Do you own a restaurant and think that POS systems are only for accepting payments for service? If so, you’re missing out on revenue opportunities that this technology offers restaurant owners. Keep reading to learn how your restaurant POS system can help you increase revenue and learn more about your customers.
Create a Better Menu
When you offer food your customers want, you earn more money. Restaurant POS systems have a built-in database that allows you to track each sale. It’s a tool that helps you understand what your customers’ preferences are and how you can better serve them. By knowing what foods are most popular, this helps you purchase enough food to meet your customers’ needs. It also cuts down on food waste by removing less popular items from the menu and saves your restaurant money.
Create Better Relationships with Your Customers
Creating long-standing relationships with customers grows your business and increases revenue. A mistake that many restaurants make is not using the customer database information that POS systems for restaurants provides. While most restaurants don’t collect customer information for dine-in orders, that’s not the case for carry-out orders. When a customer places a carry-out or delivery order, you get valuable information about their demographics as well as their email addresses. The email address is an important revenue-building tool because it allows you to send information about specials.
Figure Out Your Best and Worst Sales Days
Your restaurant POS system is a great tool for managing your business. No longer do you need to rely on guesswork to figure out your best and worst sales days. Instead, you have the information at your fingertips. Having this information is powerful in terms of boosting your sales. It gives you insight on what days would be best to schedule promotions, so you can bring in more customers on slow nights. For example, don’t waste money having “buy one, get one” promotions on your busiest days. Instead, save these promotions for your slow days. Your POS system will let you know which days these are. You only need to analyze the data.
Do you need a refresher course on what shrinkage is? This is the inventory being wasted because of misuse or waste. It’s also the inventory lost to theft. The truth is that most restaurants don’t keep strict tabs on inventory because it’s time consuming and there are more immediate things to focus on. However, shrinkage is a huge money waster.
The good news is that your POS system can do all this work for you. When you spend time setting up your POS system to track inventory, you not only reduce shrinkage in your restaurant, but you make money. You’re no longer buying products you don’t need or adding to inventory when you don’t need to. These are serious problems for restaurants of all sizes. If you want to boost your revenue without relying strictly on new business, you must take measures now to reduce shrinkage.
As you can see, a POS system for restaurant owners is so much more than a money-collecting tool. It’s a powerful way to gain insight into what’s working for your restaurant and where you could improve. If you need restaurant technology support and want to upgrade your POS system, contact OnsiteRIS.