Saturday, October 31, 2015

How to Launch a Successful Catering Business Startup (part 2 of 2)

Consider your startup funds.

A catering business startup will cost you – literally.  However, you could choose to start small with the equipment you already have.  Start the business only with what you can afford to cut down on initial costs.  But you must understand that in the long run, you will begin to need more equipment and supplies.

As to how much you might have to spend initially, that would depend on what you already have.  If you choose to start as a home-based catering business, for example, you could spend upwards from $1,000.  If you choose to build a professional working kitchen, be prepared to shell out from $40,000 to $80,000, depending on the type of equipment you put in.

Spread your market.
For a catering business startup, you have two choices: you could either market exclusively for a niche or target a more generic market.  If you prefer a niche market, for example, you could opt to cater only for weddings, anniversaries and birthdays and then target a specific income level.  Or, you could choose a more open market, wherein you could offer different packages depending on what your clients prefer and can afford.

Be prepared physically and emotionally.
The catering business is rather labor-intensive.  Whether you're in it part-time or full-time, it still requires a lot of your time and effort.  A catering business startup is demanding work and it will not stop there.  As you continue with the business, it will remain as demanding as it was at the beginning.

Learn to perform under pressure and work hard.  As long as you manage and market your business the right way, you should be able to expect growth and expansion.

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