People like going to restaurants. It's an enjoyable experience and something that will likely remain in demand.
That may explain why the National Restaurant Association forecasts industry sales to reach more than $709 billion by the end of 2015, a nearly 21 percent increase from 2010. That figure also represents the restaurant industry's share on the dollar. In 1955, the industry shared one-quarter of the food dollar; today, it represents 47 percent.
As a restaurant owner, you don't want to miss out on this action, do you? Industry revenue has consistently increased over the last six decades and doesn't show any indication it's slowing down soon. But as a small- or midsized-business owner, you also have to make sure you have the right structure, systems and vision in place to not only grow revenue, but also improve as a company.
Focus on systems, not people
Customer service is a massive aspect of the hospitality industry, there's little arguing the fact. Anyone you hire should already know that, especially if they're working for tips. That said, you need to focus on having the right systems in place and not so much on finding extraordinary people every round of hiring. Since turnover is so high in the industry, you need to have a well-established model of success for your restaurant and have employees abide by that. Even ordinary individuals can produce outstanding results within a strong system.
You may have your own way of effectively managing your staff, but one way to ensure predictability and consistency throughout the entire customer experience is by leveraging point-of-sale technology. Your employees can make the payment process much easier and quicker for diners, which is one of the main complaints customers have in any type of business. Using a POS System to create a consistent and pain-free dining experience is the first step in customer satisfaction. But POS technology extends its benefits far beyond making the consumer happy.
Improve operations through enhanced security
Credit card processing should be fast and easy today, but it also needs to be safe. Customers don't want to have to worry about their information getting stolen by cybercriminals, and as a restaurant owner, it's your responsibility to help protect them.
Cutting-edge POS systems offer value-added layers of security like encryption and tokenization, which both protect sensitive data at the point of sale. The cost of a data breach today is too much for a small business to quickly recover, so by investing in a modernized terminal, you're investing in the future growth of your own company.