Catering Business: Follow The Checklist To Start

For many people, catering seems to be very attractive and easy-to-manage business. They perceive it as a profitable business with very little hassle involved. If you are planning to set up your own catering business, you have to change that general perception you might have in your mind.

Like all the other businesses of the world, this business also requires a proper business plan and a proper feasibility in black and white. Without a detailed plan you are not going to find any customers for your business and could end up losing all of your precious investment in it.

As far as the profitability is concerned, yes, it is profitable but only for those who have done it with prior planning and organization. There are many individuals who have lost handsome amounts of money in the desire to be a successful caterer. So, better ask yourself a few questions now and plan according to the situation you will have to handle in the future. Here is the list of factors you should consider before making any investment:

Select a Strategy

The first question you should ask yourself is about the strategy you should choose. The two main categories of catering business are niche and general. Catering for selected groups or events is niche and provision of services for every type of event is a general strategy. Different types of events or celebrations include wedding, birthdays, engagements, anniversaries, parties, business conferences, etc. You may wish to serve households or business people, or you can divide your segment on the number of people you can manage to serve.

My advice for you is that if you are working in a large city go for niche marketing, because existing large competitors will not allow you to grab their share easily. A niche will allow you to specialize in a particular segment and earn profits by going for small but high paying jobs. In this way you will be able to compete with a long list of competitors effectively. On the other hand, if you have set your business up in a small town or district, you can be successful with a general strategy, since people won’t have many options to choose from and your good reputation will travel quickly by word of mouth.

Create the Best Menu for Customers

Perhaps the biggest and most crucial factor that needs your emphasis and attention, is the selection of the menu. In order to survive in this ever-growing competitive age, you need to have multiple menus with a variety of dishes in each. Include all those dishes that you think you or your cook is an expert on and can guarantee that every meal prepared will really stick out and help to build that status that you’re looking for in order to get more business. Offer your services in packages, so that a client coming in has three to four menus to choose from. After all, this is something you are supposed to be good at and your customer’s satisfaction is solely dependent upon the taste of the food you are going to serve.

Managing Cash Flow and Marketing

How you are going to finance your business is another decision you should make soon. The initial and later requirement of cash in hand is the biggest problem you will face while catering for your first customer. Planning how you are going to attract the chain of customers will make you think about the inevitable marketing expenditure. To develop an excellent business reputation and to grab a handsome market share you need to make some investments in advertising and marketing for your services.

Hire Your Manger

This is something people generally understand after some time. They are reluctant to hire someone as their manager or assistant, but when things get out of control, they eventually have to hire someone on an emergency basis. This situation leads to the hiring of not-so talented persons in the end. In order to avoid this chaotic situation, you should hire a trustworthy and qualified manager or assistant well before time.

Managing Human Resources

Collecting a bunch of qualified and experienced staff is another important task you need to accomplish before launching yourself in the market. No matter how experienced you are by yourself, you need to have individuals who can coordinate all the little details of the event being catered. Some of your staff should be able to cook as well as guide you on food storage and movement, whereas, some should possess specialized skills in particular areas.

Gain Some Experience

You cannot manage the whole business all alone. There are so many people and materials to manage in the catering business. Logistics, for example, is ignored most of the time as you need to have someone to monitor your cooking, packaging, marketing, finance etc.

In short, by focusing on all the above factors before venturing into a catering business, you would be able to increase the chances of your success substantially.

Brazil: A Great Place to Invest

Brazil is well known for samba, pretty women, soccer, and the beautiful beaches along the country’s shoreline. But is there any possibility someone can think of Brazil as a potential investment opportunity? You are likely to have an outstanding investment return if your answer to this question is yes. As a matter of fact, intelligent and well-diversified investors around the world have been investing in emerging economies around the globe such as China, India, and Brazil. They look for diversification and potential advantage from declining interest rates.

Brazilians started to see economical and social improvements when former president Lula (2003 to 2010) performed an excellent job neutralizing opposing political forces and maintaining an optimistic view of the country’s natural resources. Indeed, Brazil has the world’s largest fauna and flora due to its vast territory and a mixture of climate conditions. Moreover, Brazil is not only self-sufficient in oil but it has a variety of energy sources such as ethanol and wind. This is a great reason why a great number of investors are starting to explore the country’s natural resources and biodiversity.

Worldwide investors can also explore Brazil’s abundant production of commodities such as coffee beans, crude oil, and iron ore. On top of that, Brazil is going to host the 2014 Soccer World Cup and the 2016 Olympics. The money generated from hosting those two major events is immeasurable: the major beneficiaries are tourism, services, transportation, and civil engineering. In the past decade, Brazil has been attracting business from all over the world, which has been directly impacted the country’s population. In other words, around 20 million people have left poverty in the past few years and the same amount of people has incorporated the top social classes in the country. Brazil’s strategic geographical position and the respect that the country has gained from other countries placed the country at the most powerful economy position in South America.

