TECH: 5 Things to Ask Yourself Before Purchasing a New POS
POS systems aren’t complex systems by nature, but keep in mind that they are tools to manage entire businesses. Getting a complete system means that there is a learning curve. Now, how do you pick a POS system? Here are five questions you need to ask yourself before saying goodbye to your notebook or legacy system.
DID YOU KNOWS…
Free Beer & Bread at Church
The Hospital of St. Cross and Almshouse of Noble Poverty is a medieval church built in the 12th Century. And since 1130, the church has been giving out a piece of bread and small mug of beer, free of charge, to all visitors. It’s called the Wayfarer’s Dole, was originally meant to keep travelers upright and able to continue their journey. Now it’s a neat little perk for tourists.
China Lightyears Ahead in Mobile Pay Adoption
More than half a billion people in China will be paying with their phones in brick-and-mortar shops, cafes and restaurants this year, according to the Statista Digital Market Outlook. That equals a penetration rate of more than 35%, the highest in the world. However, the overall annual transaction value per customer is higher in the U.S., the UK and France than in China. The average Chinese consumer is projected to spend around US$1,100 with payment apps in 2019, compared to more than US$2,400 in the UK und almost US$3,000 in the U.S.
$5000 in Quarters is a Lot of Quarters
The AAF reportedly paid Marshawn Lynch $5,000 in quarters for an exclusive interview that never aired. The interview was for two-minutes and when Lynch was handed a check he instead asked to be paid in quarters (they were in Las Vegas at the time). The AAF took the request seriously and presented Lynch with 20,000 quarters. Alas, it was all for an interview that never aired.
WELL, THAT’S CONVENIENT
Why it matters to you: Convenience stores are emerging as another competitor class for restaurants
As if there aren’t enough dining options competing for guest spending, have you seen what the modern day convenience store looks like? From fresh made foods to beer delivery, the newest wave of rivals includes everything from grocery stores to food trucks. Convenience stores are particularly well suited to diverting that guest spending, because…well, they’re convenient. Take Wawa, a convenience store primarily on the Atlantic coast, they are now offering catering. They have always led the way with their instore food products, but taking it off-premise is just another challenge to the restaurant industry.
While we aren’t suggesting you add a copious number of beverage coolers or offer conveniences like gum or condoms, we do think you can learn from the convenience store threat. Convenience is in their DNA, so increasing their efforts at delivering on their promise is how they are going to be a threat to restaurants. This should inspire you to focus on what makes you different -- service, atmosphere, and food quality! There may be other factors that you believe differentiate you and that’s fine as well. The premise is easy enough: be the best at what you do that you can. If it’s good enough you’ll succeed. If not, I’m sure there’s a convenience store you can stop by to drown your sorrows.
[Source: Restaurant Business Online]
LUNCH LADY LAND [Song]
Why it matters to you: Doing good works in your community is also good for business.
We regularly challenge our subscribers to define a purpose for their efforts beyond making a living. That’s exactly what this operators in Warwick, RI did when she offered to pay down the accounts of children who were overdue on their lunch money. She raised $12k to help families of kids get current with the school district. Unfortunately, the school district rebuffed her offer multiple times, claiming they couldn’t find a way to be equitable in distributing the offered contribution. The fact that the school is only offering sunflower seed butter and jelly sandwiches to the kids that are overdue sounds fairly horrible. First, it’s not the fault of those children that their families are struggling. Second, this operator has offered some relief, but the school doesn’t even know how to accept it.
All of that is a shame, but the attention she has drawn to this issue isn’t. That’s the exact reason for adding a purpose to your business. You can pick a need in your community that resonates with you and use your platform to spotlight it and even make a difference. You could certainly say that the operators who raised $12k for those kid’s school lunches is doing just that. It also doesn’t hurt that it reflects well on her business that she is taking on a challenge that most of us can understand, hunger. So, what’s your purpose going to be? You’ll be pleased with how your community responds and sleep well at night that you did something for others. Win-win by anyone’s standard.
[Source: The Hill]