Restaurant POS systems have evolved from bulky computer systems to virtual terminals. These virtual POS systems synchronize ordering and payment with software for restaurant management. Today, there are several restaurant systems available at varying prices.
The total price of a restaurant POS system depends on many factors, including the functionality it provides. We will explore the different factors determining a POS’s cost and the average price a POS system costs a restaurant.
What Factors Influence How Much a Restaurant POS Will Cost?
There are certain features and factors that POS providers use to determine the cost of their restaurant POS system. With each of these POS systems comes different hardware and software capabilities ranging from hardware to software, and other extra features. This variation in features and capabilities makes it quite difficult to peg the cost a POS system will cost your Restaurant.
To determine the total restaurant POS system cost, you need to understand the POS functionality and compare it to the hardware, software, payment processing fees, etc. We will, however, list the influencing factors to help you understand.
Hardware for Restaurant POS Systems
The average price of a restaurant POS system such as Loyverse POS, is around $600 for a handheld tablet hardware package. If your Restaurant requires a more intensive hardware package, you can opt for other POS hardware packages. Those cost around $2,600 on average.
Restaurant POS hardware packages typically include Cash drawers, credit card readers, receipt and order printers, WiFi routers, and extenders. If your Restaurant requires different hardware devices such as a barcode scanner, network cables, additional tablets, etc., the price would be higher than we have indicated here.
The cost you will pay for your POS hardware reduces when you buy a bundled restaurant POS software. Some providers even offer the hardware bundles to you for free.
Restaurant POS System Software
Restaurant POS systems have upgraded to the software-as-a-service (SaaS) subscription packages. The shift means that your Restaurant will enjoy regular software updates, improved technical support, and remote data storage. The average POS software for restaurants provides you with CRM, inventory management, regular sales reports, basic marketing features, and employee management.
These POS software are offered to restaurants on payment of the monthly subscription fee. The subscription fee for most restaurant POS software begins at $69. Large businesses or restaurants that require extra features have to pay extra; sometimes, the monthly subscription fee may even exceed $150 for each terminal.
How Much Will a Restaurant POS System Cost on the Average?
As stated earlier, the restaurant point of sale system is composed of both hardware and software. Thus, serves as more than a cash register. With it, you can manage customers’ orders, payments, keep track of inventory, monitor your sales, and assign your staff varying levels of access.
Most restaurant POS systems’ price range is typically between $79 to $150 monthly for software and an average cost of $799 for the necessary restaurant POS hardware.
What Key Points Should I Consider When Selecting a POS System for My Restaurant?
There are many points and factors to keep in mind while selecting a POS system for your Restaurant. These factors will help you select the POS system that would work best for your Restaurant.
- POS Hardware Requirement – this is one of the vital factors that should influence your choice of POS system for your Restaurant. Find out the necessary hardware requirements for your Restaurant POS from the manufacturers. If you already have POS software, your choice of hardware must be compatible with the existing software.
- Check Out the Method of Ordering and Payment – gone are the days of bulky screens fixed to a specific location of your Restaurant. Now, there are several more improved versions to look out for. Ensure that you select a flexible POS system that allows you to take orders from anywhere in your Restaurant. This feature improves your efficiency greatly and improves the ordering process.
- Inventory Management – the margins of restaurants are slim; for this reason, it is important to take good stock of your inventory. To improve the process, we advise that while looking for a POS system for your Restaurant, you select one with automated inventory taking and management.
- Reporting Capabilities – to improve your restaurants’ chances of succeeding, you need to track your margins, drink, and food sales. These reports are important to your business because they help you make informed decisions on how to improve your profitability.
There are POS systems that help you with this reporting. They monitor your margins and present the data in a way that is easy for you to comprehend. Thus, you can make informed decisions concerning your restaurants.
What Are the Top Restaurant POS Systems?
Now that you know what to check for in a restaurant POS system, you might be interested in learning some of the top POS systems available today. The POS systems on our list have been selected based on cost, support, and general functionality they provide restaurants with.
1. Toast POS System
Toast POS system is designed specifically for restaurants. It comes fully equipped with essential restaurant features such as detailed inventory tracking, payroll management, server, shift management, customized kitchen communication, mobile ordering, and payment features.
- Mobile POS capabilities that allow servers to collect orders in restaurants.
- A customer-facing solution that allows customers to order and pay for services from their phones.
- Dynamic pricing system
- Inventory management
Cost: $75 monthly for each terminal
2. LightSpeed POS
LightSpeed restaurant POS system offers you unique features that help you manage all the aspects of your Restaurant. It allows servers to take orders and receive payments from any location within your store.
- Flexible POS system for restaurants
- Allows you to showcase your menu.
- It can be scaled up to match your business’s growth.
- Efficient menu and inventory management
- Adjustable floor plans to encourage seating.
- Detailed food delivery and sales reporting.
Cost: $69 monthly for each terminal.
ShopKeep POS system is another flexible POS system that improves your restaurants’ efficiency and profitability. It allows for contactless ordering and payments.
- Supports inventory management and reports.
- Staff management.
- Sales report
- Flexible monthly subscription pricing.
4. Square Restaurant POS
Square is a well-known restaurant POS brand. It is great for small and medium-sized restaurants. Square POS offers your Restaurant several vital features and pricing options.
- Menu management
- Efficient inventory control
- Table management and order taking
- Synchronized inventory and delivery
Cost: With the free plan, you get access to the basic features for free. However, the plus plan offers you more features and costs just $60 each month.
There are numerous POS systems designed for restaurants, each with its different features and prices. The cost of a restaurant POS system depends on these features, such as hardware and software. On average, POS systems will cost your Restaurant around % server and shift management $79 to $150 depending on which system you choose. To cut costs, we advise that you buy from providers that offer restaurant POS system bundles.
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