Fees for a Restaurant Point of Sale System

Before you purchase a new restaurant point of sale system, it’s important to understand all of the costs involved. Not only do you have to buy the actual equipment for processing credit cards and other forms of payment, but you also have to get a merchant account to process those payments. If you’re interested in one of the full service restaurant POS systems, then you will need software in addition to the hardware. Knowing what you need and what each element will cost you can help you determine which system is the most affordable for you. 

Restaurant Point of Sale Equipment Fees
The cost of equipment for restaurant payment processing and management depends mostly on the type of restaurant you have. Obviously, small, low maintenance establishments won’t need the same size systems as large restaurants.

A small coffee shop that doesn’t have thousands to spend on an elaborate system can get by with a small, simple credit card terminal. These terminals can do everything from authorizing and processing credit cards to printing out receipts. They can often be purchased for a few hundred dollars or leased on a monthly basis. On the other hand, a full service restaurant and bar will require one or more computers to accommodate POS software that can handle multiple duties, including credit card processing, reservations, taking and printing orders, employee schedules, and sales reports. These computers require a larger investment than the credit card terminals and most large restaurants need more than one. Depending on your needs and your available capital, you need to decide if you want to spend anywhere from $1500 to over $4000 upfront for each computer or lease them on a monthly basis.

With all of those computers, you’ll need POS software to help you run your restaurant. Depending on which software you choose, the initial price will usually run between $200 and $600. However, if you have multiple computers and you need to run that software on all of those computers, you may need to purchase multiple licenses to be able to do that. Those extra licenses can be as much as $300 each or more, so be sure to plan a budget that includes those licenses.

Miscellaneous Costs
When focusing on the big ticket items for your business, you may forget the little things that can add up over time. Every printer needs paper and ink to work and even though they aren’t expensive, if business is good, they will both run out quickly. Buy them in bulk to save money and keep them in stock.

Prices on all restaurant point of sale equipment vary dramatically depending on where you look, and many places only offer quotes based on your specific needs instead of flat rates. Make sure you shop around and get a variety of quotes before choosing one system or company.

Merchant Account Fees
More fees you need to consider for POS systems are your merchant account fees. These usually include a monthly account fee, a monthly minimum fee, a small percentage of each credit card transaction, and a flat rate for each transaction. One way to save some money on your hardware is through your merchant account provider. Some providers offer discounts or even free use of equipment when you use their services.

You can easily lose track of all of the different fees involved with purchasing restaurant point of sale equipment and setting up a merchant account. But if you know in advance what you’re paying for, you can be prepared for all of those fees.

Get more restaurant point of sale information and advice from North American Bancard:

The Different Types of Restaurant POS Systems
Learn about the different types of POS systems and find out which one is right for your business.

Restaurant Point of Sale Software
POS software is both an organization tool and a payment processing system. Learn more about what this software can do for you.

Choosing a Point of Sale System
There is a POS system for every type of restaurant. Discover what kind of system you need, whether you own a fast food place or a full service dining establishment.

How to Get Free Restaurant Point of Sale Equipment
It is possible to get free equipment if you know where to look. Read this article to find out how to get that free POS equipment.