Catering is a booming business, and for good reason. Not only is it a great way to make money, but it’s also a lot of fun. If you’re thinking about starting your own catering business, you’ll need to know how profitable you can expect it to be. In this article, we’ll give you some tips on how to make your catering business as profitable as possible.
How Much Do Caterers Make Per Event?
The average caterer makes between $500 and $1,000 per event. However, a few things can affect how much money you make. For example, the size of the event will have a big impact on your earnings. A small event might only bring in a few hundred dollars, while a large event could bring in several thousand.
Average Catering Cost Per Person
The cost of food and drink is usually the biggest expense for a catering business. The average cost of food and drink per person is $16-$20. This can vary depending on the type of event and the menu you offer, but it’s a good rule of thumb to budget $16-$20 per person.
Earnings Per Event Type
Weddings
The average wedding catering budget is $4,000-$7,000. This means that you could potentially make $1,000-$3,500 profit per wedding.
Corporate Events
The average corporate event catering budget is $500-$5,000. This means that you could potentially make $100-$2,500 profit per event.
Private Parties
The average private party catering budget is $1,000-$3,000. This means that you could potentially make $200-$1,500 profit per event.
Tips for Increasing Your Profits
You can do a few things to increase your profits and make your catering business even more successful.
- Offer discounts for large events.
- Offer a variety of menu options to appeal to different budgets.
- Upsell customers on additional services, such as rental equipment or decorations.
- Use social media to promote your business and attract new customers.
- Make sure your pricing is competitive.
Conclusion
A catering business can be extremely profitable. The average caterer makes between $500 and $1,000 per event, but there is potential to make much more. If you’re thinking about starting a catering business, keep these tips in mind to maximize your earnings.