Good question to post. Probably wont find many operators willing to share what their gross sales are.
Yes I agree that the location is the prime factor. More foot traffic = more sales.
One big pro:
The beauty about the cart and any operator will agree. Your mobile. Very easy to relocate if the location doesnt work or changes in some way.
One big con:
Your business out in the weather. You can enclose it somewhat with a canopy and sides.