Blowing Up My Catering Business – How I Quadrupled My Revenue
I was frustrated that as a professional caterer of more than five years that I was still struggling to make a decent profit. It seemed that no matter what I did, I could not acquire enough new business to make a dent in my annual revenues. Although I did a reasonable number of large events, which got me by, my challenge was finding new clients that would give me a steady flow of revenue. The peaks and valleys were nerve racking; especially as I never knew when the next event was coming our way. The unpredictability of revenues was most stressful for me.
Stuck in a rut, I could not see the forest from the trees. To make matters worse, I was helpless in fixing the problem. A colleague suggested that I employ the services of a marketing consultant. At first I thought…no way. But after pondering the idea further, I decided I had nothing to lose in at least talking with a few. It turned out to be the best decision I ever made. After a couple of meetings, I hired the marketing consultant that I felt best about. Within no time, we had a new strategy; implemented it; and my catering business started growing quickly. What a great feeling after years of struggling just to get by.
The consultant quickly identified revenue possibilities that I was overlooking. The segment which proved to be most lucrative and quickest to grow was corporate catering. I learned that corporations need coverage for a large array of events. They include breakfasts, lunches, dinners, meetings, parties (of all types), and picnics. I discovered that depending upon the client’s needs, some events are manned while others are just a drop-off, set-up, and leave. Regardless of the event type or staffing requirements, the corporate market was relatively easy to penetrate…that is once I had the right tools.
Marketing My Unique Services
I guess up to this point, I had fallen into the trap of believing that all you had to do was… “build-it and they will come.” I don’t know where I or other business owners ever got this notion; but, nothing could be further from the truth. I guess maybe if you are opening a national chain store or franchise it might hold true.