Choosing a POS or Point of Sale System is an important step in the start of your business. This step can directly impact sales, operations, finance, customer service and more! It is important that you investigate different systems to find the right fit for you.
Questions to ask before you look at a system?
- Is there a system geared toward my industry?
- What are the functions I need the POS system to perform?
- Sales
- Shipping
- Delivery
- Marketing
- Website platform
- Manage Inventory
- Analytics
- Do I need it to connect to a financial management software?
- Does it have the ability to scale and grow with me?
- Fees
- What is my budget for software and hardware?
- What is the monthly subscription fee?
- What are the payment processing fees? Flat Fee? Percentage?
When choosing a Point Of Sale system, don’t believe that there is one system that is significantly greater than the rest. Each POS provider has tailored their offering to different types of businesses, so you have to find the right one for you. For example, I chose Shopify as my POS provider because I needed a POS System, a website host, and app integration to schedule local pickup orders. Shopify checked the boxes for all three of these needs, while also providing analytics for sales across all my platforms. Like I said, each business is different. Make yourself a checklist and see which POS systems might work for you. In this article, we will run through just a few of the systems that have good reviews.
Pros
- Features a free plan, just pay the transaction fee
- Integrates with Instagram and Facebook
- Easy to use
- Tracks Inventory
- Integrated Payment System
- Versatile
- Has Free through Premium models depending on your needs.
- Every square POS plan has barcode scanning, invoice and electronic gift card options, instagram selling capabilities, view low stock/out of stock, sales reports, time tracking, timecard reporting
- Works with WooCommerce, Quickbooks Online, Xero, TaxJar, SumAll
Cons
- All plans run a 2.6% charge plus $0.10 per transaction (this is never discounted)
- These are expensive processing fees for businesses with high volumes
- Free Option for Square lacks advanced features
- Extra fees to get a customer loyalty program
Pros
- Pairs very well with an ecommerce website
- POS System reports revenue and streamlines into your shopify dashboard for great analytics and stats
- No transaction fees when you use shopify payments
- No extra transaction fees above 2.9% & 0.30
- Abandoned cart recovery comes with every plan
- Plug & play hardware from shopify’s own website
- Transaction fees go down from 2.9% + $0.30 to just $0.30 depending on what plan you choose
- Custom Discounts and discount codes
- Customer profiles
- Integrated Credit Card Processing
- Shopify has an online help center with thousands of forums on how to fix any problem on your website
Cons
- No free option (besides the trial)
- You pay for POS hardware
- POS Scanners require bluetooth, which may not allow business owners to play music in their store without multiple mobile devices
Pros
- Good with integration
- Applications on Clover’s App Market can manage all aspects of a business
- This allows it to be tailored to fit the needs of most businesses
- Good Pricing, starting at $14.95 per month
- Can get your revenue immediately in your bank account for a 1% fee
Cons
- Hardware Costs are High
- Online payment processing, percentages are high 3.5% plus 10 cents
- No free plan
Pros
- Great for small businesses with multiple channels.
- Free plan is great for companies who do not do a ton of monthly transactions (under 300)
- Yearly plans start at $18, month-to month at $29.99.
- Multiple Business Channel plans start at $50, and gives users unique features for ecommerce and loyalty
- Allows you to sell products by length, weight, etc…
- Great for markets, grocery stores, etc…
- Specialized features for brands selling regulated products like alcohol or tobacco
Cons
- Basic analytic reports
- Only works offline with cash
Other POS options include Toast, Lightspeed, TouchBistro, and PayPal Zettle. Educate yourself, read reviews, rank your businesses needs, and then you will be ready to make an informed decision about POS Systems.