It may sound surprising, but not all store owners have invested in a POS system. In fact, it’s estimated that many small business retailers have not invested in POS systems for their business, despite annual cost reductions of at least 10% after implementing them.
And while that seems odd for an industry obsessed with streamlining and increasing convenience, not all business owners think POS software for convenience stores is a worthwhile investment.
However, while a whole new POS system may cost a little upfront (but not as much as you think!), it easily pays for itself. When the right mix of features is put in place, you can reduce time and costs for both you and your customers.
Still on the fence? Here are a few things to consider:
It’s a Time Saver
Rather than go through every receipt and bookkeeping entry by hand, an integrated POS system streamlines the accounting process at all ends; from ringing up customers to daily reconciliations. This is great news, as only about 15% of business owners count bookkeeping as one of their favorite things to do!
When a POS is integrated into a tablet-optional virtual cash register, it can save even more frustration down the road. If you wind up with cash register problems, have a line out the door, or decide to sell off-site at a festival or convention; this secondary option could cut down on a lot of headaches for everyone involved.
It Saves Money
It’s no wonder how if you cut down on time, you can also decrease operating costs. From a training standpoint alone, a new POS system can cut down on training efforts, grooming new employees faster and getting them to take over sooner than before.
Cutting down on register transaction times is a huge benefit as well. When customers can check out in a fraction of the time of your current register, you’ll enjoy fewer complaints and more repeat customers. And when the process is streamlined, there are fewer mistakes involved.
Okay, but don’t POS systems cost thousands of dollars? The answer is “not usually.” Like any product, especially a technical one, there’s a certain amount of variation in price depending upon the system you choose. While some POS systems may run a few thousand dollars, an average system today may cost less than $1,500.
Okay, but that’s still a lot of ramen noodles and coffee you could be spending that $1,500 on, right? What about the savings? Per market research, the true value in POS systems comes from cutting costs, mostly due to labor spent on managing inventory and bookkeeping. In fact, you may be able to cut your costs by up to 10%.
How much is that? It depends on your revenue of course. However, the average C-store reports gross revenue (not including gas) of around $1.2 million per year. Of course, your figures may be different, but you do the math: what does a reduction of 10% to your cost look like for you?
Not bad for a $1,500 investment. You might say you can’t afford NOT to have one.
More Convenience for You and Your Customers
When the right software is implemented into the corresponding hardware, it makes everyday tasks a breeze. Everyone has been in stores where the smallest customer request brings the entire operation to a screeching halt. And when the new guy on the register doesn’t remember how to correct the issue, it could wind up being a long trip for everyone involved.
That’s why the right software mix makes shopping more convenient for customers, as well as for management. POS systems are great, but they don’t always come with all the features you need on their own. With CStore Essentials'seamless integration with most POS systems, you can keep track of everything from inventory to lotto sales; all fully linked to your POS register. And if you happen to own more than one store, you can even connect over 50 stores with our multi-store management feature.
Not an Expense, But an Investment
POS systems and software are increasing in popularity and for good reason! The relatively low investment cost is one that pays for itself in both time and money saved. Truly, once you see the benefits of having a POS system in your store; you’ll wonder how you ever did without it.
