So you’re looking to invest in property, but how do you choose the best option? There are some key influencing factors that you might want to keep in mind to help you here. So let’s take a look.
Consider Your Budget
To begin with, the first thing that you need to do here, is make sure that you’re able to take a look at your budget and what you can actually afford. Because there may be great investments available to you, but if they are not within your budget, then you really do need to find the best option for your budget.
Know Your Goals
Next up, you’re going to want to take a look at the goals you have too. Because you may find that you need to make the best possible decision on where you buy and what to buy, based on your goals. So, this could be an entirely personal decision, and you may find that your actual choice isn’t what others might have made.
Do Some Research
Finally, you’re then going to want to think about the best possible place that you can invest in. To do this, you need to do some research. Take a look at the cost of land in different areas, such as in the infographic below, and then make sure that you’re able to invest in the best location. But you also want to be aware of how the area may change, for the better, and impact on your investment in the future.
Infographic Design By Mansell McTaggart
BlockchainDefender Reports on Trust and Cryptocurrency Market Capitalisation, Including Comparisons to Traditional Exchanges
The team at BlockchainDefender recently studied the trust associated with the cryptocurrency market and how it affects market capitalisation of cryptocurrencies. The resultant report looks at variations in reputation by cryptocurrency and by country, comparisons between the reputations of traditional exchanges and those of crypto exchanges, and the impact of a crisis on a cryptocurrency.
Reputation Management Is Different for Traditional and Crypto Exchanges
Among the findings of the BlockchainDefender report is the fact that the state of online reputations and the process of managing them is very different for traditional exchanges and crypto exchanges.
BlockchainDefender reports that traditional exchanges have a high degree of control over the online sentiment towards them. This is largely driven by the fact that over a third of online content related to traditional exchanges is officially owned by the exchange. This includes things like the official website and social media channels. Traditional exchanges also have a great deal of positive commentary from independent websites, with almost 30% of content analysed being positive as opposed to negative, official, neutral, or potentially negative.
In contrast, cryptocurrency exchanges struggle to improve and protect their online reputations. According to the BlockchainDefender report, there is 275% more negative coverage concerning crypto exchanges compared with traditional ones. One factor is that crypto exchange ownership for search results is only 17.75%, almost half the figure for traditional exchanges. With less control over online content, there is less control over overall sentiment.
The sources of negative content also vary for traditional and crypto exchanges. Crypto exchanges tend to receive negative content from a larger range of sources than traditional exchanges.
Other Trends of Note in the Report
In addition to the comparison of traditional and crypto exchanges, the BlockchainDefender report confirms that more online positive sentiment regarding a cryptocurrency leads to greater market capitalisation for that crypto. The report also concludes that high search volume and positive sentiment has a strong correlation with increased market capitalisation.
The report also notes some geographic differences in overall sentiment regarding the crypto industry. For example, of the four countries examined the United States has the most negative search results regarding Bitcoin, while the United Arab Emirates has the most positive search results.
The final section of the report outlines the impact of a cryptocurrency hack or other crisis on market capitalisation and price, with clear drops in each. BlockchainDefender concludes with some final thoughts on the challenges of managing a cryptocurrency’s reputation and a brief look at how to overcome these challenges.
Invest In Your Property And How You Can Make More Money By Doing So
One of the biggest investments that you can make in your lifetime has to be getting on to the property ladder. For some people it is the only investment they ever make, for others it becomes part of a other investments and financial decisions that improve their future. Getting on to the property ladder in the first place takes time and effort. Saving up for the deposit and putting things into place so that you can obtain a mortgage. It is a huge step to make and is often the most expensive purchase you make in your lifetime. So once you have it and you are in your new home, is there anything that you can do to improve this investment and make it worth your while? The answer is yes. Here are some of the ways that investing your property can help you make more money in the long term.
Think about the curb appeal
One of the biggest assets your new property has is the way it can make a first impression, and that happens to be through its curb appeal. It may sound trivial, but this can make a big difference, especially when you are selling the property or you are wanting to appeal to people. It is things like ensuring the windows and doors look in tact and are clean. Tidying up the driveway and repairing any garage door, and even things like painting the fence or planting flowers in the front garden. Small little investments can make a big difference.
