While emphasising that catering on its own was large and capital intensive, Imo-Owo stresses that it is a lucrative business. Nevertheless, one will need to devote some time and money on the business if one must succeed.
You need to devote some time if you want to compete or make headway, and you need much capital to get that. The equipment are expensive, some are imported while some are manufactured here.
So if you really want to play with the big players, you need to get all these things put together,�€ he states.
For those who may want to start on a small scale and make headway, he says that between N10,000 and N15,000 is be enough to invest on cooking utensils, like cookers or burners and a 13kg bottle of gas.
He adds that part of the benefits, outside being self employed, will offer one the opportunity to serve the public and create employment for others as he grows.
He says, At least you are on your own and you can feed yourself and your family, you can even extend jobs to others. It will get to a stage when one or two people are helping to alleviate unemployment.
As to the benefits accruable to his patrons, you go to fast foods, and the local food vendor, and one would see all manner of foods. Since individuals have different taste buds, one should try to meet it all.�€
As regards challenges, according to him, the electricity power generation is poor, to set up a business, you pay as much as N1.3m and some other equipment to get things done, and you keep fuelling every other day.
Spending so much and buying diesel is a major concern,�€ he says.
Imo-Owo, who also holds a Masters of Business Administration degree points out that the country�€™s financial institutions are not helping matters, as one will have to borrow at 23 per cent interest rate for expansion purposes.
However, he says catering is a profitable business and one may start with industrial, which does not require spending on equipment.
According to him, the company provides it for you and this gives you a leverage that helps for some time before you can now start on your own.
It is a business that needs determination, I must sound a warning. People believe that a good business is all about money, but the important thing is that you are serving the public. The money may not roll in so fast,�€ he adds.
- Culled From Punch
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