How to Evaluate a New POS Purchase for You Restaurant https://lnkd.in/gchYH6pP Peter Kellis, founder and CEO of TRAY has a good overview on the costs of POS, worth thinking about in the light of the current POS surcharge battles. Here are 5 factors to consider about how much your POS system is costing your restaurant. 1.?Upfront investment: Implementing a robust POS system requires a significant upfront investment. This expenditure encompasses hardware, software licensing fees, installation costs, and staff training. 2.?Integration and scalability: Down the road, what will the cost be to add in a new loyalty program or switch to a better back-of-house platform? 3.?Training and staff turnover: Introducing a new POS system necessitates comprehensive training for both management and staff, and time and cost vary based on the complexity of the system. 4.?Payment processing fees: Everyone thinks they have a great deal on credit card processing. But if you haven’t shopped rates openly in the last two years, you likely can be doing a lot better 5.?System downtime and technical support: Despite the reliability of modern POS systems, technical glitches and downtime can occur.
Jenifer Kern had a nice article on POS here. https://www.dhirubhai.net/pulse/big-pos-reframe-jenifer-kern/?trackingId=zs97vaXvQymyf1ZWxLhWAw%3D%3D This reminds me of the discussion Joe and Ned were having the other day. Sometimes in very large franchise systems, there is no one point of sale system & you have to set up a common data platform to allow the various systems to talk with each other.
This is the issue that Delta Payment Solutions is constantly highlighting. "Many POS companies make a majority of their profits on processing — hidden fees that brands pay without really understanding the cost. Restaurant owners and operators must carefully evaluate associated fees, transaction charges, processing rates, and monthly service fees — and do so on an ongoing basis.?" But who in the restaurant is responsible enough to monitor this these fees on an ongoing basis?
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1 年
Is Peter right: "But by obsessing over the latest surcharge, there’s a more important one that gets ignored in the process: How much does a point-of-sale system truly cost restaurant operators??" You agree with this Joe?
Franchise Growth Strategist | Co-Producer of Franchise Chat & Franchise Connect | Empowering Brands on LinkedIn
1 年API openness. This is very important. "Look for POS platforms that will give you their APIs directly and will openly disclose any fees charged to you or to third parties to use the APIs." We know that one of our favourite providers, Fran Metrics and Jason West McReynolds CFE run into this problem all the time in the larger franchised restaurant systems.