Extending could be the answer
If you are really looking to increase the value when it comes to your property then the answer could be in the way of extension. This adds square footage to the property that ups the value anyway, but the way you use the space can also matter. Starting off with an extension can be overwhelming, but getting the right footings and foundations in place and for builders to use specialist concrete contractors like JP Concrete can be a good place to start. From there the walls go up and then it is all about the fixtures and fittings. Extensions can from part of your kitchen downstairs or be an extra living space. Building up further will add bedrooms, and while it may cost initially the increase in value will far outweigh any costs in the long run.
The garden and exterior landscape can sell property
The exterior of your home is big business when it comes to attracting buyers and increasing the value, and while we may have already discussed the power of a first impression, the garden and rest of the exterior of your home should also have some work and attention. Investing in things such as sheds, decking or patio areas, and even making sure it is presentable can be all it takes to ensure that you tick this area off the list when it comes to making more money on your home.
Invest in the interior decoration
Yes the exterior is important, and yes it is great to take advantage of things such as extra space, but often it can be the interior decoration that seals the deal when it comes to an increase in value and selling your property. You are not just selling your home, you are selling the lifestyle that comes with it, and by doing so, you may be able to increase the value just by investing in colour choices and furniture placement. Take some time to appeal to the masses when it comes to interior decoration, you won’t be disappointed.
Make use out of redundant spaces
Do you have any redundant spaces in your home? A basement that isn’t used or a loft or attic space that is just filled with junk? Then it might be time to utilise those spaces a little more. Using them for living areas or bedrooms can help to increase the value of your property without the need for extending or any huge expensive investments. It is one of the first things to consider, and again adding bedrooms or living areas helps to add value massively. So even though there is investment, it is worthwhile.
Create rooms outside
Finally, back to the outside once more. If you have the space for an additional shed or structure, then this could also be a great asset to the property. Outside office spaces, extra storage, a space that can become a man cave or she shed, is definitely an option to consider if you are wanting to add some value to the property.
Let’s hope these ideas help you to make money by investing in your home.
Is Buying Into a Strata Scheme a Good Investment
If you’re looking to buy an apartment that is located in a strata scheme, you have to get to know how strata works. New lot owners are often intimidated by the many rules and regulations that surround this property management system. It can be a bit confusing when you start out, but it’s governed by some intuitive rules and reasoning. Here are some of the most important questions you should ask yourself before purchasing the property.
1. What is a Strata scheme?
Strata schemes are a form of individual ownership for properties. The building is managed in a couple of different ways. The property is divided into two different areas of ownership. You have areas that are called “lots” and “common property”.
You can consider the lot as a form of apartment. It’s defined as everything within the four walls of an apartment. Appropriately, this area is owned by the lot owner. The common property is a bit different. It’s made up of all the areas of the building that surround the lots. This includes things like hallways and parking spaces. These are managed by the owners corporation.
2. What do I own?
Lots and common property seem like simple enough concepts, but once you get in the details the lines start to get blurry. Lot owners often wonder what exactly they own in the apartment. If the rules state that everything within the four walls is theirs, does that include the walls themselves?
This is where some of the rules are open to interpretation. What if you want to hang pictures from the walls of your apartment? Are you allowed to use nails on the walls? The general consensus is that you can make changes as long as it doesn’t influence other lot owners. You can discuss the rules with your owners corporation to figure out what you’re allowed to do.
Balconies seem like they should be a pretty open and shut case, but they aren’t. Technically speaking, they are within the apartment, but they aren’t surrounded by the walls that make it up. Because of this, they are considered somewhat part of the common property and you can’t make any significant changes to them.
3. Who is in charge?
There are several layers of management in a strata scheme. When it comes to managing an apartment, lot owners are in charge of their own property. Decisions regarding the common property are made by the owners corporation, which is a legal entity composed of all the different lot owners in the building. It’s a pretty reasonable hierarchy. The people inside the building use the hallways, entrance, and parking, which is why they should have the authority to make changes.
