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What if I want to sell my truck?
Reviewed by Editorial Team

Asset sale: you are selling the vehicle, equipment, and small wares. Buyers are new operators or existing ones expanding. Pricing tracks the used market — industry reporting puts used trucks at $30,000-$80,000 depending on age, miles, and market. List on Roaming Hunger marketplace, UsedVending, and Facebook Marketplace. Get a bill of sale and transfer the title cleanly. Most cities do not transfer permits; the buyer reapplies. Business sale: you are selling brand, recipes, social accounts, customer list, contracts, vendor relationships, and the truck. Buyers pay a multiple of seller discretionary earnings (1.5x-3x SDE typical per BizBuySell). Business sales take 3-9 months and require clean books for 24 months, an operations manual, an asset list, and a non-compete from you. Hire an attorney to draft or review the purchase agreement.

Common mistakes
  • Listing a business sale with messy books — buyers walk or discount aggressively.
  • Forgetting that most cities do not transfer permits; the buyer needs lead time.
  • Skipping the non-compete; buyers will price the deal down or pull out.
Related FAQs
How do I structure my LLC?
File LLC articles of organization with your state secretary of state, write an operating agreement (even solo), get an EIN, open a business bank account, and elect S-corp tax treatment only after net profit reliably exceeds the IRS reasonable-salary threshold. A CPA should run the math.
How do I get a food truck loan?
Options include SBA 7(a) loans (best rates, longest underwriting), SBA microloans (up to $50,000), traditional bank business loans, equipment financing for the truck itself, and specialty lenders. Strong personal credit, a clean business plan, and 10-30% cash down typically win approval.
Should I use a CPA from year one?
Yes. A CPA familiar with food service costs $1,500-$4,000/year for a small operation and saves multiples of that in correctly filed payroll taxes, sales tax, entity choice, depreciation, and audit defense. DIY is realistic only if you already have small-business tax experience.