Early Bird & Night Owl Evaluation Tool (EBNOET) v2015

Abstract

The early bird and night owl restaurant tool found in the accompanying Excel file provides an estimate of the effects of offering off-peak special menu prices. Unlike the classic back-of-envelope calculation, the tool includes the effect of anticipated cannibalization of full-price covers and seeks to optimize table use. The tool also considers the revenue from new customers attracted by the early bird or night owl promotions, as well as the level of increased business needed to achieve the net monetary value target for the promotion.