The building itself is owned by a strata company. They give power to the owners corporation with the many by-laws that they create.
4. Can I renovate?
Many new lot owners are worried about their ability to renovate their apartment in a strata scheme. Often, the by-laws can seem pretty limiting when you aren’t familiar with them. There are certain rules that can vary depending on the context.
For example, renovating your bathroom can seem pretty paradoxical. Most bathroom floors and walls are covered in porcelain tiles, in order to look nice and prevent water damage to walls. In a strata lot, you’re allowed to renovate the wall tiles freely, while you might need permission to make any changes to the floor tiles. The tiles are usually the same exact kind, which makes these types of rules so confusing for new lot owners.
5. What kind of rules do I have to follow?
Strata schemes have their own set of rules that govern lot owners. These are called by-laws. They dictate all the different things you’re allowed to do with your lot and common property. Often, they will include some of the more common issues people have with apartments. Things like pet ownership and parties are all addressed by by-laws.
Issues arise during disputes over what is allowed by these laws. Just because there are rules in place doesn’t mean neighbours won’t bicker about damage done to their property every once in a while. The owners corporation often consults legal experts like Eling Strata Management to help with the interpretation of the by-laws during disputes. The final decision is often made by vote or with the use of a mediator.
6. Do I have to attend meetings?
If you decide to buy into a strata scheme and become a lot owner, you will have certain responsibilities. As a lot owner, you’re also part of the owners corporation that runs the building. Many of the executive decisions regarding the common property will be made using your vote and the votes of other lot owners. You should carefully review how these decisions will affect life for you and your neighbours.
Meetings aren’t regularly held all that often, You have annual and bi-annual meetings that discuss regular things like the management of levy funds and renovation of common property. On the other hand, you also have spontaneous meetings that arise due to discussions of by-law breaches and disputes.
Investing in a strata scheme has proven itself to be a pretty good idea. For starters, you pay a significantly lower sum than if you were to purchase a regular apartment. The management decisions aren’t made by some building manager that lives miles away, but rather they’re a joint decision made by you and your neighbours. All in all, strata schemes give you quite a bit of freedom when it comes to your living space.
Let’s Make Your Business A Better One…
For any business owner, the mission is to move forward and grow. There are so many different ways you can do this. Here are some tips to help you get started…
Corporate clothing: A great branding opportunity for start up businesses
The main challenge new companies face is making their impact on the industry. When you are a small and fresh business it can be very difficult for your voice to be heard over the larger and more experienced players. You need to use all the branding opportunities at your disposal in order to increase your recognition. Once people begin to hear about your company the ball starts rolling and you will feel that your business is being truly acknowledged by your target client base.
One method you should deploy is the use of corporate clothing. This presents you with the ideal branding opportunity. Decide upon a professional and sophisticated design and make sure that your logo is on display for everybody to see. This is a great marketing option because your employees will be essentially advertising your company. Every single person your employees pass on a working day will have potentially seen your company’s logo. If they have never heard of your business before then they are likely to be intrigued and want to find more. They may do a quick search on Google when they get the chance.
After all, corporate clothing makes your business seem extremely professional and of a high quality. This means people are going to be more inclined to think that you operate an important and leading business. As more and more people notice your employees’ uniforms your recognition will grow and your company will reap the gains of a great branding strategy.
There is no denying the fact that starting a new business is difficult. You have to compete with all of the other businesses who are similar to you, yet they have already had a head start. Using opportunities, such as corporate clothing, allows you to increase the recognition of your brand and strengthen your identity.
Drive an excellent corporate car for a great price
You definitely should be seeking out the best car leasing deals that are available today at your business. This may be an intimidating process, as you may have no idea where to start. However, don’t let this put you off, as with a bit of guidance you can find the best prices and excellent levels of comfort while you are driving. After all, a good car will certainly make a good impression on your clients.
