Without mincing words, the street food business is gaining popularity in many cities all over the world. More people are patronizing them on a regular basis and a great number of them will remain in business for a long period of time.
Street food is becoming many people’s favorite because they offer different types of menus to their customers. A street food business is usually run with food trucks, kiosks or food carts. They are often seen in bus stations, shopping malls, stadiums, office parks and airports.
Smart owners of food trucks utilize high quality restaurant equipment like a commercial charcoal grill and a deep fryer to prepare their menus efficiently. Perhaps you’ve been thinking about starting a street food business, here are some of its advantages and disadvantages.
Advantages
Increased profits
People from different walks of life are recognizing street food as a faster alternative to traditional restaurants. Typical examples include the employees of this generation and young people generally. Street food is affordable, this in turn lead to more customer and better revenue.Flexibility
Moving food carts or trucks from one location to another is quite easy. People engaging in this type of business can quickly decide to relocate if the market conditions are not suitable. There is no stress like that of opening a regular restaurant.Low costs
Although a lot of effort is involved, running a street food business requires low cost when compared to a standard restaurant. This is because less amount of money is spent on other areas of the business such as business rentals and electricity bills. Many street food entrepreneurs prefer using locally sourced food products in their menus. It is also easy to set up.Creation of jobs
Unemployed individuals can decide to set up a street food business in order to sustain themselves. They may hire extra hands for the smooth running of the business. This move ensures that jobs are provided for other people too.
Disadvantages
Difficulty in obtaining funds
An entrepreneur kick starting or expanding his street food business usually needs funds to put some things in order. Banks rarely give out loans for this kind of business due to the risks that comes with it. Getting funds from other sources can also be a daunting task.
Stiff competition
It’s possible that there are other street food entrepreneurs➞ in your locality. Some will even offer better services and menus to people. In this type of situation, it’s imperative to stay ahead of competitors so as not to go out of business. Exposure to unfavorable weather conditions
When running a street food business, understand that it will be greatly affected by seasonal changes and various weather conditions. If your outlet is a food cart or kiosk, little or no shelter is available for protection.It goes without saying that weighing the pros and cons of a street food business can help to determine whether it’s a venture that you can delve into. Even though there are disadvantages, creating a strategy that will assist in minimizing them should be a priority.
0 comments:
Post a Comment