The Catering Business is a moneymaking profitable business to be in. It has a high potential for the enlargement and growth of your income. Also, this business usually offers a high return on investment.
It is not only an interesting but also a challenging one. You should fulfill your Client’s ambitions regarding their catered events whether it is a birthday party for children or Individual’s breakfast in bed or candlelight dinners for the loved ones or a big party for persons of 50 and above in wedding receptions. Whether your business is on a full-time or part-time basis, your dedication in it values the most. This dedication value is due to the demanding work needing stamina, ability to work under duress and your excellent social skills. This will add to your reputation in this field. And this reputation will form the basis for your success in Catering Business.
Ubiquitous and Exorbitant Demand for Catering:
Every year the demand for the Catering Business will be going on increasing. Social Caterers are one of the fastest-growing segments of the Restaurant Industry. Professional Caterer, Personal Chef or Both will be the key personnel in the Food Services. While recruiting, you should aim for a Professional, Organizational & Interpersonal Skilled Personnel for your Business. As world economies rise, the higher-income householders and strong economy people such as people having companies, corporations, charities, civic groups, event organizers and individuals are looking for Catering Industry to host, on and off premises events. So whatever your size of your business will be, your Catering Business should have catered lunches, cocktail parties and dinner meetings, to build your image and increase the sales. Here, you will have to face the competition in your field and you should not forget this.
Present lifestyle also plays a major role for the increase in demand of this business. Hence, catered food services are the part and parcel of the present community. For providing rich and superior quality food for the guests, the present homemakers are calling on Caterers. And this becomes an unforgettable feast for their guests. Majority of working mothers, who do not have time for cooking, always go after the Catered people for their birthday, graduation parties and wedding receptions. Business Catering also changed the eating concept of the individual. Instead of going to a restaurant or a hotel, people opt to order from the Caterers and enjoy the food at home itself.
Startup Costs:
When compared to starting a traditional restaurant, the investment made for starting a Catering Food Service is very low. Even with $1000, you can start a Catering business. A maximum of $80,000 also can be invested. It all depends on the size of the kitchen you plan to put in starting this business. Most do the cooking on-site and use either their own equipment or the one provided by their Client. However, you must have your own because you have to do pre-work in your kitchen such as cutting vegetables and so on.
You can also start your business by renting items which are vital for your business. All are available. You can rent the use of kitchen facilities, china, utensils, tables, tablecloths and linens, serving equipment and other staples. When your business had become steady, you can go for purchasing your own items.
Income Potential:
Depending on the size of the job you cater, your income potential has to be decided. Unless you try to acquire an excellent management and organizational skills for this business, you risk failing in this business. Hence, you must pay much attention to cut the operational costs and maintaining a high quality service. There are also successful Caterers who started with just $500 and competed with people who invested as much as $15,000 as initial startup cost. From the experience, one will understand that much profit comes in the food and beverage industry. In large metropolitan areas, a Caterer can easily earn $200,000 per year whereas in a small town, a small caterer can amass $50,000 per year.