A Guide To Square Credit Card Readers And POS Bundles

 

Square made its name offering a free mobile credit card swiper, but the company has expanded so much in the past few years that there is now a massive array of hardware options, catering to all types of businesses. You can still get mobile card readers from Square if you don’t need more than just a phone or tablet and a swiper, but you can also get a countertop POS system complete with a customer-facing display, or a slim, portable credit card terminal with a phone-sized high-resolution screen and built-in receipt printer. And if you’d like to print paper receipts and have an automated cash drawer, Square offers a wide range of compatible hardware. You can even save some money by opting for one of Square’s ready-made bundles of hardware.

Let’s take a look at Square’s hardware options, including its mobile readers, POS systems, and POS kits. We’ll start with simplest options and move on to the most comprehensive kits. We’ll also talk about what you can do to control your costs and manage your cash flow with Square’s financing.

If you’re still curious about Square’s offerings, we also recommend checking out our complete, in-depth review of Square, which covers hardware as well as the software.

Square Mobile Card Readers

Square’s mobile card readers are meant to work with smartphones and tablets — unlike with some of the company’s “all in one” hardware solutions, if you go with a card reader it’s a “bring your own device” situation. Square’s mobile readers are ideal for businesses that are always on the go — farmer’s market stalls, service businesses, food trucks, etc. These card readers work with any of Square’s POS apps as well. However, compatibility with specific tablets or smartphones will vary — and you should check before you buy that a card reader is compatible with your device. Square has a helpful compatibility checker tool on its website for this purpose.

Square Magstripe Readers

Square has been offering free basic magstripe readers for years. The boxy design hasn’t changed significantly over the years and it’s simple to use. Recently, the company added a Lightning connector variant in addition to the 3.5mm headphone jack connector. Square used to sell a 3.5mm adapter, but that’s no longer available (because it’s no longer necessary). However, I will say that adapters from other makers will work for the same purpose.

New Square merchants get 1 free card reader; additional card readers sell for a very reasonable $10. Unlike PayPal Here, Square doesn’t impose any limits or restrictions on transactions processed with a magstripe reader — there’s no limit to the number of swiped transactions you can process before you trigger a hold. That’s a nice touch. However, if you do process large transactions or do a significant volume of credit card payments you should definitely look at upgrading to a chip card-capable reader.

Magstripe Reader Quick Facts 

  • Free for new merchants
  • $10 retail price
  • 3.5mm headphone jack or lightning port connectors
  • Supports magstripe transactions

Square Chip Card Reader

 

Square’s first chip card reader wasn’t particularly fancy, or even all that different from its elder sibling: it was boxy, with a headphone jack connector. And it has since fallen out of favor — partly thanks to Apple and its removal of the headphone jack on its iPhones. However, this entry-level chip card reader is still available at a reasonable price — ideal for merchants who want to accept chip cards but also save some money.

Square doesn’t offer a lightning connector variant for the Chip Card Reader, but as I mentioned, a Lightning to 3.5mm headphone jack adapter would work for iPhone users. This reader also requires the occasional battery charge because of the addition of the chip reader.

Chip Card Reader Fast Facts 

  • $35
  • 3.5 mm headphone jack connector
  • Requires battery charging
  • Supports magstripe and chip card transactions

Square Contactless + Chip Reader

Square’s Contactless + Chip Reader is a departure from Square’s earlier mobile credit card readers. First, it connects via Bluetooth. Second, it doesn’t support magstripe transactions at all. Instead, Square includes one of its free magstripe reader in the box as well. (To be honest, this design kind of disappoints me, but I figure that the Contactless + Chip Reader was designed to add EMV support to the Square Stand, which already has an integrated magstripe reader. So building magstripe support into the Contactless + Chip Reader was a moot point. Still, for merchants who don’t have a Square Stand, this might prove to be a small annoyance if the chip reader can’t read a card properly.)

Square also sells a charging dock, which can be plugged into a wall, or into the Square Stand’s USB hub. It sells for $29 separately. You can use it in a countertop retail environment and let customers insert their payment cards themselves, or you can set the dock aside and grab the reader by itself whenever you need to make a transaction.

Contactless + Chip Reader Fast Facts 

  • $49
  • Charging dock sold separately ($29)
  • Bluetooth connection
  • Supports chip card and contactless transactions
  • Basic magstripe reader also included

Square Countertop POS Devices

If you’d like something a little bit more permanent and stationary in your POS setup, Square offer options tailored to different environments. The offerings here get a little more complex, so bear with me!

Square Stand

The Square Stand has been one of the company’s core offerings for a long time — it is a tablet stand with a built-in card reader, all for a reasonable price (at launch, it cost $99). It swivels, it has minimal cords, and it looks good. Square has improved it slightly with the bundling of the Contactless + Chip Reader. That brings the price to $169.

Square doesn’t include a receipt printer for the Stand, but a printer is available in hardware bundles. Likewise, Square doesn’t include an iPad with the Stand, but you can purchase one directly from Square for an additional $329. Keep in mind that the current edition of the Square Stand only works for the most recent iPad models. If you have an older iPad, you can order a legacy stand from Square for $99, but the Contactless + Chip Reader requires iOS 9.3.5 or higher, and that version of iOS isn’t supported on an iPad 2 or other earlier models.

Because the Square Stand runs an iPad, it can also support merchants using Square Point of Sale, Square for Retail, or Square for Restaurants. There are an assortment of recommended hardware bundles for the Square stand, but if you prefer to build your own setup, you will be happy to know that the Square Stand supports USB, Ethernet, WiFi and Bluetooth printers, as well as other devices.

Square Stand Fast Facts 

  • Accepts magstripe, chip card, and contactless transactions
  • $169 (iPad sold separately)
  • Includes Contactless + Chip Reader (integrated magstripe reader in stand)
  • Compatible with Square Point of Sale, Square for Restaurants, Square for Retail, Square Appointments

Square Terminal

Square Terminal (read our review), the newest addition to Square’s lineup of hardware, takes the concept of the Square Stand and the traditional credit card terminal and combines them into one portable machine. The display is large enough to be a fully functioning POS (it runs Square Point of Sale, the free app). It accepts magstripe, chip card, and contactless transactions. It even has a built-in thermal receipt printer.

While you can operate Terminal by keeping it plugged in, Square promises the battery will last all day if you prefer to go wireless. You also get a cleverly-designed power brick and USB hub to connect accessories, such as the USB barcode scanner and cash drawer. Bluetooth accessories aren’t supported, so the USB hub will be important for some merchants.

While Terminal runs Square Point of Sale, it also offers some compatibility with the iPad-based premium POS app, Square for Restaurants. Specifically, Terminal can be used for tableside ordering and payments. It doesn’t support all of Square for Restaurant’s features, though, so it’s important that you make sure Terminal will really fit your needs.

Square Terminal Fast Facts 

  • Accepts magstripe, chip card, and contactless transactions
  • $399
  • $300 processing credit for new merchants
  • 2.6% + $0.10 per transaction
  • Compatible with Square Point of Sale (limited compatibility with Square for Restaurants)

Square Register

 

Square Register (read our review) definitely targets a higher-end market, with a price tag of $999 — not counting a cash drawer, receipt printer, or barcode scanner. However, for that price, you get a 13.25-inch screen running Square Point of Sale, as well as a 7-inch consumer-facing screen with integrated support for magstripe, chip card, and contactless transactions.

Square Register runs an Android-based version of Square Point of Sale, which means it’s not compatible with Square for Retail. However, you can take advantage of the back-end features if you opt to subscribe to Square for Retail. Specifically, that means access to the reporting features, including cost of goods sold and profitability reports. Square Register also integrates perfectly with Square Loyalty and allows customers to see the status of their loyalty accounts.

All in all, Square Register is an absolutely gorgeous piece of hardware that would look great in a retail space. The addition of the customer-facing display, combined with all of the supported hardware, brings Register on par with more traditional countertop POS systems.

Square Register Fast Facts

  • Accepts magstripe, chip card, and contactless transactions
  • $999
  • 2.5% + $0.10 per transaction
  • Compatible with Square Point of Sale (back end features compatible with Square for Retail)

Square POS Bundles

Square’s POS Kits are available for the Square Stand and Square Register — but if you’d prefer to use a different tablet stand for an iPad, Square also offers some alternatives. It would be a bit redundant and very overwhelming to go through every single bundle that Square offers, so let’s focus on what they offer, broadly speaking.

Square will first ask you to pick a category for your business. The options are limited — just food and beverages, beauty and wellness, or retail. However, those three categories cover a lot of industries. And honestly, you shouldn’t worry too much about picking the right category because the offerings will be similar. Check the options in each category and see which bundle you like.

After you’ve chosen an industry category, Square will also ask you about your Internet setup, specifically whether your business has a router. If you are relying on cellular data, obviously, there’s no router involved. But this question primarily affects what kind of printer Square includes in its bundles.

The biggest advantage to choosing a Square POS kit is the cost savings. Buying individual accessories from Square will cost more than buying a bundle. Square lists the prices as “starting at” for most bundles, but that’s usually because you have the option of purchasing an iPad direct from Square. (Note that you can only get the most recent model of iPad. Square offers POS bundles that support the iPad 2, for example, but you’ll have to acquire the iPad separately.)

Let’s start by looking at what the Square Register and Square Stand bundles look like, versus the alternative tablet stands.

