Run your business better: what’s the best way to finance restaurant EPOS?
It’s the technology every restaurant wants and needs, and no wonder – restaurant EPOS streamlines operations, cuts costs and makes great customer service a cinch.
The benefit to your bottom line is clear. But with many restaurant margins slim, it’s important that ROI is rapid.
So what’s the best way for you to finance restaurant EPOS?
Good providers should always give you a number of options that suit your own restaurant finances.
For example, you might be a new business with start-up capital in hand – or you could be running a long-established and expanding chain. The requirements of each are very different.
Chris Cartmell of NFS Technology Group says two things should be top of your mind.
“Number 1 is to make sure you get the restaurant EPOS system that will do what you really need it to do,” he says.
“So choose a provider with a consultative approach who will look at your requirements and work with you to make sure the system will achieve everything you need.”
- Control stock and labour better
- Reduce waste
- Improve front to back communications
- Speed table turn
- Improve customer service
- Create engaging loyalty campaigns and monitor your social media reputation.
“The Number 2 thing to consider when choosing a system is to make sure you finance restaurant EPOS in the way that’s best for your business,” says Chris.
Your options to finance restaurant EPOS include:
- Buy – you buy the hardware and the software
- Lease – you lease the hardware and the software
- Combination – you buy the hardware and lease the software
Chris says: “Each option has its benefits, and should be tailored for your situation.
“If you buy the hardware and the software you incur no further costs.
“However, leasing is a convenient low-cost option where you pay a monthly fee.
Staying up to date
“If you lease and have a maintenance contract, your supplier will provide you with software upgrades as they are issued, keeping your system completely up to date with innovations and improvements – the hardware, too.
“Some businesses prefer to buy the hardware and have a lease contract for the software, which can provide a flexible and affordable option.”
Cloud or on-premise?
Chris says: “SaaS (Software as a Service) is an increasingly popular option for modern hospitality businesses.
“We are about to launch a new bundling strategy which will see our most popular restaurant EPOS combined in a full-stack offering called Aloha Essentials that will be an extremely cost-effective way to gain all the benefits at once.”
ROI – restaurant EPOS as a revenue generator:
James Brown, Retail Director of BrewDog, says: “The Pulse App is an awesome tool that provides our Managers and Operations team with a competitive edge in terms of real-time information across our global estate of craft beer bars that is critical to achieving our mission of making everyone as passionate about craft beer as we are.”
Chris Cartmell says: “As UK restaurants work hard to take advantage of new trends such as home delivery, voice ordering and online reservations, restaurant EPOS is becoming more and more essential.
“We believe the key to success is installing systems that deliver exactly what each individual restaurant or group needs – and in providing finance options that make implementation feasible and ROI swift and substantial.”
How will restaurant EPOS work for you?