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A women-owned company has the potential to be unique and life-changing for the community it’s in, regardless of the type of business. Starting your own catering business is a great idea to showcase your cooking, recipes, and hospitality. To ensure your company takes off, understand how you can use the loan you received for your business in the best ways possible to get your name on the board.
Hire Employees
You may not need a ton of employees to begin your company, but hire a few to help you get on your feet—especially if you’re taking the brunt of the labor and planning. This loan will allow you to pay for background checks, training, uniforms, etc. Start building a team of like-minded individuals to ensure the success of your business.
Purchase Transportation
Chances are, you won’t be hosting every catering event in your own commercial space. Investing in reliable transportation services or owning a company vehicle will take the stress off of traveling to and from events with food. Having a truck of your own will save you money in transportation costs that you can invest elsewhere in your business.
Inventory and Equipment
One of the smartest ways to use the loan for your catering business is by stocking up on supplies and equipment. Every woman knows that in order to prepare an elegant meal, you’ll need the proper tools to do so. Use the money to invest in quality equipment that will last you many years to come; this way, you can get the most bang for your buck.
Marketing Plans
Word of mouth may work in smaller communities, but if you are in a larger area, you will need a marketing plan to get your business name out there. Invest a portion of the money into a marketing strategy that will allow you to gain more traffic and interest in your company. If you’re still building your skill set, consider hiring a marketing team so that you can learn new techniques from them until you eventually won’t need their expertise or guidance.
If you’re unsure of how to go about a specific aspect of your business, there are countless other women who can give a helping hand because we’re in this together. What will you do with the loan for your catering company?
