Cooking for others may just be one of the most satisfying things one can do. If you have ever found yourself feeling proud and accomplished every time people enjoy the food you cooked for them, then starting a catering business might just be the next career path for you.
Although it will not be an easy task, someone who devotes their time, effort, and proper research may just find success in catering. Manila, Ortigas, Makati, and other business districts in the Philippines often host corporate events, holiday parties, or just general get-togethers which provide plenty of potential clients to those that may try their hand in the catering business.
But before you begin your journey into the catering service business, you must first do a few preliminary steps even before putting a pan to the fire. Doing most or all of these steps would ensure that you enter the catering business with minimal risk and a higher chance of success.
Find out about other businesses like you
Really the simplest way to canvas potential costs, requirements, revenues, and other numerical data would be to evaluate similar businesses within your area. Hopefully, through simply talking to your potential customers (should they choose to share these kinds of information to you) you can find out the things they probably found out through trial-and-error.
You can also determine the smaller things and finer details only someone with thorough experience in this business would know. You can even find out, if you are perceptive enough, things your competitors might have missed or overlooked.
Look for a niche others might have overlooked
Catering is a business that is primarily focused on service, and just because of the sheer amount of different customers, not all of them may necessarily be satisfied with their catering service providers. Do your research in what kinds of services your competitors may offer, find potential gaps in their markets, and attempt to satisfy their needs. Identifying your potential target market allows you to focus on what the customer needs, not necessarily what you would like to offer to the client. Remember, tailoring your business to your specific customer’s needs yields better results than creating something that you like and then looking for the demand.
Determine what kind of catering business you want to be
Different markets have different needs, and because you have done your research, you should have an inkling on where you want to take your potential business. Depending on your customer, say a large corporate office in Manila, catering should always be specialized to their needs. Catering businesses should know what kind of food they should be preparing for their customers. Even seemingly mundane decisions like whether to cook and assemble the food at your own place or at the event premises can have a great impact on the success of the event.
Catering is a demanding yet satisfying business to be in. People, who enjoy cooking and having their food satisfy others, may find themselves finding success in this business.
Risks and pitfalls come with entering any kind of business, but with proper research, anyone can minimize these risks and increase their chances of finding success.