According to several financial analyses published over the past 12 months, the competition within the United Kingdom’s food service sector has reached a fever pitch and it is now more difficult than ever to establish a successful bistro, diner, or café.
However, even though restaurants and alternative eateries are cannibalising each other at an unprecedented rate, it’s important to note that the catering niche is set to enter a golden age of sorts, which is why we’ve decided to hone in on the facts and figures that you need to know about contemporary catering firms.
Explaining the Recent Upturn in the Catering Sector
As the level of discretionary spending continues to increase throughout the UK, our nation’s catering companies, both big and small, have been the chief beneficiaries during the past several years:
- Although the catering niche represents a relatively small slice of the food service industry as a whole, it is growing at a rapid rate of 5% per annum, which means that it has been consistently outperforming all other subdivisions.
- By contrast, the top 100 restaurant groups in the UK have seen a harrowing 64% decrease in their month-to-month profits over the last year.
- There isn’t a single catering brand that holds a double-digit market share within the United Kingdom, which implies that the playing field is very fair and open to competition.
- The barriers to entry are also markedly low as well: the average proprietor dedicates only 9p of overhead for every €1.00 of labour cost, which is a far cry from the comparative fortune that restaurateurs have to fork over.
- Corporate expansion has been a driving force for domestic catering firms as evidenced by the fact that four in every ten catering managers report that corporate clients have been the primary reason for their recent increase in profits.
Nevertheless, there is one particular drawback to address.
Nearly 54% of today’s catering companies have to rent kitchen space to tend to their clients but upwards of 80% of bookings are facilitated in some off-site location, which is why the number-one issue for managers is always the quality and reliability of their cooking and serving equipment.
Thus, if you’d like to ensure long-term sustainability and encourage repeat clients throughout the year, the onus is on you to establish a tight-knit relationship with a reputable provider of wholesale catering supplies.
Skip the Research and Go Straight to the Source
Instead of spending your time shopping through retail stores or trade shows for the best-rated culinary appliances, you should take some time out of your day to visit the website of a time-tested, resourceful catering equipment wholesaler.
Whether you’d like to upgrade your assortment of bar supplies or obtain an energy-efficient fish and chip fryer, the most esteemed suppliers can put forth a vast selection of brand-name products, utensils, and appliances, all of which are priced at economical rates.
All it takes is a few clicks of your mouse to enhance the versatility of your catering business so be sure to place your first order sooner rather than later. You’ll be glad you did.