Square Stand POS Kit

 

Square Stand on its own is pretty affordable, but if you opt for the bundle with the stand over buying individual components, you’ll save a small amount. Square suggests running the Stand with a router setup, which includes a USB hub for accessories, rather than wireless options. Your Square Stand Kit includes the following:

  • Receipt printer paper (25 rolls)
  • USB Receipt Printer
  • 16 in. Printer-Driven Cash Drawer
  • Square Stand for Contactless and Chip

If you decide against the Square Stand Kit, keep in mind that you can use any piece of hardware that works with an iPad running Square Point of Sale, as well as USB-enabled devices. That includes barcode scanners and receipt and kitchen printers in addition to cash drawers.

Square Register POS Kit

The POS kit for Square Register will add $530 to the cost, but it will save you $67 over buying the parts individually. (Also take note: You can’t order just the hardware bundle separate from the Register.)

In addition to the Register itself, the kit includes:

  • 16 in. USB Cash Drawer
  • USB Receipt Printer
  • Receipt printer paper (25 rolls)
  • Square Register

Square only recommends the Register kit for businesses with routers, not mobile setups. That’s not too surprising because it’s clearly not a mobile setup. Register does support some USB and Ethernet printers (and one WiFi printer), but it does not support as many devices as the Square Stand or just a standalone iPad. Square also offers compatible kitchen printers, which aren’t included in the bundles for food and beverage businesses, surprisingly.

Other Square POS Kits

If you’d still like to use Square on a tablet — but without the Register or Square Stand — you can get a selection of Heckler brand tablet stands designed for iPads, as well as Galaxy Tab A devices. They contain the following:

  • A tablet stand
  • A printer (Ethernet or Bluetooth)
  • Cash drawer
  • Receipt printer paper
  • Card reader (Magstripe or Contactless + Chip)

Prices vary by the tablet stand model, as well as whether the kit includes an Ethernet or wireless printer. Which card reader Square includes depends on the model of iPad (remember, early models of iPad can’t upgrade to the iOS version required to support the Contactless + Chip Reader). And again, you can mix and match tablet stands and other devices to create a custom setup, though you will ultimately pay more than if you chose one of Square’s pre-made bundles.

Other Square Accessories

When you check out Square’s hardware shop, you can also browse standalone accessories for Square’s products. I like that the site has added the ability to filter compatible accessories by the POS device. The available accessories include kitchen printers, USB and Bluetooth barcode scanners, WiFi routers, and more. However, these are far from your only options. Square actually supports an extensive array of hardware in addition to the options available directly through its own shop. And it’s great about publishing that list of confirmed, supported devices.

Should You Finance Your Square Hardware Purchase?

There’s one last factor to consider when shopping for hardware from Square: the cost. If you are worried about the price of Square’s hardware, or the overall price of accessories, you’ll be glad to know that Square offers financing on purchases of $49 or more. Generally, the limit is $5,000, but you can apply for an increased limit. Depending on the total sum you’re financing, Square offers payback terms of 3, 6, 12 and 24 months.

Square will deduct your payments from your total processing volume before disbursing funds to your bank, so you don’t have to worry about making monthly payments. Eligibility depends on a credit check, and the financing program isn’t available in all U.S. states yet. However, if you are eligible, this could be a great option.

Square’s markup for financing is incredibly reasonable, and the program is managed by Square directly so you don’t have to worry about a shady third-party stepping in. If you can’t afford the upfront investment in hardware, Square’s financing can help you manage your cash flow better. And I like that it’s not a leasing program — when you’re done paying off the hardware, you own it.

Which Square Hardware Is Right For You?

If your business is primarily on the go, you can get a cheap, affordable mobile card reader. If you’d like a countertop setup, there’s Square Terminal with its very small profile, Square Stand for a good entry-level piece of hardware, and of course, Square Register. Plus, the bundled kits from Square allow you to easily add a cash drawer, receipt printer, and any other hardware you need. The number of options can seem overwhelming, but it really comes down to how portable you need your hardware to be and what you can afford.

One of my absolute favorite things about Square is that the company offers a huge array of very affordable hardware for all types of businesses. Some companies might only offer a few options, use expensive leases, or charge an arm and a leg just for a single terminal. You don’t have to worry about that with Square. The price is right and there are hardware options to suit every business that work with all of Square’s Point of Sale apps. That’s a very powerful reason to go with Square already. Throw in the affordable credit card processing and the great customer service, and it’s easy to see why Square is a favorite among small businesses.

If you’re still just learning about Square, be sure to read our complete Square Review! You can also check out our Square Point of Sale, Square for Retail, and Square for Restaurants reviews to learn more about the point of sale systems.

Thanks for reading! Leave us your thoughts and your questions in the comments below!

The post A Guide To Square Credit Card Readers And POS Bundles appeared first on Merchant Maverick.

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Square Loyalty Program Review

Square Loyalty Promotional Image

The concept of a punch card is nothing new; coffee shops the world over have been slinging their punched out business cards alongside foamy espresso beverages for decades. Likewise, the concept of companies offering rewards to returning companies goes way back into the annals of entrepreneurship. But as the business sector dives further into the capabilities of digital tools, loyalty programs have come along for the ride.

Square has been tinkering with loyalty features since 2012. About two years ago, they stopped offering a free add-on to the basic Square POS, creating a paid-for loyalty product instead. After some concerns about that initial re-launch, Square Loyalty is back again with a new pricing scheme and feature list.

Square has consistently expanded its business products and generally does a decent job at creating useful tools that people feel confident implementing in their businesses. How well does the new version of Square Loyalty measure up? Let’s find out!

Reader eCommerce Retail Food Service
Free App & Reader Square eCommerce Square for Retail Square for Restaurants
Get Started Get Started Get Started Get Started
Free, general-purpose POS software and reader for iOS and Android Easy integration with popular platforms plus API for customization Specialized software for more complex retail stores Specialized software for full-service restaurants
$0/month $0/month $60/month $60/month
Always Free Always Free Free Trial Free Trial

Pricing

The price of Square Loyalty is determined by how many “loyalty visits” you get in a given month. A loyalty visit is exactly what it sounds like: whenever a customer signs up for or returns to your loyalty program, that counts as one visit. Square tracks your visits, then charges you based on the following pricing scheme:

Loyalty Visits Price Per Month
1-50 $25
50-100 $35
101-200 $50
201-500 $75
501-1,000 $125
1,001-2,500 $175
2,501-5,000 $250
5,001-10,000 $500

If you think you will require more than 10,000 loyalty visits in a single month, you will need to get in touch with Square for more information on exact pricing.

Ease Of Use

The team at Square has built their brand on the simplicity of their software; just about anyone can pick Square up and use it with little-to-no training. Not surprisingly, the loyalty rewards program operates with the same simplistic design. This is a system designed for intuitive use on both sides of the register for customers and employees alike. As long as you already use Square products for payment processing and point of sale, this will work just fine for you.

Setting up your rewards account is as simple as determining the economy of your rewards points (how many should customers get after a visit?) and creating the rewards themselves (how will customers spend their points once they have accumulated?). From there, you can refine your system as time goes on, making adjustments as needed–you will want to be clear with your customers about what is going on, though!

On the customer side, simply have new program members enter their phone numbers to sign up. From then on, your Square Register will remember the customer and apportion their points on subsequent views. Speaking as one who has encountered Square loyalty rewards in the wild, I can report that the system works well, and is even a little exciting!

Features

Square Loyalty comes with the following features:

  • Points System: You get to pick between three different loyalty schemes: by visit, by amount spent, or by item. Customers will get text message updates on the number of points they have built up. Basically, your decision for which system to use will come down to your industry and business model. Selling beverages or baked goods? Visit-based rewards might be best. Working retail? Amount-based might be best. Selling niche products? You might want to go by item.
  • Customer Rewards: You can select three different kinds of rewards that align vaguely with the three different loyalty schemes: free item, discount on the entire sale, or discount on a product category. Obviously, some business types will find one of these systems more useful than others; it’s up to you to determine which will be best for you.
  • Customer Data: Once your customers sign up for loyalty rewards, you can begin tracking information about them. In some industries — coffee shops, for example — you get to know repeat customers quickly as a matter of course. In others, it may be valuable indeed to know a bit more about your clientele, particularly things like their most purchased items and how often they visit your shop.
  • Analytics: Square gives you a bird’s eye view of how your loyalty program is helping your business, showing data on all your customers and how often they visit your shop. You can see how many people use your loyalty rewards, how many points they have, and more. This is the feature that will tell you how well your loyalty program is working, so I definitely recommend checking this out.

Final Thoughts

Square boasts that customers who enroll in their loyalty programs spend 37% more than non-enrolled customers. A cynical person might point out that the kind of person who signs up for a loyalty program would be automatically more likely to spend more at a particular store than other, but at the same time, 37% is difficult to argue with.

But is Square’s loyalty feature ultimately worth the price? I definitely found the monthly cost a bit prohibitive; $50 for just over 50 loyalty visits is a lot. It is possible that at higher subscription levels the price comes down and makes more economic sense, but in order for that to be true, you will need more customers to sign up.

On the other hand, from what I can tell, the feature set works reasonably well — especially when you consider how closely it plays with Square’s flagship POS product. That right there might make it worth it to stop and consider coughing up the cash, especially if you are using one of those snazzy new Square Registers. I suspect many Square Loyalty users hop on board the hype train for this very reason; they are already using some kind of Square product in the first place. In fact, one of the biggest caveats to Square Loyalty (apart from price) is the fact that in order to use it, you will have to already be using Square POS (at the very least); if you have a different system, this is not the loyalty program you have been looking for.

As usual, the final decision comes down to you. Are you using a Square product? Is the touted increase in customer engagement worth what might be an excessive price? Fortunately, you can give it a try before deciding for sure. Be warned though! Though Square provides a generous 30-day trial, your customers may feel less than generous if they discover that your rewards program has up and disappeared just as they were about to redeem one of their rewards. Tread carefully then, and make sure you are confident in your decisions before committing even to the free trial.

