Toronto’s food truck scene has been getting a lot of attention recently. And here at TFT, we’ve also been getting a lot of inquiries about how to start a food truck.
So we thought we would put together a list of the top ten reasons to get into the mobile food business here in Toronto.
Here they are:
1. Incredible Demand
Despite being the 5th largest City in North America from a population standpoint, Toronto’s food truck scene is still in its infancy. With street food all over our television screens and more popular than ever, it means there’s currently a huge gap in Toronto’s market that is not being met. Just look at the lines at any of the street food events in case you have any doubts.
2. Low Competition
This time last year, the Dallas Fort-Worth area had six food trucks. Now they have 52. Currently Toronto only has 4 trucks native to the City so right now there’s not a lot of competition.
However, more trucks are coming. We get frequent emails from people telling us they are going to start a truck or they want information on how to do it. If you can move quickly right now there’s a great opportunity to grab market share before the scene here gets really noisy.
3. No Menu Restrictions
Despite backwards bylaws when it comes to where trucks are allowed to vend, food trucks in Toronto actually have it pretty good when it comes to their menu. Food trucks are considered mobile restaurants meaning they can cook anything a restaurant can. Therefore aspiring food truck owners don’t need to worry about their culinary creativity being stifled.
4. Abundant Media Coverage
If you crave the limelight, then open a food truck. Food trucks are magnets for media coverage right now because they are new, exciting and trendy.
Every one of the new ‘gourmet’ trucks that have launched in Toronto has had a healthy amount of media attention – not that they haven’t deserved it of course.
5. Easy Marketing
What’s really allowed the food tuck craze to take off is social media. Social media allows people to follow food trucks and stay up to date with their locations and changing menus. If you can master how to use Twitter and Facebook to market your business, then you’re off to the races.
Of course, solid branding, a killer truck wrap and awesome food are critical too. But social media makes it easier than ever for customers to find your truck and connect with your business.
6. Higher Profit Margins than Brick and Mortar Restaurants
Unlike a brick and mortar restaurant, food trucks have far less overhead. No rent and fewer staff to pay means higher profit margins for owners.
According to Zane Caplansky, his food truck Thunderin’ Thelma has a 30%-40% profit margin while his deli generates a 10% margin.
Update: According to some other trucks, these numbers aren’t representative of their business and are higher than what they experience. It should also be noted that while overheads for a food truck are lower than a brick-and-mortar restaurant, the sales figures are relative to these costs.
7. Safe Operating Environment
While this may come as a bit of an afterthought to many, having a safe place to vend is very important for running a food truck business. They operate on the street and handle cash after all.
And as far as major metropolitan cities go, Toronto is one of the safest. According to Statistics Canada, crime has been dropping in Toronto since 1998. That’s good news for food truck operators.
8. You Get to Be Cool
Right now owning a food truck is cool. Gourmet street food is relatively new in Toronto and finding the trucks is still a bit of ‘foodie treasure hunt’.
Currently, their biggest customer base is the 25-35 year old ‘hip’ demographic. And the great thing about being popular amongst youth is that you have the opportunity to generate a loyal customer base for many years to come.
9. Toronto is Food Obsessed
In general, Toronto is a food obsessed city. We have an amazing restaurant scene and a population that isn’t afraid to try new and unfamiliar things. In fact, many seek them out.
This bodes well for aspiring gourmet food truck operators who may be thinking of offering unique and new culinary concepts.
10. The Toronto Street Food Project
One of the biggest hesitations people have with opening a food truck right now is around the current bylaws in Toronto that restrict where a truck can vend.
Well the Toronto Street Food Project is here to change all that. The TSFP is a campaign that connects Torontonians with their City Councillors by letting them quickly and easily send them a letter or a tweet requesting that the current bylaws be relaxed and that the issue becomes a priority at City Council.
And so far the campaign is off to a great start with over 1,000 letters and 1,000 tweets sent in the first week alone. A number of Councillors have already indicated they are in support of making street food more diverse and accesible. In other words, things look promising.
Toronto street food is more popular than ever and for aspiring entrepreneurs it’s a great time to get in on the action.
We should mention that operating a food truck is by no means a walk in the park. To do it successfully you need a love of food, some serious skills in the kitchen, dedication and a willingness to work extremely hard, long hours for your business.
About the Author: Mark Macdonald is the Founder of Toronto Food Trucks. He is a Toronto freelance web designer and a street food movement supporter. Get more from Mark on Twitter and Google +.
