How Much Does a Restaurant POS System Cost?
Being in the food business, you want to offer your customers the best service possible. A restaurant is not just a place where people go to eat. A restaurant is a business that involves different processes and operations for it to run smoothly. More than just the food on the menu, there are other things to consider such as management, marketing, inventory, and financial aspect.
That is why it is recommended that restaurateurs install a POS system to help simplify some of these processes. However, some restaurants still prefer the traditional manual method because they are hesitant about the cost of POS system. Experts say that a POS system will help restaurants modernize and organize their business processes and therefore restaurant owners will get value for their money.
Average Cost of Restaurant POS System
The POS system involves the hardware and software that owners decide to be installed in their restaurants. The hardware is the POS equipment to be installed. The software expense depends on your subscription.
A look at POS Options, which provides reviews for POS systems, shows that the average restaurant POS software subscription is at $69 each month for one register or license.
A review of the websites offering restaurant-specific POS hardware indicates that a complete set up can cost more than $1000.
Epos Now, a Cloud-based POS, offers a complete system package for $1,799. This includes the Epos Now Hospitality Software, their Pro-A15 terminal, a secure and high-grade metal cash drawer, and a receipt printer. For those who just want to purchase the POS software, the rate of monthly subscription starts at $39. The Epos Now POS software can provide restaurant owners with business reports, inventory, control of security access, employee and customer management, and back-office functions. The software runs on Mac, Windows, and Linux. It is recommended for small to medium-sized restaurant businesses.
Subscription for Touch Bistro software starts at $69. This is good for one license. It offers unlimited licenses for users for $399. It runs on Mac, Windows, and Linux. The system can be customized for small to large restaurants. Its standard hardware package costs $1118.48. It includes an iPad, an iPad stand, receipt printer, cash drawer, battery for a power back up, and a router.
Square Up has a different kind of pricing model. It does not offer a monthly subscription. Instead, it charges clients 2.75% for each card swipe and 3.5% plus $0.15 for every keyed-in transaction. POS hardware is also available for purchase. A complete set up would cost $306 for the chip card reader, contactless + chip reader, Miura M010 Reader (for iOS), and a stand for the magstripe. The magstripe reader is free. This will allow restaurants to accept payments made through magnetic stripe, EMV chip cards, and mobile payments. The software provides management tools for employees, customers, location, marketing, and financial reports. It also has options for open tickets, receipts, and tipping.
What are Included
Every purchase or subscription to a POS software includes the software license, maintenance and technical support, installation, training, customization, and data migration services. Training can be done face to face, or through documentation, webinars, or online. Technical assistance is usually available 24/7 through chat support.
Some companies like Square Up also offer chargeback protection for disputed payments. As long as the subscription is active, restaurant owners can be assured of software upgrades.
Meanwhile, purchases of hardware include warranties.
You have to pay for each additional hardware to be installed in your restaurant. Some restaurants need multiple touchscreen monitors and mobile devices such as tablets and smartphones to make their service to their customers fast and efficient.
Additional features from your software would also mean added cost. As the system becomes more advanced and sophisticated, you are paying for premium services. For example, you can upgrade your subscription with Epos Now to avail of their premium software for $69 per month. This will give you access you other hospitality features that they offer to help with your business concerns.
There is also an additional cost to the software subscription for the number of devices and users that have access to the system.
Shopping for Restaurant POS System
Aside from transacting directly with POS suppliers and dealers, restaurant owners can also purchase POS systems at Amazon.com. They can avail of discounted bundled packages instead of buying the units and software separately. They also show upfront restaurant POS system cost to give you an idea about the budget needed.
Individual units of POS equipment are also available here depending on what restaurant owners need.
Factors Affecting the Cost of POS System
POS suppliers offer packages and bundles suitable to the needs of their clients’ restaurant business. They also have different pricing models that owners should also consider for their convenience.
The hardware may include a screen register, barcode scanner, credit card reader, receipt printer, and cash drawer. Restaurant owners can also consider a tablet-based POS system. The cost would depend on the price of each unit and how many units are to be installed in the restaurant. Of course, the owners’ decision should be based on the specific needs of their business.
The cost of the software would depend on the available features and how many registers or users can access it. You need to pay a higher subscription rate when you have more users. There is software that offers sales reporting, customer management, inventory management, and employee management. These features will help the restaurant business sustain and even improve their business processes. The cost of software also extends to technical assistance and system upgrades. Owners should also consider the platforms where this software can run smoothly.
Choosing a restaurant-specific POS system seems like an arduous task. But it is important to do your research and read reviews from experts and users. Decide which specifications and features your business needs so that you can choose the best POS system.
But of course, you should also keep in mind that functionality should meet sensibility and flexibility. It should be easy to use and secure enough to make you almost forget the pressure of running a business so that you can concentrate more on giving quality food and service to your customers.