Rolling in With a Big Appetite: Concessionaire Business is on the Rise
“Eat local. Shop small.” Small towns and cities post these signs to promote small businesses, and a small business can’t get any smaller than a concessionaire or vendor.
These business owners work independently to sell anything from hot dogs in Central Park to homemade jewelry at a craft fair in Austin. Across the country, we see these small businesses everywhere, and they represent the newest alternative to opening a traditional storefront or restaurant.
Homemade items and unique flavors are all that’s sought after right now, and concessionaires are helping to fill that need. This industry has seen tremendous growth with over 800,000 businesses nationwide selling goods directly from a cart, truck or portable stall, resulting in annual sales over $650 billion. Mall kiosks alone gross over $11 billion each year, according to IBISWorld. By 2017, it’s estimated that food truck revenue will reach $2.7 billion since food trucks are becoming a staple on street corners and large festivals. The Dallas Morning News featured a recent local festival that drew an estimated 20,000 attendees in search of their favorite food truck.
Regardless of the type of concessionaire or vendor, these statistics seem to be on the rise across the industry. Because of this growth, cities and towns must grow as well by drafting legislation and requiring liability insurance to protect the business owner and the town. Whether a customer trips on a Christmas tree lot in Chicago or consumes under-cooked food at a fair in Georgia, general liability insurance will cover the exposures arising from a concessionaire or vendor business.
With our broad appetite and ability to consider everything from flea market vendors to food truck owners, we are your market for concessionaire and vendor risks.
What sets USLI apart from the competition?
- $350 minimum premiums
- Up to $2 million/$3 million general liability limits available
- Blanket additional insured included
- Annual policy term
- Seasonal lots eligible (Christmas trees, flowers, pumpkins)
- Inland marine coverage available
- Free access to the Business Resource Center
We take a simple approach to this product and focus on affordability and great coverage, so you can focus on getting business in the door. In an industry that brings in billions of dollars of revenue each year, it’s important to get after the opportunity!
As always, thank you for your support and business.
Written by David Ford
June 9, 2016
Contact Karen Gorski,
Concessionaires and Vendors Product Leader | 888-523-5545 Ext. 7607