Competitor Name
Brief Overview of Competitor
[Sender.Company] will provide its client with the following competitive advantages:
(Competitive Advantage 1)
(Competitive Advantage 2)
[sender.company] ’s branding and positioning.
The [Sender.Company] brand is renowned for its unique value proposition within the catering industry:
[Sender.Company] is known for its extensive menu offerings, providing breakfast, lunch, and dinner customization.
The company is committed to serving top-tier cuisine prepared by skilled chefs and presented by a team of sophisticated servers.
At [Sender.Company] , excellent customer service is a hallmark.
[Sender.Company] stands out with its creative approach, offering innovative event themes and concepts.
The company prioritizes and accommodates various dietary needs, demonstrating a commitment to eco-friendly practices and guest preferences.
[Sender.Company] provides comprehensive event planning services, including venue selection, décor, and entertainment.
These unique values define [Sender.Company] and highlight its dedication to delivering exceptional catering and event experiences.
[Sender.Company] anticipates its primary customer base to encompass individuals residing or working within the area of the establishment. The company's comprehensive promotional strategy to engage this demographic comprises various components.
The catering business will proactively encourage delighted clients to refer other companies or individuals by providing financial incentives for each successful referral.
[Sender.Company] will initially invest in advertising placements within local newspapers and event publications to enhance brand awareness.
[Sender.Company] will utilize local business mailing lists and business association databases to distribute informative materials to nearby businesses. These materials will offer insights into the company's offerings, feature discounts, and incentivize individuals to consider [Sender.Company] for their catering needs.
Outreach efforts will extend to local and regional newspapers and television stations, where press releases detailing the company's launch and its unique value proposition will be disseminated.
To maintain an active online presence, [Sender.Company] will maintain an informative website and circulate a monthly email newsletter.
Proactive interaction with prospective clients and strategic collaborators on diverse social media platforms, including (List relevant social media platforms), will enable the business to remain responsive to evolving customer requirements and preferences.
[Sender.Company] prioritizes catering to a wide range of client budgets while consistently delivering exceptional catering services. Recognizing the catering industry's susceptibility to price fluctuations, often driven by external factors, [Sender.Company] is firmly committed to offering competitive pricing that appeals to a broad clientele and reduces accessibility barriers. Additionally, a robust cost management strategy will be implemented to maximize profitability.
(Payment Option 1)
(Payment Option 2)
(Payment Option 3)
(Payment Option 4)
By offering these versatile payment alternatives, [Sender.Company] aims to ensure that its valued clients have a range of choices to align with their financial needs and preferences, ultimately enhancing their overall satisfaction. These options can be adjusted to remain responsive to market dynamics and evolving customer demands.
Date | Milestone |
---|---|
(MM/DD/YY) | (Milestone 1) |
(MM/DD/YY) | (Milestone 2) |
(MM/DD/YY) | (Milestone 3) |
These milestones underscore [Sender.Company] 's unwavering commitment to making consistent and measurable strides in its pursuit of success within the (Industry Name).
Source and use of funds.
[Sender.Company] will be receiving (Amount) from (Source of Fund) to launch its catering business. The funds will be used for capital expenditures, labor costs, and acquiring supplies and equipment. The following table shows the proposed startup costs:
Name | Price | QTY | Subtotal |
---|---|---|---|
Item 1 Description of first item | $35.00 | 5 | $175.00 |
Item 2 Description of second item | $55.00 | $55.00 | |
Item 3 Description of third item | $200.00 | $200.00 |
Subtotal | $230.00 |
Discount | -$115.00 |
Tax | $23.00 |
Total | $138.00 |
These are [Sender.Company] 's pro forma financial statements for the next five (5) years. It contains the business's income statement, balance sheet, and cash flow statement.
[Recipient.FirstName] [Recipient.LastName]
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Written by Dave Lavinsky
Catering Business Plan Outline
Start Your Catering Plan Here
You’ve come to the right place to create your catering business plan.
We have helped over 1,000 entrepreneurs and business owners create business plans and many have used them to start a new catering business or grow their catering company.
Below are links to each section of a catering business plan template example:
Next Section: Executive Summary >
What is a catering business plan.
A catering business plan is a plan to start and/or grow your catering business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.
You can easily complete your catering business plan using our Catering Business Plan Template here .
Catering services are available for a variety of different occasions including parties, weddings and corporate events.
The primary source of revenue for catering companies is individual, private events and corporate events.
The key expenses for catering companies are rent, wages and salaries, equipment and food costs.
Catering companies are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.
Starting a catering business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.
1. Develop A Catering Business Plan - The first step in starting a business is to create a detailed business plan for a catering business that outlines all aspects of the venture. This should include potential market size and target customers, market resarch on the catering industry, the services or products you will offer, business operations details, pricing strategies and a detailed financial forecast. You can quickly complete your catering business plan using our Catering Business Plan Template here .
2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your catering business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your catering business is in compliance with local laws.
3. Register Your Catering Business - Once you have chosen a legal structure, the next step is to register your catering business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.
4. Identify Financing Options - It’s likely that you’ll need some capital to start your catering business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.
5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.
6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.
7. Acquire Necessary Catering Equipment & Supplies - In order to start your catering business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.
8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your catering business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising.
Learn more about how to start a successful catering business and catering business planning:
You can download our free catering business plan template PDF here . This is a sample catering business plan template you can use in PDF format.
Photography Business Plan Template Event Venue Business Plan Template
One of the most important elements of starting a new catering business is to have a plan that lays out your plans, objectives, and activities that will be needed to get your business off the ground. Even if it is on the back of a napkin , a plan that outlines how you will get started and answers many questions for you and your investors is better than nothing at all. A catering business plan can save a great deal of wasted time and money. Using a catering business plan template guides the new business owner through the areas they need to address as they launch their new endeavor . Nothing is missed, and the template saves even more time for the busy entrepreneur.
This blog reviews what a catering business plan template is, what the important elements are that should be in every business plan and address several frequently asked questions many readers have.
A catering business plan provides an overview of a catering business that is already in operation or one that you plan to initiate. The plan looks to the future regarding expansion plans, goals and strategies, and operation plans. These goals and strategies are turned into actions that the business owner will need to execute to meet their objectives. For example, growing the business by 20% could mean adding ten employees, finding a larger building, obtaining financing to purchase more equipment, and developing a marketing plan to expand markets into other regions.
Using a catering business plan template saves you time and forces the business owner to think about and answer many detailed questions about their business plans, goals, and objectives. Using a template also means that you have a professional-looking document that will impress financiers you may need to secure funding for your expansion plans. Lenders look for specific details to be included in the business plan. Without this information, the likely hood of receiving approval for funding is low.
While using a catering business plan template saves time, developing a business plan takes a great deal of time and effort to gather all of the information and apply it to the business you want to create. Many people just want to get started with the business, which can lead to costly mistakes to be made and jeopardize the business’s success. A catering business plan properly developed using a template will save the business owner from making expensive mistakes and improve the opportunities for the business to be successful.
Creating a catering business plan in Word allows for easy formatting and editing. Loading your template in word gives you a quick base for adding the details of your business plan. Word lets you make quick changes, and save them easily. It is compatible with most text formats, and is a good choice for professional documents.
A food catering business plan should include all your start-up costs, and your plan for operating at a profit. Getting a business loan will require submitting a quality business plan. A template will show you everything to include. A clear, readable format will ensure that your business gives a professional impression.
Catering from home still requires a business plan to ensure you will operate properly. Using your homes resources for a business takes proper financial planning. Your appliances will wear out faster, and utilities will be higher. Including how to factor that into your costs and taxes will make running your business much easier.
The following are the essential elements of a catering business plan template. We will expand on each of these to provide more details.
The following are some of the frequently asked questions many of our readers have about catering business plan templates.
Business plans are extremely useful for several reasons: ᐅ Support applications for support from lenders ᐅ Planning operations, resource needs, and managing cash flow ᐅ Assessing the company’s profit margin ᐅ Setting objectives and milestones ᐅ Planning the growth of the company ᐅ Annual updates help keep your company on track
One of the reasons a catering business plan is useful to both operators and lenders is the prediction of the profit margin. The profit margin is the revenue minus expenses. Accountants can assist with the development of the predicted profit margin taking into account your predictions for sales, operating expenses, and depreciation on capital equipment. Lenders expect a positive profit margin in the first year of approximately seven to ten percent.
The food cost formula is the ratio of the cost of food ingredients vs. the revenue generated by these ingredients. Food costs must consider many factors, including the cost of the ingredients, storage, waste, inventory costs, and support costs such as napkins and garnishes. Food costs are sometimes focused on the cost of the ingredients only to determine the basic cost of a serving. Overhead costs such as storage, waste, employee, and building costs are added to this number to determine profit per meal.
A strategic plan for catering front ends the catering business plan. The strategic business plan for catering helps establish and answer questions about: ᐅ The size of the business at launch and the ability to grow ᐅ The type of catering – weddings, corporate, etc. ᐅ The location of operations and the area served ᐅ How the business will be managed? Strategic planning may include: ᐅ Market competition analysis, ᐅ Feasibility analysis ᐅ Operations analysis
The importance of a catering business plan cannot be understated. There are many advantages for the owner to develop a business plan and use it to guide his business development and growth. Is the business viable with the current plans, or do you need to make changes to elements of the business to give it a better chance of success? Will lenders loan you funds to help get the business started? When should the business expand? Which markets and what is the competitive environment in the area the business will operate in? These questions and more should be addressed in the catering business plan to help make the business successful. Using a catering business plan template saves time and guides new business owners through the topics they need to focus on as they launch their new catering business. Nothing is missed, and the template saves even more time for the busy entrepreneur. There is an advantage to reviewing the business plan at least once a year or sometimes more often to determine if changes need to be made, verify assumptions, and incorporate new facts learned during the year. These mid-course corrections can help ensure that your business reacts to a dynamic market environment. Update the catering business plan at a minimum annually and review the plan with key management personnel. Lenders may demand to see an updated plan. They want to have confidence that their money is being used wisely and that they will see a return on the investment they have made in your business. An updated catering business plan may be a condition of continuing support from lenders. Use the catering business plan as a tool to help your business adjust to changing markets, supply conditions, staffing, and competition. With a business plan, making adjustments to sales projections can tell you quickly what the impact will be on the bottom line. Similarly, with adjustments to the price of goods, staffing, salaries, rent, etc.
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If you want to start a Catering business or expand your current Catering business, you need a business plan.
You can download the Catering business plan template (including a full, customizable financial model) to your computer here.
The following catering business plan template gives you the key elements to include in a winning plan for your own catering company. In addition to this template, conducting market research for your local customer base will help you identify potential market trends and customer segments to better understand the viability of your catering business.
Below are links to each of the key sections of a sample business plan for a successful catering business.
I. Executive Summary – The Executive Summary provides an overview of your business opportunity and summarizes the business plan.
II. Company Overview – The company analysis includes information about your business concept, catering services and legal structure.
III. Industry Analysis – The industry analysis includes market research that supports your business and provides insights into market trends and the catering industry.
IV. Customer Analysis – The customer analysis provides an overview of your target market.
V. Competitive Analysis – The competitive analysis should identify your direct and indirect competitors and highlight your competitive advantage.
VI. Marketing Plan – The marketing plan includes your marketing strategy, pricing strategy and search engine optimization plan.
VII. Operations Plan – The Operations Plan includes information on your company’s day to day operations and processes.
VIII. Management Team – The management team section includes a profile of the business owner and business management, their experience and company responsibilities.
IX. Financial Plan – The financial plan includes financial projections, a cash flow statement, profit and loss statement and balance sheet.
Download the Catering business plan template (including a full, customizable financial model) to your computer here.
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Writing a business plan is a crucial step in starting a catering business. Not only does it provide structure and guidance for the future, but it also helps to create funding opportunities and attract potential investors. For aspiring catering business owners, having access to a sample catering business plan can be especially helpful in providing direction and gaining insight into how to draft their own catering business plan.
Download our Ultimate Catering Business Plan Template
Having a thorough business plan in place is critical for any successful catering venture. It will serve as the foundation for your operations, setting out the goals and objectives that will help guide your decisions and actions. A well-written business plan can give you clarity on realistic financial projections and help you secure financing from lenders or investors. A catering business plan example can be a great resource to draw upon when creating your own plan, making sure that all the key components are included in your document.
The catering business plan sample below will give you an idea of what one should look like. It is not as comprehensive and successful in raising capital for your catering as Growthink’s Ultimate Catering Business Plan Template , but it can help you write a catering business plan of your own.
Table of contents, executive summary, company overview, industry analysis, customer analysis, competitive analysis, marketing plan, operations plan, management team, financial plan.
At SavorFest Caterers, located in the vibrant city of Austin, TX, we are passionately committed to delivering unparalleled catering services that truly distinguish us in a competitive marketplace. Our philosophy revolves around the belief that the essence of a memorable event is not just the quality of food but also the caliber of service provided. To this end, our team is rigorously trained to execute seamless events, complemented by our meticulously prepared dishes that utilize only the finest ingredients. This dedication to excellence ensures a culinary experience that exceeds the expectations of the most discerning guests. Furthermore, our continuous innovation in offering tailored catering solutions allows us to meet the varied needs of our clients, making every event uniquely unforgettable.
Our success hinges on our unwavering commitment to quality and innovation, which has been instrumental in distinguishing SavorFest Caterers within the bustling Austin catering scene. We’ve achieved this through our dedication to sourcing the finest ingredients, our flexibility in customizing our services to meet the diverse needs of our clientele, and our relentless pursuit of excellence in both food and service. These factors, combined with our ability to adapt to any event theme or dietary requirement, position us as the go-to caterers for those seeking an incomparable dining experience.
The catering industry, while competitive, presents substantial opportunities for businesses that can distinguish themselves through exceptional service and culinary innovation. This is particularly true in markets like Austin, TX, where the demand for high-quality catering services is driven by a vibrant cultural scene and a growing economy. Success in this industry demands not just culinary excellence but also the ability to adapt to evolving consumer preferences and dietary needs. Companies that can leverage local ingredients and offer personalized experiences stand a better chance of capturing and retaining a loyal customer base.
Our target customers are diverse, ranging from individuals and families celebrating special occasions to businesses and organizations hosting corporate events. These clients are united by a common desire for high-quality, memorable catering experiences that are tailored to their specific needs. They value creativity, flexibility, and attention to detail, and they are willing to invest in premium services that meet these criteria. Catering to such a varied clientele requires a deep understanding of different dietary preferences and event formats, something we excel in at SavorFest Caterers.
Top Competitors: Gourmet Delights, EliteEats Catering, and Feast & Festivities
Gourmet Delights is known for its traditional gourmet offerings, while EliteEats Catering focuses on corporate events with a modern twist. Feast & Festivities targets weddings and large social gatherings with their extensive buffet options. Our competitive advantage lies in our personalized approach, our commitment to quality and innovation, and our versatility in catering to any event theme or dietary requirement, setting us apart as the preferred choice for a wide range of clients.
