We're going to go into those three questions from our subscribers about renting a food truck, as well as how much it costs to do so. Another issue we have is, if you buy a used food truck, what are the ballpark estimates for getting a used food truck? If I'm looking for anything that isn't brand new.
Then there's the question of how much our food truck is allowed to carry. So, I'm scrolling through my list of questions from you people. As a result, we'll also look at the permit issue. So, before we get started, as always, welcome to marketing. If this is your first video, we have over 800 free videos for you to watch by just subscribing and pressing the bell notification. And you'll be the first to see all of our new films each week. These videos will undoubtedly help you get started in practically any type of food niche that you're looking for if you're a food entrepreneur like me for the past 12 years. So let's get right to work. So the first inquiry was how much does it cost to rent a food truck? So, Damien, what makes you think I'd rather rent a food truck than buy one? When you start any form of business, there are a number of different aspects to consider.
I know, especially when we first started our food business and opened our Italian bakery where we are now, the budget we had, the financing we had at the time, all of those things have a tendency to dictate what type of business you're going to start and how big of a business you're going to start based on the size of your finances and available credit if that's what you have. As a result, renting a food truck is a terrific option because you won't have to make such a large investment. In today's market, a brand new food truck will set you back at least $85,000 to $90,000, depending on the size, type of equipment, and a few other factors. But, for the most part, you're looking at a minimum of $80,000 to get started with a well-fitted, well-done truck.
And that's on the low end of the scale. So, no pun intended, renting a food truck allows you to get your hands dirty. Is your food truck business off to a good start thanks to him? Did he start putting your plan to the test? You may rent it for a set length of time, and if your business fails, you won't lose all you put into it. All you have to do now is return the truck. You rented it for a period of six months, eight months, or a year. You tried it, but it didn't work. But if it works, you'll have the opportunity to save money and then either lease or rent it to own it. Then you get to the point where you don't have to commit as much money up front. Now. That's a hard situation. When you're looking to rent a food truck, there are a few things to consider.
So, first and foremost, the truck's age is critical. The tendency to have trucks that are several years old may have a tendency to break down, mechanical issues, engine problems, and other issues. So, the truck's age is obviously something you should consider, okay? The number of miles on the truck, the engine, and the overall engine itself, I personally would recommend having the engine looked at by one of your mechanics, by someone who is on your side or someone you know, who can look at the engine and make sure that everything is in working order before you rent a truck. The terms are the next thing you should consider. So, how long does the rental time last? Okay. Is it something that the person who will rent it to you will wind up having you in for a year, at a time when you don't want to be in for that long, or if you want to do six to eight months if they're flexible enough to do a shorter-term rent, that's something you should look into as well.
The next step is to determine the deposit amount. When you sign a contract to rent a food truck, you may be required to put up some form of collateral or even a deposit. So it is something that is up to you because you must consider your budget. When you went to sign the rental agreement, how much money did you actually have? And it implies that you are able to put up a front, because you must also keep in mind. There could be other things you need to do to the food truck or things you need to remove from the food truck. As a result, not every fruit truck is set up and targeted toward the type of culinary product you might manufacture. Some food trucks have deep fryers because they serve a lot of fried chicken and other fried things, but you're serving veggie wraps, so you may not need one.
So there's a lot of equipment and things inside the truck that, while the truck itself may be excellent for what you need it for, the equipment inside will simply not function. Now, as I indicated earlier, you'll want to make sure that the equipment you have in there is clearly suitable for what you need and is versatile enough. Is it okay if I put this on here? Is it possible for me to bring in an extra piece of equipment? Is it possible to turn on an oven range? Can I bring something else in to make sure it has the proper ventilation for your fryers, if that's required or required in the city where you're getting your license? So there are a lot of various metrics and considerations to make.
You should also inquire about the flexibility of the individual who rented it to you in terms of customizing and personalizing it. This takes me to the next base. The wrap, the food truck wrap, which is obviously the exterior, the external component of the food truck, is the next thing. You want to make sure it's evident that it's anything related to your company. Now, if it already has a wrap on it, such as John's burrito, burrito, truck, and you're not selling burritos, you should see if you can change the exterior part of the truck, at least for the term of the loan. Is it possible for me to wrap the truck in my own design? As a result, every aspect of the leasing agreement is highly changeable. There are many factors to consider, but you want to choose a truck that is right for you.
Is the proprietor willing to be a little flexible? How long does the real rental agreement last if you have to bring in or take out equipment? After that, there's a lease-to-own option. Perhaps the individual who is renting it to you is hoping to get rid of it and sell it at some point. But maybe they can make a lease-to-own deal where you can buy it out at the end of a rental period or lease agreement and pay the remaining amount owing for the truck, or even buy it outright. So that's another approach, another variable to consider when you're asking how much do food trucks cost to rent. There are a lot of things to consider, but finding a truck and then finding someone who can satisfy your demands are two of them.
That's where, when you can meet at the medium, you'll be able to read that truck for yourself. Then there's the question of how much used food trucks cost if you want to buy one. So, how common are food trucks? As a result, this relates to some of the points I made earlier. The one thing about renting a used food truck is that you have to make sure the vehicle is clearly prepared to accomplish what you do before you sign a lease. Okay. And that brings us back to the issue of equipment. Is it compatible with the equipment you require? If you're buying a secondhand truck, find out why the owner is selling it. Is it simply because they want to get out from under the truck, the business, or are there numerous concerns, such as electrical or engine problems, with the truck?
You should go over the truck with a fine-tooth comb, since even at the low end, you're going to spend a lot of money. Even if you locate a truck for $20,000 to $25,000, it's still a significant amount of money to spend on a used piece of equipment that you'll utilize to run a business and try to make a livelihood or even make a profit by attending different events. So you want to be certain that the truck itself, as well as the engine, are in good working order. If it does, make sure it's rectified before you buy it. Does it have any electrical or wiring issues? Does the equipment on it now perform properly, even if it's excellent for your needs and it looks good? Just because you're buying a used truck doesn't mean you're going to have a lot of issues, but you definitely want to make sure you check over it with a fine-tooth comb and any issues you find are either reduced in price since you're buying a used food truck or you buy it.
Then you double-check that it's either in the contract or that they'll remedy it before handing over the truck. So you'll want to double-check that it's fully functional. Also, are there any other concerns with permits, licenses, or tag issues with the truck itself that you should be aware of before purchasing a secondhand truck? Remember that when you receive a license and a city-issued food truck permit, you should check to see if there are any pending issues or anything outstanding with it, since this could affect your ability to buy a used food truck. Okay. So, how much does it cost to get a food truck permit? Now, this is a rather broad question.