Setting the Bar High: Choosing the Right POS for Your Bar/Nightclub Concept
Case Study: Electric Cowboy
Subject: Troy Guidash, President of Operations, Electric Cowboy
Industry: Nightclub & Bar
As a 23 year veteran of the bar and nightclub industry, Troy Guidash knows a thing or two about how to run a successful business. Guidash is the President of Operations for Electric Cowboy, a Country and Dance Bar & Nightclub with locations scattered all over the south. The kind of success Guidash now enjoys with Electric Cowboy has come from years of hard work, research, and making the right decisions for his business – most notably, choosing the right POS system to encompass the needs of a high volume bar or nightclub concept.
POS TECHNOLOGY & YOUR BAR: DO YOU REALLY NEED IT?
Technology and business have always gone hand in hand; in today’s times, the combination is more critical than ever before.
The short answer is: YES! You definitely do need POS technology in your venue. Not staying current with technology can absolutely make or break your business. No one likes to lose money; if you are currently operating your bar/nightclub without a POS system at all, the profit loss you are experiencing every day is probably much greater than you realize.
As you can see, that is a large chunk of potential profits you are missing out on every single day you go without a POS system. If you’ve been hesitant about obtaining a POS for your business, that’s certainly understandable – no matter which company you ultimately choose to go with, the price tag won’t be cheap. However, the profits that start rolling in once the POS is in place will pay for the cost of the system quite quickly.
“If you aren’t using POS terminals in your venue, then you are missing out on opportunities. Without a POS system in place, you’re looking at taking at least 15% to 20% of potential profits right out of your own pocket,” states Troy Guidash, Electric Cowboy.
INDUSTRY SPECIFIC POS TECHNOLOGY
The bar/nightclub industry has specific needs when it comes to a point-of-sale system.
The pace is fast, the hours are late, and the importance of security is a particular concern. Live 24/7/365 customer support is a must, especially since the holidays can be some of the busiest times of the year for bars and nightclubs. It is essential that the POS technology you choose for your business will be able to support the above mentioned needs, and that’s at a minimum. Ideally, you need one company that can encompass all of your needs – as well as your specific format and your brand.
FINANCIAL & STRATEGIC BENEFITS
Speed and accuracy of service
Customer support that’s always available
Technology that supports YOUR specific format and brand
Top notch cash management
Immediate drop in labor costs
Immediate increase in sales
Added security that saves you money
Lower in cost than competitors
Staying current with technology
Whether you’re looking for your first POS system, or you want to replace the faulty one you currently use, the concept is still the same – you need the right fit for your business and concept. In Guidash’s case, it took a few years of research and some unfortunate experiences with other POS companies before finding the POS that truly met his needs.
“I needed a POS system that could encompass my venue’s needs, format and brand. After implementing the Revention’s POS system, the positive results were immediate. We were able to drop labor about 10% right away. As for sales, those increased anywhere from 15% to 25%,” Guidash revealed in an interview.
MAKING THE RIGHT CHOICE
Choosing the right point of sale system for your business is absolutely imperative.
Ease of use, speed of service and customizable graphics create a rock solid foundation for a fast paced bar/nightclub environment. The pace of a bar/nightclub is extremely fast, especially if you are a high volume venue like Electric Cowboy. Even if you aren’t high volume now, you want to be - and speed of service is the key. Your bartenders need to be able to take orders quickly and accurately. On top of that, the management of numerous bar tabs should be as simple as possible.
Your bar/nightclub needs high quality live technical support 24/7/365 days a year – no excuses.
When choosing a POS for your business, knowing the quality and availability of technical support the provider offers is essential. Don’t make the mistake of thinking about this element AFTER you purchase a system - for bars/nightclubs, late hours and holidays are extremely busy times. What if something happens and your whole system goes down at midnight on a Friday? This is unacceptable.
“The bar business is not a 9 to 5 one, so if and when I need technical support, it’s going to be during late hours of the night. 24/7/365 support is great; there’s actually someone there at the call center that can always help me out - at any time of the night. Electric Cowboy is a high volume nightclub, so if the credit card terminal or systems go down, we need support and we need it FAST. The 24/7 support team Revention POS provides makes sure we get it,” says Guidash.
SECURE YOUR BUSINESS ON EVERY LEVEL
The right POS company will be able to provide you with numerous security measures to protect your business.
The importance of cash control and audit tools is critical to your bottom line. You need to be able to check up on your bar/nightclub at every level to ensure your cash is going into your business and not into someone else’s pocket or down the drain.
Cash Management includes far more than just end of day reports – it extends all the way to security measures such as theft protection and employee labor monitoring. Advanced features like biometric fingerprint authentication and security camera integration take business security to the next level. The right POS company can provide all of this for you. A POS system that provides a biometric fingerprint authentication function can secure your business significantly in several different areas. Revention POS provides this feature.
Guidash on security: “Think of cash management just as you would any other business necessity, as basic electricity, plumbing, and the Internet. You need modern technology for handling your cash if you want to run a business.”
One of the really great things about Revention’s POS system is definitely the biometric time clock. We were really able to watch labor drop quickly with this feature.
If employees can only clock in and out with their own fingerprint, human error and internal theft are significantly reduced or even eliminated altogether,” Guidash reveals.
THE POWER OF A POINT OF SALE SYSTEM
Increased Performance Across the Board
“After implementing Revention’s POS system, the positive results were immediate. We were able to drop labor about 10% right away. As for sales, those increased anywhere from 15% to 25%,” Guidash states.
It is clear to see that if your sales increase as much as 25% right away, and labor costs go down 10% at the same time, you’re looking at an immediate and significant escalation in profit. All this, from simply investing in the right POS system.
There is no one magic solution for success. However, there is one element in particular that can kick start all aspects of your business and help you achieve higher levels of success – investing in a POS system.
Click here to read Revention's full interview with Troy Guidash
Click here to learn more about Bar & Nightclub concepts