The restaurant and bakery sector affords the agent an immense opportunity to build relationships and sales. Opportunities typically fall into two categories – fine dining and quick service restaurant, although a third is emerging which we refer to as mid-level dining.
- Fine dining as the term suggests reflects restaurants with sit down accommodations utilizing high-end POS systems to conduct transactions. Many are national account relationships and require a moderate to moderate-high level of technical expertise to sell, service and maintain the relationship. The VAR plays a large role as well in the placement of the processing.
- Quick service restaurants are as the name implies – fast food locations that typically provide no or minimal seating yet rely upon similar POS systems to function. Thus, many are national account supported and often have VAR relationships to deal with as well as processing relationships (sometimes one and the same).
- Mid-Level dining refers to those establishments where seating is available yet the organization does not require the high tech pos systems to function. Many of these businesses are opting for tablet based processing solutions. Additionally, the new craze with food trucks falls within this category.
A VAR relationship stands for Value Added Reseller and describes the company that provides and services the POS system. Working with the VAR to insure the processing solution can be implemented is a crucial component of servicing this vertical market.
Restaurant focused associations afford the agent an opportunity to provide a unique benefit to all members of the association that might open tremendous sales opportunities. Becoming the ‘preferred merchant services provider’ for such an organization could be a tremendous boon to your business model.
A unique opportunity when servicing businesses in this vertical market is for you to become a member of these associations. Joining associations that align with your particular business model focus is also a wise and beneficial practice.
Gift and loyalty programs are ever in demand, as well as app based processing solutions where a customer can order and pay for their meal with a laptop, tablet or cell phone.
Do not invest significant time or energy on the larger national accounts unless you have a unique advantage that will bring you to the top decision makers. There are literally thousands, perhaps tens of thousands of opportunities available across the country.