Opening a Restaurant? Here’s What to Look For in a Point of Sale
POS Tips For New Restauranteurs
Running a restaurant is no easy feat, and one of the most critical decisions you’ll make is selecting the right point of sale (POS) system. Your POS system will serve as the foundation of your restaurant’s operations, so it’s crucial to choose one that aligns with your requirements and budget. The point of sale market is expected to grow to $18.1B by 2028 .
To help you make an informed decision, here are some crucial factors you should consider when selecting a POS system for your restaurant:
Type of Operation
When choosing a POS system for your restaurant, the type of operation you run plays a significant role in your decision.
For example, fine dining establishments typically require a more comprehensive and sophisticated POS system that can handle reservations, table management, and multiple courses.
Casual full-service restaurants, on the other hand, may not require such advanced features but still need a robust POS system to manage orders, inventory, and staff.
Fast-casual restaurants need a system that can handle high volumes of orders quickly and efficiently, while food trucks require a mobile POS system that can handle payment processing on the go.
Understanding the different levels of service required by your restaurant type is crucial in selecting a POS system that meets your needs.
On one hand, you don’t want a POS that lacks features depending on your service. On the other hand, you don’t want to get stuck in an expensive contract with for a point of sale that’s above your needs.
Affordability and Price Point
Point of sale systems for restaurants can vary in price, but typically cost over $1,700 in initial set up, and well over a baseline $1,400 per year! (with OrderUp it’s $0/month or year).
For restaurants, profit margins can be incredibly tight, and they’re only going to get tighter in 2023.
That’s why it’s crucial to find a POS system that not only fits within your budget but also offers a good balance of features that can help streamline operations and increase efficiency.
Investing in an expensive POS system can put a significant strain on your already tight profit margins, and it may take a while to see a return on your investment.
On the other hand, going with the cheapest option available may save you money upfront, but it may not have all the features you need or may be less reliable.
So, finding the right balance between cost and features is essential to ensure that you’re getting the most value for your money.
Features
Features are another critical factor to consider when selecting a POS system for your restaurant. While more features can mean increased functionality, they also come at a higher cost.
Some POS systems offer features such as online ordering, inventory management, loyalty programs, and advanced reporting.
However, not all restaurants need all the features, and paying for them could be an unnecessary expense. In general, more features equals more monthly costs.
It’s crucial to assess your restaurant’s specific needs and select a POS system that offers the features you require at a price that aligns with your budget.
Additionally, keep in mind that too many features could lead to a cluttered and confusing interface, making it challenging for your staff to operate efficiently.
A POS system that strikes the right balance of features and ease of use can help streamline your restaurant’s operations and improve the overall customer experience.
Support & Maintenance
When selecting a POS system for your restaurant, it’s essential to consider the level of support and maintenance that comes with it. A POS system is a complex piece of technology, and any downtime or malfunction could significantly impact your restaurant’s operations. As such, you need to ensure that your POS system provider offers reliable technical support to address any issues that may arise.
Some POS providers offer 24/7 technical support, while others have limited support hours. It’s crucial to understand the level of support your provider offers and how quickly they can address any issues that may arise. Additionally, it’s essential to consider the cost of support and maintenance, as some providers may charge additional fees for ongoing maintenance and updates.
In addition to technical support, it’s also important to consider the ease of maintenance and updates. A POS system that requires frequent updates or is challenging to maintain could result in significant downtime for your restaurant. Look for a provider that offers regular updates and maintenance that can be easily performed by your staff or the provider’s support team.
In summary, selecting a POS system with reliable technical support and easy maintenance can help ensure your restaurant operates smoothly and efficiently, without any significant interruptions to your business.
Choosing the right point of sale system is a critical decision for any restaurant owner.
While expensive POS systems may have been the norm in the past, newer and cheaper POS systems like OrderUp offer many features at a lower cost. It’s essential to consider factors such as the type of operation, the features you need, and the level of support and maintenance provided by the POS system. Additionally, for restaurants with tight margins, investing in an expensive POS system may not be feasible, and choosing a low-cost POS system that offers a good balance of features and affordability can be a smart move.
By taking the time to consider your needs and budget, you can select a POS system that will help your restaurant thrive.
If you’re at all interested in learning more about the OrderUp POS, let’s jump on a quick demo so you can learn more about our system and how it can support your restaurant.
All the best,
The OrderUp Team