Our marketing plan is centered around showcasing our diverse range of products, services, and competitive pricing. We offer a wide selection of menu options that cater to various dietary needs and event types, from intimate gatherings to large-scale corporate events. Our pricing strategy is designed to offer value to our clients, ensuring they receive the highest quality service and culinary excellence at competitive prices. To promote our services, we leverage a multi-channel approach that includes social media marketing, targeted email campaigns, and strategic partnerships with event planners and venues. Our promotions plan is focused on building brand awareness and driving engagement through special offers, tastings, and participation in local events, which allows us to connect directly with potential customers and showcase our culinary expertise.
Our operations are the backbone of our success, encompassing menu planning, ingredient sourcing, inventory management, and more. We prioritize sourcing high-quality, fresh ingredients locally, supporting the community and ensuring the best taste. Our inventory is meticulously managed to prevent shortages and reduce waste. The order process is streamlined for customer convenience, and our food preparation adheres to strict quality control standards. Compliance with health and safety regulations is paramount, ensuring a safe environment for both staff and customers. We also focus on exceptional customer service and communication, essential for customer satisfaction and retention. Logistics for event catering are carefully coordinated, ensuring timely setup, service, and cleanup. Our marketing efforts and customer relationship management are ongoing, aimed at attracting new customers and fostering loyalty among existing ones. Financial management is handled with diligence, monitoring daily revenues and expenses to maintain healthy cash flow and inform strategic decisions.
Our management team comprises experienced professionals with a passion for catering and event management. Each member brings a unique set of skills and expertise to the table, from culinary arts to business administration and customer service. This diversity in our leadership ensures a comprehensive approach to managing all aspects of the business, from menu development and event planning to marketing and financial management. Together, we are committed to upholding the highest standards of quality and innovation, driving SavorFest Caterers towards continued success and growth.
Welcome to SavorFest Caterers, a fresh and vibrant catering service now gracing the Austin, TX scene. As a local catering business, we pride ourselves on filling a much-needed gap in the market. Until now, the area has seen a lack of high-quality local catering services, a void we’re excited to fill with our unique blend of culinary expertise and passionate service.
At SavorFest Caterers, our offerings are designed with versatility and quality in mind. Our services span the entire spectrum of catering needs, from intimate events to grand celebrations. Clients can look forward to customizable menus that cater to a wide array of dietary preferences and event themes. Beyond exceptional food, our services extend to food delivery and setup, ensuring every event is executed flawlessly. We also provide comprehensive beverage services, complemented by our team of professional staff who are committed to making every occasion memorable.
Rooted in the heart of Austin, TX, SavorFest Caterers is poised to serve the local community and its diverse clientele. Our location not only allows us to be at the center of Austin’s vibrant event scene but also enables us to source fresh ingredients from local suppliers, supporting the community we are a part of.
Our confidence in our success is not unfounded. The founding team brings with it a wealth of experience from running a successful catering business previously. This, combined with our commitment to offering superior catering services and meticulously prepared food and beverages, sets us apart from our competition. Our dedication to excellence in every aspect of our service ensures that SavorFest Caterers stands out as the premier choice for catering in Austin.
Since our inception on January 6, 2024, as a Sole Proprietorship, we’ve hit the ground running. Our accomplishments to date include the creation of a distinctive logo that captures the essence of our brand, the development of our unique company name that resonates with our mission, and securing a prime location that serves as our operating base. These achievements mark the beginning of our journey to becoming a cornerstone of the Austin catering scene.
The Catering industry in the United States is a thriving and lucrative market. According to industry reports, the current size of the market is estimated to be around $60 billion. This indicates a strong demand for catering services and presents significant opportunities for growth and profitability.
Furthermore, the Catering industry is expected to experience steady growth in the coming years. Market research suggests that the industry is projected to grow at a CAGR of approximately 4% over the next five years. This growth can be attributed to various factors including increasing consumer spending, rising disposable incomes, and a growing preference for convenience and personalized dining experiences.
These trends in the Catering industry are particularly promising for SavorFest Caterers, a new catering business operating in Austin, TX. As consumers increasingly seek out unique and memorable dining experiences, SavorFest Caterers is well-positioned to capitalize on this demand. With its commitment to delivering exceptional service, innovative menus, and attention to detail, SavorFest Caterers has the potential to carve out a significant market share in the Austin catering scene and establish itself as a go-to choice for customers seeking high-quality catering services.
Below is a description of our target customers and their core needs.
SavorFest Caterers will target local residents eager to add an extraordinary touch to their private gatherings, from intimate family reunions to larger celebratory events. These customers are looking for high-quality, memorable culinary experiences that reflect the unique flavors and spirit of Austin, TX. SavorFest Caterers will tailor its offerings to meet the diverse tastes and dietary preferences of this vibrant community, ensuring every event is a reflection of its host’s distinct style and personality.
Aside from serving local residents, SavorFest Caterers will also cater to the business sector, including corporate events, conferences, and office parties. Austin’s dynamic business environment, characterized by a mix of startups, tech companies, and established firms, presents a lucrative opportunity for SavorFest Caterers. The company will offer customizable menus and flexible service options to accommodate the specific needs and schedules of business clients, aiming to become a trusted partner for companies seeking to enhance their corporate events.
Furthermore, SavorFest Caterers will target the thriving event industry in Austin, including weddings, festivals, and public gatherings. This segment demands exceptional catering services that can handle the scale and specific requirements of such events, from outdoor weddings to large-scale public festivals. SavorFest Caterers will leverage its expertise and creativity to provide standout culinary experiences that contribute to the success and memorability of these events, establishing itself as a go-to caterer for Austin’s event planners and organizers.
SavorFest Caterers emerges as a beacon of culinary excellence, poised to meet the sophisticated needs of Austin’s residents who desire professional catering services. These discerning clients expect not just meals but culinary experiences that tantalize the taste buds and elevate their events. SavorFest Caterers can fulfill this need by offering a diverse menu that incorporates both local flavors and international cuisines, ensuring a unique dining experience for every occasion.
Moreover, SavorFest Caterers understands the importance of seamless service in event planning. Clients can count on meticulous attention to detail, from the presentation of food to the professionalism of the staff. This reliability ensures that hosts can focus on their guests, confident in the knowledge that all catering aspects are expertly managed. SavorFest Caterers thus not only satisfies the appetite but also contributes to the overall success and ambiance of the event.
In addition to exceptional food and service, SavorFest Caterers recognizes the growing demand for sustainable and health-conscious catering options. By incorporating organic, locally-sourced ingredients and offering a range of dietary accommodations, SavorFest can cater to the diverse preferences and needs of Austin’s residents. This commitment to quality and sustainability further distinguishes SavorFest Caterers as a versatile and conscientious choice for any event, large or small.
WheelsJourney Rentals’s competitors include the following companies:
Alamo Rent A Car offers a range of services including economy cars, SUVs, and luxury vehicles for both leisure and business travelers. Their price points vary depending on vehicle type, rental duration, and location but are competitive within the industry. Alamo generates significant revenue from both domestic and international travelers, thanks to its presence in major airports across the United States and in several other countries. Alamo serves a wide customer segment including individual travelers, families, and business professionals. They operate in numerous geographies including the United States, Canada, Mexico, Europe, Australia, and South America. A key strength of Alamo is their self-service kiosks that expedite the rental process for customers. However, a potential weakness is their reliance on airport locations, which may limit their reach to local renters who prefer more accessible city or neighborhood locations.
Enterprise Rent-A-Car offers a broad spectrum of vehicles including cars, trucks, and vans to cater to a variety of customer needs. Their pricing is flexible, with options for daily, weekly, and long-term rentals, often including deals and discounts for certain customer segments. Enterprise boasts substantial revenues, underpinned by a strong brand and extensive network of locations. Enterprise targets a diverse customer base from individual renters to large corporations requiring fleet services. The company has a vast geographical presence, operating not just in the United States but also in Europe, Canada, Asia, and beyond. One of Enterprise’s key strengths is its customer service, often recognized as industry-leading. However, its size and scope can sometimes lead to inconsistencies in service quality across different locations.
Rose Caterings might not have the same level of brand recognition as Alamo or Enterprise but offers competitive products and services in select markets. Their vehicle offerings include standard cars, luxury models, and specialty vehicles. Rose Caterings’ pricing strategy aims to attract budget-conscious consumers with competitive rates and transparent fees. Rose Caterings primarily serves customers in urban and suburban areas, focusing on convenience and personalized service. They operate in a limited geographical area but are looking to expand their presence. A strength of Rose Caterings is their focus on customer satisfaction and local market expertise. However, their limited geographical reach and smaller fleet size compared to larger competitors could be seen as weaknesses.
At SavorFest Caterers, we pride ourselves on offering superior catering services that stand out in the competitive Austin, TX market. Our dedication to excellence is evident in every dish we serve, setting us apart from our competitors. We understand that the key to a memorable event lies not only in the quality of food but also in the service provided. Therefore, we ensure that our team is trained to offer impeccable service, making every event a seamless experience. Our carefully prepared food and beverages reflect our commitment to quality, using only the finest ingredients to create culinary delights that satisfy even the most discerning palates.
Moreover, our competitive advantage extends beyond our exceptional food and service. We are constantly innovating, offering unique and personalized catering solutions to meet the diverse needs of our clients. Whether it’s a small family gathering or a large corporate event, we tailor our services to ensure that each occasion is unforgettable. Our flexibility and attention to detail mean that we can adapt to any theme or dietary requirement, making us the preferred choice for customers seeking a caterer that can truly cater to their specific needs. By choosing SavorFest Caterers, clients can expect not just a meal, but an extraordinary dining experience that will leave a lasting impression on their guests.
Our marketing plan, included below, details our products/services, pricing and promotions plan.
SavorFest Caterers emerges as a beacon of culinary excellence, offering a diverse range of services tailored to meet the unique needs of each event. At the heart of their offerings is Catering Services for Events, which stands as a testament to their commitment to delivering unforgettable dining experiences. Clients can expect to engage in a collaborative process, working closely with the SavorFest team to design a menu that perfectly aligns with the theme and expectations of their event. The average cost for these comprehensive catering services starts at $50 per person, ensuring a balance of quality and value.
Understanding the importance of personal touch and customization, SavorFest Caterers introduces Customizable Menus as one of its key services. This offering allows clients to tailor their event’s culinary journey, ensuring that every dish reflects their personal taste and dietary preferences. Whether it’s a wedding, corporate gathering, or intimate dinner party, the ability to customize menus adds a layer of exclusivity and personalization to every occasion. Prices for customizable menus are variable, starting at an additional $10 per person on top of the base catering service cost, depending on the complexity and ingredients required.
With an eye for convenience and efficiency, SavorFest Caterers also provides Food Delivery and Setup services. This offering is designed to ensure that every aspect of the event’s culinary needs is handled with care and professionalism, from the careful delivery of prepared dishes to the meticulous setup at the venue. Clients can expect this service to start at $200, varying with the size and location of the event, providing a hassle-free solution to event planning and execution.
Beverage Services complement the culinary offerings, providing a curated selection of drinks to match the quality and theme of the food served. From artisanal cocktails to fine wines and refreshing non-alcoholic options, SavorFest ensures that every guest finds a beverage that suits their taste. This service is priced starting at $15 per person, offering a range of options to suit various preferences and budgets.
Professional Staffing stands as a cornerstone of SavorFest Caterers’ commitment to excellence. Recognizing that the success of an event often hinges on the quality of service, SavorFest provides skilled and courteous staff for every occasion. Whether it’s chefs, servers, or bartenders, clients can expect professionalism and efficiency, ensuring that every guest’s needs are attended to. The cost for professional staffing starts at $30 per hour per staff member, contributing to a seamless and memorable event experience.
Through these diverse offerings, SavorFest Caterers positions itself as a premier choice for those seeking exceptional catering services in Austin, TX. With a focus on quality, customization, and client satisfaction, they are dedicated to making every event a remarkable culinary journey.
WheelsJourney Rentals employs a variety of promotional methods and tactics to attract customers in Dallas, TX. Online marketing stands at the forefront of these efforts, leveraging the power of social media platforms, search engine optimization (SEO), and targeted email campaigns. By engaging potential customers where they spend a significant portion of their time, WheelsJourney Rentals ensures its visibility and relevance in a competitive market.
In addition to online marketing, WheelsJourney Rentals also utilizes traditional advertising methods such as billboards and local radio ads. These mediums offer broad exposure, helping to build brand recognition and trust within the community. Furthermore, partnerships with local businesses and tourism agencies will play a crucial role in cross-promotion, reaching an audience that is already interested in travel and vehicle rental services.
Customer referral programs are another key tactic in WheelsJourney Rentals’ promotional strategy. By incentivizing current customers to refer friends and family, the company taps into the power of word-of-mouth marketing. This not only increases the customer base but also strengthens customer loyalty, as people tend to trust recommendations from people they know.
Loyalty programs will also be implemented to encourage repeat business. These programs reward customers for their continued patronage, offering discounts, special offers, and exclusive benefits. This approach not only fosters a loyal customer base but also differentiates WheelsJourney Rentals from its competitors.
Lastly, attending and sponsoring local events and exhibitions will raise the profile of WheelsJourney Rentals. Participation in such events demonstrates the company’s commitment to the community and allows for direct engagement with potential customers. It provides an excellent opportunity to showcase the range of services and the quality of vehicles offered, creating a lasting impression on event attendees.
By employing these promotional methods and tactics, WheelsJourney Rentals expects to attract a wide range of customers in Dallas, TX. The combination of online and traditional marketing, alongside customer engagement programs, ensures that WheelsJourney Rentals remains competitive and becomes a preferred choice for vehicle rental services.
Our Operations Plan details:
To ensure the success of SavorFest Caterers, there are several key day-to-day operational processes that we will perform.
SavorFest Caterers expects to complete the following milestones in the coming months in order to ensure its success:
SavorFest Caterers management team, which includes the following members, has the experience and expertise to successfully execute on our business plan:
Noah Wilson brings a wealth of experience to SavorFest Caterers, marked by a proven track record of success in the catering industry. His previous endeavor as the head of a catering business laid the foundation for his deep understanding of the complexities of the catering world, from menu selection and event planning to logistics and customer service. Noah’s leadership is defined by his ability to foresee industry trends, adapt to changing market demands, and inspire his team to strive for excellence. His strategic vision and hands-on experience are crucial assets for SavorFest Caterers, positioning the company for sustained growth and success in a competitive market.
To achieve our growth objectives, we are seeking to raise funds that will be strategically invested in expanding our service offerings, enhancing our marketing efforts, and improving our operational infrastructure. This financial injection will enable us to fulfill our growth potential, capture a larger market share, and ultimately establish SavorFest Caterers as a leader in the catering industry. Our detailed financial plan outlines the required investment and the projected returns, demonstrating our commitment to creating value for our stakeholders while delivering exceptional catering experiences to our clients.
