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Explore Food Truck Franchises & Businesses

Food Truck Industry

General Industry

Although Food Trucks may seem like it is a fairly recent development in the food industry, it has actually been around for quite a long time (since the 1920’s) and it is quickly becoming more and more popular. The market size has been steadily increasing over the past few years. In fact, it multiplied its industry-wide value by four from 2012-2017, and it is still on the rise. The average industry growth from 2015-2020 was around 7.5 percent. The current market size of the Food Truck industry is 1 billion distributed throughout 24,600 businesses. It is an industry that has developed important innovations over a short time, and by quickly responding to the changes in consumer demand, it has been able to successfully meet the needs of American consumers.

Food Truck Industry Trends

The Food Truck Industry has been growing more and more popular over the past few years. The success of food trucks can be attributed to the diversity in options and typically reasonable prices, as well as the transportable setup. Food trucks are also doing very well in creating a positive, familiar dynamic with their consumers. They are finding ways to be resourceful and valuable to their customers by partnering with food delivery services and other food truck owners. By assessing their consumer’s needs, they are shifting the focus to customer relations and promoting positivity with good food.

Key Industry Numbers

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Paid-in-Full Rate

The Paid-in-Full Rate is when the SBA loan is fully paid off by the small business owner including interest, indicating financial strength.

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Charged Off Rate

The Charged Off Rate is the SBA loan default rate where loans have no confidence in being paid off by the small business owner.

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SBA Loan Success Ratio

For every 8 SBA loans fully paid including interest, 1 SBA loan was unable to be paid back, or defaulted. 

*SBA Loan Data from 2010-2019

*Non-Franchise Businesses taken into account: 44,851

Food Truck Franchise Review

One of the fastest growing sectors of the restaurant and food industry is the consumer demand for quick and easy, reasonably priced and, obviously, delicious meals. In other words, meals coming from food trucks! The food truck business has been very successful under the franchise system, and more and more food trucks are becoming a part of the franchise network. The influx of COVID Restrictions at more traditional eat-in restaurants could also be a significant contributing factor to the popularity of food trucks in 2020. No matter what the reasons behind the recent surge of Food Truck Franchises may be, there is no denying they are very popular, particularly with a younger crowd.

Food Truck Franchising Trends

One major trend in the food truck industry is that the truck-franchising model has begun connecting with new franchisees to explore a more hybrid type of business opportunity that combines a more traditional sit in restaurant stores and the mobile style of food trucks. Another popular trend has been gourmet food trucks. Gourmet food trucks include foods like tacos or cupcakes on their menus, and they are very popular for consumers to rent for events and (more traditionally) posted on the street or in lots.

Average Food & Beverage Franchise Industry Percentage Fees

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Royalty Fee
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Marketing Fee

Standard Food & Beverage Franchise Industry Investment

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This metric is the standard industry investment amount for a single unit franchise investment in this industry. Our research and analytics team analyzed over 523 franchise concept investment breakdowns in order to calculate this figure.

0 %
Paid-in-Full Rate

The Paid-in-Full Rate is when the SBA loan is fully paid off by the franchisee including interest, indicating financial strength.

0 %
Charged Off Rate

The Charged Off Rate is the SBA loan default rate where loans have no confidence in being paid off by the franchisee.

0 :1
SBA Loan Success Ratio

For every 9 SBA franchise loans fully paid including interest, 1 SBA franchise loan was unable to be paid back, or defaulted. 

*SBA Franchise Loan Data from 2010-2019

*Franchise Businesses taken into account: 15,203

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