Still not convinced that Brazil is a great place to invest? Brazil’s stock and bond markets have been booming during the past few years. Since 2006, BM&F Bovespa (brazil’s stock exchange, the world’s 3rd largest stock exchange) has been outperforming MSCI World Index and the country is expecting a $610 million sale in 10-year bonds in the near future.

Even though Brazil has been seen as one of the top countries to invest in the past decade, there are still several issues to be aware of. The country has been well known for its political corruption and the proliferation of the “favelas”, slums located in major cities where people that undergo economic underdevelopment live. A movie called “Elite Squad” was released a few years ago (I highly recommend this movie) where it shows how critical is the situation of those slums located in Rio de Janeiro and how the system has been struggling to overcome corruption problems. Because of the major problems Brazil faced decades ago especially high inflation and currency crisis, political parties still lack in transparency. Indeed, many cases were released through the country’s media showing political representatives using government money for personal purposes.

Analyzing historical data is always extremely important before committing money into an investment opportunity. However, analyzing the present situation of Brazil outweighs possible negative returns in an investment because smart investors invest for the future. The future of Brazil is almost certainly to be bright and prosperous, so take advantage of this great opportunity and invest in the Brazil’s investment opportunities such as commodities, stocks, bonds, and real estate. As a true Brazilian, I had the opportunity to see the beauty of this country from north to south, taste its amazing food, and experience the country’s amazing culture. But if you are not as fortunate as me and you are looking for a travel destination, go to Brazil and see it for yourself. And then invest in it.

There Are Many Benefits to Consider When You Start Your Own Marketing Business

This information alone could save you hundreds, if not thousands, of dollars a year.

Do you pay taxes?

The middle class, which includes most of us, are asked to pay a lot of income tax.

This business is your opportunity to experience some of the same tax benefits the wealthy enjoy.

You can get started in a highly profitable home business for less monetary investment than you think… and you may be able to deduct expenses such as:

- Your vehicle
- Your home office
- Meals and entertainment
- Your children
- Travel
- And more

You can never lose a properly documented business deduction as long as you run your business with a legitimate business purpose and have an honest expectation of profit.

Good news, right?

Become a Profitable Social Networker

By now you’ve heard of Facebook, LinkedIn, YouTube, Digg, etc. And chances are you have an account with one or more of these “Social Networking” sites. These sites are fun and have great power to connect with people. But what if you could connect to people and earn a little extra money for doing so?

With all resources available today, you can combine your personal network, your online social networks and your new friends in your business network to grow your new business. Because so many of the resources in Web 2.0 and Social Media are free, people don’t have to be face to face to get all the benefits of word-of-mouth marketing. You could now attract people to this product using more resources than ever before. Rather than investing hundreds of dollars in advertising or buying leads, you have access to hundreds of your real-life acquaintances and colleagues all at your fingertips because of the Internet.

Using Technology to Get Ahead

“A growing number of distributors are placing orders through their company’s web site instead of using the usual faxes or snail-mail orders. Distributors are using… web sites for help in recruitment and training… and as a channel for customer reordering.” – Fortune, The Power Issue, vol. 148, No. 3

Going hand-in-hand with the social and networking aspect of this business is how many companies hav implemented effective communication and information technologies through Internet.

By sending people to your site, the hard work is done for you! Your site presents the opportunity to each person in a way that allows them to choose the information they want to see. Then, it helps you close the deal and train your new distributor through email, video and other media.

Your job is to get people in front of the system.

It’s Easy to Try Network Marketing

Right now, we’re all being a little more careful with our money. You don’t see many people opening their own commercial business. It’s expensive and risky. Not with Network Marketing. Actually, more people look at building their own business through Network Marketing when the economy gets scary.

Why?

Because of the low cost of entry. And there is no better way to start a business than with Network Marketing. You can start your own business today, like I did, for just $100 or $200. That’s all. And the only risk is in how hard you decide to work to tell people about this product. It’s a decision that could fuel your desire to succeed at a home business and, possibly work your way out of the “corporate” market.

Network Marketing is safe, easy and a convenient way to explore more income possibilities without quitting your current job or investing a ton of money in a risky commercial business plan.

The Rewards Are More than Monetary

At this point you have an idea of the personal, social and economical benefits of starting your own Network Marketing business. What other perks could there be?

Consider these benefits:

- Set your own hours.
- More free time for yourself and/or family.
- Take vacations when it is convenient for you.
- No stressful or expensive commuting.
- Freedom from corporate structure and pressure.
- Potential to earn life-changing income.

It’s Not Just a Sales Job

I hope you can see why I like being in business for myself so much. Aside from being the best opportunity in the current economy, you get these benefits:

- Tax write offs and benefits
- A new social network that helps you earn money
- Cutting-edge technology-easier to be in business than ever
- Easy to try… even while you’re still working your day job
- Lifestyle improvement-time, money, vacations, lower stress

We can get you started today. I’m ready to talk when you are.