Reader eCommerce Retail Food Service
Free App & Reader Square eCommerce Square for Retail Square for Restaurants
Get Started Get Started Get Started Get Started
Free, general-purpose POS software and reader for iOS and Android Easy integration with popular platforms plus API for customization Specialized software for more complex retail stores Specialized software for full-service restaurants
$0/month $0/month $60/month $60/month
Always Free Always Free Free Trial Free Trial

The post Square Loyalty Program Review appeared first on Merchant Maverick.

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The 10 Best Restaurant Management Software Apps

It’s almost 2019, if you can believe it, and more than fall leaves or pumpkin spice lattes, tech fans like myself relish the smell of a freshly unboxed smartphone (thanks to Apple’s annual September unveiling). But it’s not just consumers who love mobile tech; businesses do too.  As mobile technology becomes more powerful, businesses — including restaurants — enjoy increasingly robust mobile hardware which can handle more powerful and nuanced software functions.

Indeed, restaurant managers, in particular, have an increasing number of mobile management applications at their disposal. From tablet-based POS systems that accept mobile payments to online reservation services that let customers reserve a table with an app, more restaurant management functions are being conducted online and on mobile devices. But with all the restaurant apps out there, how do you know which ones you should use? Think of it kind of like cooking: if you use too much or too little of an ingredient, it ruins the dish. Similarly, if you use too many management apps, there’s too much overlap in services (not to mention the fact that you’ll run out of bandwidth and money), and if you use just one or two services, you may miss out on critical features.

To help you out, I’ve put together this list of the top restaurant management apps in terms of both quality and popularity. From employee management to accounting to raw ingredient tracking, modern mobile restaurant software can help you with every restaurant management task you can imagine.

I’ve divided these top 10 best restaurant management apps into restaurant point of sale (POS) software apps—which are often complete restaurant management systems with few if any third-party add-ons required— and other restaurant management apps which offer more specific, targeted functionality.

Restaurant POS Systems

Toast TouchBistro Breadcrumb ShopKeep Lightspeed Restaurant

Toast

TouchBistro

Breadcrumb POS by Upserve

ShopKeep

Lightspeed Restaurant

ShopKeep alternatives for restaurants

Visit Site 

Review

Visit Site 

Review

Compare 

Review

Visit Site 

Review

Visit Site 

Review

Monthly fee

$79+

$69+

$99+

Get a quote

$69+

Cloud-based or Locally Installed

Cloud-based

Locally installed

Cloud-based

Hybrid

Cloud-based

Compatible credit card processors

Toast only

TouchBistro Payments, Square, PayPal, Moneris, Cayan, Chase Paymentech & more

Upserve Payments only

Shopkeep Payments & some others; contact your processor to see if they are supported

Cayan or Mercury in US; iZettle in Europe

Business size

Small to large

Small to medium

Small to large

Small to medium

Small to medium

The awesome thing about today’s app-based restaurant point of sale systems is that they are often complete restaurant management systems. Or if they do not include essential restaurant management functions, they will typically have integrations that work together with other restaurant management apps (for accounting, staff scheduling, inventory management, etc.). As such, your restaurant POS system is a good basis on which to build any other add-ons to your restaurant application suite.

1. Toast

Review Visit Site

Highlights

  • Android-based restaurant POS
  • All-in-one restaurant management system
  • Advanced inventory management
  • Add-ons for kitchen display system, kiosk POS, online ordering, delivery management, and more

Try it out: Schedule a Toast demo

Toast is a complete, Android-based restaurant point of sale system and restaurant management system for restaurants of any size. With strong front-end and back-end features, Toast not only takes payments with integrated payment processing, but also tracks your sales, labor, and inventory, organizing that information into useful, internet-accessible reports.

With mobile POS tablets, servers can send orders directly to the kitchen and even process payments right from the table. Kitchen display system and kiosk ordering are some other high-tech add-ons available for purchase from Toast.

Useful Features:

  • Customer data management system
  • Menu creation with comprehensive modifier system
  • Labor management including employee time tracking
  • Inventory management system that includes a recipe costing tool, food cost calculator, and menu engineering chart that shows you your best-selling and most profitable menu items
  • 24/7 customer support
  • Online ordering (extra monthly charge)
  • Delivery management system (extra monthly charge)
  • Customer loyalty program (extra monthly charge)
  • Gift cards (extra monthly charge)

Integrations With Other Restaurant Software:

  • Compeat
  • PeachWorks
  • CTUIT
  • CrunchTime
  • PayTronix
  • Bevager
  • GrubHub (online ordering and delivery)
  • Samsung Pay
  • Kitchensync

Toast also has an open API which lets you create your own applications, should you be so inclined.

The Quick & Dirty:

Pricing for this complete POS and restaurant management system starts at $79/month. Overall, Toast is a good option for restaurants that want a complete restaurant POS and management system and prefer a non-iPad POS.

2. TouchBistro

ShopKeep alternatives for restaurants

 

Review Visit Site

Highlights

  • iPad POS system for restaurants
  • Affordable
  • Locally installed
  • Compatible with multiple payment processors
  • Table management with reservations add-on

Get started with TouchBistro: Get a custom quote

TouchBistro is a bestselling iPad POS app for restaurants. While it isn’t an “all-in-one” restaurant management system like Toast, it’s cost-effective, easy to use, and very good at what it does. TouchBistro runs as an app on via one or more iPads, with multi-iPad setups keeping in sync via a local Apple server.

TouchBistro does have some online reports allowing you to view your restaurant metrics anywhere with an internet connection, but it does not require a WiFi connection to operate, other than to process credit card payments. TouchBistro integrates with multiple payment processors.

Useful Features:

  • Tableside ordering
  • Table management with visual layout
  • Menu management
  • Kiosk option
  • Employee management
  • Loyalty program (extra monthly charge)
  • Reservations function with TouchBistro Pro

Integrations With Other Restaurant Management Software:

  • 7Shifts
  • Xero
  • Shogo
  • Square
  • Quickbooks
  • JUST EAT (for online ordering)

The Quick & Dirty:

In summation, TouchBistro a very capable iPad POS for small-to-medium restaurants that are budget-conscious and may not have a powerful internet connection. Pricing starts at $69/month.

3. BreadCrumb POS By Upserve

Review

Highlights

  • All-in-one restaurant POS and restaurant management system
  • iPad-based
  • Fully cloud-based
  • Fully integrated online ordering
  • Must use Upserve for payment processing

Compare: Compare Breadcrumb with other top-rated iPad POS software

Breadcrumb is an all-in-one restaurant management and iPad POS system which could perhaps be considered the iPad-based answer to Toast. Comprehensive restaurant-centric management features that let you manage tables, employees, and menu items with a few finger taps make this restaurant software application suitable for any full-service or quick-service restaurant, no matter the size.

Breadcrumb is fully cloud-based and requires no on-premise server. In-house payment processing is provided exclusively by Breadcrumb’s parent company, Upserve.

Useful Features:

  • Customizable interface
  • “Offline” mode allows you to continue using POS and taking payments if internet goes down
  • Table management with color coding and meal progression graphic
  • Choice between “Server” mode with table view and “Quickserve” mode for bartenders and other quick orders
  • Fully-integrated online ordering system
  • Detailed online reporting suite
  • 24/7 support

Integrations With Other Restaurant Software:

  • Grubhub
  • Shogo
  • Restaurant 365
  • CTUIT
  • Peachworks
  • 7Shifts

The Quick & Dirty:

Breadcrumb pricing starts at $99/month. Again, it’s a solid all-in-one restaurant POS system for iPad with an array of restaurant features. When compared to Toast, however, Breadcrumb might come up slightly short in some respects, such as inventory management. However, Breadcrumb offers integrations with third-party restaurant apps to help fill in any functionality gaps.

4. ShopKeep

Review Visit Site

Highlights

  • Powerful retail and restaurant tools
  • Available on iPad (Analytics app on iOS)
  • Multiple hardware options available
  • Pricing based on custom quotes 
  • Loyalty program only as add-on

Excellent all-around POS: Get your custom quote

While it can be used for either restaurant or retail environments, ShopKeep is a great all-around POS software system that’s reasonably priced and extremely easy to use. Aimed at small businesses in particular, this iPad POS software has a pleasant, Apple-centric interface with convenient register buttons for the most popular menu items. ShopKeep uses a “hybrid” data storage system in which data is stored locally on your restaurant’s iPads, and then syncs back to the cloud when there is an internet connection.

As with the other restaurant POS apps on this list, ShopKeep has integrations to make up for any restaurant management features it doesn’t have, such as advanced inventory management and online ordering.

Useful Features:

  • Integrated ShopKeep Payments payment processing
  • Comprehensive register functionality
  • Extensive back-office reporting suite
  • Raw ingredient inventory management
  • 24/7 customer support
  • Staff management tools
  • ShopKeep Pocket App to track restaurant metrics from iPhone or Android

Integrations With Other Restaurant Software:

  • MailChimp
  • ChowBot (online ordering and delivery)
  • Quickbooks
  • AppCard

The Quick & Dirty:

ShopKeep is an affordable and capable iPad POS that works well for small restaurants of any type. ShopKeep pricing is customized based on your individual business’s needs and is comparable to TouchBistro or Lightspeed Restaurant. Note that while Shopkeep does provide fairly priced in-house payment processing via Shopkeep Payments, you can also use an outside payment processor.

