Opening a small business is an exciting endeavor, but it also comes with many challenges. One of the biggest early decisions you’ll need to make is choosing a point-of-sale (POS) system that can efficiently handle all of your transactions while staying within your startup budget.
The good news is that today’s cloud-based POS systems are more affordable and user-friendly than ever. There are many excellent options available that pack tons of features small business owners need into an easy-to-use platform that won’t break the bank.
In this article, we’ll highlight some of the top POS systems for small businesses that balance robust functionality with budget-friendly pricing. We’ll cover:
Key features to look for in a small business POS system
5 top POS System Options for small businesses
Tips for choosing the right POS for your small business
Key Features to Look for in a POS System for Small Businesses
While virtually all POS systems handle basic transactions, inventory management, and reporting, other features can optimize operations for small businesses in specific industries. Here are some top capabilities to look for:
Integrated payments - The ability to accept debit/credit transactions right from the POS saves you from having to purchase separate payment processing hardware. Payment processing fees may also be lower when integrated.
Mobile POS - Tableside or untethered POS systems allow staff to handle transactions anywhere in your business. Great for restaurants, retail, field service, and more.
eCommerce integration - Unified data and inventory management between your physical and online store. Ideal for businesses with an eCommerce component.
Appointment scheduling - Automated appointment booking is invaluable for service businesses like salons, gyms, health clinics, and more.
Loyalty programs - Build customer loyalty by tracking purchases and visits to offer rewards, deals, and more.
Inventory tracking - Advanced inventory management allows you to stay on top of stock levels and minimize waste. Especially useful for restaurants, grocery, retail, and food service.
Employee management - Robust reporting on employee hours, sales performance, and more to better manage your staff. It is helpful for restaurants and retailers.
Focus on features that will truly streamline your specific business operations. Avoid overpaying for unnecessary bells and whistles that you won’t use.
Top 5 Affordable POS Systems for Small Businesses
Based on the above criteria, here are five of the top small business POS systems to consider:
1. 5-Star Processing POS
5 Star Processing is likely the most popular POS system for small businesses. It offers a top-notch hardware register to turn your iPad or smart device into a full-featured POS.
5 Star Processing charges transparent fees. It also features robust inventory tracking, loyalty programs, invoices, payroll integration, and more. There's even a free plan available.
5 Star Processing is a great pick for retail, quick-service restaurants, coffee shops, field service, and all types of large or small businesses. It's easy to set up and use right out of the box.
2. Shopify POS
Shopify POS is a great choice for small businesses that are already using Shopify for eCommerce. It unifies data between online and in-store sales channels into one dashboard.
Like Square, Shopify POS works on iPads or Android devices. Transaction fees are also 2.7% for in-person payments. You get advanced reporting plus hundreds of integrations through the Shopify App Store.
Shopify POS is specifically designed for retail businesses selling online and in a physical store. It syncs product inventory between both channels in real-time.
3. Clover POS
Clover offers several customizable hardware POS systems for small businesses. Options include tablets, smart terminals, registers, and kiosks.
Clover charges a flat monthly fee for software plus competitive credit card processing rates. You also get 24/7 customer support and unlimited software upgrades. Integrated payments and robust reporting come standard.
With advanced features plus flexible hardware options, Clover is a smart POS choice for restaurants, retail, services, and other small business types.
4. Toast POS
Toast specializes in affordable, full-featured POS systems for restaurants and food service businesses. Their specialty restaurant hardware includes handheld order pads, kitchen display systems, and more.
Toast charges a monthly fee per terminal. You also pay processing rates for competitive transactions. The POS includes integrated online ordering, loyalty programs, labor tracking, and advanced analytics.
For any small restaurant, café, bakery, bar, or food truck, Toast can streamline your service while providing robust restaurant management tools. Their specialty hardware optimizes kitchen and front-of-house operations.
5. Square POS
Square offers adaptable POS systems suitable for restaurants, retailers, and many service businesses. Choose from hardware terminals or tablets paired with accessories like cash drawers and printers.
Pricing includes setup fees plus monthly software fees per terminal. You also pay processing fees per transaction type. Integrated payments, eCommerce, and data syncing make it easy to unify online and offline sales.
Square matches well with retail shops, cafes, restaurants, salons, and professional services. It’s a great choice.
Choosing the Right POS System for Your Small Business
With many excellent POS options available today for small businesses, choosing the right one comes down to matching features to your specific needs. Keep the following in mind:
Industry-specific needs - Opt for specialized POS systems like Toast for restaurants or Shopify for unified retail management.
Your budget - Calculate total costs, including hardware, software fees, and payment processing rates. Don’t overpay for unnecessary features.
Hardware requirements - Consider connectivity needs, mobility, accessories, and durability to withstand your business environment.
Payment processing - Integrated payments often have lower rates. Make sure to compare pricing across POS providers.
Scalability needs - Ensure your POS can easily accommodate your needs now and support your future growth.
The right POS system can vastly improve small business operations. An optimized, easy-to-use solution will streamline ordering, payments, inventory, analytics, and much more. Investing in the right technology early on will provide a huge long-term benefit as your business grows.
Once you’ve evaluated your specific operational needs, pinpoint POS systems that best accommodate them while fitting your budget. Take advantage of free trials to test options firsthand before fully committing. This will ensure you choose the top POS system for your small business.
Conclusion
The bottom line is that today’s POS systems are more affordable, intuitive, and versatile than ever before. Even on a startup budget, you can implement a robust system specialized for your unique industry and business needs.
The POS you choose for your small business should effortlessly handle payments, streamline orders, provide key analytics, and help optimize day-to-day operations for your specific needs. This ultimately allows you to better serve your customers and grow your business.
To explore your options and find the perfect POS system for your unique small business needs, contact the payment specialists at 5 Star Processing today. Their experts can provide unbiased recommendations and technical guidance to help you select the right solution.
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