It is notoriously difficult to sustain a restaurant business. When every penny counts, you would be a fool not to take advantage of every tool in your arsenal to maintain and enhance your profits. Assuming that you accept credit cards and are reasonably up-to-date in terms of technology, your restaurant point-of-sale (POS) solution is full of ways to keep more dollars in your pocket.
Thanks to your POS, you no longer need to scratch out long lists of the products you need on random pieces of paper. Nor must you pray that you have the complete list in your head to guard against running out of vital ingredients.
With every item documented and accounted for in your POS, you can accurately forecast how much of everything you will need, thus cutting down on waste. If valuable items start to disappear inexplicably, it won’t take months before you suspect that theft is occurring. Instead, you can immediately act to stamp it out.
Predict Sales Trends
Generating reports with your POS is a simple matter of a few clicks. With the information it provides, you can look back over specific time periods, noting when sales ebbed and flowed.
Armed with this information, you will be able to make accurate predictions about what your sales will be like during specific times such as the holiday season. Once you do, you can purchase exactly what you need without under- or over-estimating, thus padding your profit margin.
Gauge Staff Needs
Just as your POS can be a virtual psychic when it comes to sales trends, it can also track data to help you staff your restaurant appropriately. For instance, there is no reason to have a full staff of servers during times when you know there will be fewer customers, so you can trim staff hours and save money.
By the same token, being short-staffed during busy times can lead to dissatisfied customers and a long-term hit to your reputation. Once again, your POS can rescue you from potential damage.
Loyalty Programs and Promotions
Let’s face it: A half-full restaurant is a money drain. When sales are lagging, take advantage of your POS’ database capabilities to alert customers to flash specials and promotions that you can develop on the fly.
If your system is able to send out push notifications to customers’ phones when they come within a few miles of your establishment, you are even more likely to gain from spur-of-the-moment business. Once this happens and your loyal customers come back to visit during otherwise quiet times, your operational costs can be absorbed by means of the food sales you make to them.
Your POS is a lot more than a cash register. It can be your restaurant’s pipeline to lowered costs and increased profits, enabling you to utilize inventory and staff more efficiently. In the end, it just might help you be successful for years to come vs. suffering the fate of so many fledging restaurants.