Restaurant POS News

"Rent" v.s Buy Your Point of Sale - Advice from Heartland Restaurant

Jul 21, 2020 10:29:11 AM / by Lynn Skurla Perkins

Here is some advice and perspective for restaurant owners from Heartland Restaurant  - and we wanted to share with you:

In the restaurant space, many businesses used to be fine with dropping $30K upfront on equipment and installation, but with shrinking margins and rising operating costs, that number is dangerous on a number of fronts. Not only is it intimidating and a hit to any business’s regular cash flow, but it’s an enormous risk.

Cost Management - Business Concept. Green Arrow with Cost Management Slogan on a Grey Background. 3D Render.

But with an ‘As-a-Service’ / rental model, you eliminate that risk almost entirely. Monthly payments mean you rent the software and the hardware instead of owning it.

Renting your POS has several advantages:

  1. No huge payment upfront. Without having to worry about a super-sized dip in cash flow, you can take installation of a new system in stride. The rental model spreads the cost over the lifetime of your use.
  2. Predictable expenditures. Rather than the erratic expenses you incur from month to month due to unexpected support, maintenance, product updates, and miscellaneous fees, you pay a fixed price each month that includes everything. No need to rework your budget every month.
  3. Global leverage. By renting your POS from a trusted, established provider, you harness their power, scale, expertise, technology, and service/support.
  4. Eliminating capital expenditure. You can rent everything in this model, including the hardware. So you can use that capital for other uses like system expansion, debt reduction and increased dividends.

If you have questions on how this could work for your restaurant, please give us a call at 907-243-2683.  Or fill out the contact form below:

Get a Free Consult to Help Your Business Now!

 

 

Tags: Point of Sale (POS), Heartland Restaurant

Lynn Skurla Perkins

Written by Lynn Skurla Perkins

Lynn grew up in the point of sale and cash register industry working in the family business – and is now at the helm of Skurla's POS Solutions. She enjoys working with local Alaskan businesses, especially restaurants, grocery stores, and retail operations - helping them control costs and increase revenues through well managed point of sale solutions. Besides running the company, Lynn has also served on the Board of Directors, and as Chairman of the Board, for the Retail Solutions Provider Association. In her spare time, she loves cooking, camping and volunteering with organizations that are passionate about helping children.

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