Which POS Software is Best for Your Restaurant?

The Point-of-Sale (POS) software for restaurants is an all-in-one software used by owners to manage the billing and inventory, run reports, and more. However, with so many competent POS systems for restaurants, how do you choose the ideal one for your business? Each has its unique features, and it can be difficult to find and choose the right one that meets your needs.

This article is for you if you’re looking to switch or get a new restaurant POS system. Not every POS system is designed for every restaurant. Your restaurant operations are unique as compared to others, so you will have to look for a POS system that meets your business requirements and help you achieve your objectives.  

All you need to do is write down your objectives and read our list of top picks and choose the POS system that is best for your restaurant. 

Best POS Softwares for restaurants

These are the best POS software providers for restaurants in 2024, including :

1. Lightspeed

Lightspeed is an industry-specific POS system with integrated payment processing, hardware, and other advanced features. It is ideal for restaurants, cafes, and bars seeking better insight into server performance and actionable data. Lightspeed has advanced inventory management tools, and a restaurant with a larger or more complex inventory can benefit from them. It also helps provide detailed reports on sales, products, staff performance, and end-of-day summaries. 

• Ideal for: Cafe owners and retaining loyal customers
• Free trial: 14-days
• Starting Price: Starting from $69/month
• Transaction Fees: Starting from 2.6% + $0.10

Pros

• 24/7 customer support

• Excellent menu customization
• Automatically reminds staff of promotions, discounts, and age verification
• Ideal for retail stores with barcoded inventory

Cons

• More expensive than other alternatives

• The user interface might be challenging for new customers
• Doesn’t integrate with weighing scales

2. Revel

Revel offers a comprehensive POS solution for multi-location restaurants that ensures seamless adaptation to marketplace changes. Revel features include easy menu updates in several restaurant locations, detailed reports for revenue analysis, and a seamless, customizable interface, helping optimize operations efficiency.

• Ideal for: Larger restaurants with multiple locations
• Free trial: Not available
• Starting Price: Custom
• Transaction Fees: Quote-Based

Pros

• Exceptional back-office tools

• Multiple capabilities 
• Customizable interface
• Seamless integration with many software
• Comprehensive reporting system

Cons 

• Pricing isn’t transparent
• No free trial
• Cumbersome setup

3. Clover

Clover offers a comprehensive POS solution along with an easy user interface, ideal for small and medium-sized restaurants. It offers the best hardware options and fingerprint logins and is fully customizable so that it can integrate both hardware and software. Clover also offers access to comprehensive reporting and analysis, including real-time sales tracking, detailed tax reports, and cost analysis by items, empowering restaurants to make informed decisions.

• Ideal for: Reports and analytics
• Free trial: 14-90 days
• Starting Price: Starting from $60/month
• Transaction Fees: Starting from 2.3% + $0.10

Pros

• Excellent design and easy user interface

• Well-designed hardware
• Exceptional team management features
• Seamless integration with popular accounting software, like QuickBooks
• Free trial available

Cons

• Quiet expensive hardware

• Complex pricing
• No inter-store transactions
• Additional features need additional charges

4. Square

Square is one of the best POS systems for small restaurant and bar owners who are seeking to optimize order management and enhance customer service. Square POS is a dependable, affordable, along feature-rich plan. It’s flexible in terms of both hardware and software, making it a suitable choice for most hospitality vendors.

• Ideal for: Single-location food businesses
• Free Trial: 30-day
• Starting Price: Free Plan
• Transaction Fees: Starting from 2.6% + $0.10

Pros:

• Comprehensive free plan
• User-friendly interface
• Fully operational in offline mode
• Slick and stylish hardware
• Accept diverse payment options

Cons: 

• High fees for larger organizations
• Support options vary by plan
• Account stability issues
• Not ideal for high-risk industries

5. Toast

Toast is a built-on Android-POS operating system designed for restaurants, clubs, and bars. Its hardware has super-resilient screens and feature-rich software, making it an ideal option for most food businesses. Toast includes exceptional features like contactless ordering and paying using Apple Pay for restaurants looking to manage their on-premises and online ordering and payments. Moreover, Toast’s expensive plan simplifies online ordering and attracts new customers with its commission-free delivery.

• Ideal for: Online order and delivery
• Free trial: Free Plan
• Starting Price: Starting from $69/month
• Transaction Fees: Quote-based

Pros:

•  Great for Android users
• Strong menu customization
• Support for tableside ordering and payment
• Labor cost tracking
• Optional in-house payroll software
• Excellent employee management

Cons:

• No integrated payment processors
• Limited help & support offered
• Limited transaction fee transparency

Ideal Cost to Invest in POS System For Restaurants

It is challenging to provide an accurate estimate of the cost of restaurant POS software, as the cost depends on various factors.

