Thinking Of Starting A Food Truck Business?
Jun 16, 2023
Capital is one of the biggest hurdles when it comes to opening a business. That’s why some first-time entrepreneurs are opting to start a small-scale food truck business. The question is, how much does it cost to start one? According to SME Corporation Malaysia, it is estimated an average of RM15,000 – RM20,000 is required to start a food truck business.
But first, let us see what makes food truck business so appealing:
Lower costs, greater flexibility – Due to lower operating cost and space rental, it’s easy to set up and move to a new location from time to time.
Catering opportunities – When it comes to catering, a food truck is flexible to cater to various events – be it concerts, sporting events, music festivals or even private parties.
On-the-go brand visibility – Unlike physical stores that only attracts customers within its vicinity, a truck acts like a moving billboard wherever it travels.
Easy customer feedback – Due to its casual setting, food truck owners can get immediate feedback from customers, be it positive or negative.
Below are the costs to start a food truck business according to SME Corporation Malaysia:
Register with SSM (Compulsory) – RM100
Register with Bank (Compulsory) – RM200
Good Driving License (GDL) (Compulsory) – RM500
Local Business Permit from Local Authorities – RM500/Year
Working Capital – RM3,000 (minimum)
Food Truck Deposit (minimum 10% from total price for e.g. RM55,000) – RM5,500
Food Truck Installment – RM600/month
Stickers, Signboard and Bunting – RM800
Food Serving Course – RM100 – RM200
Preparation for Raw Material – RM4,000 – RM8,000/month
Maintenance – RM300
Source: SME Corporation Malaysia