You may, like many have this notion that Restaurant & Catering go hand-in-hand, and are basically the same since a restaurant can offer catering services.
Based on official U.S. & Canadian survey data, Catering Businesses have proven time and time again to be more efficient to run, easier to start and more lucrative than restaurants in general.
If you take into account that nearly 85% of restaurant businesses fail within the first year, then look to Catering Service Industry Statistics, you'll learn that up to 70% are successful with the proper planning.
Unlike restaurants, Catering Services operate only when catering orders are received, and not open 12-18 hours a day like a restaurant would be. If you've walked into any catering business storefront in your neighborhood, you'll know that when their party package is completed & delivered to their client, they close shop as there is no reason to stick around which ultimately eliminates overhead "Food Costs, Utilities, Employee Salaries, Insurance, etc...).
The old saying that we as successful Catering Business Owners Believe and stand by is: A Jack of All-Trades Is A Master Of None!
Restaurants try to cover BOTH ENDS OF THE SPECTRUM, serving food in-house and also offering outside catering services which are often not planned out very well & eye-appealing compared to a catering business dedicated to setting up a gathering.
Catering Businesses live by the order, and strive to impress their clients through elaborate decorative pieces and food presentation which nearly always leaves a positive impression. That kind of client satisfaction usually converts to new REFERRALS in the catering business.
In order for you to increase business, referrals are a must, and you need to put 110% effort into all events whether you are servings & hot dogs & hamburgs, or expensive caviar at corporate gatherings. |