The scope of catering services in India is humungous given the fact that the country celebrates numerous festivals and occasions in the form of important events. The industry is now extending its reach beyond marriages to include social gatherings, formal events, conferences, parties, sporting events, etc.
Over the last decade, the catering industry in India has rapidly evolved and has become central to any large social and outdoor gathering. Functions that were earlier handled by families are now being increasingly outsourced to catering units, which often result in better arrangements and an opportunity for the family to enjoy the event. Considering the significance of social celebrations and events, the catering business is a rewarding option with a huge potential of growth.
Valued at Rs. 20,000 crore, the catering industry is one of the fastest growing sectors that has seen a surge in demand across the country. Mostly dominated by unorganized players, many of who run their business from the comfort of their homes and small establishments, the catering industry in India has maintained a 20-25 per cent growth rate year-on-year. This includes small-scale vendors along with local and national level players.
The growth in the industry can be attributed to the fact that catering services start-up costs are considerably lower and real estate doesn’t have to be in a prime location. One can work out of location that is further away but yet service the entire city. A lot of caterers are empanelled with banqueting venues, which offer them commissions. Banks and joint venture partners are also recognising the potential of this business and are willing to offer an extended hand for establishing the business and also for its expansion.
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