According to Bharat Bhise, you need to have a good knowledge of food including different food recipes, pairing options, menus, and more to start a catering business. However, it is also necessary to have excellent management skills which are required for running any type of profitable business.
And, whether you want to become a private caterer, mobile caterer, or hotel and restaurant caterer, it is crucial to learn the advantages and disadvantages of becoming a caterer before you start a catering business.
The pros of becoming a caterer
- You will have flexibility and freedom – One of the best parts of starting your own catering business is the amount of freedom and flexibility you get to experience. You can work as many hours as you like to get the initial experience and invest as much as you want. You can even run it from the comfort of your home without renting a physical storefront or office.
Plus, the benefit of being self-employed means that you are your own boss and can choose your own clients or customers and work as many hours as you want.
- There is the potential to earn a lot – A catering business will allow you the opportunity to create many meaningful business connections. In fact, if your food and service are good, you can expect to maintain high customer retention, and serving your loyal customers can often become enough to sustain your business for the long term.
In fact, you can also ask them to refer new customers so that you can increase your income. The best part is that there is no upper limit to the earning potential, especially in peak season when individuals and businesses host frequent events and celebrations.
The cons of becoming a caterer
1 You have to be very responsible – When starting any business, you have to juggle many responsibilities, and starting a catering business is the same. Part of the reason is that the employee turnover is high, which can cost you a lot of money and time. You have to offer a positive work environment, competitive pay, and other benefits to reduce high employee turnover.
- Starting a catering business can be hard – When you are just getting started, it can be difficult to get new clients since you lack trust and reputation. That’s why you have to develop excellent people skills and really nail the marketing to gain some traction and overcome the competition in the area, which can be quite tough. Plus, the work can feel repetitive which can lower your passion and motivation for the business.
Bharat Bhise suggests you consider starting a catering business if you have a passion for food and event organizing. Ensure you create a good catering business plan to understand the strategic business steps that you need to take to head toward success. For instance, you need to determine the number of courses and type of food, fixed vs tier pricing, and extra services.
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