The startup costs are low, capital of at least $2 500 is sufficient to start the catering business. Consider starting your very own party supplies and event planning business! Our publicity strategy will be perfected into our advertising so as to build up our bottom line as well. Our strategic location in Manhattan p New York has us well positioned to not only generate enough revenue to cover for our start-up capital but to also ensure that we make profit in our first year of business to sustain and eventually cause us to expand our business. One of our competitive advantages is to hire only competent and experienced professionals into our company. Get to Know Local Event Rental Companies. As a rule of thumb, we recommend starting with a small catering events first. Therefore we intend to use the following publicity strategy to achieve our aim of promoting our catering equipment service; The pricing or rate a company sets on its products and services are very important. You can start a houseboat rental business in two ways. Our strengths are numerous and this is a huge plus for us going into this business. Starting a Tool and Equipment Rental Business. As a caterer it’s in your best interest to get … Asides that, we also intend to ensure that we deal with our customers professionally and honestly, holding ourselves to the highest standards in the field. Because we intend to offer various services now and in the near future, we intend to ensure that we employs several employees to handle these positions and to ensure that those we pick fit the positions and responsibilities we intend to assign to these positions at Zaras Catering Equipment Hire Service. If not, your company is lacking a critical business tool. Part of our strategy at Zaras Catering Equipment Hire Service is to engage in offering other services to our core service such as offering ushering services that will supply waiters to events such as weddings, corporate events and other such occasions. Have something to say about opening a catering equipment and supplies rental business? Why Start a Catering Equipment Hire Business? Are you about starting a catering equipment hire business? The threats that we are likely to encounter are a weakened or depressed economy as this will affect those that will need to hire our equipment, entry of serious competitors into the same location of our business, as well as governmental policies that might negatively affect our industry. You will be responsible for procuring the tools and equipment to rent, maintaining the tools, cleaning the tools, and overseeing the operations of the business. The relationship has continued to grow because no caterer can own all the equipment that will be used to cater for its clients which might vary depending on the demands of the clients. The kind of kitchen equipment you need will depend on what type of food you need to prepare and cook. However, to achieve the above stated aims, the marketing strategies must be thoroughly drafted so that money is not spent amiss marketing the business the wrong way. The company expects to participate in a variety of different industries, including commercial and residential construction and farm machinery. We intend to use technology to give our business an effective boost, by ensuring that we create an interactive website, make sure our social media platforms are active and also engage in enlightening discussions in various forums and blogs. Are You Selling to Catering Equipment & Supplies Rental Businesses? The catering industry and the rental industry has a relationship of over three decades that has helped caused a boom in the catering industry. In a catering business, thorough preparation, and a strong sense of creativity are keys to success. The equipment catering rental industry is getting sophisticated as values of partnerships continue to grow and more optimism being seen in the market as regards opportunities and growth for businesses in the industry. The catering business may be exciting, but it also comes with its own challenges. Step 2. Let your fingers do the walking by using the link below. From the market research we understand that we would be offering our catering equipment hire service to the following group of people; We are starting a catering equipment hire service in order to build a business that will make profit, be amongst the top five catering equipment hirers by 2021 in the United States of America, and also compete favorably amongst competitors. Thinking about opening a catering equipment and supplies rental business? We know that without our customers, our business would likely fail and since we are not in business to fail, we would treat our customers with the utmost respect and also offer them excellent customer service that will not only meet their expectations but exceed it as well. Try our link below to generate a list of competitors near you. We are starting a catering equipment hire service in order to build a business that will make profit, be amongst the top five catering equipment hirers by 2021 in the United States of America, and also compete favorably amongst competitors. Our market survey conducted on our behalf through a marketing consultant with experience in this industry, supplied us with detailed data that we will utilize when we begin perfecting our marketing strategies. For a basic catering operation, you’ll need refrigerators to keep supplies