In today’s epidsode, we discuss the 6 key Reasons – why you should learn about the Catering Business in 2020 –
- The market is huge and ripe for disruption – As I mentioned in the previous podcast – Outdoor Catering Market is a 4$ billion market in India and $130 bn industry worldwide – growing at 25-30% CAGR. It has great growth prospects and is pegged to become a $5 billion market in times to come. Yet the opportunity lies in the fact that 90% of the market is still unorganized. That means there is a room for everyone.
- You don’t need any technical expertise as such – “You don’t have to be a Chef or a Hotel-Management graduate, to run a catering unit or any F&B business; you need hardcore business skills, people management skills and a little common sense.” But the irony sometimes is that common sense is not common. Jokes apart, shifting to the 3 point
- Catering has always been in demand due to very nature of the business inspite of banquets and Hotels growing. There is demand of catering in schools, colleges, offices residences etc.Even during Covid times, caterers have been busy fulfilling customer orders. I won’t be wrong to term it as Recession-proof business.
- To a restaurant owner, Catering can act as a lifeline to either Restaurants or cloud kitchens. It is a necesity for them to grow their business. You can make a month’s profit in 2-3 days depending on the scale and type of catering you do. Especially with the excessive reliance of restaurants nowadays on multiple food aggregator platforms like Zomato, Swiggy etc. charging absurd commissions of up to 30%, you can’t ignore a 0 commission business model of catering.
- Catering can be a perfect source for self-employment. No pre-defined cost unlike traditional food business like restaurants where you have to invest in a high street retail location, invest in interior, look and feel etc. Also, Your expenses stop the minute your event gets over and you can build a perennial stream of income for life with your repeat customers.
- Basis your existing skill sets, network and area of interest – you can build your brand in the preferred niche and make a passion into a profession.
For eg – If you the love the world of weddings or social events – you can choose the wedding or social events category to start you catering with.
Like in my case, I realized I had a good hold over B2B or Corporate Sales, so i built my niche towards the Corporate Events space. So you can always carve your niche with respect to your interests and passions to have a longer life as a caterer
I hope I have been able to provide you the right reasons of joining and learning more about the catering business.
About Podcast Host – Manvir Singh Anand – A Catering Success Evangelist, An Event Hospitality Expert, Founder & CEO of Knight Gourmet (#1 Prefered Event Hospitality & Best Caterer in Delhi, Mumbai & Chennai) and an 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 that should be it for this episode. Thank you so much for tuning in. If you enjoyed this podcast, please tag me on your instagram stories or linked in posts and I would be happy to give you a shoutout.