173: Bringing in The ‘Dough’ with Brent TheFoodTruckCEO (Part 2)
Welcome to episode 173.5! Yesterday you heard from Brent, a former registered nurse who paid off over $100,000 in debt and started a mobile pizza truck! Brent’s original interview was recorded back in January or 2020 and was scheduled to be released right around the time that the pandemic hit and shutdowns began. Since it was released yesterday we thought it’d be a great idea to have him back to talk about all his progress since then!
Since we last spoke to Brent, he’s added a whole other food truck to his business and has hired on more staff. Now he’s cooking up (and selling out) pizzas wherever he goes. He even has a new social media handle, he’s TheFoodTruckCEO!
Brent talks through the challenges he’s faced this year, the wins he wasn’t expecting, and advice he’s given to young entrepreneurs just starting their business. As you heard in the last episode, Brent paid for his first pizza truck with savings he had, allowing him to finance the business debt-free. A year later, Brent still agrees this was a good idea, as has less stress and far more creative freedom being able to make decisions without having to worry about paying off a large amount of debt.
What are the profit margins of pizza and food trucks? Brent shares his margins, his pricing, and success stories, showing that regardless of how profitable your product is, you’re always going to have to put in the work to get it to where customers are willing to buy. Brent manages a very tight ship and is still learning the best ways to hire, manage, and make delicious pizza (without burning it)!
In This Episode We Cover
- How Farm Fired Pizzas has grown since we last talked to brent
- Why starting your business can be much harder, but much more fulfilling than a regular job
- Why staffing is such a big hurdle when scaling and expanding a business
- Using debt vs. using cash to start your business venture
- Becoming competent in a trade before you start a business focusing on it
- Being flexible with your business venture and embracing failures
- Raising prices in a way that works for your bottom line and your customers
- And So Much More!
Check the full show notes here: https://www.biggerpockets.com/moneyshow173-5