There's little arguing how popular coffee is in the U.S. According to The National Coffee Association, nearly 6 in 10 domestic adults ages 18 and up drink coffee on a daily basis. As we get older, we tend to drink more. Three-quarters of those aged 25 and up have a cup of joe on a daily basis.
Since the beverage is such a hot commodity in cities across the country, it makes sense that coffee shops and roasters are taking the time to brew a well-made product. Local coffee shop owners will already know that running a small business by oneself is no easy task, but it doesn't have to be overly difficult if the right partnerships are made.
Use the coffee shop POS to grow
Since so many Americans are regularly drinking coffee, the competition in the marketplace is fierce. What's more, java is a taste-driven purchase, meaning customers will likely remain loyal to the company because of their quality product. But that's not to say a local coffee roaster can't improve customer retention and acquisition in other ways.
Local coffee businesses can use the point of sale as a foundation of growth, using its partnership with the vendor partner as a way to improve bottom-line revenue. With cloud-based POS systems, even the smallest operations can compete with the larger chains' added perks. For instance, real-time reporting that the latest terminals provide offer up-to-date customer information that can be used for personalized marketing purposes.
Cutting-edge POS software can also integrate with inventory management systems, improving coffee shop owners' visibility and oversight of their back-end processes.
Coffee shop owners who can better identify who their customers are and what they want, as well as improve oversight on the back end to better price their products, Forbes argues. A uniform markup across the entirety of a coffee shop's offerings isn't best practice, it's negligent management. Rather, Forbes says small-business owners should price line by line based on what customers expect given the current market demand.
By gathering all of this pertinent and important information in one sleek package, point of sale systems can dramatically help coffee shop owners add value to the customer experience and revenue to their bottom line. A credit card processing vendor - and its products - in this context can be used as a foundation of growth, if leveraged properly.