How to Select the Right POS System in 10 Easy Steps

Whether you are in the startup phase or own an existing restaurant and look to upgrade, you'll probably agree that purchasing and putting into effect a point-of-sale (POS) system is one of the most stressful processes for operators to endure. Ever-growing dependency on POS systems to help run our restaurants, not to mention the initial price tag, has entrenched the process as one of the most critical decisions would-be operators have to make.

Selecting the right POS system can literally transform your operation by improving controls, efficiency and even sales volume. Properly chosen and put in place, a POS system can pay for itself in a matter of months. However, choosing the wrong system or vendor can cost you many times over in lost revenue and dissatisfied guests.

According to industry experts, the average restaurant routinely purchases or upgrades their POS system every three to five years. Considering that new POS systems cost anywhere from $2,500 to upward of $5,000 per installed workstation, owning a POS system not only factors heavily into your preopening budget, but to your ongoing capital improvement budget as well.

Once purchased, the cost to maintain the average system can run from $500 to more than $2,000 annually, or around 10 percent to 15 percent of the purchase price. With such a substantial financial investment at stake, it's imperative that operators perform due diligence in their search, selection and installation of a POS system.