Chris Kornelis (WSJ, Food Trucks)


Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

This segment of the financial exchanges brought to you by the leader bank if you were looking to diversify your portfolio. Precious metals are Smart investment gold and silver bullion coins now available. At all leader bank locations or call 877. 6917900. Or log on to leader bank dot com for more information member FDIC. Chris Cornell us from wall the Wall Street Journal joins us now you talk about. What it takes to run a food truck Chris thanks for coming on with us. Chris is as easy and glamorous as everyone thinks it is. Exactly exactly what is it that you didn't think it's just like in the movies. Jesse just like the movie Shep you just open up a food truck people come over and all of a sudden you're in business. Hey this can go anywhere in the country Baghdad. What's let's. That's the toughest part actually mean you you interviewed a number of of food truck owners what kind of powers to they put in first of all. And it's very similar to what you had here compared to let anybody who's. And signed restaurant tour which is you know if there's an open here there and if it's not open you're there. And the they're they're focused on Percy very meaning tallied it's called security audit opinion on the then depending on the season and he's. You know making sixes and developing recipes and certain food okay. Looking at the you know the hours that you work is there are substantial profit that a lot of these food trucks are able to generate. You know. Dependent on the particular and it is still love you aren't going giving me if they can get you know 12% Italy 81210%. They're feeling pretty good. And you know this. Mr. Beebe he ran. Three trucks to hot dog cart and he brings home about 40000 dollars a year. Looking at the the food truck business it also seems that. You know you've got to move that thing around to where the people aren't a lot of cases if if their big events and things like that you've got to be able to travel around so also your factoring in okay have got to you know take my age yet gas money in order to get where I'm going and and the upkeep of that truck is well. So this is where I got released and I did not expect to hear this and I think this is what I've told a lot of would be. After the truck owners don't take into account. Every city every county and certainly every state has different regulations. For our good tracks so. If you are here today you know if you work in. Yeah thinking King County there's a set of regulations. For that city in that county but if you've covered call writing forward. Eastern Washington community unity just go to different carrier different cities there's also another. That it expectation that regulations there which need to make yourself aware of from. From. Business licenses and different in different forms of regulation you know go to work. And backing get. Expensive then to some degree but I can do you know you've got attacked it said you know to me you know it's time night stand making sure that they have their rating assurance. For every event that I'm going to everybody is different because insurance regulations person when he owned a restaurant but. One can anyone city once they don't expecting. And into looking at the the cost. They add up pretty quickly in the margins just as you'd expect on a restaurant they're not that fat in a lot of cases. Now they're not and they get eaten up really quick too if you're you know if you're not ordering correctly. And if you're. You know. If you're not being as efficient as possible for example the guys I was back into it said. He doesn't have a lot most of his increased delivered because if he doesn't think separated himself he didn't pay 15% on and on. Osu just even something like that trying to get costs down news you guys like this have to be able to you know kind of look around. Do we the growth of food trucks seems like they're everywhere now. How are they growing act quickly if it's so hard to run. It's. You know compared to a restaurant. You don't get it looked certain looks somewhat easier doesn't it and don't you know that you're just. That's a good question about whether president you know the market's going to people are more interested in buying. The guy out of has attracted may work. I've ten years ago and it's kind of amazing to reconsider that an assistant who already ten to twelve dollars and a couple of the bathroom. Very true. Chris we appreciate the time thanks for joining us and that's Chris Cornell us from the Wall Street Journal talked about the food truck race I was in old lyme Connecticut. And I got I pulled pork sandwich any good from the food truck it was he best pull. Pork sandwich I've ever had no we have taken down South Carolina you know well let go that may be true I mean I've had some of the best food I've I've had from fruit trucks and I used to tunnel doing a lot of great things well 75 grim when I was in turning in New York there is this grateful lawful truck that I used to go to almost every day for launch. It was just phenomena. Not a deal it was a lot better before they started regulating. Because the yeah I had more of them talker. And in there was more competition now. To his pointed to the interviews point eight you. To be in the business it's a low margin business these guys work like dogs in any Nolan. Yeah or more as a part like as a canceling booze. Yeah destructive bigot so Boozer weed they make lots of got a killer food truck deal him him telling. And I'm insult someone want to know I'm gonna sell to someone. Thanks for bring and I wanna it's big business and it a nice guy okay I really just waiting I went to a wedding. And the wedding was catered food dressing that a couple times that was act out and Ed you know it is as Mexican food. And it was fantastic we've tacos it was yeah it in and I went back for thirds. But she did I those back for seconds video boards they have to be equity when they don't I don't really get right back for third you know that oatmeal for breakfast you can do whatever you want after price cancels that out yeah.