Years ago, POS systems were a luxury for only big enterprises. Thanks to the advancement in technology, from one-person retailers to multi-store owners is now accessible to different types of POS software. It is great, however leading to the challenge of choosing the most affordable plan for your business and saving the costs. In today’s article, we will sort out the abundance of options on the market based on POS pricing and equip you with simple tips to pick out the best one.
After doing the heavy lifting of market research, we have come up with 3 popular POS pricing plans that you can find on the market.
One-time payment POS
Some POS providers encourage you to pay at once to get the product package forever. Typically, it is a full-service plan meaning free installation, free update, and free 24/7support within one initial year.
You can also get a refund after purchase, for example, Magestore allows you to get one-year money back in case you feel dissatisfied.
Despite that, try to take into careful consideration of this POS pricing option because it will come to your big spending. This POS pricing plan is expensive for a good reason because non-recurring payment is time-saving by paying at once. Besides, you would have no concern on the updating fee because this package is all-inclusive.
Most POS suppliers do not publicize the one-time cost, but they detail the inclusive features in each package, for example, the Basic plan integrates POS core functions whereas the Premium plan surpasses by customer loyalty programs or mass stock transference.
If you are on the hunt for a monthly subscription to POS software, you will quickly be overwhelmed by many options online. Several suppliers of one-time POS licenses also offer various monthly subscription packages for your review, for instance, Lightspeed POS, CAKE and you can not count it!
Most POS providers offer subscription services that are usually divided into three pricing plans; additional features at a higher cost. The subscription costs ranging from $30 to $230 which hinges on the POS developers and your chosen package. If you have not ever registered any POS software, it is highly recommended that you can go for a starting point, the basic plan at first, then switch to the updated ones.
Additional fees you should be aware of are periodical maintenance fees and insurance. Once again, it differs from one manufacturer to another.
At this point, let’s walk through a shortlist of factors to choose the best POS subscription plan.
- Before jumping into research on how many features a package has, let’s have an overview of your retail business, such as what type is it? What is its size? How many brick-and-mortar stores do you have? etc.
- Subsequently, you should do some internal analysis. For instance, does your business have shortcomings you would like to solve? Like your messy stock prevents you from searching for customer’s orders. Do not just focus on your current demand, you could be cognizant of your future needs, what will your business roadmap look like?
- It is obvious that you must stay within a budget. POS equipment is a cost-effective investment but, do not go beyond your budget for the unneeded.
Custom payment POS
You can surf for a wide variety of personalized POS systems. Each business has unique needs like everyone has their own characteristics. Ergo, the benefit to pick a customized POS system is the great suitability.
With respect to POS pricing, you will be charged the initial costs of hardware like touchscreen terminals, usually fluctuating in the range of $1500 – $5000. Afterward, you will pay monthly for your custom software.
Other options are self-service kiosk POS and mobile payment processing app. With an interactive kiosk, a POS system is built for a specific purpose, such as a kiosk to buy movie tickets. As like that, payment processors are often set up on your mobile phone and you are on the hook to pay based on the amount of money transfer. These applications have all the core POS features, such as product catalog, simple tracking inventory, and a few customer management tools.
Traditional POS used to cost an arm and leg. With the development of technology, POS has become more budget-friendly. However, there is plenty of fish in the sea, let’s thoroughly think about your business and pick out the right from various POS pricing options above.
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