There is a long list of benefits that comes with car leasing. However, you will only experience these if leasing the cars is cost effective. When you start your search for the perfect car, undoubtedly you will come across a fleet of cars in all shapes, sizes and colours. One of the benefits of leasing a car for business purposes is that even though it is a business expense, it will never appear on your balance sheet. When compared with other forms of vehicle finance, you can expect a minimal deposit and lower monthly costs if you find the right provider for car leasing deals. You then simply need to arrange vehicle transport to get the car to you. You may even upgrade your vehicle of choice. There is the option to add ancillary services, and this means getting regular vehicle maintenance, duty of care, or fleet maintenance. You also have the added benefit of never having to worry about selling a car yourself again. This will save a lot of hassle and present you with additional cash flow.
Reduce your carbon footprint by choosing a good travel management company
Nowadays, it is no secret that businesses have a responsibility to take necessary actions to act more environmentally friendly in their processes. All you need to do is turn on the television and you will soon find news reports and programs concerning the state of our planet. Pollution is a major concern and everyone has a role to play. In fact, businesses are even competing with each other to show who is the most environmentally friendly, as it is a solid tactic to win over customers in the present day – as the issue is so important.
One of the main ways companies contribute to a significant amount of pollution is through corporate travel. This is something that is only increasing, because business is becoming more and more global. Companies find the need to travel all over the world in order to meet up with new clients, oversee production that is going on in different companies, and so on and so forth. Of course, you cannot minimize pollution by the approach of stopping corporate travel, as this will hinder company growth. Yet, one of the things you can do is seek the aid of a quality travel management company. They will help you to reduce your carbon footprint without negatively impacting your company or halting your travel plans.
Travel management companies offer a service that is extremely beneficial for any business that travels on a regular basis. Not only do the best companies help you to reduce your carbon footprint, but they will also help you to secure great deals and provide you with extensive information. All in all, you will be able to travel much more efficiently. These companies have links with airlines and alike – so they can provide you with the cheapest rates. They give you knowledge on everything from currency rates to directions. Moreover, you will be able to organize your plans via one easy to use interface. It really is an excellent solution.
So, how do travel management companies help you when it comes to reducing your carbon footprint? Well, the most advanced businesses nowadays have features such as carbon calculators. This feature will tell you how much carbon dioxide you are responsible for emitting if you go to your destination via the route you are intending. They will then present you with a route that is more environmentally friendly instead, so as to give you better alternatives.
Aside from selecting a company that helps you to reduce your own amount of pollution, you should also go for a travel management businesses that supports energy efficient projects. Take a look at the company’s environmental policy. They should have a clear one in place and they should work alongside their suppliers to ensure they are constantly making improvements when it comes to protecting the planet.
Find the best ecommerce software for you
The ecommerce aspect of your website is highly important. After all, it is through this section whereby you will make money through selling your products. This means that you should take a lot of time and effort when it comes to deciding which ecommerce platform to utilise. After all, from magento to WordPress platforms there are lots of options to choose from, and there are several things which you need to factor in so that you ensure you find the best software option for you.
First and foremost, you need to make sure that the ecommerce software you select is both easy to set up and easy to utilise. After all, when talking about the online world there is simply no time to wait around or spend extensive periods learning how to work something. You need something which you can reap the rewards from straight away, as every day wasted is a day you fall behind your competitors.
In addition to this, it is also recommended that you take the time and effort to read up on all the features you will benefit from. This is important because there may be elements you do not need now, but these may be something which is useful in the future and thus a major factor in regards to expansion and ecommerce website development. When considering features this includes aspects such as the pay methods on offer, the possibility of product reviews and more.
Aside from the features on offer and the ease of use, it is also recommended that you look for a software option which is SEO friendly. For those who are unaware, SEO – otherwise known as search engine optimisation, is methods deployed in order to ensure that a web page moves up the search engine ranking pages. Therefore, if the ecommerce platform you go for is SEO friendly then you can rest assured that your products will be featuring high up on the likes of Google.
In addition to this, it is recommended that you seek ecommerce software which is compatible worldwide. Even if you are not selling your products on a global scale as of yet, it is advisable to have this possibility there so you can use it if you wish to expand in the future. With regards to worldwide compatibility you should be considering things such as currency support, shipping options and different languages available.
