Have you recently started a new catering company? Would you like to limit your spending to ensure you don’t run out of cash? Then you’ve come to the right place. The ideas in this article should help to keep as much money in the bank as possible. You probably opted to get a business loan during the startup stage. It would be silly to waste that money when there are alternative techniques. Today, you’ll learn everything you need to know.
Buy all your equipment wholesale
There is no getting away from the fact that you are going to need a lot of equipment. You can buy large items like cookers outright. However, you might benefit from leasing certain other products. When it comes to dealing with linen and other tableware, you need to contact specialists. Buying wholesale catering tablecloths should allow you to save around 40% of the retail price. That money could be better spent on marketing and finding new clients. Shop around to ensure you always get the best deals, no matter what equipment you require.
Purchase food from the same supplier
Alongside the equipment, you’re also going to need a lot of food. It’s always sensible to get quotes from multiple suppliers before signing on the dotted line. Ideally, you want to choose a company that can meet all your requirements. You need a brand that stocks all the food you will use, and can deliver the products quickly. Buying from the same company should mean you make lots of savings. As you grow and order more items, you will find yourself in a strong position. Negotiate better deals when the size of your orders increases. At the end of the day, you can switch suppliers if you find a better deal elsewhere.
Advertise for free online
You’ll always get better results if you pay for advertising. However, there are lots of free ideas you could use to promote your company online. It doesn’t cost anything to launch social media pages that represent your brand. Likewise, building a mailing list is simple with the right plugins on your website. Get savvy, and think outside of the box. Perhaps you could create a PR stunt that would get lots of attention? Burger King is all over the news at the moment thanks to their black burger. You should come up with something similar to encourage the press and bloggers to mention your company.
Offer zero-hour contracts
Zero-hour contracts are not good for your employees. However, they offer many benefits for your business. You have to remember that spending too much cash could result in serious problems. So, offering people full-time wages is not a good idea until your company is stable. Zero-hour contracts will mean you can call on workers whenever you need their assistance. Even so, you won’t have to pay them a wage if there isn’t enough work.
Those tips should be enough to help you keep costs to a minimum. When all’s said and done, catering companies can grow very quickly. That means you might not have to use those techniques for more than a couple of months. Whatever happens, I hope your new business idea becomes very successful. You’re on the right track, but now you need lots of bookings. Good luck with that!