Small Business For Sale

What would be the best piont of sale system for my Small Business?

Hi. I;m starting a small comic book shop with internet sales. And i was just wondering which P.O.S. system would be best for me? and why?

Well, Dad has some ideas, but I don’t see them as practical. I actually work in the industry, and I haven’t found anyone willing to give away the stuff in order to get a client. The fact is, it’s too important for POS providers to have to give it away. We close 4 out of 5 people we talk to about our systems. 1/2 of those that didn’t close originally come back to us later. So, if 90% of my prospects become clients, I don’t have to give my services out for free.

However, Dad’s right, you’re going to want to make sure you’ve got the feature set you’re after. I’ve heard good things from entrepreneurs with Quickbooks’ POS. It’s the least expensive, and it does pretty well.

I work with Microsoft’s RMS. For small companies (1 to 5 checkout stands and up to a few stores plus internet sales), this is a pretty good solution. It’s relatively easy to customize, it uses the strongest backend database, and it migrates quickly up to their more expensive products (Small Business Server, Business Dynamics, etc.)

As far as hardware goes, most POS providers will give you their recomendations that integrate with their software. I’d go with what they know. The hardware can be more finicky in this business than in general PCs. And, when you’ve got a customer checking out, you want to reduce the stress of that moment.

The parts you’re going to need:
– POS software ($300 – $2,000)
– PC to run the software ($300 – $1,000)
– receipt printer ($200 – $500)
– barcode scanner ($100 – $300)
– credit card reader ($100 – $300)
– merchant accounts (visa/mastercard, american express, and discover) (I’d suggest Pay by Touch, their fees and service seems to be the best for small retailers)
– merchant account gateway ($300 – $700)
– configuration time (applying business rules, etc.) ($600 to $1,000)

All told, you’re going to spend between $2,000 to $5,000 per workstation to get things running.

Things you’re going to want to ask yourself:
– How many stores do you reasonably expect to open in the next 12 months? Probably one, right?
– How many registers will you need. With a comic book store, probably one or two is all you’ll need.
– Will you be doing online sales?
– What accounting software are you using?
– What value add can you really create for past customers (sales, clubs, newsletters, etc.) How much time and money do you want to spend on CRM?
– If you are going to keep track of individual books and magazines, you may need the ability to use serial numbers. If so, make sure your POS supports that.
– Do you need to setup gift cards, loyalty programs, coupons, etc?

Finally, IBM and Microsoft have teamed up with a pre-bundled solution. You can buy this from one of them and have something working pretty quickly. Just remember, you’re going to spend between $60 and $150 per hour for a value added reseller to configure and maintain your system, so going with one out-of-the-box may actually save you some money upfront.

Good luck

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