And finally, another telling sign with regards as to whether the ecommerce software option you are considering is a good one or not is the reputation it has. This means; what have those who have used it before thought about it? Look around online and read the reviews and the feedback regarding the platform. This is the best way to get an honest opinion as to whether the ecommerce option is truly credible and one of the top options.
How to Make Clever Money from Your Land
When you are a business minded person, there are several things you should look for when your next venture is on the horizon. First of all, you need to assess what kind of assets you already have; this will help you to establish sensible business ideas that are relatively risk free and accessible. Being blessed with a vast amount of land is something every entrepreneur should be excited about. There are so many different money making methods that can be achieved by making the most out of your land. You might want to think about whether an agricultural investment will be profitable or you might have several other grand plans. If you are lucky enough to have land at your fingertips, check out some of the following methods to bringing a side income.
If you are passionate about animals then it seems like a no brainer to buy some farm animals for your land. You might need to invest in mobile field shelters for goats and other medium sized farm animals. It is up to you whether you sell dairy, raise animals for meat or create a safe breeding environment. Seek advice on what type of farming you could go into and make the most of your outdoor space.
Install a Billboard
If your land is nearby to a busy road, people are likely to snap up a spot on your property. Advertising companies will be impressed by this new location, so make sure you seize every opportunity. Payments will be very wide ranging, but it involves very minimal effort from your part. As long as you don’t mind having a huge sign on your land it is an easy money maker.
Sell or Lease Your Land
Consider sellers or leasing your land to hunters or other farmers. If your property is home to wild animals you might be able to bring in a substantial income by allowing people to hunt on your land. If your land is nearby to a farm you will also find success in selling your land to local farmers. They may need extra space to harvest crops. In this case you can simply allow them to use your land for whatever they need to do and you can watch the income roll in steadily each month.
Timber supplies are becoming more and more stark, so many lumber companies are seeking out new locations for wood. Depending on how big and old the trees are you can expect to receive a varied price for your timber. Your local conservation centre will have more information about harvesting timber.
Keep an open mind when you are exploring ways to make money from your land. There might just be a method you hadn’t even considered yet. Whether you are raising farm animals or installing a billboard as advertising, you should embrace your land. Use this as an opportunity to earn some extra money on the side and do something you are passionate about.
A Business Investment You’ll Thank Us For
If you’re going to invest in anything, it most definitely should be a business. Whether you’re investing in your own little business venture, or whether you’re choosing to invest your money into other businesses in order to try and make money, we definitely think you should be doing it. Because either way, if you are doing it right, there will be so much money that you can make from it. But for the purpose of this article, we’re going to give you a business investment idea where you’re the captain of your own ship. There’s quite like running a business, and if you’re already in the investing side of things, this is a natural path for you to follow as you start making your own money. Because with investing, you will learn the ways of business slightly. Then, all you need to do is think of areas of business that might interest you, and you can burst into the business market. But one business investment idea we know you’ll love, is with the agricultural world, because we just know there is so much money to be made from it! So keep on reading, and see why we think this is the industry for you!
There’s No Fancy Ideas
This is one of the things that we love most about the agricultural world. If you were to go into nearly any other type of business, you’d have to get fancy. Because not everyone is trying to set up a business in this niche, you don’t have the large volume of people to compete with. Which makes it one of the most simplistic, and one of the most rewarding niches to be in. it also takes that creative worry out of the way. All you’ll have to focus on, is maintaining quality, and selling your business. If you were to sell cheese for example, you might have to get a little bit creative when it comes to package design, and you’ll still have to focus on things such as your brand and building that up, but all of the fancy things other businesses have to try and meet, you’ll never have to do. The most you’ll have to think about, is what you want to farm or produce, and how you’re going to do it! The set up and the logistics behind it are not as hard as you would think either!
It’s So Easy To Set Up
This is the next bit that we love about it. When you think about setting up a business in farming, there is simple logic behind the things that you will need, and how you can go about it. You will need to build yourself some form of warehouse to house machinery, animals, plants, whatever side of agriculture you go into, you will always need somewhere to house things. So you’ll need items like key clamp rails to build secure scaffold, and you can then design a framework around it. There are so many construction companies who specialise in jobs like this, you just have to do a quick search and see which one you think would be most suitable to work with!
