Being a great chef and having strong catering experience is not enough to make a catering business succeed. Catering business owners need to handle the challenges of making big business decisions as well. They need the financial skills to pick competitive prices, negotiate deals, and balance the budget. They’ll need to know how to market and advertise the business. They also work in a human resources capacity, handling payroll issues, hiring employees and dealing with conflict among stuff. It requires a high level of culinary experience and expertise as well as being able to deal with stress and working long hours.
But do not despair! If you love food and beverage, and dream of running your own business then definitely do not give up. In fact, according to information from the National Association of Catering Executives (NACE), the success rate of catering businesses can be higher than a restaurant because the overhead is much lower and employees are only needed for planned events.
Often, the simple acknowledgement that a business owner needs is to have business owner skills to compliment the industry capable skills – this is a useful step. Having these reviews with a professional to work out where you need to improve is the next phase, and the final step is actually taking the leap and being humble enough to accept that most experts did not become expert without additional training from a professional support team or a mentor. Don’t be stubborn and rely on learning through trial and error. Seek and accept the help of experts who can speed up your success and achievement rates.
In a day and age of technology, you may find some great tools to facilitate your catering business with staff apps created specifically for caterers. Your needs are more unique than you may realize as you are working in various locations and remote staff that can be difficult to keep track of. You don’t need to go to business school to figure out how to get the right payroll and salary reports, nor do you need to become an Excel expert to learn how to schedule shifts. Rather, use the software solutions available to you for scheduling, communicating and paying your staff directly.