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Is the concession business profitable? The truth is, it is probably far more profitable than you can even imagine. Most people have the dream of becoming self-employed however, not everyone is either suited for the task or up to the challenge. Lack of commitment, inadequate capital or a fear of failure are all things that hold many people back.

However, there are plenty of driven individuals that will tell you that the answer to, “Is the concession business profitable?” is absolutely and positively, yes! Concession stand businesses offer the unique possibility for you to make a substantial amount of money within a very short period of time. With a moderate investment of your time and capital as well as a thoroughly thought out business plan, you can live a comfortable life that you would not otherwise be able to have if you were still on someone or some company's payroll.

If you compare the profits of a concession business with almost any other type of business, the concession will come out far ahead because it can be started with such little start-up capital, a minimum amount of additional employees or, in some cases, no additional employees and for the most part, far less hours worked. A full-time income of substantial size can be obtained with only a part-time effort.

When you run a concession business you have the independence and freedom to build your business and your income as large as you desire. You control your future. You will never need to be paid based on what your time is worth like at a regular job. Most importantly, you can never be written up, laid off or fired.

Also, the concession business can be a ton of fun. You are making money in an exciting and relaxing environment, surrounded by a plethora of interesting people. So, is the concession business profitable? It is profitable in ways that you cannot imagine. You can make an exceptional income, have fun and enjoy your life to the fullest extent being self-employed with a concession business.

A catering truck allows you the rare opportunity to combine your chosen food service with the flexibility and freedom of moving your business from one place to another. Having the ability to change locations gives you the benefit of offering a different menu, based on the specific needs of your customers at each location. You can profit on different items from different locations based on what sells the best at each place.

Having a catering truck is far easier to operate and turn a profit than running a stationary restaurant, with less hours and less stress. Ideally, you can start your day serving coffee and breakfast at your chosen venues and then transition to boxed lunches and hot dogs in the afternoon.

Owning a catering truck offers a business owner a huge amount of flexibility when choosing equipment. Starting your own catering truck business is done with fairly low start-up costs with the primary investment being your vehicle. You will need to equip your catering truck with equipment for food preparation that meets sanitary regulations in your area which your local Health Department can guide you on. This will include preparation areas, stainless steel sinks, a cooking top or grill, running water and a refrigerator. Luckily, most companies will conveniently carry a catering truck that already meets all of these specifications.

When you own a catering truck business you can control your profit increase by simply adding additional services and menu items. Some catering truck businesses will even lease a space at a specific location permanently to provide their customers with seating to enjoy their food near the truck. Tables and chairs can be conveniently transported right on top of the truck if it is large enough or you can tow a small trailer to transport these items. Providing seating around your catering truck raises your potential for customers to buy a last minute snack on their way back to the office to eat later on their next break at work.

Purchasing a catering truck gives you the wonderful chance to become self-employed and control your income and your future.

The concession stand market is a growing business in this defunct economy. One of the most reliable concepts is that concessions never lose their novelty; this is the case for stands which sell food (items which are always in demand) and also for souvenirs (which are readily in demand at areas such as ballparks and sports stadiums). With hundreds and even thousands of people going into and coming out of sporting events and public venues, the concession stand business becomes a cash cow in which high volumes of traffic – and money – exchange hands from them to you.

A particular concession stand, such a a simple hot dog wagon, can yield amazing profits in a short amount of time. Consider the costs of running such a stand: the stand itself, even one of the cheapest ones, runs about at about only $2,000-$3,000 (used) or twice that price ($4k-$6k) for new models. Take into account the costs of materials (at the most, you'll spend about $100 in materials such as hot dogs, buns, condiments, and even pre-packaged chips and canned or bottled drinks). With only a $100 investment in materials, you can make over triple that amount in only one day's worth of sales, if packaged correctly. Putting together a meal (hot dog with fix-ins, chips, and drink) can justify a price of $3.00-$5.00; even if you decide to be generous and sell for cheaper than this, you will still come out with money in your pocket to cover expenses and pocket the rest. Think about this: the cost to make a hot dog is about $0.17 for the dog, $0.10 for the bun, and less than $0.05 for condiments; add chips ($0.40 per bag) and a drink ($0.25), and you've got yourself a total cost of $0.97 for the meal! At a $3.00 price point, you're making just over $2 in profit per sale!

Location is the key to your success. Placing a concession stand at a location known for its traffic, and also providing convenience in an area where food or drink is not readily accessible, provides you the opportunity to rake in the cash. Think beaches during the summer, or even just outside schools. Target those who are looking for a quick bite to eat on the fly – these will be your constant influx of revenue. Imagine school's out, it's a nice summer day. No one is at home, everyone's at the beach enjoying the surf, sun, and sand. Swimming sure does work up an appetite – make sure to provide your service to them, because they'll be dying to have one of your meals. And if it is something as simple as a hand-held hot dog, they'll likely buy more than one meal throughout the day! Repeat customers in a highly saturated location; you're bound to make huge amounts of money in little time, and with very little investment. In only a few short months, maybe even weeks (if you're truly motivated), you'll have made back the money you put down for your cart, and will have established a strong customer base with your continued presence at these locations.

Concessions are probably the best way to make money in this tough economy, as you're able to reap the benefits of a cost-effective business model, along with high volumes of customers, in a time when people want – nay, need – your product. Just provide the service, and the product will sell itself! Good luck in your future money making!

If you are just beginning your journey to become self-employed, you will need to decide should you have a sole proprietorship, partnership, LLC or corporation? This may seem really confusing but it doesn't have to be. Each option will have its advantages and disadvantages so you will want to take the time to weigh the pros and cons to decide which option will be most beneficial for you and your business.

• Sole Proprietorship – This is a form of business that is owned and completely ran by one individual. All losses and profits accrue to the owner and all business assets are owned solely by the proprietor. Therefore, the owner is completely liable and has no partners. These are easy businesses to start and filing taxes is simple. The biggest disadvantage is raising capital with one business owner.

• Partnership – Businesses that are ran by a partnership allow the owners to share the losses and profits of the business. These types of businesses are usually favored instead of corporations in regards to taxation purposes however, owners involved in a partnership can be exposed to quite larger personal liability in comparison to being shareholders in a corporation.

• LLC – A limited liability company is a flexible type of business enterprise blending corporate structures and partnership elements. This option is a bit more flexible in comparison to a corporation. It is ideal for single owner businesses. Many feel that it completely protects business owners from personal liabilities however this is not true if there is misrepresentation or fraud involved.

• Corporation – This separate legal entity is recognized as being distinct from its members and having certain privileges. Liability is an important focus of this type of business. If the corporation happens to fail, the shareholders generally only lose their investment and their job but are not liable to owe the corporation's creditors.