Now is the ideal time to start a catering business. Your business will be well established by the end of the year. Then, it will be well established by the end of the year. You’ll be able to benefit greatly from all year end & New Year’s parties. However, this business opportunity is not limited to functions at the end of the year. You could earn an excellent income throughout the year.
Catering will always be in demand, regardless of whether it’s for any occasion, wedding, funeral social meetings etc. You can work alone or with your family, and few hundred dollars per month by catering during wedding or other occasions. You can also do it on part – time basis without it affecting any other work commitments. If you want to do this on part – time basis, you could employ people to help you, especially those unemployed, creating part – time employment for them.
Who is your Target Market?
Your market is virtually unlimited. Catering at both private & business functions, is needed everyday of the year. During the ordinary working week, businesses will often need this services for cocktail parties, director’s meetings, formal dinners, office parties & promotional events. Private individuals also need catering on regular basis on Saturdays, Sundays, birthdays etc. There’re some households that regularly use this service for their evening meals. You may find that working women, who fall into higher income bracket, will be interested in it.
You could start to work as a caterer on a limited scale from your own home. You will often find that the clients you work for, as well as reception halls or other places where functions are held, have excellent kitchen facilities. Normally these places have all necessary equipment and crockery. However, on certain occasions, you may need to provide these items yourself. You could hire the crockery, cutlery, glassware, stoves, fridges, freezers tables, mixing bowls etc. Various entities have catering equipment for hire at reasonable rate.
Provide high quality foodstuffs
You must be able to prepare a wide variety of different foodstuffs, like preparing finger foods, birthday cakes, pizzas, burgers, pastas etc. You must prepare tasty food. Another factor that will determine your success is the presentation of good quality food. You should ensure that you only buy the best ingredients. It’s vital that the food stays fresh until it’s served.
If you plan correctly, you will need virtually no capital. Most caterers request payment in advance for their services. By doing this, you don’t have to provide the capital for the ingredients. You could initially hire all equipment you’ll need, so you don’t have to come up with the capital to purchase these items.
Offer complimentary services
If you feel that this type of business is not profitable/viable, then consider saving money to purchase catering equipment. You can interview people doing catering business, find out what equipment are required. You can then approach catering manufacturers to purchase them. You can do that on small scale. Once, you have enough capital, you can start catering equipment business for hire.
Your profit will largely depend on doing detailed and careful cost calculations. Do not incur any expenses for a function unless the client has paid in advance. You should not accept less that 50% deposit beforehand. This will help to prevent you from suffering any personal, financial loss.