Referencing Styles : Harvard Restaurant profile (fictional) Name: Bellini Italian restaurant Chef/ owner : Francesco Del Piero Theme: Authentic Italian Capacity: 78 seats Menu style: A la carte Average daily guest turnover: 39 Add Location: Main Street, CBD, Capital City, Australia Francesco is concerned that his restaurant is very quiet during the mid-week period. He hopes to use his leadership and management skills to rejuvenate the restaurant and increase business. Francesco is thinking about introducing an ‘all you can eat” buffet concept in order to increase the overall sale volume and profitability of his business. He feels that the major resistance to eating out in the middle of the week is due to the relatively high selling price of some of the items on the menu. The revenue reports indicate the current average food spend to be $36.15 and the average beverage spend to be $18.80. The monthly food reports show the actual food cost to be 32%. Francesco realises that reducing the menu price of some of the items would reduce the contribution margin per unit of food. However, he reasons increased beverage sales and the opportunity to expand his clientele base might result in return sales at the week-end. He decides to introduce an “all you can eat” buffet concept on Monday, Tuesday and Wednesday evenings at $ 28.90 per person and children at $ 12.50 each Write a report addressing the following points: 1. Discuss what Francesco’s strategy of “all you can eat” will do to the Food Average Spend statistics for the week and also the likely effect on the restaurant’s food cost percentage. 2. Discuss the key information to be monitored over the next few weeks to measure the results of this strategy. This will include: Customer visitation and perception The amount of food prepared daily for the buffet and how to deal with carry overs and waste The different contribution margins (buffet vs. a la carte) The overall effect on the sale volume and profitability 3. Critically analyse how you would have investigated the problem and what strategies you would have implemented to improve the overall profitability of the restaurant.