The Path Is So Clear
Once you know which side of agriculture you want to get into, you can start thinking about what path you want to take, and how easy it’s going to be to get there. So for example, if you were to go down the route of farming and selling meats, you could start selling your goods at farmers market, and working your way up through that route. If you were to start and sell plants, you could go to home and garden centers, and put samples outside. Or you could work your way in, and try and build contracts with these establishments, and sell your products through there permanently!
The Branches You Can Follow
Once you get into this line of work, it’s really easy to branch out and to do different things. You will often find that picking up business is easier than you think, especially if you focus on high quality products. You could then think about going national, and selling your products to a wider market. You could do this by making connections with markets around the country, distributors, and sales teams to try and branch out as a business. You can always move to different areas of agriculture as well, and build your small business into a really good money earner. You just need to make sure that you’re following all the rules and regulations, especially if you’re moving between what you do!
Enter The Farming Industry At Your Peril
Farming is often seen as a labor intensive way of earning very little money. Overheads are high, crop prices are low, and if you are planning on selling your pigs at market, you will make minimal profit on each animal. It’s no wonder that the farming community have high rates of mental health problems and suicide. Those that do enter the profession tend to have farming in the DNA, as the industry has employed their parents, and their parents’ parents. Most other people who enter the profession do so because of an idyllic notion of being self sufficient, earning money selling sustainable organic produce.
The idea of selling food and crops and livestock should be a burgeoning profession. The population of the world is growing and there are more mouths to feed. So, why does farming still get a bad reputation for low rates of pay and back breaking work?
Many farmers work on there own from five in the morning until eight in the evening. There is always something to do on the farm from milking the cows, clearing out the stables, ploughing a field or irrigating the land. The upkeep of such a wide expanse of land, couple with the long working hours can lead to feelings of isolation. This can cause depression and anxiety. Working alone may sound perfect for those people who enjoy their own company, but when this is forced upon you, and you don’t have time to socialize with friends because a sheep is unwell, the idyll can be shattered dramatically.
Most farmers are forever on the cusp of descending into debt. Every season is stress laden as you try to navigate treacherous weather, infestations and crop management. With better agricultural equipment jobs can be done faster and produce can be harvested more efficiently. However, this doesn’t negate the need for sound money management. If you are making pennies on every pint of milk that you produce, the effort can seem pointless.
Many farmers struggle to break free from the industry as it is all that they know. The thought of doing something else can be terrifying, so many choose to stay within farming and live to work, rather than work to live. Many have sold off their land to property investors, but then regret their decision when they realise that they have few skills to impart in other jobs.
If you are still keen to break into the farming industry, you will be aware of just how challenging this can be. With little or no support from government and the need to rely on yourself to earn your living, the challenges are clear. However, every day is different, you will be self sufficient, and you will be providing exceptional produce for your local community.
Farming is not just a job, it is a vocation and a way of life. Think carefully before choosing this path, otherwise you could find yourself becoming one of the farming statistics that nobody likes to read about.
How Agriculture Can be Part of the Climate Solution
Climate change is having a massive impact on the planet and as the weather gets weirder, planning harvests and crops for profit gets harder. Over the last few decades, farming has shifted somewhat from understanding the land and going with the seasons to forcing crops and maximising growth with increasingly aggressive methods.
There has never been a more challenging time for agricultural businesses. The planet’s population is demanding more and more food while the planet itself is asking for greater leniency. If you thought that finding up-to-date news for grain prices and selling at the right moment would be the main challenge, you probably need to rethink!
But there is some good news. As a farmer, you have the option to work your land as you choose. You have the option to be a part of the solution.
Using Tech to Hack the Eco-System
Every business uses tech to increase productivity and maximize efficiency and agriculture is no exception. E-Farming may be at the cutting edge of agriculture at the moment but it is rapidly gaining ground. As technology progresses, it will become more and more necessary for farmers to invest in order to keep up with the competition.
