The Philadelphia kosher catering market is an interesting one. Recently they have discovered they really like and need kosher food. It’s healthy its organic and its a "clean" way to eat. It helps keep people healthy. People are in need of really good food.
Fressen will occupy a niche in the kosher catering market that offers new, creative menu items, broadening people’s conception of kosher food. This market consists of two target segments that are differentiated by household income.
The kosher catering business in Philadelphia is fairly unique. At the low- to mid-price point of the cost spectrum, there are four other kosher caters. These caterers tend to serve the part of the market that must have kosher food served at an occasion due to religious beliefs, but struggle to able to afford the cost variance between standard and kosher catering. All four of these caters have fairly standard menu offerings. There is a fifth caterer that also serves the lower end of the market (defined as middle class) but serves the high end of the market as well. Although there is a large wealthy population in Philadelphia that follows the laws of kashrut, they have been underserved.
Fressen Catering’s competitive edge is its attention to servicing customers and inventive approach to kosher cuisine. Fressen’s customer attention differentiates them in the world of kosher catering which is dominated by several companies that have plenty of demand. The consequence of market demand is a decreased pressure to accommodate customers. Fressen is approaching the market as if there was significant competition between the different service providers. By making customer satisfaction a priority, over time, local customers will come to appreciate the attention that their needs are given and form a long lasting relationship with Fressen Catering.
Fressen Catering’s mission is to provide the customer with the finest kosher catering. We exist to attract and maintain customers. When we adhere to this maxim, everything else will fall into place. Our services will exceed the expectations of our customers.
Fressen Catering is forecasted to make a profit by year 3. It will be up and running and well-staffed and able to sustain employees and Susan. By year 4 Susan will be able to repay the loan of 90,000 back to friends and family
Financial Highlights by Year
This business needs $130,000. Susan will put in $40,000 and friends and family will kick in $90,000.