Catering Project: Expanding to Thrive

Abstract

Thrive Group Wales, operates as a social enterprise supporting Thrive Women's Aid in combating domestic abuse and violence. Focused on catering services, they currently cater food to local companies in Neath, Port Talbot, and Swansea.

The project's goal is to expand catering services and improve their reach. Through interactions with the client, key needs have been identified, including understanding the events' industry trends, customer preferences, financial viability, risks, and other recommendations. The primary objective is to capitalize on growth opportunities for Thrive Group's catering department. Market research reveals a strong potential for expansion, and suggests using the company's USP to stand out from the competition. Furthermore, there are significant opportunities for the business to grow in terms of branding and product positioning.

The results of a survey carried through the project give major insights into consumer preferences, indicating their willingness to pay for food during events, a preference for music festivals, and Mexican street food being a top choice of purchase. Financial analysis suggests short-term promise but highlights the need for stable revenue growth strategies. Risk assessment strategies encompass a range of risks such as reputational, financial, operational, amongst others, and the best strategy to tackle each of them. By addressing these challenges, capitalizing on opportunities, and taking into consideration the recommendations of the project, the Thrive Group can expand into a successful and impactful catering business while supporting its charitable mission.