Want to start my own Catering Business but dont know how?
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Hi Everyone, Im here for some Business Advice, for over a year now I've been debating wether to start my own Catering Business but have always been put off by the fact I have no capital behind me. I have always catered for partys for family and friends have absalutely love working with food. A friend of my Wifes has started her own business by getting a business grant and now she seems to be well away! I am currently working full time, Monday - Thursday, 8:30 - 5:30 and half days on a Friday, My ideal situation would be to keep the job im in at the moment until the business gets up and running and is creating an income that will allow me to quit the job im in. This would mean me working on my business over the friday and the weekend, which is when most people tend to have partys anyway. im just wondering if I will be legible for a grant with me wanting to keep my current job until things take off? has anyone had any experience in this field, and if so, how did they go about it!? any advice would be much appreciated! Thanks everyone!!
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Answer:
Being purely blunt don't like it. "I have no capital behind me" - This means you are going to set up using DEBT. I use capitals deliberately, the banks would say they are giving you credit which sounds nicer. It is DEBT ATTRACTING INTEREST that you have to repay! With a recession coming setting up in the hospitality industry is not a good idea, cut backs not expansion is the name of the game at present! You will find there are a lot of similar companies already trading that you did not realise were there! Competition will be tough as it takes little capital to get started! Therefore profits (if any) will be low! Wife's friend seeming to be doing well will almost certainly be an illusion unless she is in a specialist high margin market. No-one starting a business will admit it is anything but doing great! Starting with DEBT, low margins = more DEBT, cost of council health standards etc. would give you more DEBT all make it unlikely you would succeed and make genuine profit! Sorry to be pessimistic but better you are warned!
luludood... at Yahoo! Answers Visit the source
Other answers
Hello Caterer, I just completed an English course on 'starting your own business' with MATI. It was once a week in the evening. It was great! Some of the topics were marketing, banking, taxes, selling, accounting, loans and grants! They gave equations to calculate how much money you need to start and stay in business until you can make enough to cover your costs (very important info, not to go bankrupt). All questions were answered. You can talk to the coordinator, Judy Feierstein (08) 926-6102 or 050-573-9496 [email protected]
Denny H.
I cannot see why anyone would give you a grant when you already have a job, they are like gold dust for the unemployed. If you are going to do outside events you just need normal kitchen equipment. if you are going to supply crockery and glasses these can be hired or you can buy from catering auctions (which we did). I'm not sure what you want the money for. My husband and I had a catering business and we ran extra events from home ie: weddings and parties, so can't see what you need funding for. Don't forget you will need all the Food certificates, a knowledge of HAACP and your kitchen must be inspected by the EHO. You will also need public liability Insurance.
Kernow Lady
I currently work full-time in a restaurant/ nightclub, and I've recently gone part-time into a catering business of my own. I currently utilize the resources of local catering companies who will allow me to use their services at a low-price and allow me to resell the services. The first thing I did was create a marketing brochure. Now since I'm a graphic designer, I was able to personally design the printing materials and used an online printing company to print everything. Basically you'll want to create brochures and business cards that'll showcase the types of foods you'll be offering (doesn't have to be something you created). Include prices. In order to get the business, I've literally went door-to-door to major businesses, left business cards and menus (brochures), and I've been working hard at getting good referrals. Remember many caterers are suffering and would be happy to work with you for extra money. If you need any other info, feel free to email me.
DogLover
I cannot see why anyone would give you a grant when you already have a job, they are like gold dust for the unemployed. If you are going to do outside events you just need normal kitchen equipment. if you are going to supply crockery and glasses these can be hired or you can buy from catering auctions (which we did). I'm not sure what you want the money for. My husband and I had a catering business and we ran extra events from home ie: weddings and parties, so can't see what you need funding for. Don't forget you will need all the Food certificates, a knowledge of HAACP and your kitchen must be inspected by the EHO. You will also need public liability Insurance.
Tavy
I currently work full-time in a restaurant/ nightclub, and I've recently gone part-time into a catering business of my own. I currently utilize the resources of local catering companies who will allow me to use their services at a low-price and allow me to resell the services. The first thing I did was create a marketing brochure. Now since I'm a graphic designer, I was able to personally design the printing materials and used an online printing company to print everything. Basically you'll want to create brochures and business cards that'll showcase the types of foods you'll be offering (doesn't have to be something you created). Include prices. In order to get the business, I've literally went door-to-door to major businesses, left business cards and menus (brochures), and I've been working hard at getting good referrals. Remember many caterers are suffering and would be happy to work with you for extra money. If you need any other info, feel free to email me.
DogLover
Hello Caterer, I just completed an English course on 'starting your own business' with MATI. It was once a week in the evening. It was great! Some of the topics were marketing, banking, taxes, selling, accounting, loans and grants! They gave equations to calculate how much money you need to start and stay in business until you can make enough to cover your costs (very important info, not to go bankrupt). All questions were answered. You can talk to the coordinator, Judy Feierstein (08) 926-6102 or 050-573-9496 [email protected]
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