Can Your Growing Retail Business Survive Without a POS?
Short answer alert: Theoretically, yes. Practically, no.
You’re just trying to keep up with a booming business. Your clothing store, Chic Design, was doing okay until that trendy coffee shop opened up down the block. Since then, business has really picked up. You’ve been spending more time trying to balance your books, manage inventory and deal with employee scheduling rather than doing what you love - actually helping your customers shop.
It’s only been a week and you already feel burnt out.
Enter: Point Of Sale
ShopKeep's interface is intuitively designed to help you keep track of every aspect of your business
This is why we say that practically, your growing business can’t survive without a Point Of Sale (POS) system.
POS systems are an affordable and convenient way to turn your simple cash register into a business hub. Implementing one from a trusted brand like ShopKeep - which has an iPad POS solution favored by many small and medium sized businesses in the retail and food service industries - will provide you with a sleek payment terminal and automate a lot of your business transactions.
But besides just processing payments, here are some of the tasks a POS can help your expanding business with:
Cash-sales management: Track your revenue
With such a large portion of your payments coming in the form of cash, it’s so important that you don’t let a single dollar fall through the cracks, and a POS system will help you do just that by keeping track of your cash flow.
Inventory system: Keep up with demand
The above data shouldn’t be of any surprise to you at all. Put yourself in the customer’s shoes - wouldn’t you stop shopping at a store that was always out of items they’re supposed to sell? A POS system tells you when you’re running low on an item and this will prevent your customers’ disappointment.
Business analytics: Insights to keep improving
You might believe that one dress design is selling well, but until you actually crunch the numbers, you can’t be completely sure. And this is what a POS system can also help you with - business analytics. When you utilize a POS you can know exactly how well each item is selling and how much profit you’re truly making. Plus, you get to use cool terminology like equity and ROI.
Speed-Up Checkout and Returns
The most important interaction between you and your customer occurs during checkout.A POS system can easily automate the entire process, making it simpler and faster for everyone involved. That means consistently accurate price calculations, less lines and more satisfied customers. And, if your customers are happy, they’ll keep coming back to you for more, right?
Avoid the growing pains: Invest in a POS
So, yeah, you can theoretically keep going down the simple path and resist change for the foreseeable future, but it doesn’t seem like you’ll be able to hold out like this for the long run.
But if you want to dream big and grow bigger - reach more customers, get your store and books organized, keep track of even the smallest details and make your customers happy - your old system just won’t do.
To find out which system is the best fit for your business, head over to our review page where our leading experts break down the pros and cons of the top POS systems in the industry.
And you can also just choose to go with a Credit Card Processor, which will allow your growing business to accept all kinds of payments.