It’s a great time to be a small business or restaurant owner
It’s a great time to be a small business or restaurant owner if you are a millennial. A recent study showed by the SBCD showed that 49% of Millennials want to start their own business in the next three years. Over half would say goodbye to the daily grind to start their own business with the right resources.
Good job there are plenty of Point of Sale systems to help you get ahead of the curve.
So, why jump on the entrepreneurial wagon? How can a great POS System help me?
INDEPENDENCE. The biggest plus to being your own boss is Independence. You make the decisions; you choose what you do and when you do it. It is important to arm yourself with technology that can grow with you. A POS system can add devices easily. Opening an additional stall at a farmer’s market? Adding a pop up shop during peak season? POS can help you with that, you don’t even need more hardware. You can do it from that smartphone of yours!
CONTROL. Control is a wonderful thing. As a business owner, from concept to creation every inch of the business is in your hands. Complete immersion in your business can be thrilling and overwhelming, so why not use POS to work FOR you. POS improves inventory visibility, helps track sales and works with you to manage total counts and shelf inventory. With a system that can track product to such a high caliber, you will be able to make future inventory predictions more accurately.
FLEXIBILITY Perhaps the biggest plus to running a small business is flexibility. Smaller staff sizes allow businesses to develop personal relationships with the customer, leading to repeat business. With a system like POS you can make sure the customer experience is the top priority. Freeing up employees from time consuming book keeping to focus on activities related to boosting clientele service. Faster checkouts and easy to use systems have customers leaving already planning their next visit.
Sound like it’s for you? For more information on the systems available from CoCard, head to our main website at www.cocard.info.
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Streamline Your Restaurant or Retail Operations With POS
Point of Sale technology enables businesses to improve efficiency, productivity and transparency by tracking sales, cash flow, food/ingredients and inventory as well as simplifying bookkeeping.
POS solutions make it easier, especially during peak hours, for the tracking of high volumes of cash, credit card sales and inventory. A good point of sale system cuts down on theft within a restaurant because each server is accountable for their sales both cash and credit card.
Here are more POS functions that could help you run your business:
- Point of sale systems streamline operations and keep communication lines clear between wait staff and the kitchen. An order is keyed into the POS and printed in the kitchen.
- POS systems store more information than the traditional cash register making the information accessible to the business owner at any given time.
- Business owners can keep track of everything from food/ingredient usage to tracking the most popular menu items.
- Checking out customers is easier for retail business owners because of barcode scanning.
- Business owners can access inventory in real time, retrieving exact figures on products or items sold; tracking the movement of ingredients or items effortlessly.
- Because staff must log into the POS system to begin their shift the POS system also acts as a time clock and becomes the source of reference when preparing payroll.
- Saving time and money in bookkeeping, most POS systems have the capacity to organize and create profit and loss statements as well as sales tax statements.
POS systems consolidate the whole of your restaurant or retail business with different features to help keep your business streamlined, efficient and transparent. Whether you own a restaurant or a retail store we have a point of sale solution for your business. Android, Windows, iPad, wireless, mobile and pay at the table, solutions, let’s talk about how a point of sale can help you manage your business.
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New Year, Newer You: 4 Things To Remember As 2018 Moves Along
As we find ourselves in the second month of 2018, we at COCARD would like to do a quick check in for any New Year’s resolutions you may have made this year, or things that you’d like to improve on for the upcoming year. From money management skills to planning, how have you been doing with these things since January 1st?
- Managing cash flow
How do you manage the money that goes in and out of your business? Money is the lifeline that keeps your doors open, and your business running. Without it, you and your business will have a difficult time existing. Did you know that 82% of startups and small businesses fail because of a lack of cash flow, according to a study from U.S. Bank, a financial services company? So take stock of where your money is coming from, and if needed, take stock of tip #2, reviewing your rates.
- Reviewing your rates and charging your worth
It is one thing to charge one rate as you start, but another thing to keep the same rate as you’ve gained more experience and can prove the value that you bring to another business or company. So look at rates in your industry, and make sure that you are charging a rate that fits your experience and worth. Anything less would be criminal, and would hinder your ability to bring in the right amount of money for your business and livelihood. So do your research, and even write down the value that you’ve provided to customers. Then set new rates.
- Staying on top of your industry-game
As a professional in your field, you should continue to learn. Learning doesn’t stop after you make a certain amount of money. It also doesn’t stop after you’ve reached a certain professional marker. To stay current and at the top of your game, you should read books, take courses, and attend events that will help you to keep developing your skills. In this way, your business will continue to evolve for the better, and can continue to compete in the marketplace.
- Focusing on what works
If you come up against obstacles or questions, you should focus on the things that work for you. If something isn’t working, toss it aside, and continue moving forward. This method allows you to make room for something else in the future, something potentially much better than what you had before.
As the year progresses, it is important for us as business owners to take stock of the roads we are taking and how we will get there, to our destinations. For all of us, “there” often means profitability along with a strong bond with our customers.
What else have you taken stock of as a business owner since this year has started?
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6 Retail Marketing Strategies You Should Try in 2018
It’s 2018, nearly February and I have been thinking about strategy, retail strategies to be precise. Have you thought about your marketing strategy for 2018? This article might help, it’s full of useful information, take a look and let me know what you think or call me and let’s exchange ideas! Nelda
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