Question

What types of information does a catering business need?

Answer 1

Catering business is a company whose primary function is to prepare and provide food at different venues. These businesses may provide food and beverages for a variety of events like parties, social events, corporate events, weddings, etc. Catering business serve to many locations like hotel, pub, aircraft, hospital, park, offices, etc. Catering businesses require a plethora of information to operate their business. The following information needs are crucial to any catering business:-

1.Type of clients in the market

Every catering business needs information on the type of client it wants to serve to. Small businesses may choose to serve at local social events which are easily accessible. While large caterers can opt to expand their business to serve high demand clients like corporates, hospitals, weddings, etc. Thus information about clients is extremely necessary for identification of target market.

2.Demand in the market

Catering businesses needs to know about the market demand. Various factors which influence demand like upcoming festivals, time of the year, occassions which are celebrated by clients, etc. should be known.

3.Permits and Licenses

There are various permits and licenseswhich need to be granted before a catering business can operate, depending on the area of operation. Information is required regarding food services, certifications, business permit, alcohol license, etc.

4.Suppliers in the market

Catering businesses need raw materials in order to prepare food. It is extremely important to know about tthe suppliers of raw materials in the market. It helps in deciding which suppliers should it choose for its requirements.

5.Marketing information

In order to promote and grow a business, marketing plays a crucial role. For a catering business also, marketing is very essential to grow the business. Markeing can be inhouse or outsourced. In case of outsourcing, the business needs information about marketing companies in and around which can provide their facilities to make tthe business more visible and promote it too.

6.Investors

Catering businesses may need funding to operate efficiently or expand their business. Information about investors who can provide capital to their business is therefore very important.

7.Trend in the market

Catering businesses need to be aware of any new trend in the market which are attracting consumers. They may adopt those trends and improve their customer base.

8. Competitors

Information about competitors and their offerings is also required. This will give an insight of the catering market and where the business stands.