5. Lightspeed Restaurant 

Review Visit Site

Highlights

  • Affordable iPad POS for restaurants
  • Fully cloud-based
  • Also works on iPhone and iPod touch
  • Best for small-to-medium restaurants

Try out Lightspeed Restaurant: Free trial offer

Lightspeed Restaurant is an app-based iPad POS system built specifically for—you guessed it—restaurants. Lightspeed is not the most complete restaurant POS out there, but it is highly mobile-friendly and certainly delivers a lot of bang for your buck.

The Lightspeed Restaurant app requires iOS 9.3 or later to operate and you can access the backend via any internet-connected web browser. In addition to iPads, Lightspeed can even be used on an iPhone or iPod touch, though using the app on those two devices is best for basic features such as clocking in and quick orders.

Useful Features:

  • Intricate employee management
  • Raw ingredient tracking
  • Tableside ordering lets servers show pictures of menu items to customers
  • Floor planner
  • 24/7 phone support excluding holidays
  • Ability to set up timed promotions
  • In-depth reports

Integrations With Other Restaurant Management Software:

  • Resengo
  • Orderlord
  • QuickBooks
  • Xero
  • MarketMan
  • AppCard
  • Multiple online ordering services

The Quick & Dirty:

Lightspeed Restaurant pricing starts at $69/month. This cloud-based iPad POS app is perfect for small-to-medium restaurants of any type.

Other Restaurant Management Apps

What follows are some more restaurant management apps. Rather than the complete restaurant management tool that POS systems provide, these apps have a limited, specific function — like reservations or email marketing — and may integrate with your POS system or be used separately.

opentable

6. OpenTable

OpenTable is an online reservation and waitlist system that’s convenient to use for both restaurateurs and customers. You can access the app on your smartphone or tablet to view or change reservations, and to see your waitlist in real time. OpenTable is a highly useful tool for restaurant managers and waitstaff alike.

Useful Features:

  • Guests can make online reservations from your website, the OpenTable app or website, or third-party
  • Monitor status of each table in your restaurant
  • Shift management tool

POS Integrations:

  • Aloha
  • Micros
  • POSitouch
  • Heartland Dinerware
  • Squirrel Systems
  • Toast (coming soon)

The Quick & Dirty:

OpenTable is online reservation software for restaurants of any type, especially favored by trendy, upscale bars and eateries. OpenTable’s “Connect” option has limited features but only costs between $0.25 and $2.50 for each booked guest. The “GuestCenter” option with more advanced restaurant management features and POS integration is $249/month + $1 per reservation.

7. Fivestars

fivestars logo

Fivestars is a mobile rewards program for local businesses such as restaurants. Customers sign up for Fivestars’ loyalty program either at your restaurant or via the Fivestars mobile app and start earning rewards and receiving promotional offers via text, email, or push notification. Your staff then redeems your customers’ rewards and offers from your POS or a mobile device.

Fivestars also has a lot of cool marketing features that vary depending on which plan you choose. Whether you want to encourage repeat business or gain a competitive edge on other restaurants in your area, Fivestars will help you do both.

Useful Features:

  • Automated rewards and promotions
  • Send one-time offer anytime your sales need a boost
  • Multiple options for setting up rewards system, e.g., customers could earn points per-dollar, per-visit, etc.
  • Social media integration
  • Customer data collection

POS Integrations:

  • Clover Station
  • Clover Mini
  • QuickBooks POS
  • Harbortouch
  • Aloha
  • Aldelo
  • Windows POS

The Quick & Dirty:

Fivestars online loyalty software is especially popular among cafes and coffee shops, but it’s also used by full-service restaurants, bars, bakeries, smoothie shops, and every other type of brick-and-mortar eatery. Fivestars’ starter plan—which includes two customer-facing tablets, POS integration, the Autopilot program, onboarding and three training sessions—is $279 per month.

Best Accounting Mobile Apps

8. QuickBooks Online

QuickBooks is essential accounting software for small businesses, and restaurants are no exception. In recent years, this quintessential business software has become has become more online and mobile-friendly, with the introduction of QuickBooks Online and excellent mobile apps for iOS and Android.

Besides making accounting tasks simple and affordable for independently owned restaurants, cloud-based Quickbooks Online also integrates with most modern restaurant POS systems.

Useful Features:

  • True double-entry accounting
  • Live bank feeds for easy bank reconciliation
  • Unlimited estimates and invoices
  • Accounts payable with ability to create purchase orders and convert them to bills
  • Easy-to-use payroll and other employee management features (for additional cost)

POS Integrations:

Quickbooks Online integrates with most restaurant POS systems. Usually, the question is not whether Quickbooks integrates with your POS, but rather, the quality of the Quickbooks/POS integration. A direct, seamless integration is ideal. Here you can read about 7 POS system that have direct integrations with Quickbooks.

The Quick & Dirty:

QuickBooks online is cloud-based accounting software for any internet connected device. Depending on which features you need, QuickBooks online will set you back between $15 and $50/month.

Xero logo

9. Xero

Xero is a QuickBooks alternative which many restauranteurs around the world use every day to manage their restaurant’s accounting tasks. Just like QB Online, Xero has both iOS and Android apps and can be accessed via any internet-connected device. Xero also integrates with many cloud-based restaurant point of sale systems.

Xero doesn’t have as many features as QuickBooks; for example, payroll support is limited to only 37 states and there is no job-costing feature. However, Xero also costs a lot less than QuickBooks.

Useful Features:

  • Accounts payable feature with recurring bills and purchase orders
  • Unlimited users with extensive user permissions controls
  • Double-entry accounting
  • Excellent customer service
  • Easier to use than QuickBooks (in most respects)
  • 500+ integrations

POS Integrations:

While Quickbooks is the most popular accounting software system, Xero is catching up and most major POS systems integrate with Xero as well as Quickbooks. Some of these systems include:

  • Square for Restaurants
  • Nobly POS
  • TouchBistro
  • Lightspeed
  • Vend
  • Shopify POS

The Quick & Dirty:

With pricing starting at just $9/month, online accounting app Xero is a more affordable QB alternative for restaurants that don’t need every advanced accounting feature.

10. MailChimp mailchimp logo

MailChimp is email marketing software you can use to boost the online marketing efforts of your restaurant. While most POS apps include some email features, they are usually somewhat lacking. With a fully featured email marketing program like MailChimp, you can set up automated email campaigns to build customer loyalty, advertise promotions, and grow your social media following.

MailChimp is entirely cloud-based; the company also offers a mobile app for iOS and Android devices.

Useful Features:

  • 23 basic templates and hundreds of theme templates
  • Easy list segmentation
  • Advanced email campaign reporting
  • Robust free plan includes up to 2,000 subscribers and sends up to 12,000 emails per month.

POS Integrations:

  • Revel Systems
  • Shopkeep
  • Lightspeed
  • Epos Now

The Quick & Dirty:

MailChimp has a very decent free plan and paid plans start at $25/month, scaling up depending on how large your list is (and how many features you want). This easy-to-use ESP supports both small start-ups and large corporations.

Final Thoughts

A successful restaurant business has the same basic ingredients it did 20 years ago or even 200 years ago: delicious food, happy customers, excellent service, and organized behind-the-scenes processes to keep everything running smoothly. However, the tools used to achieve restaurant success have changed with advances in technology. Everything from taking payments, to advertising, to bookkeeping, to employee management has been digitized.

One important job of restaurant management that can’t be replaced with automation is the restaurant manager herself. Being awesome at your job, I’m sure you will do a great job selecting the management apps that work for your unique restaurant business. Have fun with the selection process and make sure you utilize free trials of all of these apps so you can be sure the restaurant management software you choose works great for your needs before you commit.

The post The 10 Best Restaurant Management Software Apps appeared first on Merchant Maverick.

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How To Set Up Gift Cards With ShopKeep

Ahh, the gift card. That classic capitalistic invention that makes every recipient say “Thanks?” Why give cash when you can give something that works exactly like cash…but only at one business (if you remember to bring it at all)?

But, in all seriousness, gift cards are an extremely valuable and important aspect for small businesses. It’s estimated that more than $100 billion is spent annually on gift cards, making it a quick and painless way to increase your profits and improve customer engagement.

ShopKeep, one of our highest-rated point of sale systems, has a highly intuitive gift card integration — one you should seriously consider adding if you’ve chosen ShopKeep as your POS.

Read on for a quick and easy guide to setting up your gift card integration with ShopKeep.

Get Started With Shopkeep

Why Use Gift Cards?

There are any number of reasons why you might want to offer gift cards in your retail store or restaurant. Maybe you want to increase engagement with your brand or make your store stand out from the competition. Or maybe you just want to demonstrate that there are concrete benefits to shopping at your business.

Whatever your justification for offering them, gift cards just make sense for most business models. According to ShopKeep, gift cards provide an easy way to attract new customers by serving as marketing tools. They are “mini billboards,” in essence.

How To Set Up Gift Cards With ShopKeep

You can call ShopKeep to set up gift cards and have someone talk you through their customization options. Please note that ShopKeep only offers gift cards with select pricing plans and they are currently only available in the United States.

Step 1: Activate Gift Cards for your POS

The first thing you’ll want to do once you’re ready is to add gift cards to your tender. To do this, you’ll need to log into your Back Office and click on Options. Then, select the Tenders tab on the left-hand side of the screen.

This will bring up a new page. Scroll down and check the box that says Gift Cards.

Next, you will want to create an item for gift cards that you can easily access from your POS system. Click on the Items option in the top left-hand corner and scroll down to select Items List. In the top right-hand area of the screen, there will be an option for you to add a new item. Give this new item a name (I would suggest Gift Cards or Loyalty). On the same screen, click on the Priced tab and switch the checkmark from Back Office to In Store. Also on this screen, you can switch the taxable tab to No. You will also want to make sure to check the box at the bottom beside Liability.

