The idea of making, creating, and serving up culinary treats through your own catering enterprise is something you have held close to for a long time. Now it is time to turn that idea and long-held dream into reality. However, where do you start? What do you need to focus on first, and what do you need to put into action?
What Is Your Business Name
To begin with, you need to start thinking about what your business name will be. If you focus on the name as more of an afterthought, you may find that you have to settle for a not-so-preferable name. When you are coming up with a business name, think about what it means to you, and also think about what it looks like to customers. For example, quirky names may sound good, but are they suitable for catering businesses, restaurants, or cafes?
What Products Will You Sell and Why?
Once you are happy and settled on a name, you must then think about what products you will sell and why. The items you choose to sell may be restricted by the venue or premises you are in, so think carefully about what you are interested in making, cooking, baking, and selling to customers. For example, are you going to offer burgers in a burger tray, or are you going to offer cooked meals that are eaten inside a venue? To truly establish what products you will sell, you need to think about what venue or setting you to want to operate in at the same time.
What Niche Will You Offer or Have?
Competition in the catering business can be intense, and to overcome this competition, you need to know what niche you will have. For instance, are you going to offer vegan products? Are you going to focus on just selling desserts and sweet treats? Are you going to be more eco-friendly and green than the catering business across the street? What is going to help you stand out in the mind of your customers, and what is going to get you noticed and seen by your target customer?
What Are Your Startup Costs Going to Be
There are going to be startup costs associated with any catering business, so do you know just what they will be? Getting to grips with costs and finances is important, especially in those crucial first months. Knowing how much you need to turn over to make a profit is essential if you want to build a sustainable catering business. When you are putting together startup costs, you need to think about getting licenses, sourcing supplies, and also marketing your new business.
Who Are Your Competitors?
Every catering business has competition, and you need to know who yours is or who it is going to be. Are you in direct competition with others, or are you starting up in a relatively quiet market? The more that you can find out and uncover about your competitors then, the more planning you can put into place.