fresh, cooking equipment (including an oven, hob, fryer, and maybe a grill) and food preparation equipment. Zara, who holds a degree in business from Oxford University, also has an MBA from Harvard. Another way to jump-start a catering business is to use local venues to cater events. Technology has come to stay and businesses that have refused to adapt have lost a hold of their market share, which is why we intend to take technology very seriously when adapting it to our marketing strategies. To be the most preferred equipment hire service for caterers and event planners in Manhattan and to be amongst the top five in the United States by 2021. Our publicity will not only be intense but unique as well and as such we will deploy several strategies perfectly targeted at both our existing customers as well as our potential customers. Others require cloth, tablecloths, flatware and real glassware. Here's what you'll need for almost any event. We intend to offer different services that will yield several sources of income and in order to ensure that we remain in business for a long time; we will re-invest our earnings not only to boost our bottom line but also to ensure that we sustain our catering equipment hire business and eventually expand it as well. Hello!! And one of the first decisions you'll have to make is whether to start a business from scratch or buy an existing catering equipment and supplies rental business. Tent rentals tend to be a dynamic business; often operating without a storefront, rental companies perform all services at the customer location. Even though, revenue dropped slightly in 2011 due to the bad economy, it has been projected that the continued economy recovery will continue to aid the industry through 2021. Furthermore, we intend to carry out constant trainings for our employees and also ensure that they have the best welfare packages that can be obtained in the industry. Some of the services we intend to offer are; The business structure is a very important foundation for every business especially a start-up that is looking to make an impact in this industry. Also, most of the equipment being manufactured are tending towards efficiency as well as labor saving solutions. Prior to opening a catering equipment and supplies rental business in your town, it's a smart move to find out how many competitors you have. With the right ingredients, your business plan will keep you new venture on course and help you avoid the pitfalls that plague other startup entrepreneurs. For a comprehensive list of catering equipment and supplies rental business and other business franchises, click the link to visit Gaebler's franchise directory. Before even starting to come up with a name for your future company, you have to study the local market of rental equipment. - Duration: 4:56. Due to the fact that every business faces threats either during start-up or whilst running the business, we can for a certainty say that we are ready for any threats that we might encounter during the course of starting or running our catering equipment hire business. There are many factors to take into account which will help influence your final decision on whether to start a business in this growing industry. We intend to be more than a regular catering equipment hire service, and so we intend to deal in offering various services that will ensure that we not only meet up with the expectations of our clients but that we exceed it as well. If you are still exploring all of your options, please browse our directory of guides below. Find a niche and trading technique. Solid franchise opportunities equip startup owners with training and other resources designed to streamline workflows and operations. How do you find a catering equipment and supplies rental business manager in a different locale who can assist you? 1  You can start small, catering events you can manage on your own or with a couple of helpers to see if a catering business is really something you want to pursue. Every business established to make profit, does not stop at generating income but also seek measures by which the business can be sustained as well. You may opt to have some tables or a counter where you can discuss times, venues, and menu options. If you’re a good cook and you like to entertain groups of people, starting a catering business might be just the career choice for you. The lowering of our prices will be done in careful consideration of the before mentioned factors, this is to ensure that we will not run at a loss during the course of lowering our prices to attract customers. Knowing how important a location is to any business, we have chosen a strategic location in Manhattan – New York that is accessible to our customers as well as our employees. Evaluate Competitors. As the primary stakeholder in your catering equipment and supplies rental business, you will intentionally need to insert yourself in various stages of the plan's development. Technology allows the business become more competitive, offer high end service and maintain its equipment as well. The payment options we intend to make available to our different customers are; The above platforms were chosen after a careful consideration in conjunction with our bank, which will ensure that whatever choice our customers pick will be without hitches. As the primary stakeholder in your catering equipment and supplies rental business, you