Right below that box will be a tab labeled Tender. Select Gift Card (or Loyalty, or whatever you may have named it). Make sure that you click the Save button at the bottom once you are finished with this process.

Step 2: Using the Gift Card Function

You should now be able to see a Gift Card button on your front screen, giving you the ability to sell gift cards or accept them for purchases. To add a gift card to someone’s ticket, simply click the button and then type in the desired amount.

Select the Cash button on the right-hand side of the screen when the customer is ready and swipe the physical gift card.

To accept a gift card as a method of payment, the process is simple. After the customer’s ticket is complete select More on the right-hand side by payment options, then select Gift Card. You or the customer will then swipe the card to apply the balance to the purchase. If the customer still owes money on their purchase, you will be prompted to take another method of payment to pay off the balance. If there is still money left on the gift card, the receipt will inform the customer of his or her balance.

If a customer would like to simply check his or her balance, open the Control Panel and click Gift Cards. Then swipe the customer card and you will be able to view the amount on the card.

It may seem like a slightly convoluted process — admittedly, there is a lot of button pushing required to set up ShopKeep’s otherwise convenient and intuitive gift card functionality. However, gift card setup should only take a couple minutes at the most. For more information, ShopKeep has created a helpful introductory video, as well as an FAQ page on its website specifically for gift cards.

Get Started With Shopkeep

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Guide To Buying ShopKeep Hardware

There are a lot of reason why ShopKeep is among our most recommended point of sale systems for small businesses. This product remains one of the more affordable options on the market while giving you a wide variety of features to help your retail or restaurant establishment function efficiently. Chances are, if you’ve decided to go with ShopKeep or are heavily leaning in that direction, you appreciate convenience. You don’t want to spend any more time than absolutely necessary sweating some of the seemingly mundane aspects of starting a business — such as researching and purchasing all of the necessary hardware you might need.

Fortunately, ShopKeep makes this process easy as well. ShopKeep offers an impressive array of hardware bundles and individual items from some of the top-rated companies around all for purchase through their website, making it possible to get absolutely everything you need in one convenient stop. Here’s a brief overview of the hardware that ShopKeep has to offer.

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Hardware Delivery & Shipping

To get started, ShopKeep will ship all hardware within the continental United States for free with no minimum purchase and all orders generally arrive within 7 business days. They will also ship to Hawaii, Alaska, and Canada for an additional fee.

ShopKeep has a generous replacement policy, offering to replace any new equipment that fails to work properly within one year. The same agreement applies to refurbished hardware for 90 days. You may also return any hardware, no questions asked, within 30 days of purchasing it to receive a full refund. Shipping back to ShopKeep is free.

Get Started With ShopKeep

Hardware Bundles

ShopKeep offers some convenient Starter Kits to get your business up and running quickly.

  • Basic Starter Kit for iPad: $809 or $839 if you choose Bluetooth printer
    • 14×16  Cash Drawer
    • Epson 2″ Ethernet Printer or Epson 2″ Bluetooth Printer (
    • iPad Air Stand
    • Ethernet Credit Card Reader
    • Compatible with Apple iPad Air/Air 2 and Apple iPad Pro 9.7″
  • Basic Quick Service Starter Kit for iPad: $1166 or $1196 if you choose Bluetooth printer
    • 14×16 Cash Drawer
    • Epson 2″ Ethernet Printer or Epson 2″ Bluetooth Printer
    • iPad Air Stand
    • Ethernet Credit Card Reader
    • Epson Kitchen Printer
    • Ethernet Cable
    • Compatible with Apple iPad Air/Air 2 and Apple iPad Pro 9.7″
  • Basic Restaurant and Bar Hardware Kit for iPad: $1166 or $1196 if you choose Bluetooth printer
    • 14×16 Cash Drawer
    • Epson 2″ Ethernet Printer or Espon 2″ Bluetooth Printer
    • iPad Air Stand
    • Ethernet Credit Card Reader
    • Epson Kitchen Printer
    • Ethernet Cable
    • Compatible with Apple iPad Air/Air 2 and Apple iPad Pro 9.7″
  • Basic Retail Hardware Kit for iPad: $1297 or $1327 if you choose Bluetooth printer
    • 14×16 Cash Drawer
    • Epson 2″ Ethernet Printer or Epson 2″ Bluetooth Printer
    • iPad Air Stand
    • Ethernet Credit Card Reader
    • 1D Laser Barcode Scanner
    • Compatible with Apple iPad Air/Air 2 and Apple iPad Pro 9.7″
  • Complete Quick Service Hardware Kit for iPad: $1369 or $1399 if you chose Bluetooth printer
    • 14×16 Cash Drawer
    • Epson 2″ Ethernet Printer or Epson 2″ Bluetooth Printer
    • iPad Air Stand
    • Epson Kitchen Printer
    • Ethernet Cable
    • Cash Drawer Mount
    • Thermal Paper – 50 Roll Case
    • 1-Ply Bond Paper – 50 Roll Case
    • Ethernet Credit Card Reader
    • Compatible with Apple iPad Air/Air 2 and Apple iPad Pro 9.7″
  • Complete Restaurant and Bar Hardware Kit for iPad: $1369 or $1399 if you choose Bluetooth printer
    • 14×16 Cash Drawer
    • Epson 2″ Ethernet Printer or Epson 2″ Bluetooth Printer
    • iPad Air Stand
    • Epson Kitchen Printer
    • Ethernet Cable
    • Standard Duty Cash Drawer Mount
    • Thermal Paper – 50 Roll Case
    • 1-Ply Bond Paper – 50 Roll Case
    • Ethernet Credit Card Reader
    • Compatible with Apple iPad Air/Air 2 and Apple iPad Pro 9.7″
  • Complete Retail Hardware Kit for iPad: $1519 or $1549 if you choose Bluetooth printer
    • 14×16  Cash Drawer
    • Epson 2″ Ethernet Printer or Epson 2″ Bluetooth Printer
    • iPad Air Stand
    • 1D Laser Barcode Scanner
    • 7 Series USB Charging Cradle
    • Cash Drawer Mount
    • Thermal Paper – 50 Roll Case
    • 1″ x 1.5″ Barcode Labels
    • Label Printer
    • Ethernet Credit Card Reader
    • Compatible with Apple iPad Air/Air 2 and Apple iPad Pro 9.7″
  • Mobile Register Kit: $198
    • iPad Mini Handheld Enclosure
    • Lightning Credit Card Swiper
    • Compatible with iPad Mini 2/3
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A La Carte Hardware Options

Of course you can also purchase hardware a la carte if you don’t need everything in one of the packages or already have existing hardware that is compatible with ShopKeep.

Card Readers:

  • Magtek Lightning Credit Card Swiper: $99
  • Ingenico Credit Card Reader (EMV Enabled): $329
  • Ingenico Bluetooth Credit Card Reader
  • Vault Credit Card Reader Stand: $49

Printers:

  • Epson Bluetooth Printer: $269
  • Epson Ethernet Printer: $239
  • Epson Kitchen Printer: $331
  • DYMO Label Printer: $119

Cash Drawers:

  • APG 13×13 drawer: $109
  • APG 14×16 drawer: $112
  • APG 16×16 drawer: $139
  • Cash drawer mount: $35
  • Cash drawer till: $29
  • Cash drawer till cover: $29

Barcode Scanners:

  • Socket Mobile 1D Scanner: $269
  • Socket Mobile 2D Imager Barcode Scanner: $449
  • Socket Mobile 7 Series USB Charging Cradle: $79
  • Socket Mobile 2D Imager Stand: $149

iPad Enclosures;

  • iPad Mini Handheld Enclosure: $99
  • iPad Mini Stand: $109
  • iPad Pro Stand: $139
  • iPad Stand: $129
  • Freeform Made iPad POS Stand: $199

You can also purchase gift cards, labels, printer and receipt paper, and a variety of USB and ethernet codes directly through ShopKeep.

Get Started With ShopKeep

Ready To Buy ShopKeep Hardware?

No matter how equipped or completely green you are as you’re starting your business, ShopKeep has you covered. Not only do they provide you with a wide variety of hardware options, they are stocked with some of the most trusted and best-reviewed brands on the market.

If you’ve decided to go with ShopKeep, you’ve already made an informed decision for your POS needs. They also make it very difficult to go wrong when selecting all of your necessary hardware. Hopefully, we’ve just simplified the process slightly.

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Get a complete POS hardware bundle for free! For new customers only, while supplies last. Act soon – expires 9/30/2018. Get Started

The post Guide To Buying ShopKeep Hardware appeared first on Merchant Maverick.

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Should I Buy A Franchise & How Do I Start?

buying a franchise

Becoming a franchise owner is a career path some people look into when their life circumstances change. For example, recent retirees or veterans returning to civilian life often turn to franchising. But really, you don’t have to have any special circumstances or qualifications to become a franchisee. You do, however, need to know what you’re getting into before you make such a major decision.

While there are plenty of benefits to owning a franchise, there are some downsides too, and you’ll need to determine which things you can live with and which will be dealbreakers for you.

There are specific perks to purchasing an existing franchise, also sometimes called a “franchise resale,” as opposed to opening a new franchise location: you will start out with a cheaper initial investment and an established customer base, with minimal setup or hiring requirements, provided that equipment and employees are included in the sale.

However, when buying an existing franchise, you’ll also need to do careful pre-purchase research to make sure the franchise is a good investment—the owner could be selling because the franchise is underperforming due to a poor location, for example.

