As we get retired, there comes a time when we often realize that it’s high time now and we should be focusing on digging deep in our souls, explore hobbies to look for something more productive or enjoyable in our life. This is because it pretty monotonous that we are just following the same old routine which is eating, sleep, and repeat. Most of us even tend to get highly demotivated when we are spending our days idle, doing nothing. Especially for those who were real workaholics prior to their retirement, the retired life gets pretty challenging to spend day by day. So dear all fellow retires, if you are demotivated and feel that your days are going unproductive, then don’t you worry! This is because I will share my experience on how I started my journey of starting a catering business.
But before we get into the details of how to start a catering business from home on retirement, you need to make sure that you utilize your skills and start any small business from home. That is how I started by home catering business. It all started from making desserts and different cuisines for different family parties. Gradually this trend became business and now it is easy for me to manage my business among the intense competition. Surprisingly, starting your own business by utilizing your skills is not really difficult. You just need to invest some time and start using your basic entrepreneurial skills. Let me elaborate some steps on how to start a catering business from home on retirement.
Basic Steps to Start a Home Catering Business:
There are certain basic steps to start a catering business from home on retirement. Make sure you follow these steps and search about the entrepreneurial tips to grow your business efficiently.
1. Research, Research and Research:
There is no doubt on the fact that research is definitely required whenever you start something new. You need to have some idea and knowledge on how things work in the market. Since I started a home catering business that is why the first step that I focused on was to research about the already existing catering companies. This gave me an idea on how should I set the menu, how should I plan the pricing and understand that how to provide incredible customer services. This helped me set the menu according to my skills and encouraged me to learn new skills to come up to the level of the competitors. Even if you talk generally, market research is always required whenever you start a business.
2. Know Who Your Potential Customers Are:
It is quite obvious that no matter what product you launch, you should know who your potential customers are. Well, this is definitely one of the initial steps of how to start a catering business from home on retirement for me. I contacted my peers, relatives and spreader the work among my social circle about my new business. You just need to spread the awareness among the customers and give them an idea about your existence. As I discussed above as well, it all started from my peers and gradually taking orders for family events.
The reason why I am sharing this experience is because it helped me reach to more people. Naturally, recommendations do impact the buying decision, and that is what happened with me. The positive word of mouth spreads like a fire and it helped me take new orders and interact with new customers. After you earn, you can invest in some sort of advertising of your business, but that’s more of my way, traditional way.
3. Start Planning the Niche that You Want to Offer to:
Now that all the researches have been made and the customer potential is known, the third step of how to start a catering business from home on retirement is to plan the niche that you want to offer your services to. This gave an idea to me that from where I should start my business and what exactly should I offer. It also helped me clear out the type of catering that I should offer to my target audience and what exactly my target audience is expecting from my business e.g. cook or bake, herbs making, pickles, sups, or sandwiches, maybe cakes… To be exact, I got to follow the most effective way to grow my business, I started with asian fusion soups, I only started with 1 type and have grown to many now.
4. Work on Some Calculations:
The most important step of how to start a catering business from home on retirement is to make sure that you are doing your part of the calculations. For this, you need to know the basics of setting up a small business and how to do calculations accordingly. Doing some calculations will give you an idea about what are your expenses and your overall budget that you need to grow and work within. So, calculate the cost of goods, your time, electricity, gas, water anything that costs, delivery, potential wastage, put this together, total up and make an average price for your product. Once this done find your customers and check if they buy for this price before starting or making anything.
These are some of the basic steps that I focused on how to start a catering business from home on retirement. Make sure to keep these points in mind and do not forget to get your business registered and insured, the administration part is of course important, but the above points must happen before anything gets registered.
If you need further inspiration on some home-based business ideas, take our JOBS MATCH program and we will inspire you of what to do and how much you can earn.