News

How much to launch a food truck in NYC? $100K

September 23, 2019

A food truck in New York City requires a start-up cost of $100,000 — at least that's the claim of one food truck owner, according to a CNBC report.

Howard Jeon, co-founder of Yumpling, detailed the following estimated costs:

• $20,000 for the truck.
• $20,000 for the permit.
• $45,000 for equipment and build out.
• $10,000 for three months of working capital.
• $5,000 for miscellaneous expenses, including insurance and legal fees.

Commissary space for parking runs about $1,000 to $1,500 per month, he told CNBC, while commercial kitchen space costs $500 to $1,500 per month. Gasoline and propane run about $600 per month while parking tickets will likely cost about $600 per month.

After operating a food truck for two and a half years, Jeon and his partners are opening a restaurant on Vernon Blvd. in Long Island City, Queens, in October. The cost to start a restaurant is around $500,000, he said.