In this post, I’ll go over the pros and cons of buying a franchise to help you figure out whether you should make the leap of becoming a franchise owner. I’ll also give you some useful tips on how to start down the path of owning your own franchise business.

Pros Of Buying A Franchise

Buying a franchise is not for everyone. But there are some unique benefits to this career move, making it perfectly suited to the right type of entrepreneur.

1. Turnkey Business

A franchise can be considered a “turnkey business,” which means that it has pretty much everything you need to start operations immediately. All you need to do is “turn the key,” so to speak, to open up for business and start selling.

With a franchise purchase, the sale typically includes the facilities, equipment, and software systems (including the point of sale and accounting software), and even the (already trained) employees in most cases. Your raw materials suppliers, operating procedures, and advertising strategies are already in place as well, requiring only your capital investment and personal labor to get started.

Besides having all the ingredients to start operations, as a franchisee, you open for business on Day 1 with a proven and successful business model. This helps undercut the risks of owning your own business, especially if you are new to business ownership.

2. Minimal Startup Costs

Aside from the cost to purchase the franchise, and sometimes the franchise transfer fee (you should try to get the selling franchisee to pay this if you can), there are negligible startup costs to get your franchise resale up and running, since, well, it’s already up and running!

You will, of course, have to start purchasing your own raw materials to keep operations going, though you will need to invest less startup capital overall than you would if you opened a franchise from scratch.

While business acquisitions have lower startup costs in general compared to new businesses, this is especially the case with franchise acquisitions, as the uniform nature of any franchise brand allows for few, if any, significant changes in operations from one owner to the next.

Note that when you buy an existing franchise, most franchisors will not have you pay a franchise fee—the costly fee required to open a new franchise—but they may require you to pay for initial training.

3. Built-In Support

Technical support, customer support, and other assistance is an inevitable and potentially costly part of just about any business endeavor. A big benefit of being a franchise owner is that you don’t have to figure these things out for yourself. The parent company typically provides training, marketing campaigns, assistance with management, and customer support. And when purchasing an existing franchise, support channels such as technical support, employee support, etc., will already be open and readily accessible, so all you’ll have to do is learn them.

Aside from an initial training fee when you join the franchise, the cost of training and other support channels is included in the royalty fees you pay the franchisor from your gross sales.

As a franchisee, can also easily access a network of support and advice from other franchisees online. Even if you just want to vent or relate to other franchise owners, there are plenty of websites and message boards where you can do this.

4. Brand Recognition

Everyone already knows your franchise brand and you already have tons of fans on day one. A well-known product advertises itself, meaning you will need to devote very little time and energy to marketing.

Though you will be required by the franchisor to spend some of your profits on advertising, you can rest easy knowing that your personal efforts will not be the only way people will find out about your business. In many cases, you simply pay the franchisor an advertising fee and do not undertake any marketing efforts yourself.

There’s also always a chance your franchisor will come up with a new product or viral national marketing campaign that could make your product even more popular, with no blood, sweat, or even tears required on your part.

5. Easier To Get A Loan

It is typically much easier to get a loan to buy a franchise than it is to get a loan to buy an independent business. A franchise is seen by lenders as less risky, as there is an established business model; with a franchise acquisition, there is an established revenue stream as well.

Many franchisors provide their own financing programs for franchise owners, and there are also alternative lenders who specialize in franchise financing. You might even be eligible to get a low-interest loan through the Small Business Administration if your franchise is listed in the SBA Franchise Directory.

For quick capital at somewhat higher interest rates, you will find plenty of alternative online lenders willing to help finance your franchise purchase or provide you with working capital or line of credit, should you need a loan later down the road.

Cons Of Buying A Franchise

Okay, so now that you know the upsides of buying a franchise, it’s important that you understand the pitfalls as well. Whether or not you can live with these downsides will determine whether becoming a franchise owner is right for you.

1. Fees & Expenses

Although there aren’t too many startup fees involved in a franchise resale, there are still significant fees and operating costs involved in franchise ownership overall.

It is a general rule in the franchise world that after various fees are taken out, about one-third of pre-tax profits go to the franchise. Some one-time and ongoing costs of franchise ownership include:

  • One-time franchise transfer fee (if the seller does not agree to pay it)
  • Initial training fee when you first start working for the franchise
  • Royalty fees, which allow you to use of the franchise’s logo and proprietary assets; often calculated as a percentage of gross sales, e.g., 5% of all sales, but may also be a fixed amount that is charged periodically, irrespective of sales
  • Advertising fees to support franchise-wide marketing campaigns (even if you don’t have any say over how your advertising dollars are spent)
  • Proprietary product costs—usually, you’ll have to purchase your products and/or raw materials from the franchisor or from their dedicated distributor, even though you might be able to find the materials cheaper elsewhere
  • Audit fees for periodic financial audits of your franchise
  • Renewal fee charged to renew your franchise contract once the current contract expires

All of these ongoing expenses cut into your margins, and if you’re not meeting your sales goals, it’s possible that your franchise will lose money and not be profitable, at least not right away.

Because of the various costs and fees associated with running a successful franchise, it’s important that you have some money saved or another source of income that you can live off of and use to help pay these costs until your franchise starts making decent money.

2. Competitive Threat

As a franchise owner, whenever a new location of your franchise opens in your area, you will wince and worry about how much of your business will be lost to the competing location.

Franchisors do maintain strict control over franchise territories to prevent market oversaturation, but they will err on the side of opening more locations in a territory to squeeze every last dollar out of that region, even if an individual franchise’s profit margins suffer.

Thus, every time a new franchise location opens in your territory, your market shrinks, and you have no recourse against your competitor; it’s not like you can just decide to move your franchise in a place of your choosing, or change up your product offerings, as you could with an independent business.

3. Less Control Over Business

Running a business where all procedures and policies are mapped out for you can be easier, in some ways. You don’t have to figure out how to run your business effectively because business-critical decisions have been decided for you, and are typically based on significant market research.

However, if you are a creative thinker or are used to managing a business on your own terms, franchise ownership might make you feel trapped and frustrated. Individuals who love coming up with innovative business solutions or who excel at finding more efficient ways of doing things will likely have more success as independent business owners.

4. Possibility Of Contract Terminations & Changes

One of the areas you don’t have any control over as a franchise owner is your business’s future as dictated by your franchise contract.

At the end of your contract term, the franchisor might cancel your contract if they’re not impressed with your franchise’s performance, or they could amend the contract to terms you don’t agree with. In such cases, you could be forced out of business or see reduced profits due to contract changes such as higher royalty rates, territory shrinkage, or others.

Although it is possible to negotiate the terms of any franchise agreement with the help of a franchise attorney, it is inevitably a David vs. Goliath type situation when going up against a big corporation with a lot of money and resources at their disposal.

5. Negative Press Can Hurt Sales

Yet another aspect you have little control over as a franchise owner is the company’s overall reputation. Consider how the following events could affect your business:

  • The company makes a tone-deaf advertising campaign that offends a lot of people
  • Employees at another franchise do something shocking/illegal
  • A company executive says/does something controversial or offensive

All of these are potentially newsworthy and hashtag-worthy events — you can probably think of several recent examples just off the top of your head.

Through no fault of your own, any bad press that attaches to your parent company in the public eye could hurt your franchise’s sales and even cause people to boycott your business.

Tips On Starting Your Franchise Journey

If you think you might want to buy a franchise, you can start with some simple tasks today or whenever you have some free time to do some research.

1. Be Strategic When Choosing Your Franchise Sector

Food —  particularly fast food — is typically the first thing that comes to mind when thinking about franchises, but there are plenty of franchising opportunities even if you don’t want anything to do with food service.

In addition to quick-service and full-service restaurants, other major players in the franchise industry include:

  • Gas stations & convenience stores
  • Clothing/shoe stores
  • Gyms
  • Beauty salons
  • Janitorial services
  • Hotels/motels
  • Real estate agencies
  • Car dealerships
  • Vision centers/optical goods
  • Private postal centers
  • Children’s services (e.g., daycare, preschool, kids’ sports)
  • Pet stores and services
  • Medical services

When determining which type of franchise you’d like to purchase, it’s important to consider market trends in addition to your own personal preference.

  • Which franchise sectors are growing, and why?
  • Which sectors are shrinking?
  • Which franchise brands have been doing well in recent years? Which ones are suffering?

These are just a few quick market research queries you can answer with some targeted Google searches.

2. Talk To Other Franchisees

Of course, you will want to talk to the owner of any franchise you’re considering buying and ask them why they’re selling and other pertinent questions. But it’s also important to get feedback from other franchise locations so you can get a well-rounded view of the particular perks and pitfalls of owning that type of franchise.

You can find the contact information for other franchisees in the Franchise Disclosure Document (I’ll talk more about that document in a moment) and also check message boards and blogs to find whatever “dirt” you can about the franchise. This way, you can know more about what you can expect and decide for yourself whether you’re willing to risk having a similar experience as other franchisees.

3. Determine Your Budget & Financing Options

Before you get too ahead of yourself, you need to know all the costs involved in purchasing a franchise and what you can afford.

Besides the cost of purchasing the franchise, startup fees, and working capital, you also need to factor in your personal expenses. According to the FTC’s Consumer’s Guide to Buying a Franchise (a must-read for any potential franchisee), it could take a year for your franchise to become profitable. Potentially, it could take even longer to turn a profit if the franchise was not profitable at the time of purchase. As a buffer, it’s important to have access to enough capital to ensure you will be able to survive even if your franchise doesn’t!

