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Food Truck Economic Statistics

January 6, 2017

 

 

 

The mobile food industry is in it’s seventh year of consistent growth and the 2015 food truck industry statistics are here prove it. While food trucks may not be the new kid in the food service industry, the fact remains that the food truck segment is still growing. The best part is that there is still plenty of room for additional growth. Many cities across the country are still trying to determine how to regulate the industry, but many of them have started leaning towards fair ordinances that allow vendors to flourish.

2015 Food Truck Industry Statistics

2015 Food Truck Industry StatisticsData

Annual food truck revenue- $1,200,000,000

Industry revenue increase over the past five years- 12.4 %

Total number of food trucks in U.S.- 4,130

Average revenue generated per food truck- $290,556

Average spending per order at a food truck- $12.40

Average cost of food truck- $85,000

 

2015 Food Truck Location Market Segments Percent of Sales

Street locations- corners - 55%

Other locations-venues- events- 18%

Industrial- construction work sites- 15%

Shopping malls- 12%

 

2015 Food Truck Expense BreakdownPercent of Expenses

Food and Beverage for resale- 27%

Insurance, repairs and maintenance, licenses, fuel-26%

Employee wages- 18%

Other-29%

 

2015 Food Truck Startup Costs Average Cost

Food truck (includes wrap & equipment)- $90,000

Initial product inventory- $1,500

Permits and Licenses- $300

Website- $100

Register/POS- $500

Uniforms- $500

Paper products- $250

Misc. Expenses- $500

Pots, Pans, etc.- $1,500

Fire Extinguisher- $150

Total Startup Cost- $95,300

 

Now, I’m sure there will be plenty of restaurant owners who complain about the 2015 food truck industry statistics, but if you look at the 2015 restaurant industry statistics, you’ll notice that the restaurant industry is still growing across the U.S as we make our way out of the 2008 recession.

2015 Restaurant Industry Statistics

2015 Restaurant Industry StatisticsData

 

Annual Restaurant Industry Revenue- $709,200,000,000

Total number of restaurants in U.S.- 616,008

Total restaurant employees- 13,000,000

Number of daily U.S. restaurant patrons- 50,000,0002

 

1.2 billion dollars in may seem like a drop in the bucket from the restaurant number of 709 billion, but when you look at the food truck industries size (which seems a bit conservative) compared to the number of restaurants, you can see how big the 2015 food truck industry statistics are.