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I believe Matt should accept Regional Pool Tournament’s offer and hold the three rounds of tournament on Saturdays and Sundays. This event enables the bar to open their doors earlier and longer than a normal weekday or weekend presenting a lot of opportunities for Matt to turn a profit alongside additional expenses. Matt should offer a variation of menus for breakfast, lunch, and dinner with similar pricing to the dinner menu. That being said, if the breakfast menu sells well then, I would adjust the pricing for future weekends. From experience, it is easier to set initial higher prices on menus then drop them down rather the other way around especially from a customer point of view. Also, because this event targets pool players only an educated forecast suggests that non-pool players will not arrive for the 9am tournament. From this I project that a majority of customers for the weekend will be primarily pool players while projecting the same customer count and revenue produced by non-pool players who arrive in the evening. It is important to note that my findings and calculations were based on the fact that pool players generate 37% of average total food and beverage revenue. When considering all the forecasted revenues including pool games and F&B as well as additional expenses included tournament fee and costs, I believe Matt will generate an additional $9,738 on average in profit. I recommend that Matt continue to hold these events on the weekend because not only will he generate more profit but he will offer more opportunity for competitive pool players to stop at his bar increasing reputation/word of mouth as well as generating other hosts for future sponsorships. Holding tournaments only four out of the seven days a week is a loss of potential especially when they are offered only on weekdays 7PMàmidnight and not weekends.
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