Starting a restaurant can be a fulfilling moment in one’s life, but it could just as easily turn into a nightmare if not done properly. Simple things like implementing a Point of Sale system, tracking employees, and embracing efficiency are what’s going to prevent the nightmares from creeping up.
A POS (Point of Sale) system simply puts all the numbers and main operational aspects into one place providing a sense of organization. Ordering, logging employee hours, p3 Tips Every New Restaurant Owner Needs To Knowrocessing credit cards, minimizing customer wait time, and identifying pain points are just a few of the things a restaurant POS does.
Without further ado, let’s get to the 3 tips every new restaurant owner needs to know.
Having a restaurant POS system in place your finger on the pulse.
From the revenue that your restaurant brings in to all the data generated in the other aspects of the business, using POS software is the only way to bring it all into one place. What used to take hours to do, thousands of pages to cover in its entirety, and a lot of night with no sleep is now as simple as a click.
Any successful businessperson will tell you that the only way that they have been able to succeed is by knowing exactly what their business is doing. Combine that with identifying the parts that could use improvement, and you have the true formula for a successful life as a restauranteur.
The proof is in the numbers. Why would you risk overlooking them?
In order to prove the worthiness of your restaurant, you must have the numbers to back up your claims or there’s no reason for anyone to believe you. This is where your POS can come in to save the day and serve as your living proof. Below you’ll see some of the most critical reports pulled from POS systems.
- Employee Reports (Including Labor Costs)
- Expense Reports to Track Payments Made
- Food Costs to Show Your Efficiency
- Overall Summary of All Finances
- Product Mix and Selection Reports
Here’s a few more of the benefits available with restaurant POS software.
Now that you’ve got a general feeling of just how powerful a restaurant point of sale system can be for you, let’s touch on some of the other more popular features. Keep in mind that each POS is different. We did try to touch on points usually offered regardless of the make and model though.
· Collect Customer Data for Future Marketing Efforts
Many modern POS systems will provide customers with the opportunity to enter their email address for special deals and discounts. This helps you maintain a database of people who are more likely to come to eat at your place over somewhere else since they’re familiar with it.
· Enhanced Security for Processing Transactions
Processing credit cards is risky enough, you don’t want to be liable for customer’s personal information from getting into the wrong hands due to a security breach. The way that these systems are designed allows for patches to be rolled out, thus enhancing security around the clock.
- Improve Communication Among Your Employees
There are add-ons that can be implemented to send orders directly from those taking them to the ones responsible for making the orders. This helps speed up turnaround time and minimizes any mistakes due to miscommunication.
· Manage Your Inventory & Place Orders on the Fly
This part of the business led to many extremely late nights for managers in the earlier days. With the use of computers, it’s now as simple as it could ever be. Not to mention it is way more accurate as well.
· Simply Manage Discounts & Promotions
When you roll out a promotion, just input it into the software itself. No more repeating yourself to employees or having to remember everything yourself. Life is busy enough for you when you start a restaurant anyways, why overcomplicate it?