I need multiple POS systems with limited finances. What are my options? Should I look into used or cheap POS system?

This is a completely understandable concern and we got an email from a potential customer regarding this. The question is reflective of a smart customer, business owner, who categorizes POS Systems as an investment rather then a cost.

Questions about buying Point of Sale:

    1. Should I buy a used POS?

      Short Answer: NO

    2. Should I buy a cheap POS?

      Short Answer: NO

Generally speaking, we would say that your situation with limited finances depend on several matters.  We stress the importance of looking at other available options and strategies that will allow for growth without downtime due to faulty Point of Sale Systems.

  • Stage of business: If you have not started operations, then we would say make sure you are looking at POS as an investment and not simply as an expense. It is what will give you control over many aspects of your business and starts repaying you the minute you start using it.
      1. So, if you are just starting, look to see if you can reallocate other non essential or deferable expenses towards your POS investment.
      2. If you are already in business, see if you can cut any truly unnecessary expenses. Look at some of you reoccurring expenses and see if you can cut them by a few percentage. If you have already done all the math and still can’t budge it, then read on.
      • Financing option: We work with several financing companies to help with your financing, but we do not do in-house financing and do not gain any extra benefits when you finance. We see in-house financing and “kick-backs” as a conflict of interest and have decided to put out customers long term interest ahead. You can read more on this subject here: What is the Best Financing method for Point of Sale? In-House POS Financing or Third Party POS Financing?. As for financing, you can always choose this path. Your choice will depend on the rate you can get and how you can allocate the funds you are financing. If you go down the financing path, make sure to go with a trusted source, read the fine print, and read our blog: “free point of sale.
      • Expandable option: If the above options doe not work, then you can consider purchasing one expandable with the option to add a second system when you are ready.
        How do I accommodate my traffic with only 1 unit?
        A POS System should emphases on efficiency.  Transaction Speed is very important. Sintel Systems designed POS Systems based stability and efficiency.  Where most POS Systems process transactions from A to Z in just about a minute at best, we can get it done in under 20 seconds. If that is not enough you must be making enough money to buy another system quick. Read our blog on Importance of Processing Time.

IN CONCLUSION: Given the dependability of a business to process transactions using a POS System it is very important that your POS purchase is not a recipe for disaster.

          1. FOR EXAMPLE:  Let’s admit that it is possible to loose $10 a day do to various reasons ranging from miscalculation, to mishandling of money. That’s $300 a month.  Starting at $2500-$2800 for a Complete POS System including Support has only a break even point of 8-10 Months.
          2. FOR EXAMPLE:  Let’s assume that as a Business Owner/Operator it takes about 1 Hour per day, if not more, to complete all administrative duties such as opening, closing, and employee time clock management.  That’s 30 Hours a month. How much is your time worth? As an owner and manager, you should calculate your time at about $27 per hour to start.
          3. FOR EXAMPLE:  Let’s assume you need Time Cards so that employees can clock in and out. Weather they do it by hand or use the machine you still need to buy the supplies. That’s another cost you will not have since the POS System will supply you with the function and reporting of payroll hours.
          4. FOR EXAMPLE: Let’s assume each employee gains 5-10 minutes on average every day for being late or break time that’s not deducted. Working 5 Days a week with 5 employees a conservative estimate would be 125- 250 minutes a week wasted or 500-1000 minutes a month.  At a rate of $10 per hour that is 8-16 hours a week totally $80-$160 a month.

For these reason we stress the importance of prioritizing “Point of Sale” at the top with “Product” and “Location.”  It is important for Sintel Systems to provide high quality hardware and software and never provide any used or refurbished POS Systems. It is extremely important to distinguish between expenses and investments in your business. Try to avoid future disasters for the same reasons you would not buy an undependable delivery tuck if your company main line of work was delivery, or buy expired food products if you had a restaurant, or hire cheap labor to manage your business.  POS & security camera systems fall in the same category except that the rate of return on these investment far surpasses any other one.
Question or comments, contact us
EMAIL US: sales@magelessons.com
VISIT US ONLINE: www.SintelSystems.com