(Video) Food Trucks Are Here to Stay
According to the Economist, there are now more than 4,000 food trucks traveling around. Due to the need to find new ways to maximize disposable income, the industry got its start in 2008 during the Recession as consumer preferences were changing. From 2008 to 2014, food truck industry revenue increased at an impressive annualized rate of 12.4%. The food truck industry is expected to generate about $2.7 billion in revenue in 2017.
Expanding Consumer Trends
Consumers are now demanding fresh, local and quality food service at a fast-food pace. Mobile food trucks can deliver that, all while testing new menu items on a daily basis to perfect their cuisine style. Unlike traditional restaurants, food trucks are inherently more flexible when it comes to recipes, concepts and design.
Competitiveness with Restaurants
It’s not always smooth sailing for food trucks. Many traditional brick-and-mortar restaurant owners feel threatened by the growth of the food truck industry. However, that’s not always the case. A study from the Bureau of Labor Statistics found that counties that have experienced a high growth in mobile-food services have also had quicker growth in restaurant and catering businesses.
Many city ordinances haven’t adopted new policies to keep up with the every-changing food landscape. State and local regulations vary in every city, causing mobile food trucks to be more popular in certain places. Between parking requirements and time restrictions, truck owners need to work closely with industry associations and city officials to solve these issues.
The mobile food truck industry is ripe for continued growth and new innovations. Now is the time to get into the business. Thanks to increasing household incomes and evolving consumer preferences toward gourmet, yet quick food, the food truck trend is here to stay.
On The Move makes life easier for food truck operators through a multitude of services. They’ve developed a truly unique and innovative food truck design which increases the interior working space while allowing a more personal interaction with a larger number of customers.
To learn more about our mobile food trucks for sale, visit http://www.onthemovefoodtrucks.com today!