Balance sheet.
[insert balance sheet]
[insert income statement]
[insert cash flow statement]
Download our Catering Business Plan PDF here. This is a free catering business plan example to help you get started on your own catering plan.
Don’t you wish there was a faster, easier way to finish your catering business plan?
With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less!
Elizabeth started her career at a small local restaurant close to her home. She had big dreams of owning a large catering business.
Three years later, she learned the ropes, worked hard enough to save money and was ready to launch Chefdini Catering.
Hers is a tale of overcoming all odds.
Within five years, Elizabeth expanded her operations. She employed some staff and was raking in around $5 million in revenue annually.
In an era where 20% of new businesses fail within the first two years, according to the US Bureau of Labor Statistics, how did Elizabeth pull this off?
Well, it may have taken five years, but one thing that helped her navigate her journey smoothly was:
…a Catering Business Plan.
And she’s not alone. About 70% of new businesses that manage to survive for five years follow a strategic business plan in the US.
So while several factors contribute to businesses failing within the first couple of years, there’s no doubt lack of a business plan is a major reason.
And this isn’t far-fetched.
Imagine building a house without floor plans. How long do you think it’s going to stand? Not long enough.
That’s precisely what happens when you operate your drop-off catering business without a solid plan. And this has nothing to do with how passionate you are.
Think of a business plan as a roadmap or a guide that outlines your goals and details how you intend to achieve them. It’s central to how you start and grow your business. Also, it turns your visions into a concrete action plan for success.
Having a plan is essential for drop-off caterers hoping to thrive in the current, highly competitive catering industry.
As you read this, over 12,000 establishments are vying for the same customer as you. So running a catering business without a solid plan will only give an opening for your competitors to be many steps ahead of you.
Take Abbey Duke, CEO of SugarSnap Catering, for instance.
From the get-go, part of her strategy was to always stay competitive by serving her customers how they prefer.
So when the pandemic hit and online ordering became the norm, she quickly leaned on HoneyCart’s order automation software to give customers the convenience they desired. And at the same time, to ensure she wasn’t losing sales to her competitors.
In her words:
“But I knew if we didn’t offer online ordering, we’d be losing sales to companies like Panera that make it easy to order. Busy customers expect convenience and will often choose it over quality.”
Making this kind of game-changing decision at a moment’s notice is one of the perks of having a solid business plan.
Now, you may be wondering:
“How do I create an effective catering business plan?” One that gives you an edge over your competitors and sets you on the path to success like Elizabeth.
Well, I got you covered.
We’ve developed a free catering business plan template you can customize to your specific needs. I know, creating a business plan, even with a free template, is still a daunting task for drop-off caterers.
Don’t worry.
As we progress through this article, I’ll guide you on how to create one step-by-step.
Download the free template to follow along with me:
Before we dive in, let’s take a look at some reasons why you must have a catering business plan.
1. it shows you mean business.
Today, technology has made it easy for anyone to start a catering business. Even amateurs can create an Instagram account, post some mouthwatering dishes and wait for orders to flood in.
But is this strategy going to cut it in the long run?
Absolutely not!
If you intend to scale your business, then it starts with a foolproof business plan. One that gives you insight into where your business is headed in the next five to ten years.
Having a business plan also emphasizes the commitment of you and everyone involved. It guides you in making smart decisions that will help scale your operations.
However, a catering business plan isn’t set in stone. This means you can change the plan as you progress. But the overall goals remain the same.
Take Elizabeth, the fictional character I used at the start of this article.
One reason she could expand her business within five years is that she secured investment and raised funds.
And what’s one crucial thing potential investors will ask before giving you funds?
Yep, that’s right – a well-detailed business plan.
Imagine she didn’t have one. She wouldn’t have been able to raise the funds needed to expand her operations.
Here’s why:
Investors like to see your plans for scaling the business, its financial projections, industry analysis, level of risk involved, and so on.
Not having a business plan shows you are not intentional about scaling. And this significantly reduces the chances of securing funds needed to expand.
To drive home my point, Tim Berry, founder of Palo Alto Software , did a survey asking his customers questions about their businesses, goals, and business planning.
The result?
From the above report, you’ll see that those who had business plans were almost twice more likely to grow their businesses by securing capital than those who didn’t write a plan.
This emphasizes the importance of having a business plan.
A business plan isn’t complete without researching and analyzing your competitors.
Because it helps you understand what they are doing, their offerings, pricing, and how you can improve on them.
Michele Levy , an independent brand strategy consultant agrees:
“Keeping track of who your competitors are, what people are saying about them, and what they are saying themselves can help you differentiate your business and stay ahead of trends that could impact your business.”
Furthermore, it’s a way to:
As a result, you can create a strategic plan that will improve your business.
Another benefit of creating a catering business plan is discovering new opportunities to boost your business in ways you never imagined.
Through research and competitive analysis, you may realize there are one or more niches that are underserved in your area.
So, instead of doing what every other drop-off caterer does, you can carve out a niche for yourself by doing something different.
For example, during the global pandemic that crippled catering activities, Chef Jolie of Low Country Quisine needed another source of revenue.
So she went back to the drawing board.
The result? She launched a Gourmet Takeaway Service.
By making it a habit to spot opportunities in market trends, she realized the need for an online ordering platform.
According to her:
“We needed to find new ways to generate revenue during the pandemic. We launched our Gourmet Takeaway Service and needed an online platform for customers to order.”
And if she didn’t do this, here’s what would have happened:
“We would not have been able to reach as many customers without the ability to accept orders and payments online.”
One of the goals of running a business is to hit milestones and achieve major goals.
And the only way to measure your success is to compare results with the actual plan. This way, you can see whether you’ve achieved your operational and financial goals within a specific timeframe.
For example, you set a goal of getting at least 150 customers within six months, expanding to at least four locations within 12 months, or like Elizabeth, hit $5 million annually.
By documenting these goals, not only does it make you committed to achieving them, but it also ensures you have something to measure your success against.
And it will give you a sense of fulfillment when you finally accomplish your goals. Without a doubt, a well-documented business plan fast-tracks achieving your goals.
Now that you know the importance of a catering business plan, let’s look at the essential elements of an ideal business plan.
Creating a catering business plan may sound like a daunting task. But in reality, it isn’t. It’s not much different from the usual business plan.
However, it focuses on elements specific to the food and catering industry.
So what are these elements?
Let’s take a brief look at what each of these elements should contain.
Want to create yours as you go through this guide?
Don’t forget to download (and make a copy) of the template here .
How do you ensure anyone reading your business plan doesn’t disclose the content to other people?
That’s where a confidentiality agreement comes in.
It’s an agreement between you and anyone reading your business plan not to reveal the content to any other person without your permission.
And to be on the safe side, you should have a proper legal counsel review any agreement you use in your business.
So if they do reveal the content, you will have the right protections in place.
Here’s an example of a confidentiality agreement:
The undersigned reader of [Company’s Name] Business Plan acknowledges that the information provided is completely confidential. Therefore, the reader agrees not to disclose anything found in the business plan without the express written consent of [Business Owner’s Name].
It is also acknowledged by the reader that the information to be furnished in this business plan is in all aspects confidential in nature, other than information that is in the public domain through other means, and that any disclosure or use of the same by the reader may cause serious harm and or damage to [Company Name].
Upon request, this business plan document will be immediately returned to [Business Owner’s Name].
This is a business plan. It does not imply an offer of any securities.
Applicable Law
This contract shall be governed by the laws of the County of ________ in the State of _______ and any applicable Federal law.
________________________________
Printed Name
They say you only get one chance at a first impression. An executive summary is an opportunity to show anyone reading it what your catering business is about.
Chances are, if it lacks specific information or doesn’t capture the reader’s attention, they may not read further.
The executive summary should include a brief introduction to your catering business, your services, and who you cater to.
Here’s an example of an executive summary of Elizabeth’s fictional catering business.
Chefdini is a small catering business located in Georgia. It was founded by Elizabeth White six years ago. We specialize in Asian cuisine but also cater to Mexican and Italian dishes. Chefdini operates off-premise and on-premise catering with a focus on events, retreats, and social gatherings.
At a glance, this brief introduction shows what Chefdini is about, the kind of cuisines they specialize in, and who their audience is. Anyone who reads it can immediately get an idea of what to expect.
The business focus details how you’ll run your business, so anyone reading it will have a clear understanding of plans, goals, and priorities.
Information to include in your business focus are:
Dan Zarrella , an analytical marketing leader and author of four books on marketing once said:
“Marketing without data is like driving with your eyes closed.”
And how do you get this data? Through Market Research.
Market research is the process of gathering information to understand your target market better. As such, it’s a fundamental part of a business plan.
Under market research, you’ll find:
Your clients are the set of people who need your catering services and are most likely to pay for them.
To have any chance of making sales, you need to understand your ideal customers, their pain points, challenges, and how you can take them from point A to their desired point B.
So, any information related to the ideal clients like age, location, gender, income, interests, pain points, or goals would add value here.
The goal is to ensure you are not targeting the wrong audience, which would result in wasted efforts.
But when you narrow down your target audience, you will be better placed to tailor your offerings to fulfill their needs.
As I mentioned earlier, competition in the catering industry gets tougher each day, with more caterers and restaurants springing up. But this doesn’t mean there isn’t enough space in the sky for birds to fly.
However, it’s important to know how to stand out.
And one way to do this is to research your competitors to learn more about their strengths and weaknesses. This way, you’ll discover things that will give you an edge over them.
In addition, well-detailed research about the competition will help you make a realistic assessment of your chances of success in the industry.
Some of the things to add under competitor profiling are:
The word SWOT is an acronym for Strengths, Weaknesses, Opportunities, and Threats.
A SWOT analysis is used to evaluate your business’s chances of success and develop a strategic plan. Here you analyze internal and external factors that may help scale your business or throw a wrench in your growth.
A comprehensive catering marketing strategy will be crucial to your success. After all, people will only patronize you if they know your business exists.
How do you plan to market your business? Where are you going to get catering clients from? Which channels do you plan to reach them? What’s your marketing budget?
All these are questions that need answers. So you must include your plans for marketing in your catering business plan. A solid marketing plan should contain:
Don’t forget we have sections in our free template to fill all essential marketing points listed above. Download it here if you haven’t.
Without a doubt, you need money to finance your catering business. But if you don’t have adequate financing, your business will struggle.
Because you’ll need to pay for space, pay your staff, pay for equipment and so on. All these require a sufficient amount of funds.
And if you plan to take online orders, investing in online ordering software is a no-brainer. This will help you:
So if you want to finance your catering business yourself, a financial plan helps you understand how much funds you need, where to cut expenses and what you need to do to become financially sustainable.
And if you plan to source funds through investors, it will provide them with enough information to determine whether they’ll get their return on investment.
Some of the things you need to include in your financial plan are:
Want to know what to fill in these sections? We’ve got you covered. Simply download and make a copy of our free template to fill all essential financial plans listed above.
This is where you add additional information that is referenced in the business plan.
It can include things like:
As you’ve seen, creating a business plan is not as difficult as it sounds.
It doesn’t matter whether you’ve started your business or you are just about to start. A catering business plan is crucial to the success of your business.
It helps you understand your business, your customers, and your competitors. Also, it gives you more insight into the catering industry, market trends, threats, and opportunities.
Another advantage of a business plan is the opportunity to set a budget aside for investing in important things that will contribute to your company’s growth.
For example, investing in commission-free catering software like HoneyCart helps you manage your catering operations without hiring more staff.
This levels the playing field for small business caterers, helps you save cost, and generate more revenue. Just as Abbey Duke, founder of SugarSnap Catering, realized when she switched to HoneyCart.
It automates mundane tasks to allow us to use our time as efficiently as possible. HoneyCart truly enables small caterers to compete with larger companies by having a really professional and easy-to-use online ordering system.
Want to see how it works?
Start your 14-day free trial right away.
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Writing a catering business plan is the first step to starting a catering business . A business plan makes it easy to map out your catering business ideas and see these ideas become a reality.
Key Takeaway - The catering business is about proper and adequate preparation. From planning a menu to preparing meals for social events, there are several things to prepare for and take into account.
With a food catering business plan, you can build the perfect manual and guide to run your catering business successfully. It becomes easier to reach out to investors for funding as well.
A catering business plan is easy to write and contains the same essential elements as other restaurant business plan formats. However, when writing a business plan for catering business, add catering industry-specific sections.
Let’s review how to write a catering business plan for your catering business.
Writing a catering business plan is more than just filling out a downloadable catering business plan template. Your passion for your catering business idea must be evident in each business plan section.
From the executive summary and company overview to your operational and marketing plan, your business plan must translate the ideology of your business. Do not just copy and paste something you see online.
When writing a business plan for catering business, include these sections:
Company overview, team and management, market and opportunity, business operational plan, products and services, marketing plan, financial projections.
Your executive summary, usually one page, is the opening section of your business plan. It should make an excellent first impression of your business. The executive summary is a summary of your business plan.
When writing your executive summary, give a quick rundown of your company's income, costs, break-even point predictions, and other financial information. The executive summary comes last after you’ve written different sections of your catering business plan.
Your catering business overview should include details of your company. The company overview is a more practical version of the executive summary. It should describe the client experience, ownership and management components, and business operations.
For instance, you can explain your order management and order fulfillment process. This is an excellent space to mention your plan to buy a catering food truck. You can also note the job opportunities your catering business will create and future expansion plans.
This section is a great place to explain your eCommerce team structure and organogram. Start the section by explaining your role within the company. Then, you can drop a few highlights of team workflows and day-to-day tasks.
If your catering business scale-up plan will require more hands, mention their roles in this section. You can explain how you find to recruit your team members and your projected salary range.
Researching your market is essential. Knowing your niche market , who and where your customers are, and your potential competitors is crucial to the success of your catering business.
It’ll be great to explain consumer behavior. For example, how many events happen in the area every week? How many venues can you partner with?
Market research will help you know the types of catering businesses that will succeed in your chosen market. It will also help you strategize how to stay ahead of the competition. When writing this section, use graphs and charts to explain your findings.
Explain your business process flow in this section. From how you will attract clients to how you will serve meals at an event, your operational plan is a great place to explain your workflow in detail.
The business operations portion of your catering business plan contains details regarding customer experience management. You can include your plan for sales and inventory management , restaurant accounting , warehouse management system , and food supply chain management for the items on your menu.
This section should explain the tiny details of your business activities. As a tip, highlight the different management processes of your catering business.
If you plan to specialize in a menu item for specific events, then this is the place to discuss it. For instance, your catering business may focus on cocktail parties or weddings. In this case, your menu item and prices will differ from a catering business that serves office lunches.
