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Buddy's Smokin' Bar - B - Que restaurant opened in 2 0 1 4 and struggled to build a customer base for lunch, dinner, or
Buddy's Smokin' BarBQue restaurant opened in and struggled to build a customer base for lunch, dinner, or event catering options. When the owners were planning the restaurant, they had projected they would sell to lunches daily with an average lunch price of $ They believed that dinner business would be higher and that they would also benefit from their approved liquor license, which could generate between and plates per day at $ per customer. However, the actual daily lunch and dinner totals were much less and the owners were barely breaking even. They wondered if they should close the business. However, Buddy's restaurant began an aggressive marketing effort, offered lunch and dinner specials, and promoted the restaurant as a familyfriendly place where everyone could enjoy fresh, smoked barbque meats. As a result of their marketing efforts, the restaurant is selling out of its product almost daily and has built a takeout business as well. They are selling lunches daily with an average price of $ and approximately dinner plates at $ The restaurant is pleased with the revenue stream they're generating from the restaurant and are considering opening a second location or adding space to accommodate more customers at the existing location. Using the data regarding number of plates sold and the average order amount generated, what kind of analysis can the owners of the restaurant perform to assist them in understanding their business opportunities?
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