will intentionally need to insert yourself in various stages of the plan's development. Application and Obtaining Tax Payer’s ID: Application for business license and permit: Drafting of Contract Documents and other relevant Legal Documents: Graphic Designs and Printing of Packaging Marketing / Promotional Materials: Creating Official Website for the Company: Creating Awareness for the business both online and around the community: Health and Safety and Fire Safety Arrangement (License): Opening party / launching party planning: Establishing business relationship with vendors – wholesale suppliers / merchants. We also took it further by analyzing and drafting a sample catering equipment hire marketing plan template backed up by actionable guerrilla marketing ideas for catering equipment hire businesses. Asides, these qualifications, Zara has years of experience in the equipment leasing industry as well as the catering industry and will therefore bring her experience to bear in the business. A catering equipment hire business is one where you get catering equipment in bulk and then hire it out for caterers, event planners and other sort of people who are looking to use these equipment for the occasion in which they are in charge of. We know that if we stick to these measures, we will attain our sustainability and expansion measures successfully. He is the Executive Producer @JanellaTV and also doubles as the CEO, POJAS Properties Ltd. A Sample BBQ Restaurant & Catering Business Plan Template, Catering Business Plan – Financial Projection Sample, How to Write a Catering Business Plan [Sample Template]. We also intend to ensure that our equipment are of a very high standard. The loan by the bank was just recently approved and Zara is expecting her business account to be credited at any minute. Obtain Licences & Permits Once step one of how to start a catering business is nailed down, you have to know if you are operating as a home-based or commercial caterer. “I have seen new businesses start by catering events at firehouses or churches, for example. However, to achieve the listed factors, we intend to come up with strategies that will give us a competitive advantage in the industry. Buy enough equipment to be able to comfortably plan for many parties at once. This will help you build up your confidence and experience before tackling the bigger and more lucrative gigs. - And with No Startup Money! All rights reserved. The Balance Small Business Menu Go. Sumptuous Cuisine Catering Executive Summary . Instead of blowing all of your money on the newest and best equipment you can find, consider your alternatives. The right business plan writer can give your catering equipment and supplies rental business a competitive edge over other startups in your industry. One trend is that some catering equipment hire services are also offering catering or decorating services to their various customers in order to boost their revenue. Don’t forget the dance floor or a fashion runway. However, as the business grows (as of course, it will!) To assist your efforts, you may want to consider enlisting the aid of a professional business plan writer. In terms of catering equipment, startup caterers can simply rent items like crêpe machines or chocolate fountains for some events than purchasing their own. One is by purchasing the houseboat and offering on rent. We however intend to spend the bulk of our capital in buying the catering equipment, getting a delivery truck as well as pay the salaries of our employees and also pay some bills as well. In setting a price, several factors have to be put into consideration, such as what overhead expenses the company incurred, what its operating expenses are, and what its similar competitors in same location were offering the target market. Also, the innovation in the industry has seen rental companies up their games and offering creative consultation in addition to project management. Hire a seasoned and creative event planner. Our vision is to be the preferred catering equipment hiring business in Manhattan – New York and to be amongst the top five brands in the United States of America by 2021; this we intend to do by ensuring that we engage in standard business practices that are honest and transparent to our customers. If the competition is too tough, you may need to think about starting the business in a different area or even start a completely different business instead. How Much Does It Cost to Have Three Phase Power Installed in USA? Make sure that rent or the purchase price is within your projected budget to stay on track with your financial projections. You can also rent catering equipment and hire temporary staff to operate your catering business. Indeed, many experienced entrepreneurs enjoy offering advice to startup entrepreneurs. About a year ago, I decided to venture out and expanded my … 4.1 Target Market Segment Strategy. Zaras Catering Equipment Hire Service is owned and run by entrepreneur and businesswoman Ms. Zara Green. I’m a passionate food blogger who loves to create new recipes and share them with the world. It can take a while to find an entrepreneur who is willing to talk, but it's well worth the effort. This is because they would better understand how to help grow our business from where it is to where we intend it to be. Tough decisions are what business ownership is all about. If you are not sure what equipments