Business crossroads, should I continue business as usual or take a risk and move my food trailer to a new spot where I'll take on responsibility of the lot
I work alone in a food truck, I've been doing this for the past six years, running in the red for the first three and breaking even and making a little of profit every month now, roughly 3k on a good month after expenses.
The thing is my lease ends at the end of April and to resign the landlord is asking for 1750/mo, now I pay 1650. It seems like a safe choice, an increase of 100 isn't that much, and I have everything set up here, equipment and customer base.
An opportunity that doesn't come around often appeared recently, to lease a pod that has all the infrastructure already installed, water, electric, trash, oil, etc for 5000/mo. Its smaller and has less traffic, but it would be my challenge to spruce up the place and bring customers in, which I plan to do by focusing on late night dining/delivery orders. Id be moving my trailer in with the 3 other carts there currently, which is a big headache of taking everything out and putting it back in and hiring a moving truck. With me and the current trucks there, there's still space for another 3 to fit. Each one's rent is about 1500/mo, but the pods had trouble keeping trucks in since there isn't so much attraction there yet, just the bare bones of meeting inspection standards and minimal offerings. Also need to mention the opportunity to take over the lease is also 18,000, which I was planning on taking the money out of an investment account I have for education and put towards building something now since I have no intention on going back to school.
Long winded, but don't have many people to talk to and wanted some initial thoughts. Ultimately I'm leaning towards the challenge and risk, but parts of me are also asking to avoid big changes. Thanks for reading.