Minimum guarantee (food trucks)
A minimum guarantee is an agreement where a host promises a food truck or caterer a minimum amount of sales at an event. If guests buy less than that, the host pays the difference. It protects the vendor from a slow crowd and is common for private events and corporate bookings.
Updated
About minimum guarantee.
Also called: food truck minimum, sales guarantee, guaranteed minimum, minimum sales guarantee.
The amount depends on the vendor's costs, travel and the time they are committed. It is usually set in the contract along with the service hours.
Hosts sometimes pay the whole minimum upfront and the vendor then credits guests' purchases against it. Clarify which approach applies.
Compare a minimum guarantee with a flat fee or per-person pricing to see what suits the event.
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