Sir. M. Visvesvaraya Institute Of Management Studies & Research

Report On Entrepreneur

Presented By

Ankita A. BhosaleMMS 1st YearRoll No. 4005

Acknowledgment

I would like to express my special thanks to my teacher Mr. KiranYadav as well as our Director Dr. Manjunath who gave me the golden opportunity to do this wonderful project on the Entrepreneur. Which also helped me in doing a lot of Research and I came to know about so many new things I am really thankful to them.I would like to express my thanks to the people who have helped & supported me throughout my project. Secondly my parents and friends who helped me a lot in finishing this project within the limited time.

A special thanks to the person Mr. Santosh Naik who given such a precious time for interview & he exchanged his interesting ideas, thoughts & made this project easy and accurate. I am making this project not only for marks but to also increase my knowledge.

Yours Thankfully,Ankita Bhosale

Mauli CatersEntrepreneur :Santosh NaikAge :34 yrs. Birth: 6th January 1979Add: DairyRoad,Saidham Building, Kurla, Mumbai – 400 022.

Santosh Naik

Family Background

Mr. Shyamrao Naik came from Ratnagiri with his family to earn money. Before that in Ratnagiri he has done farming and his wife also helps him in his work. But the money earn by farming is not enough for entire family. Then he decided to shift with his family in Mumbai. He started working with some small companies but then to he was not satisfied in what he earns. Same as he works in two-three companies but not earn as per his expectation. Later on he thought of his own Business which is the only way to earn as per expectation and also can fulfill families’ needs and wants. Mr. Shyamrao Naik started his business with catering. After that Mr. Shyamrao Naik ask his son Mr. Shantaram Naik to continue with his business. Mr. Shantaram Naik only 7th pass. After his father he run the business very effectively and also expanded. He haveone son Mr. Santosh Naik done B.com and join Air India.

Mr. Shantaram Naik wants his sons to join his business and to continue with it. Mr. Santosh Naik share very important thought with me which he will never forget, said by his father, “ while working with any service industry or any company you cannot earn more than Rs.25,000 or you may earn Rs.30,000 but not more than that, you always have to think in circle of limitation. You will not go beyond that circle, then how u will survive and what you will give to your children?” And this thought inspires Mr. Santosh Naik to join this business. And his father also gave whole responsibility of business to Mr. Santosh Naik.

Family Members

Mr. Shyamrao Naik and his wife Anjanabai Naik. (Great Grand Parents)Mr. Shantaram Naik and his Wife Yashodhabai Naik. (Grand Parents)

Mr. Santosh Naik and his wife Sunita Naik.One Children Gargi Naik(8years)

Catering wedding events and offering a wide range of menu options, including brunch, hors d'oeuvres, cocktail receptions, multiple courses and dessert.Advantages: Start part-time while building business, expertise and a supply of equipment. It's a creative, fun and challenging job and can be home based.Challenges: It's imperative to be on time and well-organized, accommodating clients' needs while meeting the challenge of cooking in unfamiliar territory on an ongoing basis. It requires a high degree of culinary expertise as well as a tolerance for working long hours.

The Market

Clients seek a professional caterer for any number of wedding-related events, such as bridal showers, rehearsal dinners, wedding receptions and farewell brunches.

What You'll Need to Get Started?

A business licenseand a health department-approved facility are all that's needed to get started. All equipment can be rented from party equipment rental companies.To get attention:

Attract business though ads in your local Yellow Pages, in the society or wedding section of your local paper and in special bridal supplements. Maintain a wedding-related or food blog and participate in popular wedding blog forums such as Wedding Beeand The Knot Establish a relationship with local wedding-oriented vendors--florists, bridal shops, photographers, videographers, hotels and country clubs, bakeries and cake decorators, jewelers and musicians.

Leave brochures with all contacts and ask for referrals. Strive for a spot on the preferred vendor list at venues. Do this by being

courteous, communicative, on time and respectful of the event property.

What would you recommend people do first if they're interested in wedding catering?

 I think catering in general and wedding catering in particular are such stressful jobs that, besides the passion to provide great food, you have to have the passion to work long, difficult hours.First, begin at the bottom of the industry and learn what it's like to wash the dishes, load the trucks, set up scullery, scrape plates, etc.--truly invaluable time to appreciate what's involved prior to the glamour of the event night.

Then begin to work on pull sheets so you understand the importance of organization and definitely think "measure twice, cut once" as your mantra. Essentially, each full-service event is setting up and breaking down a restaurant in as few as 24 hours. You learn by mistakes--one run to the store for a spatula five minutes before your bride cuts the cake is generally all it takes. There are very few businesses that have as much pressure to perform on time as a wedding caterer. You have to be very type A to succeed at a high level.

Understanding the clients' needs and whims, while still ensuring that what they ask is doable and reflects well on your business, is another skill set that needs practice and attention. When you're as boutique and personal with clients as we are, it's important to have different personalities at the table with the client and be able to wade through the different personalities each client brings. Many companies hire salespeople.

Finally, I would suggest that you work at least a year of events to make sure you can handle the workload and stress to be in this industry. It is a joyful, rewarding profession, but one with an amazing amount of pressure to perform beautifully and on time.

Do you think now is a good time to start a wedding catering business?