Emerging agricultural technologies aren’t just about controlling the farming environment, they are also about monitoring, maximizing production and, in some cases, completely revolutionizing the way we produce food. While many of these technologies aren’t available yet, just looking at the scope shows how different agricultural practices could look in just 10 years’ time.
Planting trees is one of the most effective ways to capture carbon dioxide, a greenhouse gas linked to climate change and global warming. Though trees might not form your main crop, they are still incredibly useful for farmers as they can remove toxins from soil, prevent soil erosion and provide much-needed shade for animals – yours and wild visitors.
Though many trees are good simply to have, fruit-bearing trees can provide another avenue for profit. Eucalyptus trees are also popular as they are quite hardy, fast growing and ideal for pulpwood.
Companion planting is an ancient farming method that has recently made a rather triumphant return. In basic terms, companion planting means planting different crops together to encourage growth, deter pests and reduce the number of weeds. For example, planting flowers in amongst fruit crops will attract pollinators and increase the crop yield.
Some companion plants can even be used to double your return on one patch of land. If you plant beans together with corn, the same plot can deliver beans, which use the corn stems to grow up and corn which takes the nutrients the beans put back into the soil. Indeed, it seems that some plants are simply meant to be together on the field as well as on the plate. For example, basil repels bugs and can improve the flavour of tomatoes.
We have a long way to go to fix our climate and environment but changing agricultural practices can only be a good thing. The more we can do now, the more hope we have for the future.
This Tech Can Help Your Restaurant
What’s happening with restaurants today? It seems like the old mom-and-pop joints simply can’t compete in any industry that can be improved by tech. Restaurants have become the latest industry to try machine learning and automated technology that is propelling them beyond their competition and bringing in new revenue streams. For instance, many restaurant owners have implemented point of sale cloud-based systems to improve efficiency, inventory management, and sales tracking.
However, there are many other tech gadgets and software being used to modernize the dining out process and saving restaurant owners a ton of time and money in the process. Technology can even improve a restaurant’s investment portfolio. Here are a few tech items that are showing up in successful restaurants today.
Guest Loyalty Programs
You may think that this is nothing new. For as long as there has been an email or EDDM list, you have been able to reach loyal customers. However, the ease and convenience, as well as the visibility of promotions, has changed with recent guest loyalty software. You can now use a checkout process that tracks your customer’s email and adds it to your email service, allowing you to instantly thank customers or send them a promotion for being a first-time customer.
You can also add guest loyalty to your website, allowing potential guests to sign up and become loyal followers without visiting your store or even buying something from you. It’s the simplest and fastest way to start exposing guests to your restaurant.
Tabletop Dining and Checkout
With new point-of-sale tech for restaurants, you can instantly upsell customers just by placing their options in front of them for ordering. Your wait staff doesn’t have to suggest the specials because they can be prominently featured right at the table. They can also play games, look at promotions, and pay for their bill right from their table. This is the easiest way to improve your restaurant if you are having issues with low ticket sales, wait times, and order accuracy.
Cloud-Based POS Systems
While you may not have updated your POS in the past few years, many restaurants are moving towards the cloud. This is because it gives you instant access to sales reports, live data tracking, promotion tracking, employee performance, and so much more.
One of the best things about this new tech is that it can help you learn about your customers, providing you with insights into when sales happen and what sales were achieved on a day-to-day basis. In addition, you can easily account for inventory problems with a POS system that hooks into your inventory management, making it possible for automatic re-stock orders when you’re going to run out of a certain protein or other essential item for your restaurant.
These digital POS systems were made to be more sophisticated for online ordering, take-out orders, and payment processing. You can now help your guests enjoy their experience even more with a system that lets them split payments and add take-out orders with a tap of a finger.
If you want to quickly upgrade your restaurant, you have to think of the way people are ordering these days. Many people want to get take-out or order ahead, and with online ordering, you can increase your restaurant’s revenue, implement more accurate ordering, and get data tracking, allowing you to learn who your regular customers are and what they want to order. Typically, these hook into a point of sale cloud-based system and turn your restaurant into a smooth operation.