When someone wants to make money out of the culinary skills, catering business is the right gateway to open the source. According to a research, catering is the only business that goes with an increasing demanding opportunity and of business of $70 billion industry. Though many good chefs are at home kitchen, yet some of the busy bees to look around for good foods are there to meet this demanding chance.
Demand in catering business
The catering industry in the US is actually a $9 billion industry in the year of 2012 wherein it owns more than 9000+ catering businesses as per the study of IBIS. It actually starts generating results in average revenue of $1 million/per year. Though it seems a big hill to the amateur caterer, it could be a lesson that to be learned out it to get to know how well can flourish.
In fact, earning potential in any business is a varying factor and especially when considering catering opportunities, it varies with factors. And on the end of the day, the earning potential from catering business could be list down as total sales minus the food costs, salaries and other expenses.
Flexibility To Choose Your Own Niche
Catering business is fairly different with opening a full-scale restaurant which operates for a whole day cycle, or even as like offering full variety meals. You can always choose your own type of food which you passionate about or you might want to choose a popular type of food that has great demands in the market. The better the ideas, the lesser the tension and the greater to earn can be a maxim for catering business opportunity.
Think like starting up a:
- Homemade gourmet cookies
- Homemade gourmet jams
- Homemade biscuits
- Candy making
- Chocolate making
- Wedding cake making
- Donut shop
- Coffee café
- Food and Nutrition Blogger
- Food and Nutrition Television Program
- Competitive Cooking Show
- Catering Author
- Online Cooking School
- Cafeteria Management
- Wedding Catering
- Corporate Catering
- Barbecue Catering
- Welfare Catering
- Health Catering
- Airline Catering
- Cruise Ship Catering
- Meals-to-go Catering
- Food Delivery Orders
- Meat Mart
- Frozen Food Mart
- Seafood’s Mart
- Fruits Mart
- Pizza Tables
- Organic Food Store
- Party Grills and Bars
- Drinks, Cocktails and Mock tails
The challenge of this business
Challenges are the unchangeable one in any business and they are the growth giving factors to go up ahead. But challenges in the catering business could be either very stiff and cut-throat sometimes and sometimes downright easy and can be tackled as a walk on an icy-cake. There are many factors remain beyond the owners’ control, yet a good managing tendency, bit patience, best entrepreneurship can evade those difficult obstacles to evade away easily.
Appending below are the challenging factors in the catering business opportunity:
- Uncertainty: Uncertainty is the foremost challenge in this business where because of weather change, climatic demands, guest changes, program cancellation at all or it could be because of any other unforeseeable changes. An amateur will be the one who worried a lot, but for an experienced it could be rolling stones, wherein a well planning is must required.
- In search of better pay: The next lined issue which is most importantly personnel’s consider is that good amount of payment. Anyways to start and run an efficient and good catering service fair people with good experience should be required and therefore they expect good figure of monthly wages. Other that super chef, kitchen manager, kitchen assistants one can readily hire new bees by local ads for catering colleges and catering schools at all.
- A little bit of patience: Would anyone say that running a catering business is much easier? No way, wherein if at all the entrepreneur has bits of patience within himself, he can’t manage the things to be run smoothly on all the stages. It is not that much possible to take care and look after all the things on oneself, wherein the person must be ready to shove himself on certain responsibilities to others and must not scream if things break up in middle somewhere at sometimes.
- Take care of the foods: Catering is all about – none other than only foods. A caterer has to devote himself all his energy and time to maintain the quality of food. Quality is most important wherein taste follows the next factor. And there must be special handling in food handling.
- Planning and deciding: As a caterer, one must know about the amount / quantity of food required never matter whatever be the guest size. If there is lack of food, he should be able manage and if gets unused also, he should have alternate channel to use the food, wherein no food must be wasted. And so there must be a ready contingency plan anytime!
- Staff management: When required more numbers of man power support to manage out different tasks, staffs hired must be well experienced and much patience with dedicated manner.
- Leave no trace: Cooking a big quantity of food and serving it to many is not an easy job. You must carry all the required utensil and once after finishing the job, there should be no trace of garbage wastes. Kitchen clean is the motto of this industry.
- Competition: Despite the challenges and competitions in this industry, food quality, taste at affordable rates is the demanding factor where the requiring bees look for.
How to get started in this business?
Surely when you think that you are mastering the skill of culinary, thus you feel like making others to taste your preparation, appending below are the prime factors that you have to be ready with for an effective catering business opportunity:
- Catering Concept
- Catering Menu
- Catering Equipment
- Catering Brand Name
- Self Employ
Engaging one into catering business requires dedication of long working hours, sometimes on nights, ready to sacrifice weekends and holidays. Look back into your family support, handling stress & managing it to overcome, and whether you are completely ready to lose steady paycheck!
- Read the Competition
One must see to the in and around competitors that are already dived into this catering business. Iterate out the varieties of menu, menu prices, opening and closing time, and week off day to set your brand apart from the competitors’ crowd.
- Prepare the Menu
Ask yourself that what are all the cuisine types that you are well versed with? Chart down all the menu varieties out of it and pin down the timing, say for juices and desserts would go high by evening time and likewise. Study your region people and tune your menu list that what is the most demanding dishes et al.
- Set your Brand Name
Banner yourself with attracting name that must call the people to have a plate on your restaurant table!
- Incorporate your Brand
It is the best to obtain insurances, licenses, permits that include but not just limited to: liquor license, employment insurance, worker’s comp insurance, food handlers’ permit, vehicle permits, et al to manage the taxes and other payouts easily. And before that try getting your social security number, TIN and EIN for other myriad payments!
- Purchase Catering Equipment
Set up your budget when you start initially, hence chart down the important and mostly required equipment that you need for the kitchen, store, dining table and maintenance.
- Hire Catering Staff
Keep in mind that as your business grows, the requirement of staffs do grow alongside. Try hunting good and experienced catering staffs to run your business effectively and try holding good employees with bits of patience at you, by managing certain conditions.
- Market your Brand
Launch a website with crisp information of: where is your business, what you serve, menu packages and prices, contact information, an array of album collection showcasing past events’ photos, food galleries at al.