesses
Some of the key benefits of the food truck businesses are mentioned below:
- Easy to start
- Easy to maintain and operate
- Highly profitable food business
- No need of premises
- Easy legal requirements
- Can be launch easily in the market
- Such businesses can survive easily in the market
- Low risk of failure as well as loss
Conclusion
Starting a food business is very challenging in India, especially after the launch of food safety laws. It’s not easy to run a food business as per the requirements of the FSS Act of 2006. But you don’t need to worry about it, as we are here to help you out. If you want to launch your food trucks business, you must comply with the legal requiem,ents of this business which are discussed above in the current blog. Also it is suggested, whenever you want to start this business you must take expert advice in order to comply with the legal and financial requirements of your business. This will make your business more successful in the market.
