Point of Sale (POS) Systems
Point-of-sale systems help franchisors and franchisees manage all aspects of their business.
For today’s franchisees, the days of point of sale (POS) cash registers being used only to ring up sales are long gone. Point of sale systems are now being used for everything from tracking inventory to scheduling employees. In today’s environment, franchise operators need much more than just the old point of sale cash register.
The cutting-edge point of sale capabilities now provided to retailers and franchisees, include scheduling and cash flow management. These point of sale systems have gone far beyond point-of-sale. They’ve become management tools, allowing franchise operators to more effectively manage their business and squeeze out more profits.
In addition to developing point of sale systems software and aiding in point of sale software implementation, some companies now offer 24/7 help-desk systems support to their clients. There are point-of-sale systems solutions providers with high-profile client lists that use these help desk services. Using their knowledge of franchising, these companies can help their client base of users with every aspect of operating the point-of-sale systems, from initial implementation to everyday use.
Some of these companies also provide on-site training in the point of sale systems for franchisees and their employees — training that’s sometimes covered by a point of sale system’s franchise fees. In other cases, the franchisee independently contracts.
The best thing for franchisees–and their franchisor–is to implement a single point-of-sale system wide solution. According to Lewis, having a standard point of sale system can make it easier to track sales and introduce new products.
The point of sale systems can also be used to make promotions run smoothly. In the case of McDonald’s Beanie Baby promotion, for example, in some locations, the stock of toys was depleted in a matter of hours. But in certain parts of the country, the demand wasn’t really there. With a point of sale system wide solution, McDonald’s now has access to information about the success of their promotions within a matter of hours and can determine if they need to reallocate inventory. If they could have diverted that Beanie Baby inventory to locations where there was a lot of demand, it would have helped their franchisees.
By providing that kind of data to franchisees and franchisors, this new generation of point-of-sale systems ensures businesses run more smoothly…and perhaps more profitably to boot. In terms of just pure information, the franchisee now has more timely information about their business. And once they have that information, they can do a much better job of managing that business overall.