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Is the money in Gordon Ramsey's business?

Could Gordon Ramsey's line of work be the most lucrative option for Brits looking for a way out of credit crunch-induced financial woes?

This is what has been suggested by one jobs expert. According to the British Hospitality Association, the catering industry is continuing to offer excellent opportunities for entrepreneurs, like the TV chef.

Ramsey, who has made millions from opening restaurants and sharing his culinary secrets on television, recently shared his recipe for success with the Independent on Sunday.

He told the newspaper that when running a business in the food and catering industry, entrepreneurs should stick to the kitchen, if that is their forte.

"Chefs are just sh*t at things like IT," he said, "Employ somebody to do it for you. Play on your strengths, and improve your weaknesses."

Research recently released by nsurantz.com found that there is currently growth in the start-up business sector for fast food outlets.

However, the study advised those considering starting up this kind of firm that they could be jumping out of the frying pan and into the fire.

Potential business people were told toe understand food and hygiene legislation, take out employer liability insurance and protect themselves from litigation and other costly problems.

Miles Quest, a spokesperson for the British Hospitality Association, said: "[Catering] always has been an industry where the individual entrepreneur can come in and make a huge success of it, whether it is through a restaurant or a hotel.

"Buying a restaurant is far more risky than a hotel because it is more difficult to run, but it always has been an industry where people can come in and do well."

A report released by People 1st on May 13th this year warned those about to enter the hospitality industry, which encompasses catering, with optimism that the credit crunch is bound to take its toll in some way.

The study noted that in general total 26 per cent of businesses in hospitality, leisure, travel and tourism froze recruitment during the 12 months leading up to March 2009.

Mr Quest concluded that as times are tough people should make sure they are entering the industry for the right reasons.

He added: "Some people think that opening a pub is a nice little job for retirement, but it really is a lot of work. But it does offer huge opportunities."

© Adfero Ltd