You may also serve a specific type of cuisine, such as Mexican or Indian dishes. Ensure you include a sample of your menu and pictures of your meals. Include details about your pricing as well.
Unlike other businesses in the food and beverage industry , customers only require catering services for events and occasions. Therefore, you must be positioned so potential customers will call you first when they have events.
Referrals are a big thing in the catering industry. However, you can leverage the opportunities that the internet has to offer. From owning a catering website to building your online presence on social media, there are various marketing strategies you can adopt.
You can list your catering business on marketplace online directories for event planners. Whatever your marketing strategy is, explain it clearly in this section.
Opening a catering business is not as expensive as starting a brick and mortar restaurant business . However, it is essential to discuss your financial projections and eCommerce accounting strategies if you plan to get a loan from the best banks .
You can give a five-year financial projection for your catering business. In financial projections, you must account for both fixed and variable costs.
Fixed costs include the following:
Variable costs include the following:
There are various ways to write a catering business plan. Presenting your business plan will determine whether the reader will be captivated upon opening the document.
Here’s a format you can use:
Research is crucial to succeeding in any food service business. A simple survey will clear up. Will you operate at home? What events will you cater? Will you specialize in a particular type of food?
Conducting research will also help you know the type of regulations you must comply with and the catering business license you need to operate your business. Ask questions from residents and check online for more information.
Yes, there are a lot of catering business ideas. However, you must choose your specialty to be able to create a unique selling proposition for your brand.
Do you want to specialize in weddings? Will you serve corporate events only? Deciding on this will determine your business operations, branding, and restaurant management system .
Marketing is something you should not get tired of doing. There are a lot of catering businesses in the U.S., and some restaurants are diversifying into offering catering services now.
While the market opportunity is enormous, the competition in the industry is fierce. Therefore, having solid marketing and advertising plan is crucial to the growth of your business.
Creating your menu is essential. First, decide your menu items and prices. Be realistic when setting your price. Consider the cost of obtaining the item at a wholesale vs retail price and the overall overhead costs to run your business.
Restaurant technologies can streamline your business operations. For instance, payment processing software can help you accept payments online and make it easier for customers to pay via credit card on your website.
POS systems and catering management software will help you automate your catering operations. Invoice management software is another tool that will help your business accounting workflow.
Wholesale distribution management software and warehouse inventory management software will optimize your inventory management processes. In addition, you can manage supplier relationships with vendor management software.
Starting a catering business requires adequate preparation. A catering business plan will help you plan and serve as a manual to run your business successfully. Let’s answer some frequently asked questions about business plan for catering businesses.
A caterer needs the following skills:
Yes . Full-service catering businesses are responsible for setting up tables.
A caterer should ask a client the following questions:
Having a catering business plan will make it easy to grow catering business . Applying for a business loan or getting investors interested in your business is also easier. Keep your sections clear and straight to the point when preparing your catering business plan.
You may need to prepare an elevator pitch when presenting to investors. Pitch your business confidently, project your passion for the industry, and keep it simple.
Need a business plan? Call now:
Talk to our experts:
Published Nov.11, 2016
Updated Apr.22, 2024
By: Brandi Marcene
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Table of Content
If you are planning to start a catering company, you need to have a professional catering business plan. OGS Capital can help you with that; we have a team of professional business personnel and writers who work with us on a daily basis to ensure that clients get customized plans for their business. We strive to make sure that we deliver the final copy of the business plans for catering companies to the customer on time, and this has so far helped us to get referrals and returning customers.
The quality of your catering company business plan will determine whether you will get capital from investors and financial institutions. Hence, it is important to make sure that every detail in the plan is factual and verifiable before presenting it to the investors or banks.
Here are four tips for writing a good business plan for your catering company.
Adhering to these four tips will help you to come up with business plans for catering companies that you will not be afraid to present and defend when pitching the business idea to the financial institution. Let us proceed and discuss the primary benefits of having an expertly written small catering business plan.
Every decision that you make will have a positive or negative impact on your catering business. It is, therefore, important to make sure that you consider all the plausible direct and indirect effects that a resolution may have on the enterprise before implementing it to avert regrets.
A good catering company business plan will act as a blueprint that will guide you through the decision-making process. Our team will work hard to make sure that each recommendation made is right for your business. Without a catering company business plan , rest assured that you would be prone to making hasty decisions that could plunge your business in deep financial crisis.
Unknown to most people is that a catering company business plan does not aim to discuss the business idea only. It goes an extra mile to provide precise details of how the funds will be spent at every stage of the business growth. For instance, it describes the total amount of money that will be used to acquisition equipment. Hence, it will be instrumental in helping you manage your funds correctly. Note that it only takes one financial mistake to compromise the financial stability of the business.
Transparency and proper management are the two primary virtues that set professional catering companies from their counterparts. Poor or lack of transparency results in losses and unnecessary disagreements. All this information will be included in the plan to not only increase your chances of getting funding but also to help you make informed managerial decisions.
The marketing teams need to have sales goals that they want to achieve after a given duration. Without these goals, they will be operating in a void, and you will also not be able to monitor their performance.
Our marketing professionals will not only help you to come up with a marketing strategy but also provide ideas on how you should set sales targets and objectives.
If you are looking for professional business plans for catering companies that will enable you to enjoy these four benefits, get in touch with us by filling this form. One of our customer care business consultants will get in touch with you to discuss our services in details.
Catering is a business in which you provide food to remote locations to serve people at parties, ceremonies, events, filming sites, and hospitals, etc. The service can sometimes also include the provision of furniture, tables, chairs, utensils, and crockery.
If you are a person who wants to start a business that holds minimum risks, takes a small team and a little investment, then catering is the right choice for you. Besides, another good thing about this business is that it starts yielding profits as soon as it is launched.
What you need to do is just ensure that you manage and market your business plans for catering companies properly. For that purpose, the first step to take is making a business plan for catering. If you need any help regarding how to start a catering business plan, you can have it from here. Here we are providing a business plan for a catering startup, Marlon Caterers.
2.1 the business.
Marlon Caterers will be a registered and licensed catering business in Atlanta. The business aims to help people celebrate their memorable events with an unforgettable dinner. Moreover, the business will also take care of the needs of patients in hospitals by offering them healthy and nutritious food according to their doctors’ advice.
The business will provide several types of catering such as buffet catering, sit-down catering, hospital catering, corporate catering, and more.
Management is a very important factor in the catering business. It’s only through efficient management that you can ensure
To maintain a good reputation among your customers, you must know all the difficulties and risks you can encounter. The risks may include budget disruptions due to sudden cancellation of orders, or any small/ large mistake during the business operations.
Before starting a catering business, you should study many catering business startup plans and then prepare a set up catering business plan for your business.
Our target customers belong to various niches. They will include the residential community, business organizations, film studios, government institutions, and hospitals.
In this how to start a catering company sample business plans for catering companies we are enlisting the business targets set by Marlon Caterers.
3.1 company owner.
Marlon Redford will be the owner of Marlon Caterers. Marlon has acquired a degree in Business Administration from McDonough School of Business. Marlon has been serving on a managerial post in New York’s top luxury wedding planner company, Colin Cowie for four years. But a few months back, he decided to quit the job and start his own business.
Marlon always wanted to have a career in which he could utilize his creative ideas to serve his community. He loved food and had an interest in cooking as well. So he decided to make a small team and start a business plans for catering companies .
The first step before starting a catering business is creating a description of catering business plan. Your catering company business plan should cover all aspects such as startup expenses, market analysis, sales strategy, personnel plan, and an extensive financial plan for your business.
In this catering company business plan example, we have listed the business strategy created by Marlon Caterers. Marlon devised his start a catering company business plan himself as he had adequate knowledge to do so. If you don’t know how to write a business plans for catering companies , you should either take help from this sample business plan for catering service. Or you should hire a professional person.
Marlon will rent a facility in Atlanta to set up his office there and keep the inventory. He will purchase luxurious crockery, flatware, tableware, chairs, tables, and sofas to host high-end events. To serve the other categories of target customers, inventory that comes in reasonable rates will also be acquired.
Besides, Marlon will hire the general staff, chefs, waiters, and some supervisors to help him run the business.
The start-up requirements, start-up expenses, total assets, funding, liabilities, planned investment, and other parameters for the successful launch of the business are given below.
Legal | $251,000 |
Consultants | $0 |
Insurance | $30,000 |
Rent | $28,000 |
Research and Development | $25,000 |
Expensed Equipment | $57,000 |
Signs | $5,400 |
Start-up Assets | $317,500 |
Cash Required | $348,000 |
Start-up Inventory | $55,000 |
Other Current Assets | $211,000 |
Long-term Assets | $227,000 |
Start-up Expenses to Fund | $396,400 |
Start-up Assets to Fund | $1,158,500 |
Assets | |
Non-cash Assets from Start-up | $1,531,000 |
Cash Requirements from Start-up | $364,000 |
Additional Cash Raised | $54,000 |
Cash Balance on Starting Date | $32,000 |
Liabilities and Capital | |
Liabilities | $28,000 |
Current Borrowing | $0 |
Long-term Liabilities | $0 |
Accounts Payable (Outstanding Bills) | $46,000 |
Other Current Liabilities (interest-free) | $0 |
Capital | |
Planned Investment | $1,554,900 |
Investor 1 | $0 |
Investor 2 | $0 |
Other | $0 |
Additional Investment Requirement | $0 |
Loss at Start-up (Start-up Expenses) | $352,100 |
Before you start a business plans for catering companies , you must identify the services you can provide under the catering domain. Including your services in your business plan about catering, can help you in acquiring the right licenses, required inventory, and relevant staff.
In this template of a catering business plan we are enlisting the services provided by Marlon Caterers.
We’ll offer on-premise and off-premise catering in the following categories.
In this catering, our waiters will lay out the food on individual tables. So, the guests will have to eat whatever is laid out on the plates for them.
In this type of serving we will serve the dishes and food in one place. The guests will have to prepare their plates themselves according to their needs and wants.
Our wedding or party dinner will be preceded by a cocktail hour. Our cocktail servings will include Manhattan cocktail, Daiquiri, Margarita, Bloody Mary, Mojito, and Hurricane.
We will supply food, snacks, and drinks to film studios, production sets, and shooting sites located near us. As the film crew works on a particular site on a weekly or monthly basis, so we’ll offer them various weekly and monthly packages.
We’ll offer fresh, healthy, and nutritious foods to hospitals for patients. Our nutrient-rich meals will help them recover fast.
If you are starting a business plan for catering companies , you should focus on doing accurate marketing analysis. Through market research, you can identify local trends and expectations. Besides, you can also select the most suitable location to launch your startup.
Marketing analysis should be completed before you create a business plans for catering companies. Because it will help you in recognizing your customers and setting your prices accordingly while also making sure that you are not running at a loss.
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The demand for the catering business has been high in the last few years. Due to a boost in average household income, more people had started utilizing private catering services to hold events. However, there is a slight problem these days. Due to the coronavirus pandemic mass gatherings aren’t allowed. So, your business might suffer a loss in the initial phases if you only provide catering for wedding ceremonies and parties. Marlon found the solution to this problem as he decided to offer hospital and film catering too.
Overall, business is surely profitable. According to First Research, catering industries in the U.S. make up above $11 billion in revenue on annual basis. More than 12000 catering industries are running in the U.S. Moreover, Statista also reports that the market size of this business has reached $12 billion in 2020.
Before you think how to write a business plan for a catering business, you should consider who will be your customers. Knowing your customers will enable you to devise customer-oriented pricing and sales strategy.
In this sample of business plans for catering companies , we have listed the market segmentation done by Marlon Caterers.
The detailed marketing segmentation of our target audience is as follows:
5.1.1 residential community.
The biggest consumer of our services will be the residents of Atlanta. They are expected to avail of our catering services whenever they host birthday or anniversary parties, gatherings, wedding ceremonies, etc.
The second category includes business organizations that will need our catering for their business meetups, events, and parties. They are also expected to contact us for arranging just a cocktail party as that contains light refreshments and drinks to boost the energy level of workers.
Moreover, film studios that happen to shoot in Atlanta will also be needing our services. This group usually spent weeks and months on a particular site and thus need catering service continuously for days. So to compel them to hire us, we’ll offer them various weekly and monthly packages.
The last category of our target customers include hospitals based in Atlanta. They are expected to contact us for making nutritious and healthy plated foods for patients.
Potential Customers | Growth | ||||||
Residential Community | 34% | 34,000 | 35,000 | 38,000 | 40,000 | 43,000 | 10.00% |
Corporates & Film Producers | 39% | 37,000 | 38,000 | 39,000 | 40,000 | 41,000 | 10.00% |
Hospitals | 27% | 26,000 | 27,000 | 28,000 | 30,000 | 31,000 | 11.00% |
10% |
Our business plans for catering companies targets to be achieved within a specified time are listed below
Our prices are almost within the same range as that of our competitors. However, we’ll be offering several discounts on our initial stage to attract as many customers as possible.
Sales strategy is also an important component of a catering business plan proposal. Through this, you can reach your qualified customers and make them comprehend that you are better than all your competitors. To give you an idea of what to include in sales strategy, we are providing the sales strategy of Marlon Caterers in this example of marketing plan for a catering business.
Our biggest competitive advantage lies in our customer service. We are highly customer-oriented and are always willing to go the extra mile to satisfy our customers. Secondly, we have developed a user-friendly mobile app that will allow our customers to
Third, we provide on-premise catering in which we prepare the food on site. This will be a competitive edge for us as just two to three competitors are offering it.
Unit Sales | |||
Sit-down Catering/ Buffet Catering | 42,000 | 44,520 | 47,191 |
Cocktail Reception | 29,000 | 30,740 | 32,584 |
Snacks For Film Production Sites | 28,000 | 29,680 | 31,461 |
Hospital Catering | 30,000 | 31,800 | 33,708 |
Unit Prices | Year 1 | Year 2 | Year 3 |
Sit-down Catering/ Buffet Catering | $56.00 | $64.96 | $75.35 |
Cocktail Reception | $52.00 | $60.32 | $69.97 |
Snacks For Film Production Sites | $42.00 | $48.72 | $56.52 |
Hospital Catering | $39.00 | $45.24 | $52.48 |
Sales | |||
Direct Unit Costs | Year 1 | Year 2 | Year 3 |
Sit-down Catering/ Buffet Catering | $54.00 | $60.00 | $71.00 |
Cocktail Reception | $47.00 | $57.00 | $65.00 |
Snacks For Film Production Sites | $38.00 | $45.00 | $51.00 |
Hospital Catering | $36.00 | $41.00 | $47.00 |
Direct Cost of Sales | |||
While writing business plans for catering companies you should also create a list of your required employees along with their job responsibilities.
