This is a Script of the Podcast shared.
In today’s episode, I’m taking sometime to share my story and why am I starting this podcast. Further, I will share with you brief sneak peak into the Catering Industry basics.
But Before I start, I would like to share this beautiful quote by John Lenon – ‘Life is what happens to you while you’re busy planning other things’ – That’s exactly how I feel when I look back upon my 8 years in the industry
I started my career as Management Consultant working across geographies and helping multiple Fortune 500 companies with process and business risk advisory. I had my first experience at catering while running a struggling cloud kitchen, which was looking for survival in a price-conscious market of New Delhi, India.
Amongst my partners in the initial cloud kitchen, I took the lead to initiate catering as a way to open a new sales avenue. Destiny favoured us and it grew exponentially. It started feeding the retail side of our business, which eventually yielded a better value for our company when we planned to sell chain. After my exit from the business, I was happy but in a dilemma. I was unable to decide whether I should go back to the F&B business or should I change my industry altogether
Finally, I enrolled myself in a recognized culinary program in India and then in London – ever since I have been running a Company called Knight Gourmet which has scaled to 3 local offices, 11 states, 30 cities and served over 1.35 million people as on date. But, in hindsight, I look back and consider getting into catering as one of my best and most rewarding decisions and it defined me into what I am.
Looking at the rampant levels of unemployment due to the pandemic, My objective of starting this podcast was a conscious call to drag the attention back to the Catering Industry and recommend it as a viable “self-employed” career option to the youth and as an effective mechanism of sales growth for restaurants. It can be highly rewarding and can started with minimal investment.
So, Further, in today’s podcast,
We will share about the basics of the Catering Industry –
About what Catering is?
What’s the opportunity like?
And Why this is the best time to be in the Catering business?
Firstly what is Catering?
Catering, by definition, is the business of providing food service at a remote outdoor site or an indoor site such as a hotel, banquets, hospitals or convention halls.
So as mentioned Catering if of two types
Indoor Catering for Hotels, Banquets and Club Houses – where opportunities are limited
Outdoor Catering – at any independent venue like office, house, convention halls or remote sites
I always believe in the power of building your focus and my entire podcast series would be dedicated to
OUTDOOR CATERING – THE LAND OF INFINITE OPPORTUNITIES
Secondly before I deep dive – I would love to share with the size of the Catering opportunity and scope of business in the market
- As per industry estimates, Catering is 4 bn dollar market in India and 130 bn dollars across the worldwide
- Above 90% of the industry is unorganized with caterers from different niches. For eg – Caterers focusing on their niche of either Weddings, Corporate Events, Religious events etc – This means there is room for everyone in this business. You just have to identify your niche and build capability.
Thirdly – Why do I say that this is the best time to be in the Catering industry?
- People in general are refraining from visiting bars and clubs due to of social distancing norms, instead they prefer smaller, private gatherings at their office and home
- Focus towards outdoor catering will increase in times to come with the Trend of catered events shooting up, creating more opportunities for more caterers in their niche. We will have a dedicated podcast focused around building your niche
- Now you can build you brand and credibility faster with the power of digital. You don’t have to wait 30 years like earlier to build your credibility – do good work and manage a good online reputation, will help you settle down faster into the business.
- Small gatherings are great to learn the craft of catering. The beauty of these unprecedented times is that you get the opportunity to test waters with smaller gatherings starting 10 pax to 100 pax, ad you are at par with all other caterers sitting since a long time in the business
Lastly, I would like to conclude by sharing with you – Why I recommend Outdoor Catering as an opportunity of a lifetime?
I will share my 7 points of Outdoor Catering Success Blue-print, so here it goes
- You can start with Lower Startup Cost
- Catering has a High Upside potential due to the trend of catered events increased
- It can be Scalable business Model – giving you access across geographies through credible partnerships
- If done the right way – you can build an Asset Light Catering business
- All you need to begin, “is just a client”. The moment you have your first client you are good to go!
- Flexible Staffing – You have the advantage of increasing and downsizing your company – helping you build an agile business
- It’s an efficient Working Capital business which can generate positive cash flow in the shortest times
So considering these 7 points, I consider Catering as the most profitable niche within the entire F&B Business Ecosystem. That’s it from me today.
About the Podcast Host – I’m Manvir Singh Anand – A Catering Success Evangelist, An Event Hospitality Expert, Founder & CEO of Knight Gourmet and a Author of the Best-selling book “Catering your way to financial independence”. I’m on a mission to build 100,000 self-employed professionals in the Food Service industry. So welcome again to the Catering success podcast, wherein each episode we will share a step by step process for you to start a thriving catering business.