![]() ![]() Several of America’s largest cities are already experiencing slower, or zero, growth of their local food truck economy. After five years of rapid growth, expected food truck growth is now only 0.4% a year through 2020. Market research by IBISWorld found that “despite strong performance…high competition and unfavorable regulatory conditions in some cities have limited the growth of industry vendors.” That report predicts food truck growth will grind to a halt over the next few years. In spite of rapid growth, regulatory barriers appear to be slowing a once hot industry. While official figures on that type of growth are elusive, neighborhoods where food trucks cluster, such as around Washington, D.C.’s Farragut Square, have seen visible, concomitant growth in brick-and-mortar establishments. In nearly every city in which they set up shop, food trucks offer a net positive to the established restaurant industry. ![]() ![]() That trend of food trucks morphing into and being a part of brick-and-mortar restaurants is accelerating. Compiling in-depth analysis of food-truck rules from 20 American cities, as well as in-depth surveys from 288 food truck owners, the study concludes that “in spite of rapid growth, regulatory barriers appear to be slowing a once hot industry.” ![]()
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