Is your business checklist getting longer and longer?
Opening a new business is no easy task, and every little detail is essential. Don’t let your point-of-sale system get lost in the shuffle of city permits, hiring, loans, paperwork, and other business needs.
Imagine if your registers stopped processing credit cards? What if your POS systems shut down completely? All it takes is one point-of-sale error for your grand opening to come toppling down.
The right POS equipment matters. Don’t let the worse-case scenario happen to you.
Discover the dos and don’ts of buying used point-of-sale equipment.
What is a Point-of-Sale System?
Before you purchase a POS system, you need to understand the hallmarks of quality point-of-sale equipment.
A point-of-sale system, or POS, refers to the equipment used to process sales. This type of equipment is commonly known as cash registers.
Two factors go into a functioning POS system – hardware and software. Hardware is the equipment itself, while the software provides POS functionalities like credit card processing and sales reporting.
These POS systems are not the cash registers of the past. You don’t have to input prices manually, pull levers, or calculate sales tax and discounts. These are just a few of the perks of modern-day POS systems.
Today’s POS equipment should have the following basics:
- Sales reporting
- Employee time tracking (i.e., time cards)
- Inventory databases with SKU numbers
- Credit card processing
- Returns and refunds processing
- Sales promotion features
- Programmed reminders
- Customer purchase history
- Membership database
- Gift card creation
- Store credit features
Today’s businesses depend on the efficiency of modern POS systems. While technology has made retail sales easier, technical difficulties do happen.
Installing the right equipment from the get-go is critical. But is used equipment the way to go?
Should You Buy Used POS Equipment?
Starting a business is expensive in 2019. Not only is it pricey, but you also want to get everything right. But you don’t have to break the bank to achieve the perfect grand opening.
Buying a used point-of-sale system is one way to save money without cutting corners on quality. Used POS equipment works just as efficiently as brand new equipment, but there are some caveats.
Don’t just buy the cheapest POS hardware and software you find. The brands you use matter.
Top POS equipment brands include DELL, IBM, Panasonic, Fujitsu, Epson, and HP. Do any of these brands look familiar? Some of the most recognized technology brands also produce POS equipment.
Your business may not even need large point-of-sale equipment. Today’s kiosks and pop-up stores can use Apple iPads with installed POS software. You can install a POS system on your phone too!
Fortunately, you can purchase used top brands, including iPads, at a significant discount. What’s important is that your POS equipment works like new. Avoid outdated products that have been through the wringer.
Your chosen POS software must also be compatible with your hardware. Use the latest POS models available. Review your software and hardware specifications carefully before buying your equipment.
Talk to a POS specialist first before settling on a system. Purchasing used point-of-sale equipment is an ideal job for your in-house IT team. Managing a POS system requires knowledge of servers, troubleshooting, and so forth.
What Could Go Wrong?
Buying used POS equipment is a sweet deal, right? It is when it’s done right. Hastily buying used point-of-sale systems can have severe consequences.
Customers can be forgiving. You may get the benefit of a bad day, but you shouldn’t depend on it. Creating an ideal customer experience is so critical for your success.
Imagine this scenario: you own a toy store, and your staff is slammed during a holiday rush. All of a sudden, your registers stop processing credit cards! What do you do?
The worst-case scenario is that your store falls victim to old, outdated, used POS equipment. Worse yet, your registers are too old to run the latest point-of-sale software. To add insult to injury, tech support is no longer available for your outdated system.
Sales slip through your fingers as customers angrily leave the store without holiday presents. Customers can’t wait for employees to calculate sales manually.
This couldn’t happen to you, or could it? Unfortunately, this retail nightmare is all too familiar for small business owners.
Old, outdated systems are just one drawback of buying used POS equipment. Not only is obsolete technology challenging to troubleshoot, but it’s also vulnerable to hacking, theft, and other security issues.
Other drawbacks of used equipment include broken keyboards, broken item scanners, cracked monitors, malfunctioning touch screens, and cash drawers that won’t open. If you don’t have an experienced IT specialist on hand, these drawbacks are even worse.
Have a Backup Plan
Whether you have a new or used POS system, you need a backup plan in case something goes wrong. Shiny new POS equipment can crash and burn just as quickly as used products.
If your used registers go down, have your POS iPad — or android tablet — standing by. Make sure your POS software is compatible with registers and mobile devices.
If you don’t have an IT specialist on-site, train in-house staff to troubleshoot basic issues, the problem may not be with the equipment itself but with your servers or installation.
Keep your POS essentials well stocked, just like you would your inventory. Keep an extra register or two standing by when there are technical issues. Know when it’s time to upgrade your used POS equipment or sell it off.
Update your POS software, and make sure there is technical support available. Run virus scans regularly and install the latest cybersecurity solutions.
Start Generating Sales
Your growing business needs a reliable point-of-sale system that can keep up with the pace. Invest in used POS equipment that won’t let you down!
The right POS system is an essential building block of any business, but it’s not the only one. You need to check every box on on your business checklist. Bookmark this blog to discover even more essentials to running a profitable venture.
