Of all home-based business, there is no question that the catering business is one of the most lucrative and profitable, along with having a high potential for expansion and growth that can be both fun and financially rewarding.
Whether you plan on catering events on a full-time or part-time basis, the opportunities are exceptional.
Each catered event, whether it may be an intimate candlelight dinner for two, or breakfast in bed, birthday parties for children, and company dinner parties for 100. Then, theres bound to be a wedding reception involving a hundred or more guests that will demand a new experience and challenge with another new group of people.
Alternatively, catering is demanding work, requiring staying power, combined with the willingness to work under pressure, and use of your people skills.
There is also no question the extent of your success will greatly depend on your personal reputation, and to develop a good reputation in your business, you must be willing to work hard and posses the talent to work under pressure.
The catering business is definitely growing and becoming more popular with all groups of people, at all income levels.
The Demand for Catering
According to the National Restaurant Associations recent findings, the demand for catering is greater than at any other time. The fact is, caterers are one of the fastest-growing sectors of the restaurant industry.
Catering sales are expected to continue to climb as more and more companies, corporations, civic groups, charities, and individuals call for caterers to host their events.
Such as. catered lunches, cocktail parties as well as dinner meetings to enhance their image and increase the company sales. Its all a matter of keeping up with the competition.
Todays, standard of living has given way to a growing demand for more and more quality food services. In fact, many working homemakers now employ a caterer to supply a magnificent and unforgettable feast for their guests, in place of them laboring for hours, even days, in the kitchen.
In addition, an ever-increasing number of working mothers are having catered birthday and graduation parties, as well as wedding receptions handled by these professionals.
The logic of this is simple, if both are working outside the home, today’s couple just does not have the time or the energy required for a outstanding party.
As a home-based business, catering is attractive because it offers an opportunity for starting a food service business with a much lower initial investment than opening a conventional restaurant.
You can start as small, or as big as your wallet will permit. Your start-up costs will quite naturally, depend on what you put in your kitchen and can range from only $1,000 a much larger amount should you decide to equip a professional kitchen.
Most caterers do their cooking on-site, either using their own facilities or that supplied by their clients. Yet, in any case, you would normally still need to do some prep-work in your own kitchen, for instance the pre-cutting vegetables, and so forth.
To keep your costs down, you can of course, choose to start your business by renting needed items. Such as, renting the part-time use of kitchen facilities, also utensils, china, tables, tablecloths and linens, and other staples.
Obviously, you can start acquiring your own equipment, but doing so only when you have steady and dependable income.
By renting supplies, equipment, and equipment you can use your first few months to build your image, while accumulating some capital for investment and expansion and evaluating how much time and money you want to invest.
Then too, you can also look at the start-up period as a time for uncovering the impact that this business may have on your family.
As To Income
Catering, much as any other business, requires outstanding management and organizational skills. So, your income potential will be contingent on the type and size of the events you serve.
Naturally, your ability to keep your operating costs low, while preserving a high quality service, is above all vital.
In surveying successful caterers across the nation demonstrate the reality that many began with zero capital by working out of their homes, and that their basic start up investment was around $500, while some funded their idea with as much as $15,000 or more in order to get a quicker start.
An in-demand caterer in a large metropolitan area can easily gross over $200,000 plus per year, while a small part-time caterer in a small town can rely on at least $50,000 per year, considered the best in the food and beverage industry.
To keep costs down, many use their house or apartment as their office, also, you can rent a kitchen in an area restaurant on certain days when you have catering events, in addition you can hire temporary help when needed.
When considering catering as a profession, youll discover theres no need for any special training or education to become a successful caterer. At the same time, applying for some courses at vocational schools or culinary institutes can help.
Some people begin by working for one or more catering businesses to give themselves an inside look at how the business runs..
In the final analysis, your ultimate success will be precisely related to the consistency of your planning and the working of that plan.
My best advice, simply, understand exactly what your client wants, and give him what he wants.
(Cora Donnblue is the highly experienced and best selling author of, “Start Your Own Highly Profitable Home-Based Catering Business” a step-by-step guide valuable sound advice and practical guidance for easily and quickly creating your own successful business.)