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Establishing the Right Kind of Catering for You

Establishing the Right Kind of Catering for You. Chapter 3. The Catering Market. The catering market is a group of customers: In same geographic service area With unmet catering needs and wants Caterer must carve the market into niches. Group customers with similar needs.

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Establishing the Right Kind of Catering for You

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  1. Establishing the Right Kind of Catering for You Chapter 3

  2. The Catering Market • The catering market is a group of customers: • In same geographic service area • With unmet catering needs and wants • Caterer must carve the market into niches. • Group customers with similar needs. • Understand own strengths and market’s opportunities

  3. Who is the Caterer? • Analyze capabilities as a caterer. • How to can satisfy customers • Specialize in on- or off-premise catering? • Corporate accounts or social market?

  4. Mission Statement or Purpose • Identifies who the caterer is • Why you’re in business • What you plan to become • What you can do for potential customers • Relation to competition • Guides the decision-making process • Type of business, including current customers • Types of catering functions • Where the events will be executed • How to solve the current needs of present customers

  5. Importance of the Mission Statement • Reflects the company’s culture • Guides the employees • Contains the core beliefs, values and history • Separates a business from its competition • Communicates differences and expertise • Helps to exceed the competition

  6. Growing the Business • Professional growth • Controlled growth is a management quandary. • Create a strategic growth plan. • Strategic Vision • Create a long-term vision. • Project growth over the next ten years. • SWOT analysis • Internal strengths and weaknesses • External opportunities and threats

  7. Strengths • Internal attributes, skills or assets that signify exceptional competitiveness in the market • Tactile, defensible positions for the caterer to uses as an offensive or defensive weapon • Make it difficult for other caterers to compete

  8. Weaknesses • Internal areas that can limit a caterer’s ability to compete successfully in the industry • Tasks the caterer does not execute well • Tasks the caterer does deficiently • Lack of: • Physical endurance and stamina • Culinary, technical or management skills • Specialized knowledge or equipment

  9. Opportunities • External, controllable future events that best match the caterers’ competitive strengths • Potential, profitable growth zones • “Build a positive reputation.” • Opportunities include: • Potential economic growth • Recognition of sustainable trends • Ownership of professional production equipment

  10. Threats • External elements which can cause a potential loss for a caterer • Threats include: • Government regulation • Changes in interest rates • Decrease in the demographics of the area • Entry of new competitors • Lack of certain skills and abilities

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