Starting any business is a massive leap but if done effectively it can bring happiness, a sense of accomplishment and of course, success.
For food lovers and culinary experts, launching a food-based business is often the way to go. One of the most common is a catering business. However, for someone without business knowledge or experience, starting a business like this can be pretty daunting.
However, it is 100% doable. In this post, we’ll share some of our top tips and information on essential things you need to know before deciding.
Read on to answer the question. Is a catering business a good idea?
Wondering if The Food Catering Business Is Profitable? Read this post.
What To Consider Before Starting
Before starting a catering business, there are a few things you need to consider and get to grips with before taking the leap.
Where Do I Start?
You’re obviously either a foodie, a fan of food or a culinary expert looking to share your gift with the world. There’s no doubt about it, catering is definitely the way to go if this is the case.
Providing a catering service provides the opportunity for experts like you to offer a memorable experience through the food you produce.
The first and essential step of starting any business is to establish your why. Why do you want to embark on this journey? Are you sure catering is the right choice for you? Why you? The process of starting and running a business is an eventful one and requires grit, resilience and tenacity.
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Without establishing your core foundation of why you want to do it, the journey may become an uphill struggle. One of the most important ways to establish what your why is, is to ask yourself the previous questions.
Map out your expectations for your journey and establish your core strengths and weaknesses. Another way to help you get to the real nitty-gritty of what you want and where you want to go is to research.
Research is critical in this game. Read, listen, attend events, ask others already in the industry and really immerse yourself in the world you want to enter.
Looking for a seasoned professional caterer for inspiration? See our piece on Ultimo Catering
Who’s My Target Audience?
Catering services are available for all types of events. When it comes to narrowing down your target audience, it’s important to establish which types of events you want to cater for. Are you wanting to appeal to a specific type of event? Or are you wanting to be flexible and cater to all events?
Some of the most common catering events include corporate events and meetings and social celebrations such as weddings and birthday parties. Then there are cultural events such as musicals, museums, sporting occasions and large inclusive events.
If your specialty is making cupcakes, you may be better suited to catering for social events. If you specialise in making gourmet food, larger cultural events may be your ideal vehicle. It’s important to consider such things.
Knowing who your audience is will enable you to establish a coherent brand which is critical when it comes to marketing yourself.
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Do I Need A Plan?
Once you’ve pinned down the first two steps, it’s now time for the important part of creating a business plan. It’s easy to forget that catering isn’t all about turning up and cooking. As with all ventures, there’s a lot that goes into it in the background.
Creating a solid business plan is critical to ensuring you set yourself attainable goals to support your business success. A business plan not only helps to keep your business processes running smoothly, but it also helps to keep you aligned with your objectives. Furthermore, it provides a clear map of what you need to achieve at different steps.
Within your business plan, you’ll be able to pin down information about where you wish to locate your business, how you want to market your business, who your target market is and your strategy.
Have you thought of running Food Trucks for events? See our Food Ideas For Catering Vans and Food Trucks
What About Marketing?
Marketing is a whole different ball game. Marketing is a core part of any business that works to create a brand voice and personality. Establishing your brand and increasing your presence in the market is critical to your success.
Obviously, marketing a catering business can be done in several ways. Many opt for traditional marketing techniques, others focus solely on social media marketing. Which you go for may well depend on your target clientele. For instance, younger people respond well to marketing campaign on Tik Tok and Instagram, whilst an older audience is less likely to use these platforms.
The important point is to figure out which marketing strategy to go for and to narrow down which campaigns will best suit your business needs.
Additional factors that come under marketing include things such as your business name, your logo, menu and anything that relates to your brand. Consistency is the brand here. Establish what message you want to send to your audience and stick with it!
Catering is all about feeding lots of people. Do you know How Many People A Full Tray Feeds?
What Costs Should I Consider?
Now to the scary part… Money. Unfortunately, starting a catering business requires investment. You’ll need to consider your expenses and how much everything will cost. From renting a venue to purchasing equipment and paying staff.
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There are a lot of financial costs to consider here. If you feel like you’re in the deep end here, it may be worth consulting a financial advisor for additional advice, information and support in your endeavour.
Check out our piece on Cheap Catering Food Ideas for some budget suggestions
How Do I Set It Up?
Another important step to consider is the registration for your business. Like with any business, you’ll need to take the correct steps to ensure that you have set your business up legitimately and have taken all of the required steps.
Setting up your business is critical to ensuring that not only your business is protected and properly insured but also to ensure the safety of your customers. Abiding by these rules is critical.
Not sure how much food to make? Click on our post about Simple Ways To Calculate Finger Food Quantities
There is so much to consider when it comes to setting up a catering business. The top tip is to know your why. Considering these steps and the processes to take will put you in good stead for setting yourself up for success.
Before you know it you’ll be living your best life offering a unique and memorable experience to be proud of. Whether you’re catering from a van, selling street food or running a business from a venue, a catering business has a lot to offer and it can be incredibly rewarding when done right.