Capstone Project Thapar University
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Capstone project thapar university

Capstone project thapar university strategic management topics for research for money joey starr reportage tv ´╗┐you're back on the air with Eric and Robin Gagnon from we sell restaurants we are on your radio once a week and remember our goal is to satisfy your appetite for acquisition feed the need for restaurant reality and serve up a recipe for business success you can find us online at we sell restaurants com that's w.e seol restaurants with an S com today we're talking about POS systems Eric what are your questions about POS for our three excellent guess we got three great guest today and I'd like to talk about something that we haven't brushed before there's so many things we can talk about but let's talk about about digital wallets and other forms of payment you know some people in in this country have some I guess apprehension and changes we've been set in our ways for so long so Paul what you talk to us a little bit about about that and what's going on with that and I'll ask Jared in the SAS 32 would chime in after that well basically the adulteress payment methods none of them have really i'd say taken a huge huge market hole but it's definitely exciting technology right you i'm sure everybody's heard the bitcoin there's all the bitcoin drama all the time you know world governments don't really know how to classify it as a currency or what it is but it is a you know alternative payment method out there and to a lot of people a lot of the early adopters it is currency just like you know holding dollars in your pockets so that's pretty exciting stuff right there and that's called a cryptocurrency actually so basically every single transaction is no assigned its own crypto key and is totally secure as of right now at least there's other stuff like digital wallets i'm sure everyone sort of Isis digital while I believe they're partnered with verizon and that basically gives you your you know funds available on your phone with some near-field communication there is other services like level ups that are not tied in directly to your mobile device but you know there Digital walnut a lesson I mean those have taken level up in particular has kind of taken hold in individual markets but not I don't think really nationwide but like I said they're very interesting and exciting I got to stay on top of and hopefully choose the ones that are going to really take off hey sauce tree let me ask you this with a discussion about digital wallets and failure to adopt you know new ways of paying is there an apprehension on the part of the consumers or on the part of the restaurant operators about security and hacking and someone getting at the data what's your thoughts and give us a relatively brief answer on that if you could absolutely thank you and we think when we think about the problem what we see is for the consumer the mobile wallet provides very marginal advantages to just swiping a credit card and I think more than your security it's simply what is the utility that it provides that's the fundamental problem that has to be solved and one of the things that we see is brands that have higher degrees of adoption such a starbucks compared to other brands have approached it from a very fundamental thing which is you've got to align and provide incentives to the consumer so it's not just about convenience of the payment it's also when you do it can you provide an offer in return so what's in it for me and that essentially leads to higher degrees of adoption yeah that makes sense that consumers saying what's in it for me what's my value add from changing just my traditional habit and Jared what are your thoughts um well number I mean number of good topics there but on the UH on this far as consumer security and fear over uh data I i I'd take a kind of an you know buck the trend a little bit on this and say that um you know largely the system that's in place now insurers and protects consumers more than they probably believed from the headlines you know even when you look at Michael's or targets you know big compromises right now I mean there's no one there has never been really consumer that's you know but forced to pay a bill abating create on the credit card now if it's stolen identity that's a different scenario but a lot of these breaches you know I think the damage is more from you know the reaction to it than what actually happens from pure fraud that said it does hurt the card issuers the card issuers have a hell of an incentive to get away from it and that's one of the biggest drivers around you know our previously Envy discussion great all right let me see um Eric always asks the numbers questions I think he's going to tie you down on the numbers now this is the time we're almost running up against the break but I want to know after 15-20 minutes and I'll show your friend and when we talk with friends in the show we talk about money so I want to hear from you guys roughly each one of you costs for your products and see if it's affordable from the small guy to the big guy so let's start with Paul tell me about you know mobile POS what we're looking at / terminal costs maybe to give even killed everybody quickly all right well wellpoint affiliates offers a service model and we are not in the hardware business so the hardware's consumer-based it can be ordered from anywhere its commodity so that's the price of an iPad the price of a credit card reader a thermal printer and whatever it's hardly hardware they need their like cash drawers etc so as far as the software costs is fifty five dollars a month there is no contracts no other additional fees other than that okay let's get saw straight away in very quickly on his system yeah so we have two components one is a setup free for creating a branded mobile app and that applies to restaurant chains with ten locations in up for smaller locate restaurants there is no setup fee or even smudger and then second thing is we have a monthly subscription that starts with hundred and fifty dollars per month and goes up based on specifically what functionality they want to add they can start with just loyalty or increase it to other things like gift cards surveys payments ordering and I beacon and so on so that's basically how we so a la carte they can choose exactly what they want which is great record right ok and then Jared why don't you weigh in us on your system sure so the arbor touch elite is very much like a traditional POS system micros her radiant it's not a mobile app at something you'd install in your restaurant at all the different stations at sixty nine dollars a month per station and that's hardware software programming on-site installation training and support and the big component of it is we do that as a loss leader to gain the credit card processing business wow that's outstanding at these numbers obviously anyone in this industry from a single unit up to you know 10 50 75 stores can definitely have the security and comfort of a great big name system behind them for relatively minimal amount of investment on their part this has been just a really great show focused on the POS industry as we continue to delve into those topics that are important to those listening those who are operating restaurants or would-be restaurant tours this is eric and robin gagnam we're the restaurant brokers and you've been listening to us live and we sell restaurants radio show remember you can find us online at we sell restaurants com so we'd like you to do that and also take a moment and like us on our Facebook page we're at facebook.com/ backslash we sell restaurants we will post this show and direct links to our guests on our twitter handle that's at sell restaurants and of course we're on linkedin as well we so restaurants is your industry authority and source for information and we are the restaurant brokers Eric and Robin Gagnon do my capstone project topics for hr Orange County Community College.

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