If I might add a few more comments, I am the guy who made the comment on the cheese etc.
If you are getting Grande cheaper than the 4 cheese blend then you are getting raked on the other cheese. I would definately, without a doubt look on this site and compare what you are paying for high traffic items, like cheese and pep…and if your current supplier is gouging you, get another one. And if you cannot get another one, this might seem wacky, but I would rather take a trip to a larger town where a distributor runs routes to save money…seriously.
Another comment based on personal experience with what you are dealing with. A BIG chain of buffets in our area changed ownership and tried to re-invent itself, including adding things like chicken, potatoes etc to their line and BUMPING the price to the levels you are discussing…they remodeled a bunch of local stores and tried to make a go of it. This lasted a year and recently they closed down the majority of their operations, leaving open 1/3 of the stores they had with the new ownership and rollout.
WHY? Here is why and this is why you are struggling (IMO)
As Nick and others have stated, it is all about price point…you guys are looking at profits per guest when you dont have enough guests coming through the doors. Places like Ci-Ci’s charge less than even has been suggested and they are doing just fine. HOW? They keep the buffet line simple…people dont go to a pizza buffet to get this and that and the other…people go to places like Hometown Buffet to get a smorgasbord of mediocre stuff and your price point is near comparison to a place like that…but your buffet line isnt anything CLOSE to what you can get at a normal buffet. The local place after seeing their traffic count was diving with the NEW line, decided to drop popular items and skimp on labor and service…and now they are getting killed.
I would scrap the two kinds of pasta, go with a baked ziti and do away with the chix alfredo and the other pasta…give one choice. I would also do away with the cheese sauce and baked potato, and make fries or some wedges instead…I would also analyze what costs a ton on the salad bar and try to reduce it and keep it simple.
If you can reduce a few items, drop your price point and bring in traffic, then you can lower waste, lower labor costs, and PAY fixed costs.
Even if you have to take a loss on a slow night to drive sales, I would rather drive sales and pay some fixed costs and generate some excitement (thus the free kids meal with an adult purchase, or Tuesday Madness, 3.99 or somthing)…
Also consider things like frequent guest passes, pound the pavement on door hangers and school nights.
Try to focus on generating sales, increasing customer satisfaction rather than pinching pennies and having too broad of a line menu.
I would also OFFER extended delivery for an extra cost…people will understand.