Once you have a rough idea of how much money you need, you can look into franchise financing options, if necessary. My posts on the best loans for franchises and how to get business acquisition loans are required reading if you’re researching loans to acquire an existing franchise.

4. What Is The USP?

When it comes to any business, the USP, or Unique Selling Proposition, is crucial in determining the business’s success. This is especially true with franchises, as the brand’s uniform nature makes it difficult to differentiate one franchise from the next. With that said, there are still important differences between different franchises within the same brand, and you need to figure out if the franchise you’re considering purchasing has something that makes it unique. Some examples include:

  • Prime Location: Is the franchise right off a popular freeway exit? How close is the nearest location of this franchise?
  • Added Features: For example, some McDonald’s restaurants have play structures and others do not.
  • Unique Building Or Business Space: A building’s age, design, and layout can all affect how attractive it is to patrons.

It may also be possible to add your own USP to a franchise. When working within the confines of a franchise contract, it can be difficult or impossible to offer something unique in terms of your products or services. However, there are still ways you can make your franchise location outshine the rest.

For example, you can keep your gym franchise much cleaner than the other gym locations in your city. Or, if you read online reviews saying that the tax preparation franchises in your town have incompetent staff, you can take efforts to make customer service shine at your tax prep franchise. You may also be able to invest in structural improvements before your grand reopening, such as improved equipment or a new franchise point of sale system.

5. The FDD & Other Pre-Sale Due Diligence

Once you determine which franchise interests you, you’ll need to do various pre-purchase due-diligence, such as reviewing financial documents, performing a business valuation, and making sure the franchisor approves of the transfer (they may not approve in some cases). Assuming you don’t have a legal background, hiring a franchise attorney can help you with most of these pre-purchase tasks.

Another important part of the pre-sale process reviewing the Franchise Disclosure Document (FDD). This document contains important information about the entire franchise brand as well as individual franchise locations and franchisees. If you find out in the FDD that the franchise you want to buy has had a lot of owners in the past few years, this may indicate that the franchise location is not profitable or that the franchisor has not provided adequate support to this location.

Final Thoughts

Buying a franchise is not right for everyone. However, it might be right for you if …

  • You want to own a business but don’t necessarily have a specific skill or vision
  • Lack of control over how to run your business doesn’t bother you
  • You have savings or additional income to live on until your franchise opens and becomes profitable (for example, retirement income)
  • You are a hard worker by nature and good at following the rules
  • The franchise you’re considering purchasing is a successful one and/or you have something unique you can add to make it successful

If you follow all of the tips I’ve laid out in this post, you will be well on your way to becoming a successful franchisee.

Quickly compare franchise loan options:
Lender Borrowing Amount APR Req. Time in Business Min. Credit Score Next Steps

$2K – $5M

Varies

6 months

550

Apply Now

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$30K – $350K

6.36% – 9.57%

2 years

650

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applepie capital logo

$100,000+

Approx. 9% – 16%

N/A

N/A

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$25K – $500K

7.4% – 36%

2 years

620

Compare

For more information on lenders that will help finance your franchise purchase, contact us and we’ll be happy to suggest a suitable lending service to help you get that franchise loan.

The post Should I Buy A Franchise & How Do I Start? appeared first on Merchant Maverick.

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The Best Credit Card Machines And Terminals

When you scan or insert your debit or credit card at the mall or your local convenience store, you probably don’t put a lot of thought into what type of machine is reading and processing your payment. And really, why should you? To consumers, they’re all pretty much the same (except for maybe those machines that angrily beep at you to remove your card. Why is that sound so aggressive?) That said, if you’re a retailer and you’re not paying attention to what type of credit card machine you’re using, it could cost you. An unreliable or even just a slow machine can impact your bottom line. It’s imperative to know what you want and need from a credit card machine when you’re purchasing your hardware.

Let’s start out by defining some terms. This post will specifically talk about credit card machines and terminals as opposed to credit card readers. A credit card machine is a device that connects directly to or is integrated with your point of sale system, whereas a reader is a smaller, mobile device that generally connects to phones and tablets and can be used with an app.

While many terminals look similar (big buttons, a place to slide or insert your card etc…) there are a number of other features you should be looking for when you make your purchase.

Credit Card Machine Features

First off, you’ll need to make sure your machine is compatible with your processor. Some companies sell hardware that can only be used with their own processing plans. However, there are many universal options available that will sync up with any processor and will give you more flexibility. Some credit card processors will charge reprogramming fees for hardware not purchased directly, so keep this in mind. 

Your level of connectivity is also crucial as any downtime or lag that impedes your ability to process payments is going to have a significantly negative impact on your business. Most newer machines have both a phone and an internet connection and many are now equipped with wireless capabilities in case your landline connection fails or you are in a place where only WiFi is available.

You’ll also want to assess the type of payments you’ll be accepting. In this day and age, you will almost certainly need to process debit card payments, in which case you’ll want a PIN pad (either separately or built-in) for customers to type in their number. Depending on your industry, you may also need a device that handles EBT (electronic benefits transfer). If you’re accepting checks, you’ll want a device that can process them electronically — the same goes for gift cards if that’s an option your business offers. A more modern way to accept payment, like a tap terminal that allows customers to pay via their phone with a service like Google Pay, may also be advisable.

If you’re buying a new machine or terminal, you’ll almost certainly want to make sure that your system can accept EMV chip cards. These cards are becoming the standard in the industry (as of 2015) for their superior level of security; any quality processing machine should be compliant at this point.

What Do Credit Card Terminals Cost?

Now let’s get into what everyone is really interested in: the cost. Credit card machines are generally a bit more expensive than your standard credit card readers which simply hook up to a phone or mobile device. But, with that added expense, you’re also getting added security. To put it in broad terms, machines can run from anywhere between $50 for a bare bones terminal that simply takes card payments, to upwards of $500 depending on what features you want or need.

Each added feature will typically send the price a little higher. If you want to be capable of accepting mobile payments, like Apple Pay or Google Pay, expect a slightly higher cost. If you need a built-in printer for receipts, expect to pay a little more. If wireless capability is a must, that will also result in a slightly higher cost alongside the expense of a data plan. However, many companies offer payment plans and, depending on what services you’re signing up for, some companies run promotions where you can get hardware thrown in for free or at a discount.

Credit Card Hardware Options

When you’re shopping around for a credit card machine, you won’t be hurting for options. However, there are a handful of companies that you will want to check out.

Ingenico and Verifone have long been the gold standard in the credit card terminal industry, and for good reason. They both offer a wide variety of products that are reliable, durable, and competitively priced.

  • Ingenico: Chances are good you’ve used multiple Ingenico products, perhaps in just the past week. It’s difficult to recommend a specific item as they range from very basic readers with built-in PIN pads to others that accept virtually all forms of payment and can print directly all from a device small enough to fit in your hand. Ingenico’s products thrive on their user-friendliness, from set-up to the customer experience, and they have a highly-rated customer service department. Ingenico is also an international company with products that can function all over the world.
  • Verifone: Verifone is equally user-friendly and has an exceptionally sleek and modern interface in many of its credit card machines. Like Ingenico, they offer a wide range of products from a fully integrated POS to mobile and desktop devices. Verifone prides itself on the speed of its transactions and its versatility. The VX520 has been one of its most popular models and should be able to handle most small business needs for under $300. Verifone packs a lot into its devices and they are highly durable and built to handle large numbers of transactions.
  • Pax: Another company to keep an eye on in the credit card terminal game is Pax. While not as ubiquitous as Ingenico or Verifone, Pax is a cost-effective solution with many of the same features. Pax’s products are brightly colored and aesthetically pleasing. The S80 CounterTop terminal has an inbuilt contactless processor and can handle multiple payment types. Pax’s products offer speed and strong memory capabilities while featuring state of the art security measures. They also offer a wide variety of PIN pad options.

A current trend in the world of processing is fully integrated systems. These systems are ultra-modern with the ability to accept nearly any form of payment. They can connect to existing hardware but they’re also on the more costly side.

  • Poynt: Poynt has become a major player in the past few years. It currently offers a two-screen desktop system and a mobile device that allows customers to make payments from anywhere in your store. Poynt accepts gift cards, EBT, and mobile payments — among others — and has features like signature encryption, EMV, and a receipt printer built in. The system is incredibly simple to use and lets the customer see exactly what is happening with his or her transaction.
  • Clover: A similar product to Poynt is Clover Station, which also features a dual screen model. Clover has been extremely popular since its release. With Clover, you are locked into First Data processing, a fact that is still holding Clover’s devices back in our ratings here at Merchant Maverick. However, there’s still a lot to like with this hardware. The ability to customize your experience with Clover is a huge benefit and Station comes with 20 preloaded apps. There is also fingerprint log-in for employees to increase security. Clover accepts EMV cards and comes with an optional NFC printer, 4 GBs of memory, and access to the Clover app store.
  • Square: One of the newest integrated processing products on the market is Square Register. Square’s reputation and popularity speaks for itself and this rollout doesn’t disappoint. With the same dual-screen format as Poynt and Clover, customers can make payments seamlessly with a recognizable and simple interface. Square offers a simple and consistent plan for processing fees and pairs with existing hardware in seconds. You can literally be up and running in a matter of minutes once you’re registered with Square and it comes with a two-year limited warranty.

It’s likely that you’ll find multiple credit card machines that can offer you the functions and features you’ll need to successfully run your business. That’s why it’s important to go with a trusted company and a product that’s proven to be reliable. Having a credit card machine that processes payments quickly and runs smoothly is one less thing a busy merchant needs to worry about.

