Having a restaurant business in the current competitive market can be an uphill task. And carrying all the operations forward manually with precision adds up to the already tough job. In such a scenario, a POS system can be the savior! The best POS system for restaurant keeps it alive by circulating important information from the head of the department to the center, i.e. the staff right through the body, i.e. the whole restaurant and the guests.
Having the best POS system for restaurants was quite a tough task, maybe, a decade back because of the cost. But technology and cloud computing has cut down the cost to a greater extent! So, what’s the total cost of the best POS system for restaurant? Here’s everything you need to know –
What Does The Best POS System For Restaurant Do?
For some time, the only basic function of a restaurant’s POS system was to facilitate the orders of the customers and accept the payments. But thanks to the rapid advancements in technology, a POS system has become vigorous when it comes to its capabilities. Here are the functions of the best POS system for a restaurant –
- Analytics & Reporting
- Inventory Tracking
- Menu Management
- CRM (Customer Relationship Management)
- Tableside Service and Payment
- Loyalty/Rewards Program Management
- Online Ordering and Delivery
- Employee/Labor Management (time clocks, track hours worked, and track earnings)
How Much Does A Restaurant POS System Cost?
Restaurant POS systems used to cost a fortune back in the earlier days. But the costs are a lot lower right now, and you can have the best POS system for restaurant within a budget! A POS system for any restaurant involves primarily two types of things – the hardware and the software. Both have different uses, and the cost is different as well. Here is a detailed breakdown of everything –
POS Hardware Cost
The cost of hardware of a POS system for a restaurant depends upon the system that you are opting for. There are two different types of POS hardware systems –
- Cloud-Based System – These are also known as SaaS systems or web-based systems. These systems store data on remote servers and give users the ability to access said data anywhere they have an internet connection.
- Legacy Systems – Legacy systems, also called traditional POS systems, store data on local servers (in your restaurant) and run on a closed internal network.
You’ve got a variety of options when it comes to buying the hardware parts for your POS system. You can get a bundled software subscription along with the hardware to cut down the upfront hardware costs. As an alternative, you can also try having a hardware system on lease at $100 per month. Other than the basic hardware, you might need to have the extras like a cash drawer, receipt printer, barcode scanner, etc. And after adding these to your hardware list ill make a total of around $3000 per month!
POS Software Cost
Hardware might be an important part of the POS system of a restaurant, but having potent, lightning-fast software for the system might be the difference that you need. Before choosing the right software for your POS system, there are a lot of parameters that you need to take care of. When you’re trying to judge how the software price will translate into value for your restaurant, you need to look beyond the listed price. Here is a detailed breakdown –
The restaurant POS system software is no more related to upfront costs anymore. Instead, restaurants have started investing more in SaaS software that allows them to enjoy regular updates, remote control through the internet, and a lot more. Fees start around $69 per month, but for large businesses, or systems that provide more advanced POS features, you could pay more than $150 per month per terminal.
Final Verdict: Is It Worth Investing?
So, is it with investing in the best POS system for restaurants? Well, it is much more than just an investment. You’re going to need a POS system to take your restaurant business to the next level. It’s upon you if you want to install a legacy POS system or go for the best suitable modern one. While the former will limit your opportunities, having an advanced POS system can be a game-changer for you!
