The top 3 struggles restaurant owners face and how to overcome them - Abacus

The top 3 struggles restaurant owners face and how to overcome them

Catering for others on a large scale is a passion shared by many people who want to go into the restaurant industry. However, a love of food and hospitality has to be combined with the fact that you are running a business.

 

The top 3 struggles that restaurant owners face on a daily basis can be linked to finance, management and competition. Fortunately, there is a way in which you can streamline your business and free yourself up to do the part of the job that you do enjoy, whilst still keeping an eye on the practicalities of being the owner of a company.

 

Finance

 

Once you have got the start-up funding to get your restaurant up and running, you still have to keep track of any loans, interest rates and budget. If you are working 24/7, which is generally the case in the hospitality industry, having time to monitor money coming in and out is going to be a struggle. Hiring and paying staff is another area that you have to keep on top of, as well as ensure that your taxes are in order.

 

The beauty of a multi-functioning restaurant POS (point of sale) system is that it is able to track staffing hours, populate timesheets, and also ensure that tips and gratuities are accounted for, which is a bonus when it comes to putting in an accurate tax record.

 

Management

 

Ensuring that you are offering the best food and drink is very important, but so is the customer service that comes with it. Limited time and the need to ensure staff are properly trained means you need to look at using a system that will free you up from the more tedious tasks.

 

A POS system that tracks stock levels with pre-set ordering means you don’t have to add this to the already long “to do” list. Instead you can concentrate on the front of house service, knowing that your staff have all they need to get on and deliver a great product. Having an interface that is personalised and easy to use means less mistakes on the part of your staff, and you can also track any errors or problems related to cash flow.

 

Competition

 

The food and drink industry is very competitive, and having a unique selling point is the difference between customers walking into your restaurant or the one next door. Giving them the ability to pay in the way they want to, i.e. contactless, via their mobile device, etc., is a good way to retain customer loyalty.

 

With a POS that frees up your time you are able to focus on developing your brand. Even better, a POS that allows you to customise the interface is all part of that brand, and a good system will also allow you to gather information about your clientele that you can use to boost your marketing potential.

 

Are you a restaurant, café, fine foods or food service business owner? Abacus offers a comprehensive POS solution for restaurants, food service businesses, fine food businesses and cafés to enable you to run a more streamlined and productive business. Find out how Abacus POS can change the way you run your business and enhance your customer’s experience. Contact us today for more information!

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