That’s a rhetorical question. Who doesn’t want to make more money?
Here’s the best part. You already have all the resources you need; you only need to find a way to maximize their potential.
Not only does it offer financial benefits, but it also provides unparalleled control over costs, allowing you to pre-portion and plan meticulously. What’s more, catering allows for creative freedom, letting you craft unique menus that go beyond the boundaries of your restaurant’s cuisine.
Are you ready to unlock this extremely profitable and versatile side of your business?
Here is a list of different types of catering for you to think about to get things rolling:
It could also be on-premise catering inside your restaurant, where you have a separate area, like a banquet room or a private section for larger parties and a set menu.
Then there’s full-service catering where you’re setting up at the party, staying and working it, where you have bartenders, service staff, and valet at an off-premise location.
There’s even wholesale catering when you don’t own the facility, but you’re the only caterer allowed onto that property, or you’re on a list of caterers. This is what I call the Mt. Everest of making a profit in the food service industry.
If you want to add a High-Profit (50%) revenue stream, catering is your answer. It’s a highly profitable food business that you can build out of your restaurant with literally zero fixed costs or extra costs.
Where Do You Find Catering Clients?
Existing customers on your list want you to cater their birthday parties, anniversaries, holiday meals, wedding showers, funerals, and business lunches. It’s a goldmine waiting to be tapped.
Why Is Catering So Profitable?
With catering, you can control costs really well. You know exactly how many people you’re feeding, and when and what they’re eating. You can pre-portion everything out. You’re able to control food costs.
You’re able to control your costs much better than in your restaurant. You know how much staff to book and exactly what time and what the guests are eating. This eliminates variables in scheduling, buying, and prep.
And as a bonus, the staff you already employ want to make extra money so you can use your existing labor pool. You already know and trust these people because they work for you in your restaurant.
The profitability comes because you have tight control of your fixed costs. It’s much easier than opening the doors to your restaurant and hoping you’ll have enough to cover your expenses. With catering, you can also utilize your existing kitchen facilities during off hours and prep in advance. Fixed costs are minimal because you’re already
paying rent or mortgage, all the utilities, and insurance. Having your restaurant resources available and using them wisely makes catering a true highly-profitable business.
Your Catering Profit Faucet
Catering also allows for flexibility and creativity. Just because you have an Italian restaurant doesn’t mean you have to do Italian catering. You can create totally different catering menus from a very niche-specific restaurant.
Another benefit is that you can control when you take parties and when you don’t have the capacity for extra work. It’s like a faucet you turn on and off when you need extra cash flow.
Catering can be a game-changing solution for your independent restaurant. With the potential to significantly increase your revenue and streamline your costs, it’s a no-brainer.
Take advantage of the resources you already have and leverage them to their fullest potential.
I have a comprehensive resource for you if you’re interested in starting or expanding your catering business from your restaurant. I taught and recorded a Catering Masterclass with over 4 hours of video tutorials, recorded audio, and over 60 downloadable files packed with menus, brochures, marketing templates, contract examples, worksheets, and checklists. Everything you need to start or expand your restaurant’s highly profitable catering division.
And if you invest in our DFY Catering Masterclass program before 1-31-24, I will give you a $200 Credit because I want you to have this information to start the new year off right!
Catering for High Profit!
Known as “The Done For You Marketing Guy for Restaurants.” International Speaker on Restaurant Marketing. Published contributing author of 4 Marketing Books. Industry expert on Google Searches and Review Sites. Recovering Independent Restaurant Owner and Caterer of over 21 years. And, all-around good guy.