One more chance...

Author
TravelingPan
Junior Burger
  • Total Posts : 14
  • Joined: 2013/09/17 05:34:00
  • Location: Martinsville, IN
  • Status: offline
2013/09/17 06:41:42 (permalink)

One more chance...

Early in life I like many others worked in food service. From upscale country club settings to upscale italian restaurants to fast food and pizza joints. It was my dream to open my own kitchen "some day" and as life beat me down and forced me from one career to another I lost sight of that dream completely. I'm not a "work for the man" kind of guy and as such have spent nearly 20 years working for myself in various trades from owning a small landscaping business building retaining walls to owning my own tractor/trailer and contracting to United/Mayflower to hustling kirby vacuum cleaners door to door. I'm at a point in my life where I am now essentially unemployable (primarily due to my inability to watch others reap the benefits of my labor while I struggle to feed my children), haven't worked since last November, and am nearly out of options. I have decided that following my dream of opening a restaurant is my best and perhaps only option left at this point however in this particular fiscal environment I cannot justify borrowing upwards of 750k only to be locked in and stuck with whatever brick and mortar location I can muster. In fact I cannot really even justify pulling equity from my home in this unstable market... I am convinced that a food truck is the way to go and that I likely do NOT want a partner to share profits with (if indeed there ever are any). My first question for you is simple enough... Is it feasible to put a truck on the side of the road for under $20k? I know there are some variables to consider and as I understand things, here in Indiana we have some pretty basic and relaxed regulations for this type of venture. Next question... What sort of annual fixed expenses/costs should I expect? Is it reasonable to plan for around $20k in fixed costs annually? I have a million more questions already and am constantly adding to the research journal I've started for this project but will leave it at this for now as I am already gleaning much useful info from this forum and hope to get to know many of you over the next few months as I finalize my decision and put my plans into motion. Thank you for any and all input you can offer a FNG!
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