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It's great to get paid. Accepting money in exchange for fees? It's not so.
Small business owners need to maximize every transaction. It's crucial to choose the right point of sale (POS) system. It's not fair to feel like you are being cheated every time someone uses a credit card.
There are many options today that claim to offer excellent service and low rates.
But is it really true?
First, some POS systems can be just as good as their competitors, especially if you have a small budget.
Even the best POS system can cause problems if they aren't a good match. You may find it doesn't work with your existing software to track customers or charge fees you could have avoided.
Here is a list of five POS systems that I recommend for small businesses. These are high quality products that have a great reputation. Keep reading to learn how I can help you make an informed choice.
1. Square POS Review – The Best Small Business POS System
Since I began reviewing the best POS systems available, Square POS systems have been installed at several locations where I do my in person shopping.
It's all for a good reason.
Square is quickly becoming the preferred choice for small businesses of any type. Square's flexibility software allows business owners to use it to accept payments using their existing devices.
Square makes it easy to convert your current devices into a POS system within an hour.
You don't even need to purchase hardware. You have a variety of options if Square hardware is required.
- Square Terminal
- Square Register
- Square Reader for magstripe
- Square Standup for contactless & chip
- Square Reader for contactless and chip payments
Square's standup terminal and register are best suited for location-based businesses like boutique clothing stores or coffee shops. Square Reader allows you to turn your smartphone into a POS system so that you can accept payments from anywhere.
Square's POS system can also handle credit card processing easily. To accept and process payments, Square doesn't require third-party integrations.
Square POS is a popular choice for small businesses regardless of their business type. Square's pricing system is transparent and straightforward.
Square's iPad POS software is completely free and only costs 2.6% + $0.10 per transaction. This is the only cost you will pay, no matter how many transactions you make. Pricing starts at $60 per month plus the transaction fee for larger businesses.
Square has no hidden fees
Square can offer a customized solution to businesses that process more than $250,000 annually and have an average order value of $155.
Square POS also offers robust reporting and real-time analytics. They also offer 24/7 customer support. Square allows you to view, manage, update and track your inventory.
Square POS allows you to create and manage customer profiles from one place.
Square has its cons.
They charge 2.75 percent for non-card transactions and some features that are required by small businesses will cost more. The security protocols of this system, which protect against fraud payments, put accounts on hold for large volumes transactions.
Square was my top pick after reviewing dozens upon dozens of POS systems.
Small business owners of all sizes, as well as mid-sized and larger businesses, recommend Square. Get Square today.
2. Shopify POS Review – Best For Ecommerce Retail Integrations
Shopify is a well-known ecommerce company. They also offer a retail POS system that integrates with ecommerce.
Shopify's Point-of-Sales system is an excellent option if you have a Shopify store and plan to grow your online retail business.
Shopify's POS software allows you to create a branded online shop and sell via online channels such as Amazon, Instagram, and eBay. Shopify POS allows you to manage all your sales, online and in-store.
This is much more efficient, since you don't have to invest in different solutions.
Shopify POS offers core features such as sales, inventory management, employee management, and payroll.
The system updates your online and in-store inventory in real time. It also offers exceptional sales analytics and the ability to offer discount codes.
Do you need to manage your business from anywhere? It's possible. Shopify's POS system includes a mobile app.
Your customers will enjoy seamless checkout thanks to the Shopify POS system's robust integration with online and in-store. You can also return or replace an item purchased in your local shop.
Shopify offers the system as an optional inclusion to your monthly plans. The basic plan starts at $29 $29/month.
This base plan does not include advanced reporting or other features such as in-store payment processing. To process in-store payments at 1-5 locations, you'll need to purchase the $79/month plan or the $299/month plan that can handle up to 8 locations.
For in-person transactions, the charges are 2.7%, 2.5% and 2.4%, respectively.
All plans include a 14-day trial and live support 24/7 via email, phone, or chat. Shopify POS's simple setup is another reason to love it.
Shopify POS won't work for you if your store has multiple locations. The system's sole focus on ecommerce is a drawback, as well as the additional fees you will have to pay if Shopify doesn't use its payment processors.