Marlon will manage the business himself. However, he will hire the following people
Quality Manager | $13,000 | $14,300 | $15,730 |
Inventory Manager | $12,000 | $13,200 | $14,520 |
Accountant | $10,000 | $11,000 | $12,100 |
Sales Executives | $18,000 | $19,800 | $21,780 |
Catering Chefs | $48,000 | $52,800 | $58,080 |
Waiters | $24,000 | $26,400 | $29,040 |
General Assistants | $15,000 | $16,500 | $18,150 |
Drivers | $13,000 | $14,300 | $15,730 |
Front Desk Officer | $7,000 | $7,700 | $8,470 |
Web Developer | $8,000 | $8,800 | $9,680 |
As you make a catering business plan, you should also start analyzing your finances. Crafting a financial plan is an absolute need for a business as it maps the ways to minimize or even avoid loss. A good financial plan comprises a strategy to cover startup expenses with earned profits. Moreover, it also proposes a systematic approach to managing employees’ salaries, cost of business operations, and costs to cater for unexpected events.
To give you an idea of how a financial plan should look like, we are giving here the financial plan of Marlon Caterers.
Plan Month | 1 | 2 | 3 |
Current Interest Rate | 8.13% | 8.18% | 8.25% |
Long-term Interest Rate | 8.30% | 8.39% | 8.46% |
Tax Rate | 23.05% | 24.67% | 25.90% |
Other | 0 | 0 | 0 |
Monthly Units Break-even | 5360 |
Monthly Revenue Break-even | $134,800 |
Assumptions: | |
Average Per-Unit Revenue | $239.00 |
Average Per-Unit Variable Cost | $0.64 |
Estimated Monthly Fixed Cost | $162,300 |
Other | $0 | $0 | $0 |
TOTAL COST OF SALES | |||
Expenses | |||
Payroll | $168,000 | $184,800 | $203,280 |
Sales and Marketing and Other Expenses | $130,000 | $132,000 | $135,000 |
Depreciation | $2,200 | $2,280 | $2,350 |
Leased Equipment | $0 | $0 | $0 |
Utilities | $3,200 | $3,300 | $3,400 |
Insurance | $1,700 | $1,800 | $1,900 |
Rent | $3,300 | $3,400 | $3,510 |
Payroll Taxes | $37,000 | $38,000 | $40,000 |
Other | $0 | $0 | $0 |
Profit Before Interest and Taxes | $85,600 | $202,538 | $336,174 |
EBITDA | $85,600 | $202,538 | $336,174 |
Interest Expense | $0 | $0 | $0 |
Taxes Incurred | $17,120 | $40,508 | $67,235 |
Net Profit | $68,480 | $162,030 | $268,939 |
Net Profit/Sales | 1.10% | 2.12% | 2.87% |
Cash Received | |||
Cash from Operations | |||
Cash Sales | $56,000 | $60,480 | $65,318 |
Cash from Receivables | $17,000 | $18,360 | $19,829 |
SUBTOTAL CASH FROM OPERATIONS | |||
Additional Cash Received | |||
Sales Tax, VAT, HST/GST Received | $0 | $0 | $0 |
New Current Borrowing | $0 | $0 | $0 |
New Other Liabilities (interest-free) | $0 | $0 | $0 |
New Long-term Liabilities | $0 | $0 | $0 |
Sales of Other Current Assets | $0 | $0 | $0 |
Sales of Long-term Assets | $0 | $0 | $0 |
New Investment Received | $0 | $0 | $0 |
SUBTOTAL CASH RECEIVED | |||
Expenditures | Year 1 | Year 2 | Year 3 |
Expenditures from Operations | |||
Cash Spending | $35,000 | $37,000 | $39,000 |
Bill Payments | $19,000 | $19,600 | $20,000 |
SUBTOTAL SPENT ON OPERATIONS | |||
Additional Cash Spent | |||
Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 |
Principal Repayment of Current Borrowing | $0 | $0 | $0 |
Other Liabilities Principal Repayment | $0 | $0 | $0 |
Long-term Liabilities Principal Repayment | $0 | $0 | $0 |
Purchase Other Current Assets | $0 | $0 | $0 |
Purchase Long-term Assets | $0 | $0 | $0 |
Dividends | $0 | $0 | $0 |
SUBTOTAL CASH SPENT | |||
Net Cash Flow | $14,000 | $15,000 | $16,000 |
Cash Balance | $24,000 | $25,400 | $27,800 |
Assets | |||
Current Assets | |||
Cash | $279,000 | $312,480 | $343,728 |
Accounts Receivable | $25,000 | $28,000 | $31,472 |
Inventory | $5,300 | $5,936 | $6,678 |
Other Current Assets | $1,000 | $1,000 | $1,000 |
TOTAL CURRENT ASSETS | |||
Long-term Assets | |||
Long-term Assets | $10,000 | $10,000 | $10,000 |
Accumulated Depreciation | $18,700 | $20,944 | $23,562 |
TOTAL LONG-TERM ASSETS | |||
TOTAL ASSETS | |||
Liabilities and Capital | Year 4 | Year 5 | Year 6 |
Current Liabilities | |||
Accounts Payable | $18,000 | $20,160 | $22,660 |
Current Borrowing | $0 | $0 | $0 |
Other Current Liabilities | $0 | $0 | $0 |
SUBTOTAL CURRENT LIABILITIES | |||
Long-term Liabilities | $0 | $0 | $0 |
TOTAL LIABILITIES | |||
Paid-in Capital | $30,000 | $30,000 | $30,000 |
Retained Earnings | $56,300 | $61,367 | $67,504 |
Earnings | $195,000 | $212,550 | $233,805 |
TOTAL CAPITAL | |||
TOTAL LIABILITIES AND CAPITAL | |||
Net Worth | $268,000 | $292,120 | $321,332 |
Sales Growth | 7.31% | 8.10% | 8.97% | 3.00% |
Percent of Total Assets | ||||
Accounts Receivable | 9.35% | 10.36% | 11.48% | 9.80% |
Inventory | 5.38% | 5.96% | 6.60% | 9.90% |
Other Current Assets | 2.43% | 2.69% | 2.98% | 2.40% |
Total Current Assets | 150.00% | 152.00% | 152.00% | 158.00% |
Long-term Assets | 11.98% | 12.07% | 12.10% | 12.00% |
TOTAL ASSETS | ||||
Current Liabilities | 4.66% | 4.70% | 4.74% | 4.34% |
Long-term Liabilities | 0.00% | 0.00% | 0.00% | 0.00% |
Total Liabilities | 7.31% | 7.37% | 7.44% | 7.38% |
NET WORTH | ||||
Percent of Sales | ||||
Sales | 100.00% | 100.00% | 100.00% | 100.00% |
Gross Margin | 93.90% | 96.44% | 99.14% | 99.00% |
Selling, General & Administrative Expenses | 93.20% | 95.72% | 98.40% | 97.80% |
Advertising Expenses | 1.60% | 1.64% | 1.69% | 1.40% |
Profit Before Interest and Taxes | 42.00% | 43.13% | 44.34% | 33.90% |
Main Ratios | ||||
Current | 35 | 37 | 38.75 | 32 |
Quick | 33 | 36 | 36.9 | 33 |
Total Debt to Total Assets | 0.22% | 0.18% | 0.17% | 0.40% |
Pre-tax Return on Net Worth | 76.00% | 76.40% | 77.12% | 75.00% |
Pre-tax Return on Assets | 92.18% | 96.79% | 101.63% | 111.30% |
Additional Ratios | Year 1 | Year 2 | Year 3 | |
Net Profit Margin | 33.40% | 34.44% | 35.50% | N.A. |
Return on Equity | 55.20% | 56.91% | 58.68% | N.A. |
Activity Ratios | ||||
Accounts Receivable Turnover | 7.7 | 7.8 | 7.9 | N.A. |
Collection Days | 100 | 100 | 100 | N.A. |
Inventory Turnover | 32 | 33.6 | 35.28 | N.A. |
Accounts Payable Turnover | 16.3 | 16.4 | 16.6 | N.A. |
Payment Days | 27 | 27 | 27 | N.A. |
Total Asset Turnover | 2.5 | 2.6 | 2.7 | N.A. |
Debt Ratios | ||||
Debt to Net Worth | -0.03 | -0.04 | -0.04 | N.A. |
Current Liab. to Liab. | 1 | 1 | 1 | N.A. |
Liquidity Ratios | ||||
Net Working Capital | $237,650 | $250,958 | $265,012 | N.A. |
Interest Coverage | 0 | 0 | 0 | N.A. |
Additional Ratios | ||||
Assets to Sales | 0.85 | 0.87 | 0.89 | N.A. |
Current Debt/Total Assets | 1% | 1% | 0% | N.A. |
Acid Test | 28 | 29.1 | 30.5 | N.A. |
Sales/Net Worth | 2.1 | 2.2 | 2.4 | N.A. |
Dividend Payout | 0 | 0 | 0 | N.A. |
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Start your own catering and ballroom rental business plan
Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">.
Sumptuous Cuisine Catering is a local catering company serving both business and private clients in Doeuvreville and the surrounding towns within a ten mile radius. Established in 2005, the business has operated a catering kitchen and specialized in full-service catering and event planning for upscale events in the region. The business event management, event staff, a variety of cuisine for breakfasts, lunches, dinners, and appetizers, alcoholic and non-alcoholic beverage service, floral design, space design and decor, musicians and DJs, event equipment and furniture rentals, and other event services. Sumptuous Cuisine Catering seeks to expand its operations to a dedicated venue, called The Sumptuous Ballroom, located in Doeuvreville, with a mortgage on the space, its own cash reserves and the issuing of a convertible debt to angel investors.
The addition of The Sumptuous Ballroom to the services provided by Sumptuous Cuisine Catering will enable gross margins to rise above their previous levels and industry averages as rentals of space provide high gross margins. Both existing and new clients will be interested in using this space, and in the additional services Sumptuous Cuisine Catering provides. Top line sales will grow from their current level in 2009 to more than double in 2012. Net profits will rise three-fold from 2010 to 2012 after this acquisition, even with the expected increases in operating expenses. Sumptuous Cuisine Catering will seek to utilize the space on at least 40% of days by the end of year 3 to achieve these results.
Sumptuous Cuisine Catering has set the following objectives for the first three years of the launch of its ballroom:
Sumptuous Cuisine Catering offers top-class event experiences with flawless execution to business and private clients in the Doeuvreville area. With Sumptuous Cuisine Catering running your event, the food will be delicious, the service will be excellent and the guests will be wowed.
Keys to success in the catering and event business include:
Sumptuous Cuisine Catering keeps these keys in mind through all events they have managed and catered in the past and will renew their efforts as they open their own catering venue.
Sumptuous Cuisine Catering is a local catering company serving both business and private clients in Doeuvreville and the surrounding towns within a ten mile radius. Established in 2005, the business has operated a catering kitchen and specialized in full-service catering and event planning for upscale events in the region both at client sites and at event spaces and halls. The business became the in-house caterer at Corporate Hall, a corporate meeting space, in Doeuvreville in 2008, and has developed expertise related to managing client events and event planning. For most events, Sumptuous Cuisine Catering provides referrals to additional vendors, manages client rental equipment needs, and provides event management expertise on the day of the event.
Sumptuous Cuisine Catering was founded by partners Rudy Electrum and Tosca Cabrini. Built from the ground up by these partners, Rudy owns 49% of the business and Tosca 51%. The business is established as an LLC.
10% of shares will be given to angel investors who purchase $270,000 in convertible debt to help to finance the expansion of Sumptuous Cuisine Catering. This will dilute Electrum’s shares to 44% and Cabrini’s shares to 46%.
Over the past three years, Sumptuous Cuisine Catering has made significant advances, developing its core business significantly after somewhat slow growth for its first two years of operation. Gross and operating margins have steadily improved and the business has continued to invest in kitchen and delivery equipment, as well as some of its own event furniture.
Sales have grown due to increasing partnerships with venues, like Corporate Hall, and event planners, like Jackie Lyman Associates and Your Perfect Event LLC which refer clients and subcontract work to Sumptuous Cuisine Catering. These referrals and partnerships have accounted for 75% of growth in the past three years. Corporate Hall alone accounted for 15% of sales in 2009. The remaining growth has been due to new client acquisition through marketing and referrals to clients directly.
Inventory has historically included raw materials for food as well as beverages and liquor. These have been accounted for as inventory and attributed to cost of sales for each job. Cost of sales has also included hourly wages to cater-waiters, event managers and other event staff, fuel for delivery, and supplies for the event (paper napkins, etc). Cost of sales also includes vendor subcontractors who the client pays through Sumptuous Cuisine Catering (generally rental equipment, florists, designers and musicians/DJs). Sumptuous Cuisine Catering lets clients contract directly when they prefer and recommends they contract directly with audio-visual and lighting providers.
Operating expenses have dropped from 45% of sales to 40% of sales over these previous three years, while they have grown by $150,000 in absolute value.
Past Performance | |||
2007 | 2008 | 2009 | |
Sales | $1,000,000 | $1,300,000 | $1,500,000 |
Gross Margin | $550,000 | $741,000 | $885,000 |
Gross Margin % | 55.00% | 57.00% | 59.00% |
Operating Expenses | $450,000 | $552,500 | $600,000 |
Collection Period (days) | 51 | 58 | 78 |
Inventory Turnover | 32.14 | 38.55 | 39.68 |
Balance Sheet | |||
2007 | 2008 | 2009 | |
Current Assets | |||
Cash | $150,000 | $200,000 | $300,000 |
Accounts Receivable | $41,667 | $83,333 | $108,333 |
Inventory | $14,000 | $15,000 | $16,000 |
Other Current Assets | $2,500 | $2,500 | $2,500 |
Total Current Assets | $208,167 | $300,833 | $426,833 |
Long-term Assets | |||
Long-term Assets | $75,000 | $85,000 | $90,000 |
Accumulated Depreciation | $20,000 | $27,500 | $40,000 |
Total Long-term Assets | $55,000 | $57,500 | $50,000 |
Total Assets | $263,167 | $358,333 | $476,833 |
Current Liabilities | |||
Accounts Payable | $37,500 | $46,042 | $50,000 |
Current Borrowing | $0 | $0 | $0 |
Other Current Liabilities (interest free) | $0 | $0 | $0 |
Total Current Liabilities | $37,500 | $46,042 | $50,000 |
Long-term Liabilities | $5,000 | $2,500 | $0 |
Total Liabilities | $42,500 | $48,542 | $50,000 |
Paid-in Capital | $200,000 | $200,000 | $200,000 |
Retained Earnings | $667 | $59,792 | $151,833 |
Earnings | $20,000 | $50,000 | $75,000 |
Total Capital | $220,667 | $309,792 | $426,833 |
Total Capital and Liabilities | $263,167 | $358,333 | $476,833 |
Other Inputs | |||
Payment Days | 30 | 30 | 30 |
Sales on Credit | $300,000 | $390,000 | $450,000 |
Receivables Turnover | 7.20 | 4.68 | 4.15 |
Sumptuous Cuisine Catering currently offers the following products and services:
Through subcontractors, Sumptuous Cuisine Catering offers:
Through referrals, Sumptuous Cuisine Catering offers:
Future plans include the following additions with the opening of The Sumptuous Ballroom:
The catering industry serves private, corporate, and non-profit events with food, drinks, event management and other services. Events are generally held by clients in order to celebrate, communicate, or both.
