Hi,
It might help to sit down and write a business plan. A great location will often cost money, not to mention licensing fees / profit sharing depending on the college. Initial outlay for a decent cart is $3-6K. Owner operator model is good as it is difficult to keep track of reliable sales numbers. I would run one for a year. In that time, I would probably contact a cart manufacturer about some kind of discount deal. The variety of local health regs are a headache. California's requirements are different than Alabama, etc. Good Luck