• The size of your premise, like a small cafe or large layout
• Number of POS terminals you will require
• Number of locations your restaurant is operating
• Any unique feature you require to satisfy your needs, or you will require in future

Let’s break down the cost associated with the POS system to get a rough estimate.

1. The subscription to the POS system for a single terminal may cost between $15 and $100. The subscription cost might increase substantially as the number of terminals increases, which is estimated to be around $29 to over $1000.
2. Transaction fees are also charged, ranging between 1.5% and 3.5% per transaction. A card-based US restaurant earning a monthly revenue of $40,500 will have to pay around $1012.50 in transaction fees monthly if the average transaction cost is $2.5%.
3. The hardware costs are also to be calculated, and they might be expensive. A basic restaurant set-up requires a POS terminal, cash drawer, and card reader, which would cost around $200 to $1,500. The price may increase if you require advanced hardware, like iPads and kitchen display systems. 

Overall, a small restaurant with basic and modest POS software needs will have to pay $2,000 upfront for the hardware and $15 monthly for a simple POS software subscription. However, large restaurants or chains will have to invest around $1,500 – $2,000 for a decent and comprehensive terminal setup and $150 monthly for a decent POS software subscription. 

How to Choose the Best POS Software for Your Restaurant?

Here’s a guide to assist you on how to select the right POS software for your restaurant:

• Cost Assessment

To begin with, consider your budget constraints and the total cost of ownership. This includes not just the software but also hardware costs and any additional fees for support or upgrades. Some POS systems may have lower upfront costs but higher monthly fees, while others might require a larger initial investment but offer lower ongoing expenses.

• Customer Experience

Customer experience should be a top priority. Choose a POS system that allows for easy check splitting, table management, and mobile payments. These features can significantly enhance customer satisfaction and streamline service.

For your staff, opt for a user-friendly interface. An intuitive system reduces training time and minimizes errors. Look for features like easy clock-in/out and simple menu navigation.

• Data Access and Control

Data access and control are essential for effective management. Select a cloud-based system that provides real-time access to your restaurant’s data from any location. It allows you to make quick decisions and updates without being physically present at the restaurant.

• Reporting

Restaurants store a lot of data related to transactions and customers. For better outcomes of this data, such as what the products sell best on which days and times, look for POS software that allows you to generate real-time reports. You can also use this software to analyze your staff performance, labor costs, food costs, and engagement of new customers.

• Inventory

Undoubtedly, restaurants have to operate within tight margins. So, look for a POS that streamlines your inventory management. It should be effortless for you to track the whereabouts of your ingredients and products, giving you better insights into what’s happening with your inventory. It will also enable you to communicate more effectively when placing orders or deciding when to stop reordering specific things.

• Speed

Whatever kind of restaurant you own, providing prompt service is ultimately crucial. There’s a limited amount of time you have to maximize your revenue-generating prospects. It implies giving customers, waiting staff, bar staff, cooks, and management a flawless dining and working experience. A POS system shouldn’t slow that process down.

All of these factors simplify the sorting process, and you can select the top 3 POS software for your restaurant business. 

The Bottom Line, 

Writing down your list of objectives, choosing the parameters, and then looking for a POS system streamlines the work for many restaurants owners and managers. Besides, just using a POS system, you can also use restaurant operation management software, which simplifies other operations of restaurant management. 

For instance: hiring and training employees and staff, managing their attendance, modernizing the audit process, virtual merchandizing, and others. Taqtics is your one-stop solution if you are looking for a such a solution as well. Visit the website today and try Taqtics through a demo today.  

Frequently Asked Questions (FAQs)

• What is the best POS software for fast-food restaurants?

Some of the best POS software for fast food restaurants are:

• Square
• Toast
• Lightspeed
• Revel
• Clover

• How much does restaurant manager POS software cost?

Restaurant manager POS software usually costs between $50 and $250 per month. However, this price can vary depending on the type of POS software.

• What POS software does Starbucks use?

Starbucks uses Oracle Symphony, an all-in-one comprehensive POS solution designed for the restaurant industry. 

• Which POS software does KFC use?

KFC uses Oracle’s MICRO RES POS system for streamlining its workflow and payments.

• What is basic POS software?

Point-of-sale (POS) is a tool used by businesses to process transitions by retail customers. POS software allows you to find products in your library and ring up sales. It also provides sales reporting, revenue boost, customer engagement software, inventory management, and more.

Soumyajit