 I think this is the most difficult time to start a business in the expendable income arena. Caterers with many, many years of experience and clients are dropping by the wayside. Clients are going to the companies they know and trust can provide the services. Clients are looking for comfort and perceived value for all aspects of the industry. Breaking in now without a client base would be difficult at best.

What kind of person does it take to do what you do?

 Type A, passionate, aggressive, jovial; a leader [with] willingness to do the lowest to the highest jobs on the totem pole. Sometimes I'm the fastest prep cook we have and I'm chopping vegetables. So back to the beginning, you gotta be a bit of everything to do what we do. You can hire people for each segment of the business, but I feel you lose something in that translation.

What kind of training and background are necessary?

I think I would not have attempted this business without years of practice and learning from someone else's expertise. You get a base from the hands-on work and then can change that to your own style. Minimally, a years of cooking and understanding food costs, preparations, etc., and someone with the same in-front-of-the-house hospitality are needed. Luckily Chris and I do both well, and it's helped us to succeed. But we have more than 50 years of catering experience under our belts. So training and background are great but hard work, mistakes, successes, fights and make-ups are just as important . . . So in short, experience is the best background, for sure.

OFFICE PHOTO

GODOWN PHOTO

How did you establish your fees?

 I established my fees on what the market and my pocketbook could bear. As I travel to other markets, I carry the same basic pricing structure and adjust the service end of things. Certain areas demand certain services; I price my food the same and adjust the service needs accordingly.

What are your closing words of advice to would-be wedding caterers?

 Try it; you may like it!We love what we do--we can't imagine another path to take. It is the most rewarding business when done well. The joy you bring to the client and guests gets you through the most difficult of days.

Be prepared for long hours, lots of stress, and [very seldom getting a] good night's sleep. Also be prepared for an amazing list of new friends and lifelong memories that you don't get from sitting at a desk.

Mr. Santosh Naik (Qualities)

Self employed person. He lives on his own way. Very helpful person. Hardworking Indefatigable person Creative Co-operative

These are the qualities I come across. There must be some more qualities also.

My Opinion

Describe my catering service and the types of foods I want to prepare in the first section of my business plan. Some catering services serve guests at the table while others provide buffet-style meals where guests can choose from a variety of foods, beverages and desserts, and, in some cases, serve themselves. List specific types of food, such as Asian, Italian, German or American cuisine, as applicable and a sample menu if possible. Indicate whether I plan to provide tables, table settings, chairs and other items needed for an event if requested by the client or if I plan to outsource this work to an event rental company.

Determine the amount of space needed to run my catering business in the second section of mybusiness plan. Depending on my needs and budget, I can lease commercial kitchen space, rent space from a restaurant, share a commercial space with another caterer or work from home. Leasing commercial kitchen space can be expensive, so sharing a space with another caterer, using a restaurant's kitchen after closing or working from home may be more cost effective. Contact local commercial real estate agents to inquire about available industrial kitchen space or contact local restaurants to ask if they rent out kitchen space during off-hours, which are usually late at night or early in the morning. Working from home typically provides limited space to work unless I have a large kitchen, so keep this in mind when determining the amount of space needed to work comfortably.

Create a list of kitchen equipment needed to operate my business. Consider the amount of room needed to prepare and store food as well as the amount of room needed to use and store cooking equipment. Equipment may include industrial ovens, large refrigerators and freezers, counter space, food storage space, and storage for small kitchen gadgets such as food processors or pasta makers, knives and other utensils, pots, pans and mixing bowls. Visit

restaurant supply stores, online vendors or cooking stores to estimate equipment costs.

List all permits needed to legally operate a catering business in the third section of my business plan. Apply for a food dealer's permit if I plan to sell food to the general public. Permits are provided by the City of Houston Bureau of Consumer Health. I do not have to apply for a food dealer's permit if my company will cater private parties or family events. Additional permits such as an FOG (to clean grease traps), frozen desserts retail establishment permit and temporary food dealer's permit (if catering an outdoor public event) may be necessary depending on the catering services I plan to provide.

List additional start-up costs such as phone, Internet, insurance and transportation costs in the fourth section of my business plan. I may need to purchase liability insurance to protect your business in the event of a lawsuit or settlement, workers' compensation insurance if hiring employees, additional auto insurance or homeowners' insurance if running my business from home. Contact my insurance company to determine my insurance needs. Include a copy of all insurance policies in my business plan.

Create a marketing strategy for my business in the last section of my business plan. List ways in which to meet potential clients. For example, if I want to cater family events, hand out marketing materials such as brochures, flyers and business cards at local parks, family restaurants, day care centers and grocery stores. Contact local businesses if I am interested in catering corporate events to schedule an appointment to market your services. Meet with local wedding planners, photographers, public relations firms and other businesses that help plan events. Bring a sample of my food to showcase my talents and encourage referrals for my services.

My learning:

There is a will, there is a way. Relationships are very important it can related to business or

family, friends anything. Time management. The capacity of strong well expressed beliefs to motivate

others. Leadership is not just about getting people to do what do you

ask. It is far more about seeing what is needed and carrying people forward with your vision.

Being able to talk to people in terms they understand. Using appropriate language.

The value of creative risk-taking and “out of the box thinking”.

Thank You