What exactly do you mean? Are you asking about the Hospitality industry or for dinner parties? Either way, they both have their advantage and disadvantages. From a professional standpoint:
FORMAL
ADVANTAGES
high profit
higher chance of repeat business
less marketing required (more word-of-mouth recognition)
more leeway with creative ingredients/techniques
FORMAL
DISADVANTAGES
high initial outlay
requires constant updating and maintenance to stay relevant
requires high-calibre (and expensive!) staff
extremely high wastage
INFORMAL
ADVANTAGES
higher turnover
more guaranteed business
less pressure
more opportunity to use offcuts/leftovers
INFORMAL
DISADVANTAGES
less recognition
likely to attract lower quality/temporary staff
more work for less profit
I hope this helps, and I hope I'm not answering an entirely different question to the one you're asking! :)
Answers
January 31, 2011
What exactly do you mean? Are you asking about the Hospitality industry or for dinner parties? Either way, they both have their advantage and disadvantages. From a professional standpoint:
FORMAL
ADVANTAGES
high profit
higher chance of repeat business
less marketing required (more word-of-mouth recognition)
more leeway with creative ingredients/techniques
FORMAL
DISADVANTAGES
high initial outlay
requires constant updating and maintenance to stay relevant
requires high-calibre (and expensive!) staff
extremely high wastage
INFORMAL
ADVANTAGES
higher turnover
more guaranteed business
less pressure
more opportunity to use offcuts/leftovers
INFORMAL
DISADVANTAGES
less recognition
likely to attract lower quality/temporary staff
more work for less profit
I hope this helps, and I hope I'm not answering an entirely different question to the one you're asking! :)