Nine Benefits of Effective POS Solutions for Food Truck Businesses6 min read

The food truck industry is anticipated to grow massively in 2019 – from $800 million in 2017 to $985 million in 2019, an increase of 20 percent. One of the main factors contributing to the proliferation of food trucks is the smaller investment needed to run a mobile food business in comparison to a brick and mortar restaurant.

Generational specifics also led to the rapid growth of this food service type. When questioned, 47 percent of millennials said that they’ve bought a product from a food truck. This is one of the main reasons why millennials are considered a food truck generation.

Those who use food truck services describe them as fun, exciting, different and unique. These market dynamics and the lower investment required to start a food truck business prompt many to give this opportunity a try. Food truck owners, however, will also have to overcome certain challenges.

Massive competition is one serious problem to address, as more than 4,000 food trucks are operating in the U.S. alone right now.

Other issues that new business owners may face include:

• Administrative issues related to getting all required street food licenses and permits
• Traffic conditions and roadside-related dangers
• Food spoilage, storage and the related expenses (health codes and regulations, as well)
• Insurance costs
• Employee management and ensuring accountability
• Insufficient market analysis, contributing to the lack of a brand identity
• The selection of the right payment method (only cash? Accept credit card payments?)

The last issue can be addressed through the selection of the right POS solution for your food truck business. A POS system produces diversified operational and customer service benefits. Here are a few of the key reasons why you should invest in such a solution for your food truck business.

Saving Time, Better Customer Service

The ultimate goal of any food truck is the provision of high-quality customer service. A POS system will help you accomplish the goal.

Innovative POS solutions can significantly improve the quality of customer service by offering your clients choices and reduced waiting time. When a POS system is in place, a food truck client will get to choose whether to pay in cash or with a card. Mobile payments also become effortless through the introduction of a modern POS solution.

Digital receipts, self-ordering and personalization for loyal clients can also be introduced. These make the service quick, effective and customized.

Access to Vital Data

To grow your food truck business, you’ll need to collect information about the behavior and preferences of your customers.

POS systems track real-time data and allow for the creation of personalized performance reports. Some types of information you can access through the POS system include:

• Sales data (sales by hour, most popular days of the week, sales by menu item, etc.)
• Payment reports
• Inventory management data (you’ll know which products you need the most, when you’re running low on a certain item, etc.)
• Labor management and cost data
• Employee scheduling data
• Loyal customer data

Through the collection of such information, you can strengthen the menu, eliminate food waste and optimize staffing processes. All of these are vital for the provision of a quality service, for saving money and ensuring the stable growth of your food truck business in the future.

The Provision of Perks and Loyalty Programs

Loyalty programs extended to those who choose your food truck service on a regular basis can ensure repeat business.

The data collected through your POS system will give you a better idea about your loyal clients and their preferences. Based on this information, you can introduce a loyalty program that will benefit the respective group.

A very important business principle applies to the food truck industry. Most of your business comes from repeat clients. Keeping loyal customers is a lot easier and much more cost-efficient than attempting to win new ones.

Your POS system will help you craft discount programs and perks your repeat clients will like. In addition, you’ll be able to choose a communication method that will help you deliver vital loyalty program information in the best way possible.

Secure Payments

As you’ve seen already, contemporary POS solutions for the food industry have a whole arsenal of intelligent features.

Going back to basics, however, a POS system is essential to ensure secure payments, whether these occur in cash, with a card or using a digital transactional method.

Cashless payments are becoming more and more prominent because they are safe, easy and practical. If you can offer secure cashless payments to your younger clients, chances are that you’ll win them over.

Other Perks

POS solutions for food truck businesses produce a whole host of additional benefits:

• Adaptability and scalability as the business grows
• Options for online ordering before the customer arrives to the food truck venue
• Ease of use and mobility
• The selection of the right marketing channels and tools
• Syncing of orders across devices (for companies that operate multiple food trucks)

Choosing the Right POS Solution for Your Food Truck Business

Many POS solutions for the food and restaurant industry aren’t necessarily a good choice for food truck owners.

For a start, some of these systems aren’t created for effective use in a mobile environment. In addition, these solutions can be way too costly for a business owner who’s trying to keep the setup costs under control.

Luckily, the POS system market is beginning to experience some diversification. Companies like Open understand the needs of different food industry representatives. This is why Open is launching a new program that involves the use of a kiosk and kitchen display systems (KDS).

How exactly does it work and how does it benefit food truck businesses?

The self-order kiosk will speed up the selection of the right menu item and the submission of the order. Why? The client will go through these steps on their own without needing the assistance of a staff member.

The order is next shown to the person responsible for food preparation via the KDS. While the food is being prepared, the client will see a notification on the kiosk screen providing more information about the status of the order.

Not only is this solution convenient for both parties involved in the transaction, it offers unparalleled affordability.

Open’s system will be accessible for just $129 per month – a convenient price that falls within the range of possibility for food truck business owners.

Final Verdict

The intense competition is making it more difficult for food truck business owners to thrive. In order to be successful, you need the right business concept and you also have to prioritize the quality of customer service.

Innovative POS solutions are simplifying the second part of the task that business owners face. As the market is becoming more diversified, POS systems are starting to target different representatives of the food industry. Suitable solutions are already available for food truck owners, who typically like to keep operational expenses limited in comparison to brick and mortar food service providers.

POS systems yield a high return on investment due to all of the benefits they bring to the table. In order to take advantage of these perks, you’ll simply need to run a thorough market analysis and identify the solution that will deliver the best price-to-quality ratio for your business.