Point-of-sale (software) serves as the foundation for any restaurant business. It not only allows a business to securely accept customer payments, it also keeps the flow of the restaurant or food establishment moving forward. The average POS system can cost anywhere between $500 and $3000 per station, which can be completely out of reach for a new or budget-challenged business. For a business owner, choosing a POS system is one of the most important decisions they will have to make, one that can make or break them from the start.
Fortunately, there are a lot of options out there for businesses today, including renting the equipment and having that cost built into their monthly fee. Renting can increase purchasing power for an owner but allows them to get a more powerful system that can increase return on investment (ROI) immediately. Renting a system allows for a merchant to get more in the short run than what they might have otherwise been able to afford, such as more terminals or digital signage.
HaaS is a rental agreement that provides additional services, such as support and maintenance, offering the merchant a more complete service. All aspects of the hardware are covered under the agreement, ensuring that the business owner benefits for the stated period of time. Since the service is outsourced to a service provider, there is no worry about if things are working properly, as it is the responsibility of the provider who is entrusted to make sure all issues are resolved quickly and efficiently with minimal involvement from the renter.
It is important for a business owner to ask themselves the crucial questions when looking into POS options while considering the benefits of renting. How much money does the business generate on a monthly basis? Are there any potential expenditure coming up that will require the business to hold on to more cash? There is a wide range of benefits for merchants using HaaS—here are seven reasons why it could be better to rent.
1. A Flexible Solution
Merchants can enjoy total flexibility with renting a POS system. They can grow their business and have access to more hardware, or they can downsize and have their provider remove whatever is no longer needed. They can end their agreement if the system is not working for them or upgrade to a different system. There is more flexibility in renting than simply writing a check upfront for a full system.
2. Total Support and Complete Maintenance
Things can go wrong with a POS system, which can make it a total no brainer why business owners may want to rent as opposed to outright purchasing. Renting a POS system comes with maintenance for any physical issues to the device and customer support to help with any day-to-day questions. HaaS is a fully managed service, with all of the monitoring, maintenance, and support wrapped up into a neat package for the customer.
3. No Initial Investment
Because the merchant is renting the hardware, as opposed to purchasing outright, there is no upfront initial investment. The business owner is provided all new equipment without any of the expenses that are typically associated with upgrading.
4. Reduced Overhead
Haas reduces overhead and lowers the overall operating costs of a business. The service is an excellent way for a merchant to budget accordingly and have a clear idea of what to expect every month when it comes to POS costs.
5. Enhance Operations
Renting a POS system will help with streamlining processes and minimizing downtime, especially when working with updated and efficient equipment. It can be expensive purchasing a POS system that comes with a lot of features, which is where HaaS shines. A business owner can rent an upgraded piece of equipment without breaking their bank.
6. Increased Security
Not only are maintenance and support included in standard HaaS agreements, but so is security. Business owners can have a peace of mind knowing that their POS system will come with strong security features, keeping their customer data safe and secure without any hassle.
7. Convenience and Simplicity
The last thing a business owner needs is more stress on their plate. Hardware as a Service offers complete convenience and simplicity. There is never a need for them to worry about their POS system because they have someone else taking care of it. That means a merchant can focus their time and energy on other aspects of their business.
To get started accepting payments from customers, every restaurant or food establishment needs a POS system. Not only do POS systems offer convenience and functionality for the business owners, they offer patrons options for payment and trust of mind that their data is safe. A POS system will also help get customers out as quickly as possible, increasing overall sales. Though the right software is what offers many of these features, it is important to choose the right hardware to fit the needs and support the business. Hardware as a Service offers ease of mind for merchants who are busy with other aspects of their business—offering a full maintenance, monitoring, security, and support package. It is important for merchants to know their options in order to make the right decision, whether that be buying outright or renting.