General Advice for a Food Truck Park

[Michael Wright]

Howdy Everyone,

I am finally looking to take my first steps into real estate by setting up and leasing spaces in a food truck park. The land belongs to my dad but he is allowing me to do all of the footwork to start up and operate the park. I know the land is in a good spot due to the growth around the area. We already have one "tenant" (I use quotes because it's a friend's food trailer) and are looking to add a couple more spots and make the property more "official" as a food truck park. I am nervous going into this because I am not sure what items I need to be sure to include in a contract or how to screen tenants.

I am wondering if anyone has any general advice or tips when going into this venture that they would be willing to share?

Thank you for your time in advance.

[Scott E.]

Very interesting. I don't think I've ever heard of anybody start a venture like this but I like the idea. I have been to a few of these parks before (as a customer).

Are you looking at allowing these 'tenants' to park their food trucks on your lot full time?

The biggest hurdle that comes to my mind is getting the city on board. Not sure what permitting looks like for something like this. But it's a unique use for the property and I could see there being a lot of red tape getting it approved.