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Procurement Market Intelligence Report

Catering Services
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Catering Services?

What is the average price of Catering Services?

This procurement report includes pricing information to help you purchase Catering Services. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.

Has the price of Catering Services been rising or falling?

Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.

I’m not ready to purchase Catering Services yet. Will I pay more if I wait too long?

We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.

What other costs are associated with purchasing Catering Services?

Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Catering Services with a reduced risk of unexpected costs.

See how we display average pricing information, trends and market data.

Find the vendor to meet your needs

Where can I purchase ?

Although several large food service management companies provide catering services, the top four suppliers account for less than 10.0% of total market revenue, indicating low market share concentration. About 14,000 suppliers operate in this market, the majority of which are small companies that provide services on a local or regional... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Food Supply

How do you balance high-quality produce and meat and reasonable prices?

How diversified is your supplier base for inputs? Do you source from foreign vendors?

How have droughts, shortages, pandemic-related disruptions or other supply issues affected your operations?

Do you have relationships with food suppliers that can provide discounts and consistent quality?

Do you carry extra inventory in case more food is needed at an event? Will clients be charged if extra food ends up not being served?

Food Safety

What types of training programs do you participate in to ensure food safety?

Do you have any third-party certifications beyond what is required by regulation?

Have you been marked for any health code violations in the past? How quickly did you remedy any violations?

Do you conduct or receive inspections beyond what government authorities require?

What sanitation practices are used to prevent the spread of the coronavirus in your operations?

Environmental Awareness

How do you minimize your waste production?

What types of reusing and recycling practices do you have in place?

Do you source your ingredients from sustainable, local, organic, natural or otherwise environmentally friendly producers?

What other environmentally friendly methods do you use?

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Key elements for every RFP

What should my RFP include?

Project Budget

Buyers should specify their catering budget.

Buyers should outline payment schedules.

Buyers can reference the Benchmark Price and Total Cost of Ownership sections of this report for assistance in creating a budget.

Selection Criteria

Buyers should evaluate suppliers based on the quality of their menu.

Buyers should evaluate suppliers based on their relevant experience.

Buyers should evaluate suppliers based on their health and safety measures.

Buyers should ensure that suppliers are financially stable.

Buyers should request references.

For detailed selection criteria requirements, buyers should reference the Buying-Decision Scorecard section of this report.

Project Schedule

Buyers should outline the length of the contract and cancellation policy, if applicable.

Buyers should indicate the date by which proposals must be submitted.

Buyers should communicate to prospective suppliers when bid awards will be posted.

Buyers should indicate the times at which food setup can begin.

Buyers should indicate the times at which food must be served.

Buyers should indicate the estimated cleanup time after the event(s) conclude.

Evaluate major factors to mitigate risk

How risky is the supply chain?

Supply chain risk in the catering services market is moderate. The primary first and second tier suppliers for catering service providers are food and beverage suppliers. Because external factors such as weather affect food producers, upstream suppliers present a moderate level of risk to caterers. Namely, the prices of meat,... Subscribe to learn more.