The restaurant business
Running a restaurant is a hectic job, especially for a low-budget restaurateur. It requires them to be proactively engaged with customers and staff at one level. At another level, it requires of them to stay up-to-date on menus. Because it is the menu that draws the customer in the first place. Letting your menu items go waste instead of being sold could be detrimental to survival of the restaurant.
Menu: the profit or loss card
A menu that is based on locally produced goods and gels with the season is bound to attract diners even more. Of course taste is ultimately one of the decisive factors, if not the decisive factor, in determining if they would walk-in / order again.
Other factors affecting a restaurant's income
The other factors that can affect a restaurant business are:
- Prices
- Services
- Ambience
- Sitting
- Technology (POS System)
Add to these factors healthy sales, optimal utilization of inventory, personnel performance, customer 'experience', right marketing strategy, etc. and you get a daunting scenario.
The tightrope
Restaurant business is high-risk and has thin margins. It is therefore a must for a restaurateur, especially one with a low budget, to be precise in their judgments and decisions regarding all of the above. Error could cost dearly.
Given all these factors, is it possible to have someone to lend you a hand with this entire 'thinking' stuff in low budget!!? The answer is, 'yes'. Who is that someone? That someone is a 'Restaurant Point of Sale' (POS).
What is Restaurant POS?
A Restaurant Point of Sale (POS) is a combination of hardware and software designed to assist restaurateurs in running their business efficiently. It helps in all the departments of business some of which are:
- Cash (finances)
- Personnel
- Customers
- Menus
- Inventory
- Sales & marketing
Why restaurant POS?
A restaurant POS system is a must especially if you are a low-budget restaurateur. Why? Because in an industry already low on margins, your margins are even low. The last thing you want is loss.
There are plenty of reasons you should switch from the old cash register ("till") to the modern POS system. Some of those reasons (which are your business needs) are listed below:
The need to:
- make quick seasonal menus
- manage orders placed online
- manage and monitor staff
- plan sales precisely
- reduce inventory losses to zero
- modify the setting of the dining hall
- develop result-oriented marketing strategies
- undertake quick and clean cash transactions
- have efficient customer management
- have flawless record-keeping
- have the caller identity (for call-back, promotions, etc.)
- have accurate reports and analyses on all the above, and more
Which is the right POS system for your restaurant?
Once you have made up your mind (which you must if you want to survive and thrive) on buying a POS system, the next thing would be to look for one in the market which
- provides all of the above, and more
- is cost-effective and easy to buy
The Good news!
While most of the POS providers in the market sell their products only on full payment, there are others who offer iPad POS system (known to be the best in business) on reasonable prices through any (or both) of the following ways:
- Discounted rates
Some leading POS providers offer special discounts on their products from time to time. Look for them. Take a demo, discuss your customization needs, and go for the deal. Who knows there might be a % off deal on offer right now!
- Monthly installments
There are still some POS providers with excellent market presence based on their product who offer their POS systems on easy monthly installments. This is really beneficial as it lets you spend your money on other important things while at the same time enjoying the benefits of a world-class technology.
What is more, they give you the choice of having the system tailor-fitted to your needs. Ultimately, no matter how much cash you do (or do not) have in your hand, you need to spend it wisely. If you can work things around in such a way that you never run out of cash during the establishment and first few months of restaurant operations, that would be a huge plus.
So, power up your business with your cash in your pocket for a rainy day.
