CATERING EQUIPMENT RENTAL BUSINESS PLAN SAMPLE
Merging two major industries which are the catering and the rental industry, the catering equipment industry is estimated at $5 billion dollars and there is still huge potential for continued growth as entrepreneurs interested in this field of business seek opportunities for investment.
The business plan is very vital to the survival of any worthy business venture, and the catering equipment hire business is no exception to this.
Do you need to write a catering equipment hire business plan?
This article aims at providing help to investors/entrepreneurs on how to write good plan, with this sample, it is expected that it would be used as a guide to aid in writing a unique business plan bearing all the necessary information of the entrepreneurs business concern.
Here is a business plan for starting a catering equipment hire service.
- Executive Summary
- Products and Services
- Our Vision
- Our Mission
- Market Analysis/Trends
- Target Market
- Competitive Advantage
- Sales and Marketing Strategy
- Sales Projection
- Publicity and Advert Strategy
- Payment Channels
Smith’s Catering Equipment Hire, located in Massachusetts, Boston will is a catering equipment hire company that will be making hiring our large collection of catering equipment to our clients which will include both private clients and commercial clients. Our catering equipment will be of the highest standards, and also, the location of our business will be strategic to ensure that it is easily accessible to all.
Our services will not only consist of hiring of equipment alone, as we will also be including interior decoration services to clients who might require such, and also ushering and waiting services. This business will be driven by a motivated and highly trained workforce.
Products and Services
Apart from the catering equipment which we will be hiring, we will also provide services that include the provision of ushering services at events such as wedding, meetings, dinners and other corporate events needing our services.
Other services include the sale of catering accessories, training for interested individuals and organizations, and the offer of sound advice on catering related events.
Our Vision at Smith’s Catering Equipment Hire is to provide premium service to our teeming clients while ensuring that they are thoroughly satisfied with services rendered. Within our first 5 years of commencement of business, we intend to grow into a one-stop shop for all catering related equipment hire and advice.
Smith’s Catering Equipment hire has a mission of effectively capturing the catering market share in Massachusetts through the introduction of innovative services that will gain client trust and encourage loyalty.
The catering business has metamorphosed from its formerly crude nature to its present state where it is driven by innovations in equipment quality, the array of related services among others. Occasions are never in short supply, but there are some times of the year which are more active than others in demand for catering services.
Smith’s Catering Equipment Hire will be busy all through the year, as we will be providing hire services during peak periods and trainings and other advisory services during off peak periods.
Our target market will be including a wide variety of market segments which will include corporate clients, wedding and general event planners, provision of our services to celebrities, hotels, holiday inns, restaurants, guest houses, holiday resorts, among a long list of our target market who will be requiring our services and expertise.
The advantage we have over our competitors is the drive for excellence in service delivery, thus, we will be making use of only the best equipment available in the industry to create a brand name hinged on excellence for ourselves.
Our workforce will be adequately motivated through the introduction of attractive remuneration packages that will enable them to rededicate their efforts to ensuring that we achieve maximum growth. We will hire the services of a catering equipment hire business strategist to drive our vision of being among the best within the shortest possible time.
Sales and Marketing Strategy
The sales and marketing strategy to be adopted by us will be all encompassing, as we will be deploying marketing experts to market our products and services to potential clients, with the sole aim of attracting clients from far and wide.
We will also be relying on word of mouth marketing which we will be encouraging our satisfied clients to do on our behalf. This option will see clients telling their friends and associates about the services we offer.
With research conducted, we have projected a steady rise in profits that will be accruable to our catering equipment hire business within the first 3 years of commencing business operations. However, factors like natural disasters, economic recession, and conflicts have been discounted. Below is a brief summary of the sales projection representation;
- First Year $270,000
- Second Year $510,000
- Third Year $980,000
Publicity and Advert Strategy
The publicity and advert strategy to be used by Smith’s Catering Equipment Hire will be broad based. We will be deploying the local TV and radio option by placing adverts in these channels to publicize our services to a wide segment of society.
Another strategy is the building of our business website that will showcase all the product and services on offer, plus, we will be mounting billboards in areas with high traffic to ensure that awareness regarding our services is widely spread.
The payment channels will be diverse to capture all payment options available in order to eliminate the difficulties experienced by clients when trying to pay for services. Among these options are the acceptance of POS payments, cash receipts, mobile money transfers, among several other payment options that exists.
This is a catering equipment hire business plan sample with the necessary contents and guidelines provided. This is only for guidance purposes only, as they are only imaginary.
The entrepreneur is therefore expected to brainstorm on what is true for his/her business and provide such information using this catering equipment hire business plan sample as a guideline.