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"Start a Catering Business": Tips and Tricks

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You have the knack for cooking, you have the passion for food and its presentation but you don't have the guts, the capital or the management know-how to open a restaurant. Why not start a catering business instead? A catering business can be a very promising venture with a lot of growth potential.

All you need to get started is a place to cook (that might need approval from the health department), a delivery vehicle (you can also rent first), the proper business license, and the passion for working long hours.

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That being said, here are some pointers to help you get started:

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1. Startup Investment
If you can get access to an unused restaurant kitchen during its off hours or a commercial kitchen facility dedicated for people like you, you can start the business with basically nothing except your food ingredients. As your business, and your client base grows, you might consider buying or building your own kitchen space. Party equipment, delivery vehicles, and kitchen equipment can be rented at first to reduce startup cost.

2. Licenses and Permits You May Need
The regulations will vary with your location, but generally, you'll need a standard business license. If you plan to have your own kitchen space, you'll need to apply for health department approval. Contact your local authorities to get more information and help you with the process.

3. What Type of Food Will You Serve?
Being a versatile, well-rounded caterer is great. However, having your unique niche and identity can help build your reputation. Vegetarian caterer, Mexican Caterer, and Asian Caterer are some niches for your consideration. Remember, niche first, the world later.

4. Marketing Plan
The hardest part in this business is getting your first client. Traditional marketing scheme like putting advertising in yellow pages, giving out brochures and fliers, online advertising and social media will certainly help. Build network with local vendors like wedding organizers, florists, photographers, hotels, and other wedding-oriented ones. One way to achieve this is by attending and participating in wedding expos and seminars. They can refer you to their existing and future clients. Networking is essential in this business and will help you in the long run.

5. Taste does Matter
When is the last time you remember great foods at a wedding? Probably you won't. But you'll always remember those awful ones. Maintaining quality is important for your reputation, and make sure you have a proper balance between quality and cost. Yes, you may save cost and get profit from one wedding, but it won't matter if you can't get future clients.

Earning Potential

Many variables can affect your actual earning, however, the industry average for a caterer that can get four clients a week can reach more than $30,000 monthly earning, that translates to $360,000 annual earning.

Even if you manage only 1 clients per week, you can still easily get $90,000 annually.

Labor cost, food costs, and equipment rental, as well as other operational expense will affect your net profit margin. As with any food and beverages business, maintaining cost is a highly crucial matter to generate healthy profits.