There is a movement towards horizontal integration in the greater event industry, with some full-service event providers growing to provide entertainment, audio-visual and technology, catering, rentals, decor, venues and more. Businesses that provide these additional services may take on assets that are not as fully utilized as a specialist’s would be, but they can earn greater margins on the sales they make. With its opening of The Sumptuous Ballroom, Sumptuous Cuisine Catering will become part of this integration movement.
The market analysis chart is provided for the Doeuvreville area in a radius of ten miles.
The corporate market is defined as businesses which hold at least one off-site event each year. Businesses often have A/V and public relations needs in concert with their events which may serve a marketing function for the business. Whether entertaining the press, clients, or board members, businesses require professional execution, delicious food and drinks, and alignment between the event managers/caterers and their business’s objectives for the event.
The private market includes households with a combined household income of over $80,000 per year (those most likely to throw an upscale event in a rented venue). This group puts a great deal of pressure on caterers and requires added attention, as lavish events may be uncommon for them. They require hands-on work and planning as well as expert advice and referrals throughout the process.
The non-profit market is defined as non-profit organizations which hold at least one off-site event each year. Very price conscious, the non-profit market looks for in-kind donations and discounted services whenever possible. Some non-profits realize the benefit of paying for great events which lead, in kind, to improved perception of the organization and donations, while others will take the lowest price available at the minimal quality level acceptable.
Market Analysis | |||||||
2010 | 2011 | 2012 | 2013 | 2014 | |||
Potential Customers | Growth | CAGR | |||||
Corporate | 1% | 2,500 | 2,525 | 2,550 | 2,576 | 2,602 | 1.00% |
Private | 2% | 25,000 | 25,500 | 26,010 | 26,530 | 27,061 | 2.00% |
Non-Profit | 1% | 500 | 505 | 510 | 515 | 520 | 0.99% |
Total | 1.89% | 28,000 | 28,530 | 29,070 | 29,621 | 30,183 | 1.89% |
Sumptuous Cuisine Catering has, traditionally, targeted the private and corporate markets primarily. They will continue this focus with the launch of The Sumptuous Ballroom. Private clients, although requiring additional labor and handholding, can be charged somewhat higher rates than corporate clients. Furthermore, they help to “recession-proof” the business by providing steadier revenue streams in economic downturns.
Corporate business can lead to repeat engagements with clients who have annual or even quarterly events and are more valuable as clients to acquire than private clients, even though the margin percentages are lower on each event.
Non-profit clients generally seek lower cost providers and venues and, while they do seek out Sumptuous Cuisine Catering without much marketing to that group, the company’s bids are generally does not accepted. Sumptuous Cuisine Catering will continue to choose specific non-profits to sponsor events for to create visibility for strategic purposes or based on the charitable interests of the owners, but will not market directly to non-profits.
The catering industry is extremely fragmented, with 33,000 companies across the United States. Customers find caterers through referrals, online searches, Yellow Pages, and through businesses which run restaurants they are already familiar with. They will generally contact the catering company by phone to discuss the details of their events directly.
Some businesses and private clients hire event planners or producers to handle the details of their event, including choice of caterer. In this case, these firms, which are more familiar with the industry, may act as a buffer between the end client and the caterer, sometimes making the process of planning smoother.
Key competitors of Sumptuous Cuisine Catering include:
Doeuvreville area customers choose caterers for their events based on the following characteristics:
Sumptuous Cuisine Catering offers a range of cuisine options, high quality, and added services based on the one-stop shop model. The business does not compete on price and offers services at prices higher than average for caterers in general and on the upper side of options for the Doeuvreville area.
Sumptuous Cuisine Catering intends to open The Sumptuous Ballroom, an event venue in Doeuvreville. The ballroom will be purchased from the previous owner, the city of Doeuvreville, which used the space as a community center until it was abandoned one year ago. After renovations, the ballroom will create synergy with Sumptuous Cuisine Catering’s business by offering a location to bring in current and future clients who will also utilize both the catering and event planning services of Sumptuous Cuisine Catering.
Sumptuous Cuisine Catering will:
Sumptuous Cuisine Catering will create a competitive edge in Doeuvreville by becoming a true “one-stop-shop” for all-inclusive events with the purchase of The Sumptuous Ballroom. Clients will not have to work with multiple vendors, but can work directly with their assigned Sumptuous Cuisine Catering account executive for all of their event planning and vendor coordination needs.
Currently, competitors in the Doeuvreville area do not offer the same combination of upscale catering, track record, flexibility of cuisine, and a beautiful venue which Sumptuous Cuisine Catering will be able to offer.
Sumptuous Cuisine Catering will focus its marketing for their new ballroom on the corporate and private upscale event markets. The business will use the following media and tactics to reach this audience:
This sales strategy will continue with the opening of The Sumptuous Ballroom. Rentals at the ballroom will be promoted by all staff when they work with clients. An additional salesperson will field inquiries made directly about The Sumptuous Ballroom rentals to handle the additional volume of work required to increase the utilization of this space. Salespeople will be added for The Sumptuous Ballroom over the first three years of its operations as business grows. These salespeople will have the same training and knowledge of all of Sumptuous Cuisine Catering’s services, but will work only with clients interested in events at the ballroom.
Renovation of The Sumptuous Ballroom will occur in the first three months of 2010, preparing for a March 15 opening of the space.
Off-site food and beverage has traditionally been the largest revenue stream for Sumptuous Cuisine Catering, as this is the driver behind all of the other revenue streams. Subcontracted services, staffing, referral fees, and event planning are only offered when there is a core food and beverage package sold for an event. The F & B for The Sumptuous Ballroom events has been separated out for separate tracking, going forward, as have venue rentals of The Sumptuous Ballroom.
A typical event is a $10,000 food and beverage package with $5,000 in subcontracted services, $8,000 in staffing, and $1,500 in event planning fees. Typical events at The Sumptuous Ballroom will also incur a ballroom rental of $2,500 as a base fee.
The F & B cost is low, at 25% of the combined off-site and The Sumptuous Ballroom F & B revenues. Ingredients are purchased in bulk whenever possible at wholesale rates. A high markup can be earned on food and an even higher markup on liquor, which can sometimes cost as little as 15% of sales.
The cost of hourly event staff (bartenders, waiters, coat check, door check, restroom attendants, event managers, etc.) is recognized on the P & L statement under other cost of sales.
The Sumptuous Ballroom revenues will scale up sharply in the first year as the space is better utilized, but this growth will level off in years 2 and 3 as not all event dates are as desirable to clients and the most popular dates will book first. This projection incorporates the objective that the ballroom be utilized on 50% of days by the end of year 3.
Sumptuous Cuisine Catering expects that the existing line of business events at Corporate Hall will continue even with the addition of its own space, The Sumptuous Ballroom, because Corporate Hall hosts primarily smaller meetings than can be accommodated at The Sumptuous Ballroom. Sumptuous Cuisine Catering considers the two spaces to not be in direct competition. The relationship with Corporate Hall will allow Sumptuous Cuisine Catering to refer smaller meetings to that space, perhaps helping to build business at Corporate Hall through new inquiries.
Sales Forecast | |||
2010 | 2011 | 2012 | |
Sales | |||
Off-Site Food & Beverage | $784,537 | $941,444 | $1,129,733 |
Sumptuous Ballroom Food & Beverage | $79,687 | $103,593 | $134,671 |
Subcontracted Services | $354,801 | $425,761 | $510,913 |
Ballroom Rentals | $168,750 | $236,250 | $307,125 |
Staffing | $648,168 | $783,778 | $948,303 |
Referral Fees/Commissions | $108,028 | $130,630 | $158,051 |
Event Planning | $108,028 | $130,630 | $158,051 |
Total Sales | $2,251,998 | $2,752,086 | $3,346,846 |
Direct Cost of Sales | 2010 | 2011 | 2012 |
Food and Beverage Cost | $216,056 | $261,259 | $316,101 |
Other | $0 | $0 | $0 |
Subtotal Direct Cost of Sales | $216,056 | $261,259 | $316,101 |
The milestones listed are the key steps to launching The Sumptuous Ballroom.
Renovation of the space will be directed by CEO, Tosca Cabrini, with insight from all staff. The work will be directed by a renovations contractor who will subcontract work to electricians, plumbers, painters, floor specialists, etc
The other activities come under the marketing umbrella of Antero MacDougal, Sumptuous Cuisine Catering’s marketing director. The preparations will be made while the venue is being renovated, although finished photos of the new space will not be available until renovation is complete.
Introductory rates will reduce the rate of 100 events by $500 to encourage first-time rentals of the ballroom.
Milestones | |||||
Milestone | Start Date | End Date | Budget | Manager | Department |
Renovate Space | 1/1/2010 | 3/15/2010 | $100,000 | TC | Operations |
Open Venue | 3/15/2010 | 3/15/2010 | $0 | TC | Operations |
Create The Sumptuous Ballroom Website | 2/1/2010 | 2/28/2010 | $10,000 | JR | Marketing |
Revise & print brochure | 2/1/2010 | 2/28/2010 | $5,000 | JR | Marketing |
Introductory Rates | 3/15/2010 | 8/31/2010 | $50,000 | JR | Marketing |
Summer Business Fair | 7/9/2010 | 7/20/2010 | $5,000 | JR | Marketing |
Email Campaign | 3/15/2010 | 3/31/2010 | $500 | JR | Marketing |
Advertise Locally | 3/15/2010 | 4/15/2010 | $10,000 | JR | Marketing |
Press Kit & Campaign | 3/15/2010 | 4/15/2010 | $2,000 | JR | Marketing |
Totals | $182,500 |
Sumptuous Cuisine Catering is directed by CEO Rudy Electrum. Second-in-command is COO Tosca Cabrini.
Electrum heads sales and strategy for the business, in close consultation with Cabrini. Cabrini manages the operations of the kitchen, human resources (hiring and training) and finances.
Marketing is directed and executed by Antero MacDougal. MacDougal is the liaison to outside graphic and Web designers and other marketing service firms used by Sumptuous Cuisine Catering. MacDougal reports to the CEO.
The Facility Manager will be hired to act as a manager of the hall. This will include providing information to vendors setting up in the space, providing access to the clients for set-up, light maintenance and repairs, contracting vendors for heavier repair work, and setting up cleanings of the space. The Facility Manager will have a small office at The Sumptuous Ballroom and will work during the daytime. Event managers from the catering staff will be present during the events. The Facility Manager will be trained by and report to the COO.
The personnel table shows full-time personnel only.
A full-time administrative assistant keeps the books for the business and process A/R and A/P.
Sales staff, beginning at one, are managed by the CEO. A salesperson will be added in year 2 and again in year 3. The new salespeople will be dedicated to sales of The Sumptuous Ballroom and will work on salary plus a 3% commission on sales.
The kitchen is staffed by a salaried head cook and one assistant cook paid by the hour.
Events are staffed by a roster of 30 event managers, cater-waiters, bartenders, and other staff. Most staff are cross-trained between the various roles.
Personnel Plan | |||
2010 | 2011 | 2012 | |
CEO | $84,000 | $87,360 | $90,854 |
COO | $72,000 | $74,880 | $77,875 |
Marketing Director | $60,000 | $62,400 | $64,896 |
Salespeople | $48,000 | $97,440 | $149,083 |
Administrative Assistant | $48,000 | $49,920 | $51,917 |
Head Cook | $60,000 | $62,400 | $64,896 |
Assistant Cooks | $48,000 | $49,920 | $51,917 |
Facility Manager | $54,000 | $56,160 | $58,406 |
Total People | 8 | 9 | 10 |
Total Payroll | $474,000 | $540,480 | $609,845 |
Sumptuous Cuisine Catering will fund its expansion largely though its own cash reserves and a loan for the purchase of The Sumptuous Ballroom.
The funds needed include:
Sources for the funds include:
The business will return to stronger profits and gross margins after the acquisition.
The table below presents the assumptions used in the financial calculations of this business plan.
Due to the high fixed costs of the venue, the monthly break even is rather high, as shown below. This would be approximately 9-10 events at $10,000 per event. Revenue is higher for The Sumptuous Ballroom events due to the ballroom rental fee and greater leverage to provide additional services to clients, than for revenue from off-site events.
Break-even Analysis | |
Monthly Revenue Break-even | $93,206 |
Assumptions: | |
Average Percent Variable Cost | 10% |
Estimated Monthly Fixed Cost | $84,264 |
Gross margins will improve for the business as ballroom rentals build as a revenue stream. Facility rentals do not have a direct cost of sales, although higher fixed costs are associated with The Sumptuous Ballroom than with the core business.
Subcontracted services are the other major cost of sales category, and incur a higher cost of sales, at 80% of subcontracted services sold, than other categories. These services (like floral design, rental furniture, etc.) are discounted by the vendors because of their relationship with Sumptuous Cuisine Catering. The effect is that Sumptuous Cuisine Catering bills these services on to clients at the vendor’s advertised rates and takes their margin of 20% on those revenues.
Marketing will be higher in the first year to accommodate the additional marketing activities described in the marketing strategy and milestones table. Depreciation will be for the existing equipment in the catering kitchen and for the installed sound and networking equipment in the venue.
Rent is for the catering kitchen and office only, as the ballroom will be purchased by the business. Utilities will be much higher than previously due to the high electric, heating, and air conditioning costs of the new space compared with the kitchen and office alone. Insurance also must increase significantly from previous levels due to the need for general liability for the space and guests.
Payroll taxes are 15% of payroll (which includes the event staff cost of sales) and employee benefits (including health insurance, 401K contributions for employees who with tenure over 2 years, vacation and sick pay) are 10% of payroll and event staff costs.
Office expenses cover maintenance of computer equipment and sundry supplies for the office. Facility cleaning and maintenance includes a budget for $200 of maintenance and an estimate for cleaning which will grow as use of the ballroom scales up. Cleaning will be provided by an outside vendor and managed by the Facility Manager.