Shopify POS is a great option if you already sell online or need to set up a few retail locations.
Shopify POS is a great choice if you are looking to open a new ecommerce shop or if you are in need of a new POS system.
3. Toast POS Review — The Best For Restaurants and Food Businesses
ToastPOS was designed with food and beverage vendors in mind. Toast POS is perfect for restaurants, bars, and food truck owners.
It integrates with CRM software to create an inventory of loyal customers. You can also create messages and run promotions to keep customers happy, so you can build a backlog of returning customers to your food business.
Toast POS is one system that has excellent Android capabilities.
This is especially useful for restaurants because of the flexibility and affordability of the Android infrastructure which allows for faster software updates than the iPad.
Toast POS works great for any type of food service, whether you are a full-service or fast-food restaurant. The system can be customized for large food chains or pizzerias.
Toast users have access to a network of like-minded business owners who can help you share or get best practices in your field.
Toast POS is a complete restaurant management system that includes both front-end and back-office processes. Toast POS improves staff productivity and customer service through its food-focused CRM features. It also includes detailed analytics as well as sales reports.
It is easy to customize and split bills or menu items among customers. These are two great features that will make your customers' lives easier. The Toast POS system is a great choice for food businesses.
Toast POS is free to get you started.
Paid plans start from $165 per month and include useful features such as online ordering and delivery management. Top-tier plans include loyalty programs and gift cards starting at $272 per monthly.
If you are a restaurant owner, Toast POS is my top recommendation. It is designed specifically for restaurants and food businesses.
4. Vend POS Review – The Best for Multiple Retail Stores
The Vend POS system can be customized to meet the specific needs of each retail store. This is a great solution for multiple locations.
Some of the newest POS systems don't meet traditional retail needs. Vend makes it easy to sell in-person.
Vend is one of the most popular iPad POS systems. It can be used on both your Mac and PC. Vend POS offers data entry options using a touchscreen or mouse.
It seamlessly integrates with many third-party apps, giving you access a lot of additional features. You can connect third party payment processors such as Square POS and Shopify POS.
Vend's ecommerce integrations allow you to sell in your physical and mobile stores, as well as digital channels. Vend's excellent sales analytics, inventory management, and customer profile management capabilities are all great.
You can also process contactless and split transactions, as well as gift cards.
No matter what platform Vend is running on, it will look the same regardless. The Vend POS system does not come with hardware. However, it makes up for that with its software simplicity, extensive integration options, and ease-of-use.
Vend's POS system pricing starts at $99/month if you pay annually for the Lite plan, which has a monthly turnover limit in excess of $20,000. If you pay annually, the Pro plan costs $129/month. If you have more than one location, the pricing will increase.
All plans include one register. Additional registers can be purchased for $49 per month. An Enterprise plan is available for large retailers. It includes a dedicated account manager.
The biggest problem with Vend POS is its slow processing speed. Other issues include the fact that Vend POS can only be used with Google Chrome, which is not suitable for restaurants, food trucks, bars or restaurants.
If you have multiple retail outlets, such as sports, homeware or fashion boutiques, Vend POS is a good choice. It offers many integration options.
5. ERPLY POS Review – The Best For Small Franchises
ERPLY POS is the best platform for franchise businesses. It works well on Android tablets and iPad tablets, and can also be accessed via a browser on other devices.
ERPLY POS is one cloud-hybrid system that can be used with any hardware. This makes ERPLY POS a popular choice for franchise retailers of all sizes.
This robust design allows you to centralize inventory across multiple stores and to manage employees through varying access to this platform.
CRM tools are included, as well as the ability to manage sensitive data using the ERPLY POS system. Other strong franchise-specific features include sales tracking, barcode scanners and full-scale inventory control across all plans.
The ERPLY POS system's pricing starts at $19 per monthly if you pay annually. However, inventory control is not available on the basic plan. You can get that with the higher-tier plans which start at $39 per monthly.
The ERPLY POS system has a known drawback: It is difficult to use. Second, customer support is limited.
ERPLY's flexible interface and the free trial that allows you to test it out are great reasons to choose this POS system.
