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This is one of the fastest growing home businesses with great income potential, minimal start-up costs, and allows for flexible schedule. Entrepreneur Magazine calls it "one of the hottest trends in today's marketplace" while the U.S. World News and World Report called it a "hot track career." In 2000, this business was estimated to reach over $100 million and is one of the rapidly growing segment of the home meal replacement market.
As a personal chef, you prepare meals one or two times a month in your clients' homes, providing enough food for two to three weeks. Given the shortage of time and increasing level of activity, more people are paying $7 or $8 a meal per person to a personal chef to come to their homes, prepare several dinners and leave them in the refrigerator or freezer. When they come home, they have several choices of tasty and nutritious meal to choose from, instead of fast food fare or TV dinners.
To become successful as a personal chef, you need to prepare customized and personalized menus that allow you to make profit while making your services cost-effective to clients. If you prepare 10 meals to a family of five costing them $340 per visit, each dinner costs around $6.80 apiece an amount lower than the $12 to $15 per person a family would typically spends in a restaurant. However, you have to be careful that excess costs do not devour your bottom line.
Personal chefs can make monthly income of $3,000 to $4,000, while potential annual revenues can $40,000 to $50,000.
While you can get clients through advertisements, this business primarily thrives on word of mouth. Since you will be working in your clients' homes, they need to be comfortable and familiar with you (although it helps to get theft and liability insurance in the event an untoward incident occurs in your clients' homes). You can also do cooking demonstrations and write articles in magazines and other publications.
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