If you’re new to catering, you might think that all you need to succeed is a delicious menu, beautiful event design, and strong planning skills. If you’ve got those, the rest will take care of itself, right?
The reality is that catering is a business like any other. No matter how good your food tastes, your success or failure is going to come down to numbers. And not just revenue and profit either. By the time you’re calculating those, it’s too late -- the events are over, the money is in the bank, and there is nothing you can do to make up for executing an unprofitable event.
But there are other numbers you can track in real time that show you the health of your business and reveal the improvements you can make to increase your bottom line. In this post, I’m going to outline twelve metrics every caterer needs to track across three distinct business categories, with some advice sprinkled in on how to get them trending in the right direction.