The traditional, old-fashioned steak and hotdog roulottes have undergone a tremendous upgrade in recent years, following a trend already visible in major cosmopolitan centres around the world, abandoning their unattractive format and adopting more ingenious and attractive forms for the consumer.
One of these are the so-called "food trucks", which add variety and aesthetics to the satisfaction of the most restless stomachs, making the whole act of eating a dog or a hamburger a more interesting experience.
Already a regular feature of festivals and the busiest streets and parks in Portuguese cities, food trucks end up being more of a seasonal activity, as their busiest period is in spring and summer, when more people are out and about.
However, due to their greater capacity for movement and versatility, in the colder seasons these food trucks end up being used for one-off events.
Food Truck: what is it?
In practice, a Food Truck is the transformation of old-fashioned trailers into vehicles with a more appealing design and aesthetic that express a certain and very marked concept related to the fast street food they sell.
However, it's not just in the use of iconic old van models that food trucks in Portugal distance themselves from the old trailers, as they feature mobile kitchens that, in many cases, are nothing like the kitchens in a luxury restaurant, allowing high-quality dishes to be prepared at takeaway prices.
From traditional hamburgers or hot dogs to vegan and fusion meals, coffees, smoothies and a variety of desserts, the food trucks offer a selection of quick meals that allow those with busy lifestyles to eat more healthily and in less time in the hustle and bustle of urban life.
Food Truck: how to get started?
According to the ASFP (Street Food Portugal Association), this sector has an annual turnover of around 50 million euros and is responsible for 7,000 jobs, and the trend is set to grow.
If you have a winning idea and want to be part of this sector to take advantage of the growing consumer interest in food trucks, we'll help you with the task by revealing the average investment required and all the steps on how to set up a food truck. Get started!
Step 1: Design an investment plan
Although it's usually cheaper than opening a restaurant, you need to have an investment plan to open a food truck. Firstly, you need to take into account the purchase and conversion of the vehicle.
A good solution to avoid the expense of installing worktops, ovens and electrical and refrigeration systems is to try to buy a vehicle that has already been transformed into a food truck and then decorate and paint it to your liking.
If you choose to buy a new vehicle, the investment in a food truck will be around 40,000 euros:
- vehicle costs;
- suspension reinforcement;
- adapting the interior space
- electrical, cooling and water systems
- lighting
- oven and grill plates
- paintings and decorations.
According to Street Food Portugal, this initial investment, although large, can be recouped in between nine months and three years.
Step 2: Licence the food truck
As with other types of business, food trucks need a licence to operate.
In addition to the so-called "Licenciamento Zero" (Zero Licensing), which will allow you to license the installation, modification and closure of your food truck, you will also need to obtain a licence to carry out street vending activities, which must be requested from the town hall where your food truck will operate.
Also pay attention to Decree-Law 67/98 of 18 March, which regulates hygiene and safety.
Step 3: Insurance
Car insurance, workman's compensation insurance, multi-risk insurance and third-party liability insurance for operation (food sector) are the four essential insurances to be able to open your food truck safely and which, in total, could amount to around 2,500 euros.
Step 4: Look for financing
Given the initial amount you'll be required to pay, it's natural to look for sources of finance.
Apart from crowdfunding, so-called business angels (private investors) and "peer-to-peer loans" that allow you to receive funding from private individuals via online platforms such as Raize, the most common forms of funding for food truck investment are state support and personal loans.
In the first case, the state offers programmes such as Startup Portugal Momentum, which helps you start your own business, and Portugal 2020.
As for personal loans, these solutions offer the possibility of financing between 5,000 and 75,000 euros with the possibility of repaying the amount requested in up to 84 months.
In addition to this wide range of amounts and terms, personal loans can guarantee you a quick response to your request for financing, since with the digitalisation of banking services, the entire contracting process is carried out online.
This is the case with personal loans of UNIBANCO, a brand that, like REDUNIQ, belongs to the universe of UNICRE.
In this case, after entering the page you will immediately find a personal loan simulator which will allow you to calculate the monthly instalments for loans of between €5,000 and €75,000 by cross-referencing them with the term you want to take out (between 24 and 84 months) and the specific interest rates for each choice, as well as the possibility of insurance to guarantee payment of the instalments if you lose your income unexpectedly.
If you're happy with the result, just click on the "Apply Now" bar and you'll be redirected to an online form which you'll have to fill in and attach the required documents. After this, UNIBANCO will analyse your request and, if it is approved, you will have the money in your bank account within a few working days.
Step 5: payment solutions
There are also payment solutions which, as you can see, must be in line with the nature of the business itself and the payment habits of consumers, above all being quick and simple to avoid queues and boost sales (important when the food truck has close competition, such as at a festival or in a busy area).
In order to provide you with a secure, fast, efficient and, above all, low-investment means of payment, REDUNIQ offers you the payment terminal REDUNIQ Easy and REDUNIQ Soft.
REDUNI Easy
For a monthly fee tailored to your business, this totally free payment terminal, with no membership fee, loyalty period or minimum revenue, allows you to accept payments with credit and debit cards (Visa and Mastercard brands) for contactlessThis gives you another way to increase your sales and, consequently, your turnover.
The advantages of the payment terminal REDUNIQ Easy for your business are:
- No membership fee, loyalty period or minimum revenue.
- Simplified payments, using contactless technology, which enables your business to accept national and international credit and debit card payments by card, contactless, MB WAY, Google Pay and Apple Pay.
- Monthly fees adjusted to your business, i.e. your business won't pay for what you haven't invoiced, as you'll pay a monthly fee according to your business's monthly invoicing volume.
- Up to €7,500 in monthly invoicing, you won't be charged any fees.
- Ideal for seasonal businesses, as the monthly fee goes hand in hand with the turnover of your business.
- Allows your customers to pay by card in their home currency in a secure and transparent way - DCC Currency Conversion.
- Free access to REDUNIQ Customer Area and all the services included, such as communications, consumables and terminal maintenance, as well as access to the 24-hour customer support line.
REDUNIQ Soft
Ideal for mobile businesses, this payment solution allows your business to accept Contactless and MB WAY payments, without the need for a terminal, quickly and easily via a secure APP on your smartphone or tablet.
So, whether by contactless card or MB WAY/Google Pay/Apple Pay (QR Code, mobile phone number or NFC), you will receive the amount owed to you by the customer immediately, regardless of your location.
In terms of advantages for your business, the REDUNIQ Soft presents the following,
- Accept payments via NFC, QR Code, mobile phone number or Contactless simply and securely, without the need for a POS;
- Accept payments anywhere, wherever your business is;
- Access the application on your smartphone or tablet;
- A more digital service, without the need to print tickets, and therefore more sustainable.
- Accept credit and debit card payments, national and international, by contactless, as well as MB WAY and digital wallets;
- No monthly TPA fee.
