Restaurant owners move 100 miles per hour.  They don’t have the time or remaining energy at the end of their far too long days and their never-ending weeks to dig into the nitty-gritty of selecting the best point of sale for their business needs.  Often times they make the decision based upon the processing rates and not on the capabilities they need!

Selecting your next point-of-sale off of a perceived processing rate is not only short-sighted, but it’s the equivalent of purchasing eggs that expire tomorrow— oftentimes the value is in the moment.

For the most part, there is very little wiggle room with rates.  The base rates are set by the big 4 (Visa, MasterCard, Discover, and American Express).  There are over 500 different types of cards and each card has a different rate.  Paying for the processing is a part of doing business, accept it and focus on the power the POS you are selecting.  The newer POS models are intense, impressive, and can actually make you money—so much money that you’ll never think about the “processing rates” again.

In fact, when you are selecting your next POS, your financial concerns should focus on the ancillary benefits: what’s the cost of tech support? Is there a fee for software upgrades (these can be huge)?  Am I working with a consultant or a 1-800 number?  What can this system do besides put money in the drawer (the new systems provide such higher level capabilities like Wi-Fi marketing or text-message based loyalty programs that will make you money & create repeat customers).  This is just the tip of the iceberg but you get the idea.

So, your old “brain-based” Model-T POS finally sputtered out and you’re in the market.  Consider the following 5  points when selecting your next Point of Sale:

1. Is it Cloud-Based? Cloud-based POS systems allow you to see your data from anywhere in the world, and more importantly, monitor your data & employees.  Restaurant owners can now go on vacation and almost achieve complete piece of mind if they’re working with the right POS and the right consultant.
2. What Apps does it have that can help your business? Not apps like “appetizers,” apps as in “applications.”  Just like you can download Candy Crush to zone-out or Instagram to see what other restaurants are doing, the modern POS have applications that can help you run your business better and more importantly, communicate, monitor, and reward your customers.
3. When selecting your next POS, ask the Consultant… “Can you recommend 3 apps that will help my business?”
4. Look for the best & longest warranties. Technology is awesome but it is constantly growing and bending.  If something goes wrong, you want a warranty that will send a replacement system overnight.  Some POS warranties can and will offer this.
5. Lastly, Demo it! This seems like a simple reminder, but far too many owners purchase POS without ever taking it for a test-drive.

Selecting your next POS should be fun and exciting, like getting a new phone.  The technology now available to restaurant owners is mind-boggling and simple.  Take advantage of the new world and set yourself up to prosper and better communicate with your guests.

Step back from running the business and look around the restaurant.  All your guests are staring at their phones and the right POS can communicate with your customers long after they’ve left the table.