I have a friend getting into the food business. What's your best advice?

Unless you have enough money to carry you for at least 1 year then don't go into the food business.  The food service business ranks in the top 3 that fail the first year.  
The best food service success is by buying a national franchise. 

My advice is don't go into the food business. I think there is literally more competition in food than in any other industry. In my city of 200,000 the health department adds 300 new licenses a year (that's new, not including "re-open under new management"). I've seen restaurants open for Thanksgiving and go out of business by Christmas. I shop for restaurant equipment at a warehouse that is 80,000 square feet of people's shattered dreams--every one of them thought they had it figured out, and they were all dead wrong. If you have a passion for the food, maybe you have a chance. But if it's about the business, I'd say keep looking. But if you do it, please do it well, especially if you go the food truck route. This world does not need more mediocre street food--blah food that generates a ton of garbage is a drag.

We have a saying in our family. You don't own the restaurant--the restaurant owns you. Beware.

My advise 

My best advice is get all the systems ready before hand. Why most restaurants fail is because they do not have any systems in place from training to P&L. Develop that and put it in the place and it will be success. Most people say restaurant is hard or it is hard to make money, only if you are not fully prepared. Restaurant is rewarding in so many ways. Good Luck to your friend and one thing - everyday there is new challenges - embrace and have fun with challenges. 

If you have a true passion for cooking; if you are discipline; if you are ready to invest all you have into it (time, money and mental strength), then you are on the right track. Start small and work at it.

Regardless what he goes with I can help him with start up capital for equipment, marketing and anything business wise he may need. I provide clients with excellent funding options for their consideration that can help them during times of much needed cash flow gaps. Feel free to reach out to me anytime you may be looking for business funding at [email address].

There are advantages and disadvantages to both. One of your largest controllable expenses is the labor so a food cart or catering is much more manageable. Having a brick and mortar is more expensive but you have more seating so more volume and your profit margins can be greater if you supplement with beer/alcohol or video poker. Catering is great as you really can control your costs and lowest startup costs but you are reliant on a commissary or other prep rental. 

The licensing is all about the same time period though the costs will vary. Liquor or beer will add to the local licensing and the OLCC license but you are able to make more with product that has a much better product cost.

Regardless of the three choices I hope your friend understands it is a high risk business and you are married to the place for years until you become established at best.

Nope 👎 go to your city or county and sort out all your requirements. Some information may be available on line. Check with permitting departments. As well Visit your states website for all permits and submissions for permits, design and food requirements depending on your choice of style. 

Next write a plan and a business pro-forma. Does your concept work, will it make money 💰 if so how much capital will it take?

Food business require a minimum of a 3 year plan to profit. 

Meet with some trusted friends to test your concept. 

Then visit all your competition and observe how they are succeeding, get there menu, review pricing. Can you make money and be unique stand out. How?

Create your menus again revisit with your core advisers. Legal, accounting and Marketing. 

Now your ready for permits and capital infusions. 

Enjoy and Love what you’ve created.

Does he knows the Food Industry fromA to Z what it make him to Jump in this Field did he ever work in it from the bottom to the top does he has knowledge about the No. $$$$$ I do not think the food industry is for him put your money in stock market or real estate ..if you you wouldn’t ask specially these days the cost of operating between the labor cost and food cost and rent and ........

Having owned a store front and a food truck I would recommend a food truck is your best option. Less expensive to start, less overhead costs, cheaper insurance.  With a food truck you go to where people are so you will spend less money advertising too.  If you have a store front with set hours you need to have it staffed and being open during those hours. With a food truck you pick your events and hours. Way more flexibility. Depending on your age and family situation ie spouse or kids?  Starting a business while also having young kids will be very stressful. If you want your business to be successful for at a minimum the first 5 years you need to be there putting in the time no matter what route you go. You are building a brand and reputation. You do not want that left up to a manager or someone you employ full time. Oh and did I mention having a store front with employees you will be paying unemployment tax and work comp insurance. If you can do it on your own with a food truck that is another benefit to keep in mind.  You also need to know your area, are their other food trucks? What uniqueness will you bring to the market? You need to have something not already available. This will allow you to get accepted to more events.  Licensing is about the same. You will need a safe serve certificate and a food license just as you would with a store front. Plus sellers permit and health department permit local or state or both for food truck or store. Also if you have a food truck you will need a commissary to operate out of which is easy as partnering with a licensed kitchen and using it to prep and wash dishes. You might be able to get away fully mobile depending on complexity of your operation.  I personal opinion is I would never open another store front location For all of the reasons stated above. I wold recommend this for any business idea. Can you be 100 mobile? If you do build a brand and good reputation then maybe you could transition to a store front but develop a strong customer base first.  Plus food truck catering in my area is picking up speed and people are using them for a lot of things weddings, graduations etc...