Pro Forma Profit and Loss | |||
2010 | 2011 | 2012 | |
Sales | $2,251,998 | $2,752,086 | $3,346,846 |
Direct Cost of Sales | $216,056 | $261,259 | $316,101 |
Event Staff | $382,840 | $467,855 | $568,964 |
Subcontracted Services | $283,841 | $340,609 | $408,730 |
Total Cost of Sales | $882,736 | $1,069,723 | $1,293,795 |
Gross Margin | $1,369,262 | $1,682,363 | $2,053,051 |
Gross Margin % | 60.80% | 61.13% | 61.34% |
Expenses | |||
Payroll | $474,000 | $540,480 | $609,845 |
Marketing/Promotion | $106,000 | $100,000 | $100,000 |
Depreciation | $28,000 | $28,000 | $28,000 |
Rent | $24,000 | $25,200 | $26,460 |
Utilities | $7,959 | $9,000 | $10,000 |
Insurance | $36,000 | $37,440 | $38,938 |
Payroll Taxes | $128,526 | $151,250 | $176,821 |
Employee Benefits | $85,684 | $100,833 | $117,881 |
Office Expenses | $6,000 | $6,500 | $7,000 |
Facility Cleaning & Maintenance | $115,000 | $137,804 | $167,542 |
Total Operating Expenses | $1,011,168 | $1,136,508 | $1,282,487 |
Profit Before Interest and Taxes | $358,094 | $545,855 | $770,564 |
EBITDA | $386,094 | $573,855 | $798,564 |
Interest Expense | $181,222 | $171,000 | $160,333 |
Taxes Incurred | $53,061 | $112,457 | $183,069 |
Net Profit | $123,810 | $262,399 | $427,162 |
Net Profit/Sales | 5.50% | 9.53% | 12.76% |
The projected cash flow table and chart show the business’s investment in The Sumptuous Ballroom, a $2 million purchase. The asset will be purchased with 20% down and a $1.6 million 15-year mortgage. An additional $270,000 in convertible debt will be raised at 10% interest for three years.
In addition to this investment, $50,000 in depreciable assets will be purchased (sound system, office set-up for the facility). Small investments in replacing these assets and augmenting them with strategic purchases will be made in future years. Current assets ($100,000) purchased will include signage and improvements to the venue.
The business will reach cash flow break-even in July 2010.
Pro Forma Cash Flow | |||
2010 | 2011 | 2012 | |
Cash Received | |||
Cash from Operations | |||
Cash Sales | $1,125,999 | $1,376,043 | $1,673,423 |
Cash from Receivables | $1,055,339 | $1,336,295 | $1,626,150 |
Subtotal Cash from Operations | $2,181,338 | $2,712,337 | $3,299,573 |
Additional Cash Received | |||
Sales Tax, VAT, HST/GST Received | $180,160 | $220,167 | $267,748 |
New Current Borrowing | $0 | $0 | $0 |
New Other Liabilities (interest-free) | $0 | $0 | $0 |
New Long-term Liabilities | $1,870,000 | $0 | $0 |
Sales of Other Current Assets | $0 | $0 | $0 |
Sales of Long-term Assets | $0 | $0 | $0 |
New Investment Received | $0 | $0 | $0 |
Subtotal Cash Received | $4,231,498 | $2,932,504 | $3,567,321 |
Expenditures | 2010 | 2011 | 2012 |
Expenditures from Operations | |||
Cash Spending | $474,000 | $540,480 | $609,845 |
Bill Payments | $1,508,109 | $1,928,419 | $2,254,866 |
Subtotal Spent on Operations | $1,982,109 | $2,468,899 | $2,864,711 |
Additional Cash Spent | |||
Sales Tax, VAT, HST/GST Paid Out | $180,160 | $220,167 | $267,748 |
Principal Repayment of Current Borrowing | $0 | $0 | $0 |
Other Liabilities Principal Repayment | $0 | $0 | $0 |
Long-term Liabilities Principal Repayment | $106,668 | $106,668 | $106,668 |
Purchase Other Current Assets | $100,000 | $0 | $0 |
Purchase Long-term Assets | $2,050,000 | $5,000 | $5,000 |
Dividends | $0 | $0 | $0 |
Subtotal Cash Spent | $4,418,937 | $2,800,734 | $3,244,127 |
Net Cash Flow | ($187,439) | $131,771 | $323,194 |
Cash Balance | $112,561 | $244,331 | $567,526 |
The balance sheet shows the increasing strength of the business as its mortgage is paid off and profits are earned from the expansion of the business. Accounts payable will rise significantly from previous levels due to the added expenses taken on by the business when The Sumptuous Ballroom opens.
Pro Forma Balance Sheet | |||
2010 | 2011 | 2012 | |
Assets | |||
Current Assets | |||
Cash | $112,561 | $244,331 | $567,526 |
Accounts Receivable | $178,994 | $218,742 | $266,015 |
Inventory | $11,664 | $13,163 | $15,936 |
Other Current Assets | $102,500 | $102,500 | $102,500 |
Total Current Assets | $405,719 | $578,737 | $951,976 |
Long-term Assets | |||
Long-term Assets | $2,140,000 | $2,145,000 | $2,150,000 |
Accumulated Depreciation | $68,000 | $96,000 | $124,000 |
Total Long-term Assets | $2,072,000 | $2,049,000 | $2,026,000 |
Total Assets | $2,477,719 | $2,627,737 | $2,977,976 |
Liabilities and Capital | 2010 | 2011 | 2012 |
Current Liabilities | |||
Accounts Payable | $163,743 | $158,031 | $187,776 |
Current Borrowing | $0 | $0 | $0 |
Other Current Liabilities | $0 | $0 | $0 |
Subtotal Current Liabilities | $163,743 | $158,031 | $187,776 |
Long-term Liabilities | $1,763,332 | $1,656,664 | $1,549,996 |
Total Liabilities | $1,927,075 | $1,814,695 | $1,737,772 |
Paid-in Capital | $200,000 | $200,000 | $200,000 |
Retained Earnings | $226,833 | $350,643 | $613,042 |
Earnings | $123,810 | $262,399 | $427,162 |
Total Capital | $550,643 | $813,042 | $1,240,204 |
Total Liabilities and Capital | $2,477,719 | $2,627,737 | $2,977,976 |
Net Worth | $550,643 | $813,042 | $1,240,204 |
The table compares the business ratios of Sumptuous Cuisine Catering to caterers in the $1 million to $5 million revenue category. Caterers with banquet halls are covered by NAICS industry code 722320, or SIC code 5812.
Ratio Analysis | ||||
2010 | 2011 | 2012 | Industry Profile | |
Sales Growth | 50.13% | 22.21% | 21.61% | 1.65% |
Percent of Total Assets | ||||
Accounts Receivable | 7.22% | 8.32% | 8.93% | 3.53% |
Inventory | 0.47% | 0.50% | 0.54% | 6.34% |
Other Current Assets | 4.14% | 3.90% | 3.44% | 43.25% |
Total Current Assets | 16.37% | 22.02% | 31.97% | 53.12% |
Long-term Assets | 83.63% | 77.98% | 68.03% | 46.88% |
Total Assets | 100.00% | 100.00% | 100.00% | 100.00% |
Current Liabilities | 6.61% | 6.01% | 6.31% | 25.40% |
Long-term Liabilities | 71.17% | 63.05% | 52.05% | 73.91% |
Total Liabilities | 77.78% | 69.06% | 58.35% | 99.31% |
Net Worth | 22.22% | 30.94% | 41.65% | 0.69% |
Percent of Sales | ||||
Sales | 100.00% | 100.00% | 100.00% | 100.00% |
Gross Margin | 60.80% | 61.13% | 61.34% | 58.06% |
Selling, General & Administrative Expenses | 55.30% | 51.60% | 48.58% | 23.02% |
Advertising Expenses | 4.71% | 3.63% | 2.99% | 1.74% |
Profit Before Interest and Taxes | 15.90% | 19.83% | 23.02% | 6.52% |
Main Ratios | ||||
Current | 2.48 | 3.66 | 5.07 | 1.25 |
Quick | 2.41 | 3.58 | 4.98 | 1.00 |
Total Debt to Total Assets | 77.78% | 69.06% | 58.35% | 99.31% |
Pre-tax Return on Net Worth | 32.12% | 46.11% | 49.20% | 4325.19% |
Pre-tax Return on Assets | 7.14% | 14.27% | 20.49% | 29.65% |
Additional Ratios | 2010 | 2011 | 2012 | |
Net Profit Margin | 5.50% | 9.53% | 12.76% | n.a |
Return on Equity | 22.48% | 32.27% | 34.44% | n.a |
Activity Ratios | ||||
Accounts Receivable Turnover | 6.29 | 6.29 | 6.29 | n.a |
Collection Days | 44 | 53 | 53 | n.a |
Inventory Turnover | 24.00 | 21.05 | 21.73 | n.a |
Accounts Payable Turnover | 9.90 | 12.17 | 12.17 | n.a |
Payment Days | 28 | 31 | 28 | n.a |
Total Asset Turnover | 0.91 | 1.05 | 1.12 | n.a |
Debt Ratios | ||||
Debt to Net Worth | 3.50 | 2.23 | 1.40 | n.a |
Current Liab. to Liab. | 0.08 | 0.09 | 0.11 | n.a |
Liquidity Ratios | ||||
Net Working Capital | $241,975 | $420,706 | $764,200 | n.a |
Interest Coverage | 1.98 | 3.19 | 4.81 | n.a |
Additional Ratios | ||||
Assets to Sales | 1.10 | 0.95 | 0.89 | n.a |
Current Debt/Total Assets | 7% | 6% | 6% | n.a |
Acid Test | 1.31 | 2.19 | 3.57 | n.a |
Sales/Net Worth | 4.09 | 3.38 | 2.70 | n.a |
Dividend Payout | 0.00 | 0.00 | 0.00 | n.a |
Sales Forecast | |||||||||||||
Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ||
Sales | |||||||||||||
Off-Site Food & Beverage | $50,000 | $52,500 | $55,125 | $57,881 | $60,775 | $63,814 | $67,005 | $69,685 | $72,472 | $75,371 | $78,386 | $81,522 | |
Sumptuous Ballroom Food & Beverage | $0 | $0 | $5,000 | $5,500 | $6,050 | $6,655 | $7,321 | $8,053 | $8,858 | $9,744 | $10,718 | $11,790 | |
Subcontracted Services | $25,000 | $25,750 | $26,523 | $27,318 | $28,138 | $28,982 | $29,851 | $30,747 | $31,669 | $32,619 | $33,598 | $34,606 | |
Ballroom Rentals | $0 | $0 | $5,000 | $7,500 | $11,250 | $13,750 | $16,250 | $18,750 | $21,250 | $23,750 | $25,000 | $26,250 | |
Staffing | $37,500 | $39,375 | $45,094 | $47,536 | $50,119 | $52,852 | $55,744 | $58,303 | $60,998 | $63,836 | $66,828 | $69,983 | |
Referral Fees/Commissions | $6,250 | $6,563 | $7,516 | $7,923 | $8,353 | $8,809 | $9,291 | $9,717 | $10,166 | $10,639 | $11,138 | $11,664 | |
Event Planning | $6,250 | $6,563 | $7,516 | $7,923 | $8,353 | $8,809 | $9,291 | $9,717 | $10,166 | $10,639 | $11,138 | $11,664 | |
Total Sales | $125,000 | $130,750 | $151,773 | $161,581 | $173,038 | $183,670 | $194,752 | $204,972 | $215,580 | $226,599 | $236,806 | $247,478 | |
Direct Cost of Sales | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
Food and Beverage Cost | 25% | $12,500 | $13,125 | $15,031 | $15,845 | $16,706 | $17,617 | $18,581 | $19,434 | $20,333 | $21,279 | $22,276 | $23,328 |
Other | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Direct Cost of Sales | $12,500 | $13,125 | $15,031 | $15,845 | $16,706 | $17,617 | $18,581 | $19,434 | $20,333 | $21,279 | $22,276 | $23,328 |
Personnel Plan | |||||||||||||
Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ||
CEO | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | $7,000 | |
COO | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | $6,000 | |
Marketing Director | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | |
Salespeople | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | |
Administrative Assistant | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | |
Head Cook | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | |
Assistant Cooks | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | $4,000 | |
Facility Manager | $4,500 | $4,500 | $4,500 | $4,500 | $4,500 | $4,500 | $4,500 | $4,500 | $4,500 | $4,500 | $4,500 | $4,500 | |
Total People | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | 8 | |
Total Payroll | $39,500 | $39,500 | $39,500 | $39,500 | $39,500 | $39,500 | $39,500 | $39,500 | $39,500 | $39,500 | $39,500 | $39,500 |
Pro Forma Profit and Loss | |||||||||||||
Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ||
Sales | $125,000 | $130,750 | $151,773 | $161,581 | $173,038 | $183,670 | $194,752 | $204,972 | $215,580 | $226,599 | $236,806 | $247,478 | |
Direct Cost of Sales | $12,500 | $13,125 | $15,031 | $15,845 | $16,706 | $17,617 | $18,581 | $19,434 | $20,333 | $21,279 | $22,276 | $23,328 | |
Event Staff | 17% | $21,250 | $22,228 | $25,801 | $27,469 | $29,417 | $31,224 | $33,108 | $34,845 | $36,649 | $38,522 | $40,257 | $42,071 |
Subcontracted Services | $20,000 | $20,600 | $21,218 | $21,855 | $22,510 | $23,185 | $23,881 | $24,597 | $25,335 | $26,095 | $26,878 | $27,685 | |
Total Cost of Sales | $53,750 | $55,953 | $62,051 | $65,169 | $68,633 | $72,027 | $75,570 | $78,877 | $82,316 | $85,896 | $89,411 | $93,084 | |
Gross Margin | $71,250 | $74,798 | $89,722 | $96,412 | $104,405 | $111,643 | $119,182 | $126,095 | $133,263 | $140,703 | $147,395 | $154,395 | |
Gross Margin % | 57.00% | 57.21% | 59.12% | 59.67% | 60.34% | 60.78% | 61.20% | 61.52% | 61.82% | 62.09% | 62.24% | 62.39% | |
Expenses | |||||||||||||
Payroll | $39,500 | $39,500 | $39,500 | $39,500 | $39,500 | $39,500 | $39,500 | $39,500 | $39,500 | $39,500 | $39,500 | $39,500 | |
Marketing/Promotion | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $10,000 | $8,000 | $8,000 | $8,000 | $6,000 | $6,000 | |
Depreciation | 50000 | $2,333 | $2,333 | $2,333 | $2,333 | $2,333 | $2,333 | $2,333 | $2,333 | $2,333 | $2,333 | $2,333 | $2,333 |
Rent | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | $2,000 | |
Utilities | $500 | $525 | $551 | $579 | $608 | $638 | $670 | $704 | $739 | $776 | $814 | $855 | |
Insurance | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | |
Payroll Taxes | 15% | $9,113 | $9,259 | $9,795 | $10,045 | $10,337 | $10,609 | $10,891 | $11,152 | $11,422 | $11,703 | $11,964 | $12,236 |
Employee Benefits | 10% | $6,075 | $6,173 | $6,530 | $6,697 | $6,892 | $7,072 | $7,261 | $7,435 | $7,615 | $7,802 | $7,976 | $8,157 |
Office Expenses | 15% | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 | $500 |
Facility Cleaning & Maintenance | $6,450 | $6,738 | $7,789 | $8,279 | $8,852 | $9,384 | $9,938 | $10,449 | $10,979 | $11,530 | $12,040 | $12,574 | |
Total Operating Expenses | $79,471 | $80,028 | $81,999 | $82,933 | $84,022 | $85,036 | $86,093 | $85,072 | $86,088 | $87,144 | $86,127 | $87,155 | |
Profit Before Interest and Taxes | ($8,221) | ($5,230) | $7,723 | $13,479 | $20,383 | $26,607 | $33,089 | $41,023 | $47,175 | $53,559 | $61,267 | $67,239 | |
EBITDA | ($5,888) | ($2,897) | $10,057 | $15,812 | $22,717 | $28,941 | $35,422 | $43,356 | $49,508 | $55,892 | $63,601 | $69,573 | |
Interest Expense | $15,509 | $15,435 | $15,361 | $15,287 | $15,213 | $15,139 | $15,065 | $14,991 | $14,917 | $14,843 | $14,769 | $14,694 | |
Taxes Incurred | ($7,119) | ($6,200) | ($2,291) | ($542) | $1,551 | $3,441 | $5,407 | $7,810 | $9,677 | $11,615 | $13,950 | $15,763 | |
Net Profit | ($16,611) | ($14,466) | ($5,346) | ($1,266) | $3,619 | $8,028 | $12,617 | $18,223 | $22,581 | $27,101 | $32,549 | $36,781 | |
Net Profit/Sales | -13.29% | -11.06% | -3.52% | -0.78% | 2.09% | 4.37% | 6.48% | 8.89% | 10.47% | 11.96% | 13.75% | 14.86% |
Pro Forma Cash Flow | |||||||||||||
Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ||
Cash Received | |||||||||||||
Cash from Operations | |||||||||||||
Cash Sales | $62,500 | $65,375 | $75,886 | $80,790 | $86,519 | $91,835 | $97,376 | $102,486 | $107,790 | $113,300 | $118,403 | $123,739 | |
Cash from Receivables | $72,222 | $69,444 | $64,033 | $70,981 | $78,502 | $83,846 | $89,354 | $94,790 | $100,101 | $105,315 | $110,728 | $116,021 | |
