Why Your Startup Needs a Mobile POS

When starting up a small business, investing in a point of sale (POS) system might seem like a necessary expense. However, the most important part of your first few months is growing your brand and expanding your reach.

A smart way to do this is by using a mobile POS system as opposed to a bulky computer-and-register POS system. Using a mobile POS system can be a relatively inexpensive way to get your business off the ground, and be a valuable tool for the growth of your business.

Extend Your Reach

Part of being a successful business owner is the ability to be everywhere your customers are. Mobile POS systems allow you to process credit card purchases anywhere you have a wireless connection with a simple card scanning add-on. See how this will help your startup:

• Eliminate lines in your store by allowing employees to walk right up to customers and run their credit cards quickly with no waiting time. When customers are allowed more time to wait in line, they have more time to reconsider their purchases.
• Use your mobile POS at tradeshows or open-air markets where you wouldn’t otherwise have access to a register. As long as you have your merchandise available, never miss out on a possible sale. Fundraisers or events also allow you to promote your product and make sales at the same time.

Lower Equipment Costs
If you are just starting out, spending a couple thousand dollars on a simple desk POS system can seem like a big investment. Using a mobile POS can drastically lower you startup costs and make the process of selling a whole lot easier.

• Most mobile POS companies will send you a free card reader in the mail, and will simply charge you a percentage of each transaction. Simple plug the reader into the audio jack of your smartphone and then download the software application to begin processing.
• Emailed receipts will help you cut back on paper and ink costs and are environmentally friendly.

Sync to Other Applications

Many of the mobile POS programs offer other features that go beyond simple credit card processing. Mobile bar code scanners can be used in retail stores to scan items for payment, and some systems can link to other applications like QuickBooks so that you can track inventory and keep records of your financial transactions.

Keep Payments Secure

Though some people are wary of new mobile technology and its ability to keep personal and financial information safe, the mobile POS process is becoming even more secure than traditional credit card processing.

• End-to-end encryption and tokenization over the network is used by most companies.
• Electronic signature capabilities are advancing and making it harder to forge signatures.
• Password protected phones prevent those with malicious intent from accessing information.

Total sales of handheld POS system devices reached $1.1 billion in 2011, and are projected to hit $3.1 billion by 2018, according to a forecast from Winter Green Research. Retailers who do not at least offer a mobile POS option are bound to be left in the dust and technology develops and changes the business world. Especially if your business is just starting up, incorporating a mobile POS system can be a great way to grow your business and your bank account.

Kate Webster is a blogger for Resource Nation. She writes about small business, focusing on topics such as mobile credit card processing. Follow Resource Nation on Facebook and Google+ too.

For more small business ideas, visit The New Business Idea. You can also get start-up instructions for 200+ businesses and download the Home Business Start-Up Checklist free from HomeBusinesscenter.com.