Long-Term Contracts Could be Holding Your Restaurant Back

You want your restaurant to endure any unforeseen circumstances and see a profitable return on your investment. Because longevity is important, you may think that signing long-term contracts with vendors is the best option. After all, “long-term” means more permanence and stability, right? The truth is, signing a long-term contract typically comes with more risk than reward. Allow us to explain why.

Higher Rates

When you choose to enter a long-term contract, you may be signing yourself up to pay more than you should. What happens if the rates from your vendor, credit card processor, or point of sale solution provider start high and then decrease as time goes on? If you’ve signed a long-term contract, the fine print may state that you are locked in to those higher rates. Paying higher rates and fees can seriously impact profits for your restaurant. Instead of getting stuck with one of these multiple-year contracts, look for vendors or providers that offer shorter contracts or even month-to-month options. And remember, everyone has different contracts, so you’ll definitely want to make sure you read it thoroughly before signing. 

Apathetic Customer Service

Another drawback to long-term contracts is that they are often accompanied by lackluster customer support. It may seem like customer service and contracts aren’t related, but they are. If your vendor or provider has you in a long-term contract, that often means they have heavy fees in place for dropping their services. This is typically common knowledge within the company, so everyone knows you’re not a flight risk. This can make customer service team members less motivated to work to keep your business, leaving you without the help you need in times of crisis.

Stagnant Solution

Tying your restaurant to a solitary solution can hold you back as you grow. If you sign a five-year contract with a provider when you start your business, you’ll be locked in to using those same services for that time. This is sometimes a fine option, but what happens if your restaurant takes off running? If you start growing rapidly and are stuck with a solution that doesn’t grow with you, moving forward will be a struggle. Avoid this problem by seeking a solution that includes scalable options. 

The Transparent Solution You Need

We didn’t share all of this information to scare you. We simply want to do our best to keep you informed and moving toward complete restaurant business success ! If you’re in the market for a new point of sale solution, we hope you will consider Total Touch. 

Total Touch is a complete point of sale and business solution for all restaurant concepts, from quick-service pizzerias to premier fine dining rooms. It’s more than a simple, secure way to accept payments. With Total Touch, you can also manage inventory, employee timecards, the kitchen, bar, and more. Take advantage of its flexibility and powerful features from the very first day you open your restaurant and you’ll be miles ahead of the competition. 

Plus, our developers are constantly working to grow this solution based on the changing needs of restaurant owners like you. We seek new integrations, make frequent system updates, and more to make sure that Total Touch is a solution that will grow with your restaurant. 

This complete solution offers incredible value you won’t find with Toast or Clover, including:

Choose Your Payment Processor

Total Touch integrates with most payment processors, so you can work with whomever you choose. If you don’t want to switch, you don’t have to!

Increase Profit Opportunities for Your Restaurant

If you do need a new payment processor, we recommend Electronic Merchant Systems. They are our preferred payment processor, and there are numerous advantages to partnering with both Total Touch and EMS. One of the biggest perks is that you’ll spend less time on the back-and-forth if issues arise and more time focusing on your customers! 

Hybrid Server and Cloud-Based System

Total Touch operates on a hybrid server and cloud-based system, rather than a system that is exclusively cloud-based. This means you’ll experience less downtime and can stop worrying about internet interruptions or limited bandwidth.

Flexible Contracts

You won’t find any long-term contracts or hidden fees here! We offer flexible contract options that will give you peace of mind and help you focus on growing your restaurant business. 

Contact us today to learn more about moving your business forward with Total Touch!

Source: Bankcard Services