Mobile food businesses are a fast-growing industry in Australia. Whether you’re thinking about a food van, food truck, coffee van or something else, we can help you fund your business.
As with any new business, you’ll need some capital to get you started. For a small initial investment, we can assist with custom finance solutions to suit your plans and budget, so you can get on the road, and fast. Don’t have cash, you may be able to use other unencumbered vehicle/trailer as additional security/deposit.
We understand the challenges that come with seeking food truck financing, which is why we help clients with food truck loans. These loans help new restaurant owners get the financial opportunities they need, such as a rent to buy food trailer or truck.
We can assist with financing new, second-hand, refurbished, converted and custom fit-out food trucks and trailers, including:
The fit-out may need to include refrigeration, plumbing, commercial appliances and kitchen fittings.
Most people believe that mobile food trailer finance is difficult or unachievable, but it’s easier to acquire than you would think.
With our experts trained to help, we have many options to assist with your mobile beverage trailer finance. Most start-up owners choose to use a Chattel Mortgage or Rental Operating Lease.
To give you an idea, here are the most common financing solutions available:
A Chattel Mortgage is a commercial finance product where the customer takes ownership of the vehicle (chattel) at the time of purchase.
Under a Chattel Mortgage the financier advances funds to purchase a vehicle, and the customer takes ownership of the vehicle (chattel) at the time of purchase.
The financier then takes a “mortgage” over the vehicle as security for the loan, by registering their interest over it with the PPSR.
Once the contract is completed, the security interest is removed giving the customer clear title to the vehicle.
Equipment Rental is an agreement between a financier and a customer whereby the financier buys the equipment on behalf of the customer and rents it back to them over a fixed period – 5 Years.
The customer simply makes fixed weekly monthly rent payments, and after the first 12 months has opportunity to buy outright or refinance or continue renting. Upfront they know annual payout figures, giving some cashflow certainty to a business.
Getting the funds together to start a mobile food or beverage business isn’t easy. If you decide to finance yourself then you’ll have to start saving now. It could take a very long time, but you won’t have any debt.
Your accountant may advise that it is not good financial management to use up all your savings or super fund for an unpredictable venture. However, if you are confident, you have the budget, it can be a good way to go to avoid debt.
Be sure to do your research and weigh up the risks. If you’re a business owner that is determined to do it on your own, financing yourself is a good option.
We may also be able to assist with unsecured business loan once you are operating and can show good income via bank statements.
As you can see, there are a lot of things to consider with each financing option. It pays to speak to someone who understands all of them and can give advice based on your unique situation.
We can help you decide based on what’s most important to you and your budget.
We always suggest you speak to your accountant to ensure your choice is best for your financial set up. When you’re confident about your choice, you’ll have less stress and can put all your energy into building a successful business.
When it comes to food trailer financing, you are the only one who can decide which option is best for you. No matter which you choose, Start Fresh Finance is here to help. Get in touch with us to chat about your situation and what you’re looking for.
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