It is highly recommended for franchise businesses because of its specific features.
What I Did to Look for the Best POS System
Consider your business's needs before you choose a POS system. For example, do you need to accept payments? Track inventory? Integrate CRM, manage employees?
Your needs will determine what is best for you.
Everything was considered, including pricing, features, security, ease of use, and accessibility. Next, I selected the best POS system for small businesses with up to 50 outlets.
I recommend only POS systems that have both hardware and software capabilities. This will help me maximize your profits and impact your business operations.
Here are some key points to keep in mind when selecting a POS system.
Complete POS systems include hardware, software, as well as payment processing. Because you don't need to purchase different parts, these are the ones that I recommend.
These all-inclusive systems cost anywhere from $30 per month for basic plans to $150+ for advanced plans. Most POS systems charge fees of up to 2% plus some cents per transaction in addition to the monthly cost.
Many POS systems offer customized plans if you have more than $250,000 in annual sales or if you need them to be installed on multiple locations.
Contact the sales department to take advantage of these savings. It could save you money down the road.
Easy of Use
It's not worth buying a POS system that is difficult to use.
The most intuitive POS systems are easy to use and use technology that is familiar to everyone. These systems include smartphones and tablets.
Square allows you to plug in a card reader directly into your smartphone, turning your Android and iOS devices into virtual cash registers. It's so simple!
Sign up for a demo to test it out before you purchase a POS system. You can see if the system is easy to use for you and your employees.
All POS systems will talk about their reporting capabilities. Some systems are limited in customization and offer a small number of reports.
Others, however, offer a multitude of pre-configured and advanced reporting filters. You can access real-time reports from the best POS systems via an app for your mobile device or a web browser.
Your sales, customers and inventory are all important reporting areas. Ensure that your POS system provides the reports you require to keep track and manage business activities.
Most POS systems allow you to add employees and grant them access to settings, sales information, or other features. It all depends on your requirements.
Some POS systems let you assign permissions based on role to employees. Others allow you to customize controls for individual employees.
Advanced POS systems can be used to track employee clock-in and out times, track sales and manage tips. Before you purchase a POS system for your employees, make sure you know what information you need.
First, ask yourself what level of customer information you need. What customer information do I need in order to provide exceptional customer service?
Because POS systems provide different levels of customer management capabilities, it's best to begin with these questions. You can use some to capture basic information such as email addresses, in order to send marketing emails.
Other products include a range of customer relationship management features (CRM), which allow you to create customer profiles, track purchase history, collect contact information and add notes.
You should choose a POS system which allows you to capture all the customer information that you require.
The basic POS system will allow you to manage your inventory. Advanced POS systems can be used to track components, manage vendors and place purchase orders.
It all depends on what you need. Before you buy, decide if you require basic or advanced inventory management capabilities and if your POS has them.
Depending on your monthly plan, most POS systems allow you to add-ons or integrates. These add-ons can be purchased for an additional fee on some POS systems. Gift cards, loyalty programs and reservation systems are some of the most popular add-ons.
The best POS systems can be connected to other business applications, such as email marketing or accounting software, for integrations.
Consider whether paying more for POS software is worth it.
The best POS system will vary from one business to another. Different types of businesses have different needs. A POS system that works well for one company may not be the best for another.
These are my top choices for POS systems. They all have a reputation for being reliable, trustworthy, and effective solutions. However, they can work in different situations. Let's recap:
- Square POS — The best overall small business POS system
- Shopify POS — The best for ecommerce retail integrations
- Toast POS — Great for restaurants and food business
- Vend POS — Ideal for multiple retail shops
- ERPLY POS — Ideal for small franchises
To find the right system for your business, use my buyer's guide. You should consider how each option will fit with your ideal customer experience online and in person.
You won't regret making a decision from any of these options, especially if it has been carefully thought out. Now it's time for you to get a POS system installed and begin selling.
By: Neil Patel
Title: Best POS Systems
Sourced From: neilpatel.com/blog/best-pos-systems/
Published Date: Wed, 22 Sep 2021 01:00:00 +0000