Three Affordable Alternatives for POS Financing

What alternatives do you have if you don’t want to purchase a POS system for your restaurant?

POS System Purchase Alternatives

POS systems are commonly used for ordering, inventory control, payment processing, and data storage for bars and restaurants; however, buying a POS is not for everyone. A POS system is useful because it allows restaurants to accept payments and keep track of sales and other data. 

As you search for the best resources for accepting and managing payments and running their restaurants, it’s important to understand the benefits of POS purchase alternatives. POS systems are an investment — and as with any investment — you deserve a return. These alternatives can help you jumpstart your restaurant, regardless of whether you can invest in a POS system upfront.

Cash Advance

If restaurants don’t have the funds to purchase a POS system, a cash advance alternative might be a great option. Obtaining a business cash advance can free up the money you need to buy and maintain your system without having the capital upfront. 

With a cash advance, bars and restaurant owners can get the funding they need to obtain their POS system. Their system should then provide them with enough Return on Investment (ROI) to steadily pay their cash advance and make a profit. 

A cash advance is a great option for new restaurants without the money to outright buy their POS systems but who see the value in ownership.

POS Solution Leasing

There are plenty of restaurants out there that aren’t interested in buying a POS system. You may not be ready to take the plunge as to get your restaurant off the ground, or perhaps owning a POS system doesn’t mesh well with your business. 

If you don’t want to buy a POS system, leasing is a viable alternative (like the $0 cost lease from Total Touch POS). This option enables you to utilize all the benefits of a great POS system without the large upfront costs. Leasing a POS system will give you a powerful restaurant management solution with monthly payments for the duration of the lease until it is renewed or you opt for purchase. 

While this option may cost more over time than simply buying a POS system, it could be helpful when you are start a restaurants or looking to make your restaurant more profitable, don’t have the money to invest out of pocket, or simply don’t see the value of investing yet. 

An example would be the Total Touch Bundle and PayBack Program. This bundle includes everything a restaurant needs to improve efficiency and profitability.

POS Subscription Models

Another option for bars, nightclubs, and restaurants is the POS SaaS (software as a service) model. This subscription-based hardware and software for point-of-sale service help restaurants reduce upfront costs and gives you all the support and service you need for an affordable monthly fee. 

With SaaS model POS, restaurants don’t have to purchase software, hardware, and other components of POS systems. Instead, you can access everything they need through a monthly subscription, especially with the benefit of a hybrid POS solution.

This is a great way for new restaurants to get started without the additional expense of buying a POS system. It’s also a useful option for those not ready to invest in a POS system.