How do you like your coffee? The staple beverage has become part of almost everyone’s morning routine, common ground for work breaks and social chats, and a guaranteed-to-please token of appreciation. With that kind of popularity, it’s no surprise that the $5.2 billion Canadian coffee and snack shop industry is expected to see a 2.5% growth in 2023.
The allure of owning a coffee shop is obvious. Aside from having a passion for freshly ground java, owning a coffee shop means you can create the business you envision and establish a place for the community to come together as part of their daily routine. For many, the main appeal of owning a coffee shop is financial. With relatively low start-up costs and a broad customer base, owning a coffee shop is a viable option for many entrepreneurs.
A coffee shop POS system is essential for startups and established cafes to ensure not only a successful first year but also year-over-year growth. From increasing dollars per transaction to higher margins, a coffee shop POS system can help.
Whether your business model is based on a counter-service café or a mobile coffee cart, memorable and efficient customer service is the key to creating customer loyalty. Balancing convenience and quick transactions with personalized service and friendly connections can be achieved with a coffee shop POS system that enables staff to serve a great customer experience with every order. A coffee shop POS system that is easy to navigate makes training new employees, even those with no cashier experience, a smoother experience for all, with fewer delays on those first cashier-in-training shifts. Offering customers a variety of cashless payment options, an all-in-one system makes transactions quick and error-free. The convenience of chip-enabled debit and credit cards and digital wallets (such as Apple Pay, Google Pay, and Samsung Pay) give customers the option to simply tap their card, smartphone, or smartwatch near the reader, so they can be on their way. With less stress and time spent fumbling through a non-intuitive system, employees can focus on what matters – your customers.
Reliable Inventory Monitoring
With a growing number of chain and independent coffee shops popping up, differentiating your shop and creating a memorable brand in customers’ minds will help make you the go-to destination. Expanding beyond coffee is one way to create a niche in the marketplace. Examples of products your coffee shop can offer include gifts, books, or local art. When thinking of complementary products, the options are endless, from pastries and baked goods to freshly roasted bags of beans and branded merchandise. Expanding beyond coffee doesn’t need to be a guessing game with a reliable inventory management system that tracks the quantity of products on hand, clearly shows how many items are on-order, and easily stores vendor information. A coffee shop POS solution with built-in inventory tools tracks the supplies needed for the coffee side of the business as well, with alerts when items are running low and quick-order options to ensure you’re not running out of products during high-peak times. Real-time inventory monitoring also helps you keep a handle on loss reduction, whether from excess waste or employee theft. Addressing these types of inventory anomalies will help keep your team in check and save your bottom line.
Useful Sales and Product Reports
Adopting a change-ready mindset with a willingness to adapt to the needs of your customers and market is a vital part of business success, especially for coffee shops. Managing a busy café means juggling many responsibilities. A coffee shop POS system with built-in reports is a necessary tool to ensure you don’t drop the ball. Viewing up-to-the-second data lets you know what is selling and what isn’t – giving you the insights to fine-tune products and prices to play into your store’s strengths and take advantage of opportunities that arise. Sales reports from previous periods provide a broad picture for informed sales forecasting to optimize staffing and inventory stock. In addition, a coffee shop POS system that includes a visual dashboard with color-coded indicators to receive alerts at-a-glance when items are selling near or below cost, so you’re not caught off-guard with lost profits due to increasing supplier costs.
To grow and evolve in the coffee shop business, you need to listen to your customers, employees, and financials. A coffee shop POS system can give you the tools to effectively manage your coffee shop, increase sales with customer-focused experiences, and maximize profits with reliable inventory monitoring and practical reports. A sleek and easy to use coffee shop POS solution, such as ClearTEQ POS, will help you and your employees set the perfect vibe for the café you envision. Want to know more about point of sale and payment processing for your coffee, tea, or snack shop? Contact us today.