Should a home-based business adopt a POS system?

Many F&B entrepreneurs are starting their businesses from home. This can be attributed to the low start-up cost of home-based businesses, making it the perfect test bed for trying out new F&B concepts and business strategies.

However, bookkeeping may be tough and time-consuming without a proper system. Hence, lets find out in this article if a home-based F&B business should adopt a POS system.

Keep track of sales

Many home-based F&B businesses keep track of sales manually through an excel sheet or through written invoices. While workable, it may be tedious to upkeep. Furthermore, manual sales record keeping methods are not able to provide you with powerful reporting with drill-down capabilities for meaningful data analysis for your home-based F&B business.

On the other hand, POS systems provide an automated method of sales transaction tracking and also, consolidates data to provide you with reports that gives you valuable insights to different aspects of your home-based F&B business. This is essential so that you can make tweaks to aspects that require adjustments.

Customer management

Every F&B business requires its own base of return customers. In order to promote customer retention, you could consider coming up with your own points and rewards system. While it may be tedious to manage customer relationships though manual book keeping methods, POS systems helps you to simplify customer relationship management.

A POS system links up sales transactions to your customer’s data. The POS system allows you to pre-set dollar to reward points parameters. This automates membership points management and frees up the time you spend on book-keeping for other meaningful tasks.

On top of that, with a POS system, your customers’ past purchase records are at your fingertips. You could offer suggestions to your return customers based on their past purchases to provide a more personalized touch, which in turn, helps to boost customer loyalty.

Easy to scale

Finding success with your home-based business and looking to scale your business with an outlet or two? A POS system makes it easy to do so. By adopting POS systems at your outlets, you are able to ensure that your products, prices and promotions are standardized across all outlets, protraying a uniformed brand identity.

Managing outlets with a POS system is made even easier with cloud capabilities. You are able to remotely view data of single or multiple outlets to perform analytics, perform timely updates to your POS system menu and pricing through a single online backend portal. 

In addition, your POS system’s backend settings are backed up in the online backend portal. Deploying a new POS system to replace to old one, or to a new outlet is as simple as plugging it in and clicking a button to download POS settings backed up from your other outlets.

Getting a cloud-based POS system for your business

Interested in the perks that a cloud-based POS system brings to your home-based F&B business? Simply leave your contact information with MEGAPOS below, and we will be happy to arrange a free demo with you!