A research report published today by TouchBistro on “The State of Full Service Restaurants in 2019” highlights benchmarks on key operational factors that affect profitability for FSR restaurant owners in the U.S. The benchmarks cover adoption of online ordering and mobile payments; staffing challenges, how to find and entice new hires, optimum employee qualities; inventory management and controlling food costs; cost of rent by geographical location and as a percent of sales; funding sources for opening a restaurant and unexpected expenses; POS and payment processor choices and utilization; and average profit margins.Read More >
Restaurants are diversifying the payment methods they accept. Cash, credit, and debit payments are almost universal across full-service restaurants in the U.S., but restaurants are increasingly accepting digital wallets like Apple Pay, Google Pay and Samsung Pay.
As of December 2018, it was found that nearly 20% of FSRs are set up to take all three. These findings are based on an independent study conducted by research firm Maru Matchbox on behalf of TouchBistro in December 2018 of over 500 FSR operators.Read More >
TouchBistro released a report on the state of full-service restaurants in 2019. The point-of-sale company interviewed more than 500 full-serve employees from across the country. Two-thirds of the restaurateurs had five or more years of experience in a senior management role; 95 percent worked at venues with more than 20 seats; and 41 percent were employed at restaurants with 41–80 seats.Read More >
A research report published today by TouchBistro on “The State of Full Service Restaurants in 2019” highlights benchmarks on key operational factors that affect profitability for FSR restaurant owners in the U.S. The benchmarks cover the adoption of online ordering and mobile payments; staffing challenges, how to find and entice new hires, optimum employee qualities; inventory management and controlling food costs; cost of rent by geographical location and as a percent of sales; funding sources for opening a restaurant and unexpected expenses; POS and payment processor choices and utilization; and average profit margins.Read More >
TouchBistro customer 3 Corners Grill & Tap weighs in on the benefits of integrated POS solutions. 3 Corners Grill & Tap (www.3cornersgrill.com), with two locations in the Chicagoland area and a third set to open in April, has several separate networks: one for processing payments made using its TouchBistro (www.touchbistro.com) mobile POS system, a private network for its back-office systems, and a password-protected guest network. “It makes sense for us because it’s the most secure,” says Frank Militello, owner. “Also, guests can use the WiFi without interference from the payments and back-office sides, and vice versa. That’s very important to getting them to engage with us.” Of course, the network must be secure. This can be done by using the most advanced wireless network security protocols, according to Netsurion (www.netsurion.com) and Homebase (www.joinhomebase.com). WPA2 is currently the standard, but that is expected to change by the end of 2019, when more secure WiFi encryption in the form of WPA3 becomes available. Sources note that investing in the most airtight WiFi protocols to secure any network on which mobile payment data is being transmitted is worth the investment, despite the fact that mobile payment services themselves are often very secure. Integrating mobile POS with a labor management system bolsters staff efficiencies by making it possible to generate schedules based on previous and forecasted sales as well as on labor projections. Earlier this year, 3Corners Grill & Tap integrated its mobile POS with its 7shifts (www.7shifts.com) labor management system. “With this integration, our managers are cutting schedules that are more accurate coverage-wise, so our level of productivity is just where it should be,” says Frank Militello, owner. At the same time, he notes, 3Corners Grill & Tap is beginning to realize labor savings from the integration because it enables the enforcement of set schedules. Each time employees clock in on the POS system, their information is transmitted from that system to the labor management system. If they are not scheduled to work at that time, they are prevented from clocking in.Read More >
What are your predictions on 3 top challenges that will have the biggest impact on the merchant payment ecosystem in 2019?
Our CEO, Alex Barrotti weighs in with his predictions for 2019 ahead of the 2019 Merchant Payment Ecosystems Awards taking place in Berlin from February 20-22nd. Excerpt from page 18 of Issue 72. What are your predictions on 3 top challenges that will have the biggest impact on the Merchant Payment Ecosystem in 2019? Payment processors and merchant acquirers will need to develop a strategy for the integration of the payment device with software vendors. Payment processors and acquirers will start to view POS and software solution providers as a channel that can bring them customers and augment their sales. The PayFac business model will start to appear in other markets besides just the United States. What trends do you think will drive B2C online payments in 2019? Online ordering with food delivery services will continue to gain popularity. What will be the key drivers of B2C mobile payments in 2019? More and more stores will adopt the Apple Store model of eliminating checkout counters, allowing sales associates to take payments anywhere in the store on their mobile devices. How do see Open APIs are changing Merchant Payments and Services in Europe? No single app is an island anymore. Interoperability between disparate systems is more and more expected, and published open APIs is the only way to achieve that, whether in Europe or anyplace else in the world. Could you outline key trends that will define security and authentication in 2019? Biometric authentication will be used by more systems to augment their security procedures. What’s next for Card Acquiring in 2019? The ISO model is dying and being replaced by ISV. Value added software solutions integrated with payment are what will drive growth in the channel for the next year and beyond.Read More >
It hasn’t been an easy time for operators — escalating operational costs, labour shortages, more stringent health-and-safety requirements and an increasingly competitive landscape are playing a part in driving their equipment decisions. Connecting the Dots While it might be less obvious, integration between the front- and back-of-house operations can deliver huge cost and labour savings, from remote equipment monitoring to self-server ordering kiosks to tablet-based ordering. Alex Barrotti, founder and CEO of TouchBistro in Toronto says there are constant requests for back-of-house integration with tablet-based ordering systems. “Instead of them having to go back and forth to access the POS, you can place the order at the table or kiosk. If every waiter has an iPad, you can do a lot more with less staff. Operators are able to add more food-and-drink runners so a server, instead of a four-table section, can take eight.” That’s not the only POS integration available to restaurateurs, he adds. “Operations can also integrate ordering systems, menu boards, alcohol metering and inventory control with today’s new POS systems.”Read More >