you would need to start a business, then the first equipment you would need is "knowledge" about the business. Step-by-Step Guide on Starting a Catering Business. Working with an equipment checklist when catering events off-premise can save the day. My name is Amanda Mason and I’m the owner of Recipes Worth Repeating! Generating Funding / Startup Capital for Zara’s Catering Equipment Hire Business. Also, we offer various consultation and advisory services to several start-ups looking for guidance into entering this business. Arguably the most valuable contributions come from doing the groundwork involved in creating a strategic vacation rental business and management plan – long before you even hand over the deposit or receive the keys. Entrepreneur FeaturesEmployee to EntrepreneurSmall Business EthicsGood Business BooksStudying EntrepreneurshipHow Kids Make MoneySocial EntrepreneurshipMergers and AcquisitionsEntrepreneur Blogs. Book Renting. Is It Easier to Buy an Existing Catering Equipment & Supplies Rental Business? However, that there are fewer demands during certain periods of the year does not mean that as a standard catering equipment company, we cannot find other means of exploring the market and ensuring our services get better. You provide customers with access to the latest tools and equipment needed at a low cost. Our other weakness is in the fact that we do not yet possess a mobile app as other catering equipment hiring businesses. Simply enter your city, state and zip code to get a list of catering equipment and supplies rental businesses in your town. In charge of making sure that the premises are secured during and after work hours, Secures the property of staff during work hours, Gives out relevant security tips to staff regularly, Network with established caterers and event planners by introducing our businesses to them and other stakeholders, Place adverts for our business in local newspapers, on radio and television stations, Advertise our catering equipment hiring service in food magazines and other related magazines, Open our grand opening party with a bang so as to create awareness in our target market. We will be offering other services as well such as ushering services and consultancy services. This business is usually a capital intensive one as it would require you buying several items in bulk so that you could conveniently hire out to several customers. We intend to ensure that our catering equipment are of the highest quality because this will ensure that our equipment last for a very long time. Most places require a business license and possibly a catering license or permit so that you can prepare and sell food. Therefore we have several strategies on ground such as ensuring that we retain our loyal customers, re-invest our earnings in order to boost our bottom line, as well as hire competent hands that will help achieve our sustainability and expansion objectives. We also intend to attend fairs so as to better reach our customers and network as well. Also, we intend to pay our staff very well, and ensure that we create great welfare packages for them. 10. Prior to opening a catering equipment and supplies rental business in your town, it's a smart move to find out how many competitors you have. Copyright © 2021 Profitable Venture Magazine LLC | All Rights Reserved | See About Us | Contact Us | Privacy Policy | Disclaimer. You may not have rental costs if you operating the business from home. This industry has been very profitable for investors. 22 Steps on How to Start a Party Rental Business from Home Franchised business startups give new business owners instant access to a proven workplace routine. You would need to supply the business consultant with certain information that would help make his research accurate. We intend to ensure that we not only meet our customers’ expectations but exceed it. These additional resources regarding getting started as an entrepreneur may be of interest to you. The revenue in this industry is pegged at billion and more than 9,500 catering equipment rental businesses exists in the united states of America that employs more than 50,000 people. As caterers, not only is it your duty to cook what is requested from the menu. For instance, we are constantly networking with several of our high end customers in order to be the preferred business when they intend to hire their catering equipment. Equipment Needed for Catering Business. Because we know that it takes more than one person to achieve the above stated vision, we are willing to source for and recruit competent and also an experienced management team who will not only key into our vision but know what is needed to ensure that we attain the vision as at when due. We are willing to go a step further by ensuring that our employees are well paid and that they work in a conducive environment. Our management team will also willingly communicate our core values to the lower end staff. Equipments needed to start a catering business. Degree in business to hire out our catering equipment to customers business requires a of. A huge plus for us going into this business is a business license possibly. Employees are well paid and that they work in a variety of different industries, including measurements, and rental. Owner of Recipes worth Repeating your ultimate success planning section to know to a... 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