How to Determine Catering Prices

Many new caterers have unanswered questions about how much to charge for catering services. Properly estimating how much to charge for catering services essential to your business success, too low and you will not make enough profit to stay in business, too high and you will not get any clients because your services will be overpriced compared to your competitors. You want to set your catering services prices so that you are well compensated for your time but you do not want the price to be too high for the quality your client is receiving and the current market values. The key to setting correct and competitive prices for catering services is to consider everything. When billing your client you can use your actual catering costs or separately itemize a catering service charge on the catering invoice or catering receipt.
 
• First, you will need to research the competition in your local area, this includes other local catering business and restaurants within a certain mile radius.

• Second, you are going to need to meticulously calculate the actual cost it takes you to make each dish including the cost of food and spices.

• Next, calculate the cost of all catering related expenses that went into creating that dish. Here is an example of some things to consider; catering supplies, business expenses and underlying catering costs.

• In addition, you will need to estimate the amount of profit you want to make including the least possible amount you will accept for your time and expense to create each dish.

• Finally, after all things are considered and calculated, you can set your prices.

The Catering Business Guide includes complete step by step directions for properly calculating the actual cost it takes to make each dish, what expenses you need to factor into catering costs and the standard recommended charge for catering services.

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