Getting Started with a new Catering Business

Getting Started with a new Catering Business

Here are some of the very first things you need to do before starting your catering business.

Write Your Business Plan

The business plan is vital, not only to document your long term plans for yourself, but to help you get backing.

The best way to write a really good catering business plan is to see it as a recipe.  It is a recipe, the recipe for your success.

• Summary

The brief overview of the business idea and the contents of the business plan

• Concept

Your inspiration, the type of food you will be serving, the type of catering establishment. Importantly your unique selling points (USP’s) go here as well.

• Competitor Analysis

Brief details about your competition and were you’ll sit in comparison

• The Current Market

Detail the local and wider market.  Why you will succeed.

• Your Target Demographic

Who your concept is aimed at, why it will appeal to your chosen demographic, why they’d spend their money with you.  Even include their salary range and lifestyle.

• Design

The style and atmosphere you want to achieve, a photo of your restaurant plan mood board.

• Location

If you have found premises, why it is perfect.  If not, your potential areas, localities and styles of buildings that you are considering.  Or van, trailer, depending of the business.

• Sample Menu

Your working sample menu.

• Marketing

Include a comprehensive marketing plan that explains how you intend to market the business and bring in business.  Do this for before launch and for the first year of trading.

• Business Model and Structure

This is your expected profit margins, your price point and your strategy for coping with increases in prices, margins and so on.

• Management

Brief overview of staff structure.  Your role, your qualifications and relevant skills and experience.  Any team members already hired and the perceived experience and qualifications of staff yet to hire.

• Financial Forecast and Budget

Add a pro-forma profit and loss for the first five years

Include a logical perceived break even analysis

Remember a capital purchases budget.

Market Research

Before you start it is important to know your business – check out the trends and position of the catering business globally, nationally and locally.

Competitor Analysis

Look at what already exists in your area, how successful they are and if they are not why not.

List the competition on a spreadsheet and list things like type of food, promotions, their opening hours, service model, what they do well, weaknesses, what overlaps with your model.

 List what you bring that is different.

Branding

Your branding should match your concept board and your trading name should compliment so that the name, internal and external all match and complement each other.

Website and Social Media Accounts

Once you have your concept and are certain of the direction the business will take, then start designing your website and social media accounts.  Be ready to market the business before opening day.

Insurance

You will need insurance for the catering business, some are essential to have by law and some would be foolish not to have and there are other options you might want too.  For great helpful and knowledgeable information go to http://localhost/cateringinsurance2/

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