The start-up costs for a catering business will depend on cooking materials and can range from 100,000 – 300,000 naira if you work from your home kitchen and approximately 2m-30m Naira (if you outfit a professional kitchen depending on your location). Most caterers do the cooking on-site, either using their own facilities or equipment provided by the clients.
It is almost impossible to start a catering business alone. You should hire temp workers, because the business is so demanding.
The income potential of catering depends on the size of your customers. Like any other business, however, catering requires excellent marketing, selling, management and organizational skills for the business to succeed. Your ability to keep your operating costs down while maintaining a high-quality service is key to surviving in the hussle.
The average projected client is 50 per day and the average profit earned per client is 700 naira, which results in potential revenue of slightly more than 35,000 naira per day, that is 245,000 naira per week. Some caterers will far exceed this earning per week with just one event or more per week, making over 2m naira on the average.
The earning potentials depends on the number and quality of clients you can favourably satisfy.
Know Your Budget Before You Order
Although this is often the first thing you may think about, it’s often the last thing that is figured out. For most caterers, pricing is determined on a dollar/person pricing model. So an easy way to create your budget is just to determine the total amount you want to spend and divide it by the estimated number of people. Having this number to start with will help the caterer get you more for your money! -Randy Peter’s Catering & Event Center
Most consumers want quality homemade food, rather than the junks which most fast-food offers. You can get request and do delivery to company’s staff for example and use this penetrating strategy to get contracts for events like birthdays, weddings, Bus Tours, Children Parties, Anniversaries, Ship Cruz etc. You don`t need to own a shop to start this business. You can also supply home-made quality juice and deliver on request, people care about what they eat and drink and majority of the people I know, no longer fancy the unnatural beverages and drinks. They want it fresh, cause its more healthier and many don’t mind the cost for the satisfaction.
This is a very profitable business which you can grow into a huge company. Just start small and get to work. Add quality services to your product, do promotion and ensure the products are of good taste and quality. The food has to be healthy as people are now being conscious about their health and what they eat. If they find out your food is healthy and tasty, well branded and packaged they would be more delighted when you respect their appointments and make prompt delivery.
Differentiate yourself from others by quality and not blabbing. Also render after sale services and always request their feedback, this will enable you understand their ever changing taste and adjust to meet the most current needs. Don`t force your product or service on them, give them their desires and exceed expectation. Each customer matters and must be treated kindly and respectfully.
This is just a petite hussle tips to beginning a catering business. If you desire more insights for your ideas please drop a comment. I love food- I can even be your first client. Don’t forget to market to me when you start.
Last Updated: 22 October, 2018