If you enjoy entertaining and cooking for others, why not try your hand at establishing a small catering business? These companies are capable of being run from anywhere, including your home, as long as you have a license and are operating our of a health department-approved kitchen. While it is necessary for you to be business-savvy and determined, there are many ways for you to make money with your own catering business.
1) Making a name for yourself in the industry
While it is eventually important to own your own equipment, it is probably best to rent your equipment and supplies until you have made a name for yourself in the industry and know that you plan on continuing. You can rent pretty much everything you would need in order to have a fully functioning catering company, with some restaurants even allowing you to rent their space while they are closed.
2) Outsource
In order to establish yourself as a good catering company, it is important to first and foremost focus on the food that you are serving, as well as the service you are providing. It therefore may be a good option to start by outsourcing the event planning part of the company to other vendors specializing in these areas. For instance, you may wish to hire party supplies and equipment such as tables and chairs from another company.
3) Hire Temps
Instead of starting with a lot of overhead, why not hire your wait staff for only as long as you need them, i.e. the busy season? By hiring temporary wait staff from hiring agencies; you slice the need for being responsible for extra payments for things like unemployment taxes and benefits. This way, you are only paying for the service you need and nothing more.
4) Stick to Your Specialties
When establishing a new catering business, it is important that you focus on creating a niche for yourself so people know what you are good at. This gives you the opportunity to not only buy more quality ingredients, but also the time and energy needed to perfect the recipes you do offer. It is not only important to offer select specialties, but also to choose a few specific genres of food such as Italian or Chinese. Outsource for areas you are not yet comfortable in.
5) Partner with Businesses for Venue Space
Despite having a monthly fee in order to pay rent, the benefits of having your own space far outweigh this drawback. Having your own shop area will allow for a flow of customers to visit you as they are passing by, and if you partner with an event venue, you already have guaranteed work potentially catering for them as well!
