Need information regarding financing comapanies or banks for starting my own catering business?

I am a Hotel management graduate. I want to start my own catering company. My target market will be corporate offices where employes get one time meal. The capital required for such business is something around 1.5 lakh. I dont have this amount but I am quite positive about the success and high growth speed of this business. I am right now working as a recruiter US-US and earning 35k per month. I, even if fail, will be able to return the amount easily.

I have allready designed and planed the rough figure of this company.

I think, that just as a hotel management graduate you simply don't have enough practical experience for running your own catering company. Have you ever worked as a bar/pub/restaurant manager? (Not only as a waiter or chef, there, but as a manager.) Especially, work with food has its own characteristics and demands, which are not so easy and cheap to provide.
But, if you still plan to 'make it on your own' in catering do a real market research about:
- your real market
- your competition
- real selling prices
- costs

Make a real business plan with an expert help.
You will spend some time (at least a few weeks), if you really want to make a good and useful plan for the real market, truly based on extensive market research. At the end, you will know much more about your future business, than now and you will also know, if your idea is viable or not.

Read about how to start a new business. You can find all information you need on-line. Seek free start-up business advice, which is available almost anywhere, but in different forms. Ask many questions, don't be shy.

Banks have often very nice programs for business start-ups and you are going to be surprised, how very helpful and knowledgeable they are.

If your answer, after finished business plan, is still positive, speak to your bank manager or go to any meeting of venture capitalists to pitch your idea/project.



P.S.
I strongly advise you to save as much of your own money as possible and to achieve good personal credit record, as well. Get more practical experience in running a real restaurant/kitchen (it could also be voluntarily in the evenings and weekends, because it is fresh real knowledge you probably lack).

P.P.S.
I wrote from British perspective, but it is quite similar in other countries, as well.
Do check how much knowledge and help these banks really offer to any new start-up business. It is worthwile.

Good luck!

Building your company DNB Paydex Score is a very important step that most business owner miss out. At our office we see small business owner obtain $35,000 and more in business credit lines through the use of their Paydex Score (typically 75 and higher). A business can grow the Paydex Score and obtain credit lines along the way simply by hiring a professional mentoring service.

Begin your search online via google or yahoo. Search for "strong business credit" (just like that in quotes) through the search engines and you will see that the Trade Line List (otherwise known as a Vendor List) is available for $400-$900.



Good luck.



Ilya Bodner
Small Business Owner
Initial Underwriting Group