Subtotal Cash from Operations | $134,722 | $134,819 | $139,920 | $151,771 | $165,021 | $175,681 | $186,730 | $197,276 | $207,891 | $218,614 | $229,131 | $239,761 | |
Additional Cash Received | |||||||||||||
Sales Tax, VAT, HST/GST Received | 8.00% | $10,000 | $10,460 | $12,142 | $12,926 | $13,843 | $14,694 | $15,580 | $16,398 | $17,246 | $18,128 | $18,944 | $19,798 |
New Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Other Liabilities (interest-free) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Long-term Liabilities | $1,870,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Sales of Other Current Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Sales of Long-term Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
New Investment Received | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Cash Received | $2,014,722 | $145,279 | $152,061 | $164,698 | $178,864 | $190,374 | $202,310 | $213,674 | $225,137 | $236,742 | $248,076 | $259,559 | |
Expenditures | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
Expenditures from Operations | |||||||||||||
Cash Spending | $39,500 | $39,500 | $39,500 | $39,500 | $39,500 | $39,500 | $39,500 | $39,500 | $39,500 | $39,500 | $39,500 | $39,500 | |
Bill Payments | $53,001 | $90,483 | $104,113 | $116,411 | $121,640 | $128,225 | $134,482 | $140,936 | $145,552 | $151,832 | $158,297 | $163,138 | |
Subtotal Spent on Operations | $92,501 | $129,983 | $143,613 | $155,911 | $161,140 | $167,725 | $173,982 | $180,436 | $185,052 | $191,332 | $197,797 | $202,638 | |
Additional Cash Spent | |||||||||||||
Sales Tax, VAT, HST/GST Paid Out | $10,000 | $10,460 | $12,142 | $12,926 | $13,843 | $14,694 | $15,580 | $16,398 | $17,246 | $18,128 | $18,944 | $19,798 | |
Principal Repayment of Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Other Liabilities Principal Repayment | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Long-term Liabilities Principal Repayment | $8,889 | $8,889 | $8,889 | $8,889 | $8,889 | $8,889 | $8,889 | $8,889 | $8,889 | $8,889 | $8,889 | $8,889 | |
Purchase Other Current Assets | $100,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Purchase Long-term Assets | $2,050,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Dividends | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
Subtotal Cash Spent | $2,261,390 | $149,332 | $164,644 | $177,727 | $183,872 | $191,307 | $198,451 | $205,723 | $211,187 | $218,349 | $225,631 | $231,325 | |
Net Cash Flow | ($246,668) | ($4,053) | ($12,582) | ($13,029) | ($5,008) | ($933) | $3,860 | $7,951 | $13,951 | $18,393 | $22,445 | $28,234 | |
Cash Balance | $53,332 | $49,279 | $36,697 | $23,668 | $18,660 | $17,727 | $21,587 | $29,538 | $43,488 | $61,882 | $84,327 | $112,561 |
Pro Forma Balance Sheet | |||||||||||||
Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | ||
Assets | Starting Balances | ||||||||||||
Current Assets | |||||||||||||
Cash | $300,000 | $53,332 | $49,279 | $36,697 | $23,668 | $18,660 | $17,727 | $21,587 | $29,538 | $43,488 | $61,882 | $84,327 | $112,561 |
Accounts Receivable | $108,333 | $98,611 | $94,542 | $106,395 | $116,204 | $124,221 | $132,211 | $140,232 | $147,928 | $155,617 | $163,601 | $171,276 | $178,994 |
Inventory | $16,000 | $6,250 | $6,563 | $7,516 | $7,923 | $8,353 | $8,809 | $9,291 | $9,717 | $10,166 | $10,639 | $11,138 | $11,664 |
Other Current Assets | $2,500 | $102,500 | $102,500 | $102,500 | $102,500 | $102,500 | $102,500 | $102,500 | $102,500 | $102,500 | $102,500 | $102,500 | $102,500 |
Total Current Assets | $426,833 | $260,693 | $252,884 | $253,107 | $250,294 | $253,734 | $261,246 | $273,610 | $289,683 | $311,771 | $338,622 | $369,241 | $405,719 |
Long-term Assets | |||||||||||||
Long-term Assets | $90,000 | $2,140,000 | $2,140,000 | $2,140,000 | $2,140,000 | $2,140,000 | $2,140,000 | $2,140,000 | $2,140,000 | $2,140,000 | $2,140,000 | $2,140,000 | $2,140,000 |
Accumulated Depreciation | $40,000 | $42,333 | $44,667 | $47,000 | $49,333 | $51,667 | $54,000 | $56,333 | $58,667 | $61,000 | $63,333 | $65,667 | $68,000 |
Total Long-term Assets | $50,000 | $2,097,667 | $2,095,333 | $2,093,000 | $2,090,667 | $2,088,333 | $2,086,000 | $2,083,667 | $2,081,333 | $2,079,000 | $2,076,667 | $2,074,333 | $2,072,000 |
Total Assets | $476,833 | $2,358,360 | $2,348,217 | $2,346,107 | $2,340,961 | $2,342,068 | $2,347,246 | $2,357,276 | $2,371,017 | $2,390,771 | $2,415,289 | $2,443,574 | $2,477,719 |
Liabilities and Capital | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | |
Current Liabilities | |||||||||||||
Accounts Payable | $50,000 | $87,027 | $100,238 | $112,364 | $117,373 | $123,749 | $129,789 | $136,091 | $140,498 | $146,561 | $152,866 | $157,491 | $163,743 |
Current Borrowing | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Other Current Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
Subtotal Current Liabilities | $50,000 | $87,027 | $100,238 | $112,364 | $117,373 | $123,749 | $129,789 | $136,091 | $140,498 | $146,561 | $152,866 | $157,491 | $163,743 |
Long-term Liabilities | $0 | $1,861,111 | $1,852,222 | $1,843,333 | $1,834,444 | $1,825,555 | $1,816,666 | $1,807,777 | $1,798,888 | $1,789,999 | $1,781,110 | $1,772,221 | $1,763,332 |
Total Liabilities | $50,000 | $1,948,138 | $1,952,460 | $1,955,697 | $1,951,817 | $1,949,304 | $1,946,455 | $1,943,868 | $1,939,386 | $1,936,560 | $1,933,976 | $1,929,712 | $1,927,075 |
Paid-in Capital | $200,000 | $200,000 | $200,000 | $200,000 | $200,000 | $200,000 | $200,000 | $200,000 | $200,000 | $200,000 | $200,000 | $200,000 | $200,000 |
Retained Earnings | $151,833 | $226,833 | $226,833 | $226,833 | $226,833 | $226,833 | $226,833 | $226,833 | $226,833 | $226,833 | $226,833 | $226,833 | $226,833 |
Earnings | $75,000 | ($16,611) | ($31,077) | ($36,423) | ($37,689) | ($34,070) | ($26,042) | ($13,425) | $4,797 | $27,378 | $54,479 | $87,029 | $123,810 |
Total Capital | $426,833 | $410,222 | $395,756 | $390,410 | $389,144 | $392,763 | $400,791 | $413,408 | $431,631 | $454,212 | $481,313 | $513,862 | $550,643 |
Total Liabilities and Capital | $476,833 | $2,358,360 | $2,348,217 | $2,346,107 | $2,340,961 | $2,342,068 | $2,347,246 | $2,357,276 | $2,371,017 | $2,390,771 | $2,415,289 | $2,443,574 | $2,477,719 |
Net Worth | $426,833 | $410,222 | $395,756 | $390,410 | $389,144 | $392,763 | $400,791 | $413,408 | $431,631 | $454,212 | $481,313 | $513,862 | $550,643 |
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Template 05: Full-Service Catering Plan. Designed for established catering services and catering companies ready to expand, this template focuses on operational and pricing strategies, detailed menu planning, and advanced, marketing strategies and techniques.
Define the scale of your catering business in your plan for potential investors or partners. Sample Menu. As a caterer, you will likely find yourself crafting custom menus for your clients from a list of recipes you've developed and tested - showcase both sample event menus and a larger recipe list in your catering business plan.
Follow these tips to quickly develop a working business plan from this sample. 1. Don't worry about finding an exact match. We have over 550 sample business plan templates. So, make sure the plan is a close match, but don't get hung up on the details. Your business is unique and will differ from any example or template you come across.
Create your catering business plan using a pre-designed template encompassing the essential sections. This template will help structure your plan effectively. Ensure that your plan includes the following key components: Executive Summary for Restaurant: Provide an overview of your catering business and its objectives.
Funding Forecast. Start-up Summary. Income Statement (5-Year Projections) Balance Sheet (5-Year Projections) Cash Flow (5-Year Projections) Although your plan will keep changing as your business grows, here are a few key sections that would form the foundation of your business plan: 1. Executive summary.
Catering Business Plan. If you want to start a catering business or expand your current one, you need a business plan. Over the past 20+ years, we have helped over 5,000 entrepreneurs and business owners create business plans to start and grow their catering businesses.
Put your plan into action by making a timeline of your operations. Here is an example: Date Plan [Insert Date Here] - Finalize the business documents you need such as permits and registrations for your catering business. [Insert Date Here] - Start marketing your business on social media and the local news.
Development Plan. Our three-year development plan for the gluten-free catering service is designed to establish us as a leader in the industry. In the first year, we aim to build a strong reputation for our unique gluten-free menus and exceptional service, focusing on corporate events, weddings, and private parties.
How we will get there will be our business objectives which are: To create a service-based company whose primary goal is to exceed customer's expectations. To increase the number of client's served by 20% per year through superior service. To develop a sustainable start-up business.
Use this free Catering Business Plan Template to create a detailed roadmap for your catering venture, covering aspects like menu development, pricing strategies, and marketing approaches. It's a crucial resource to ensure your catering business is well-prepared for success in the competitive food service industry. .
Starting a catering business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.. 1. Develop A Catering Business Plan - The first step in starting a business is to create a detailed business plan for a catering business that outlines all aspects of the venture.
Download your free catering business plan sample to create a plan that will wow investors. And once you've started your business, use our free restaurant invoice template to start collecting payment from each event. Download Now. Use this sample catering business plan to outline the vision for your new catering company and share that vision ...
The key alternative caterers are: Of Grape & Grain, which specializes in deli style boxed lunches and cafe-style dining. This is the caterer currently used by Bright Future. Cravings Fine Foods, which specializes in event planning and cafe-style dining but which also offers deli style corporate boxed lunches.
A catering business plan properly developed using a template will save the business owner from making expensive mistakes and improve the opportunities for the business to be successful. Catering Business Plan Sample. Creating a catering business plan in Word allows for easy formatting and editing.
Sample from Growthink's Ultimate Catering Business Plan Template: The Marketing Plan describes the type of brand [Company Name] seeks to create and the Company's planned promotions and pricing strategies. The [Company Name] Brand. The [Company Name] brand will focus on the Company's unique value proposition: • Offering extensive menu ...
Below are links to each of the key sections of a sample business plan for a successful catering business. I. Executive Summary - The Executive Summary provides an overview of your business opportunity and summarizes the business plan. II. Company Overview - The company analysis includes information about your business concept, catering ...
A catering business plan example can be a great resource to draw upon when creating your own plan, making sure that all the key components are included in your document. The catering business plan sample below will give you an idea of what one should look like. It is not as comprehensive and successful in raising capital for your catering as ...
Threats to your business. Understand the catering industry better. As a result, you can create a strategic plan that will improve your business. 4. Discover New Opportunities. Another benefit of creating a catering business plan is discovering new opportunities to boost your business in ways you never imagined.
Writing a catering business plan is the first step to starting a catering business.A business plan makes it easy to map out your catering business ideas and see these ideas become a reality.. Key Takeaway - The catering business is about proper and adequate preparation. From planning a menu to preparing meals for social events, there are several things to prepare for and take into account.
If so, this guide will provide the tools and insights you need to write a comprehensive business plan for your catering company. This in-depth guide covers why you should write a business plan for your catering company; what information is necessary; what such plans typically include; and the best tools available for creating them.
2.4 Target of the Company. In this how to start a catering company sample business plans for catering companies we are enlisting the business targets set by Marlon Caterers. To reduce our customer acquisition cost by 20% by the end of five years. To keep our customer churn rate below 5% throughout our service years.
This is a very common training ground for many eventual caterers. By working as a personal chef, you not only hone your skills in the kitchen, but you can also develop a client base and begin networking, which will be very beneficial when you transition to catering. 4. Do your research and write your business plan.
Executive Summary. Sumptuous Cuisine Catering is a local catering company serving both business and private clients in Doeuvreville and the surrounding towns within a ten mile radius. Established in 2005, the business has operated a catering kitchen and specialized in full-service catering and event planning for upscale events in the region.