Final Thoughts

Make sure that you’re always staying on top of current payment trends. Hardware companies constantly update to make sure that their clients always have access to the latest technology. New ways to give and accept payment are constantly hitting the marketplace, and whether it’s a new app for making payments or the ability to accept crypto-currency, credit card terminals are adapting quickly and many low-cost credit card readers are now on the market as well. Hopefully, this post has made your credit card processing hardware search just a little easier. 

Want more information? Read our Complete Guide To Credit Card Machines and Terminals.

The post The Best Credit Card Machines And Terminals appeared first on Merchant Maverick.

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15 Best Touchscreen POS Systems

touchscreen cash register

Touchscreens are everywhere, and the point-of-sale industry is no exception. Touchscreen POS systems are more intuitive and easy to learn than traditional legacy POS software, and many cloud-based systems employ the same kind of iPad and Android tablets that your employees already use every day at home. Whether you’re running a restaurant, a retail outlet, or another type of business, a modern touchscreen POS system helps keep your sales moving and your business data secure. Besides simple point-of-sale features, most of these cloud-based systems also have advanced reporting capabilities, business management features, and integrations with other popular business software.

Arguably, the only problem with touchscreen point of sale systems is that there are so many different products to choose from. Do you go with a proprietary-hardware solution like Clover, an Android POS system like Toast, an iPad POS like Revel, or an open-source POS like Vend? In my opinion, the most important consideration when choosing a touchscreen POS is not just iPad vs. Android. More important are your industry type, your specific business needs, and user reviews. To help you get started in your search, I’ve put together this list of my favorite highly rated touchscreen POS systems, sorted by industry. Most of these are iPad-based, though I included some Android and open-source options as well.

To make it easier to find the best touchscreen system for your business type, I’ve sorted the following 15 POS systems into restaurant, retail, and hybrid (systems that can be used for either restaurant or retail) categories. Be advised that the order in which I’m listing these excellent systems does not indicate their ranking.

Restaurant POS Systems

The following restaurant point of sale systems can be used by just about any type of food industry business, from drive-thrus to fine dining:

1. Breadcrumb

  • iPad POS for restaurants
  • Pricing starts $99/month/location
  • Must use with Upserve payments (interchange plus $0.15 fee)
  • Multi-location support
  • Online ordering

breadcrumb by upserve pos logo

Cloud-based Breadcrumb POS by Upserve (see our review) is a highly versatile restaurant POS, suitable for full-service restaurants, take-out, delivery, bars, and multi-location eateries. With Breadcrumb’s acquisition by Upserve in 2016 (Breadcrumb was previously owned by GroupOn), the company has expanded its restaurant management infrastructure, making this POS a complete business management system for just about any type of restaurant.

Breadcrumb is not the cheapest restaurant POS in town, but nor is it short on features. Some of the system’s strongest features include table management, employee management, customer management, and tableside ordering. Breadcrumb also recently teamed up with GrubHub to offer online ordering and delivery (at the $249/month/location “Pro” subscription level).

One thing Breadcrumb users really like about this system is that it is specifically designed with restaurant employees in mind. While we find Breadcrumb to be a very solid all-around POS/restaurant management system, a couple potential downsides are 1) you can’t use your own merchant account (you need to use Upserve Payments) and 2) there are occasional issues with outages. Learn more in our Breadcrumb by Upserve review.

2. Toast

  • Android POS for restaurants
  • Pricing starts at $79/month
  • Must use with Toast credit card processing
  • Multi-location support
  • Exceptional customer service

toast pos logo

Android-based Toast POS (see our review) is another robust, cloud-based POS system for restaurants. It can accommodate any size or type of restaurant, and features like tableside ordering, labor management, and inventory management make Toast a force to be reckoned with on both the front and back end. Toast is intuitive and easy to use for servers, while also providing detailed reporting, customer data, and menu options.

Although we love Toast’s strong feature set and the fact that it uses Android tablets instead of iPads (cheaper hardware costs, less of a theft risk), keep in mind that if you want every single feature Toast offers, it’s gonna cost ya. For example, online ordering, table management, delivery management, and gift card support all carry an extra monthly charge. You also can’t choose your own credit card processor to use with this POS and must use Toast’s in-house processor (which Toast users seem to like, at least). What really sets Toast apart from a lot of other cloud-based POS systems, however, is their excellent customer support – an indispensable quality in any POS, given the inherent complexity of a system that lets you take payments, process orders, and manage almost all aspects of your business.

3. TouchBistro

  • iPad POS for restaurants
  • Pricing starts at $69/month
  • Compatible with multiple payment gateways
  • Best for single-location businesses
  • Locally installed system (not cloud-based)

touchbistro POS

Elegant and easy to use, Ontario-based TouchBistro (see our review) has the distinction of being the top-grossing POS Application on Apple’s App Store in over 35 countries. TouchBistro is one of the few systems on our list that, while tablet-based, is not cloud-based; rather, your store data is stored locally on your restaurant’s iPad or Mac.

TouchBistro is not a full “restaurant management system” like Toast or Breadcrumb, but it’s good at what it does, and can readily handle the POS needs of just about any size/type of eatery, from a food truck to a full-service restaurant. Since TouchBistro stores data on local servers, it’s probably best for single-location restaurants (if coordinating data between locations is important to you). Keep in mind, though, that you will need an internet connection to process credit cards.

Some great features of TouchBistro include table management, menu management, kiosk option, tableside ordering, split-payment option, bar tabs, and sales reports. Customer service doesn’t seem to be as responsive as some users would like, though 24/7 support via phone and email is included in the standard cost. TouchBistro is compatible with Mercury, Cayan, Moneris, PayPal and several other gateways.

4. Lavu

  • iPad POS for restaurants
  • Pricing starts at $69/month with annual contract or $79/month without
  • Can use in-house payment processing or BridgePay, Heartland, PayPal, Nets, or Vantiv Integrated Payments
  • Multi-location support
  • Option to install in-house server backup in case you lose your wireless connection

lavu pos logo

Lavu (see our review) is yet another highly popular iPad POS system for restaurants, used in more than 20,000 restaurant terminals across 88 countries.

Lavu is not the most advanced restaurant POS there is, but it is equipped to handle the needs of most small-to-medium restaurants (or cafes, bars, coffee stands, etc.). Some features that make this POS system a hit include its customizable table layout and menus, easy employee management, advanced menu management, and useful integrations. Lavu also has renowned customer service, which is included in the standard monthly fee. You can add both a loyalty program and gift cards onto your subscription for just $40 a month.

Customers have complained about occasional glitches with the Lavu software, but the company releases frequent updates to solve any bugs or complaints. Affordable and highly customizable, Lavu is a strong and growing contender in tablet POS systems for restaurants.

Retail POS Systems

The following POS systems are suitable for retail store establishments, such as clothing boutiques, toy stores, electronics shops, and many others.

5. Lightspeed Retail

  • iPad and web browser POS for retail
  • Pricing starts at $99/month (billed annually)
  • Integrates with Vantiv Integrated Payments (Mercury), Cayan, and izettle
  • Multi-location support
  • Bike rental store add-on

lightspeed retail pos logo

Lightspeed Retail (see our review) is one of the most fully featured tablet POS systems out there for retail. While Lightspeed can support up to enterprise-level size businesses, this cloud-based system is ideal for small and medium-sized businesses that want powerful functionality — think unlimited inventory, integrated eCommerce, work order management, and customer relationship management. Lightspeed Retail also makes it easy to transfer inventory between different store locations.

Lightspeed is among the pricier systems on this list, and various integrations to extend its functionality, such as eCommerce, can make it even more expensive. So, it’s not going to be the right POS every business. But if you want a super robust POS that you can operate from any desktop browser (meaning, you don’t have to buy expensive iPad registers), Lightspeed Retail might just be right for you. The POS is especially suited for apparel businesses but can accommodate virtually any type of retail setup, including rentals.

Note that there are several Lightspeed products in addition to Lightspeed Retail. These include Lightspeed Onsite, Lightspeed Restaurant, and Lightspeed eCommerce.

6. Vend

  • iPad and web browser POS for retail
  • Pricing starts at $69/month
  • Compatible with Vantiv, PayPal, and Square
  • Multi-store support
  • Apple Pay-capable

vend pos logo

Vend (see our review) was actually the very first web browser-based POS system when it was introduced back in 2010. Today, it is still a big force to be reckoned with in the retail POS world, used by more than 20,000 businesses in 100 countries.

Cloud-based and scaleable for retail stores both small and large, Vend uses an HTML5 browser (such as Google Chrome), or an HTML5 iPad app, for all operations. If the internet goes down, Vend can keep operating locally using the cache and will sync back up with the cloud once the connection resumes. Being browser-based means you can run Vend on a PC, Mac, or iPad. Some features on Vend we really like include customer management, eCommerce, built-in loyalty program, inventory management, and a good selection of third-party software integrations. Vend doesn’t have as much functionality as a POS like Lightspeed or Revel – for example, Vend doesn’t have item modifiers – but it is cost-effective and a good choice for a store (or even chain of stores) that doesn’t need every single “business management” feature out there.

Note that Vend’s email support is free, but 24/7 phone support costs an extra $19 per month, unless you have the multi outlet subscription ($199/month billed annually).

7. Shopify POS

  • iPad POS system for retail (Also supports mobile sales on iPhone and Android phones)
  • Pricing starts at $9/month for mobile and Facebook sales, or $54/month to also include Retail Package for in-store sales
  • Integrates with Shopify Payments and many outside processors
  • Multi-store support
  • Instant syncing with your Shopify online store

shopify pos logo

Shopify (see our review) started as an online shopping cart for businesses who wanted an easy way to sell their products online. Eventually, Shopify extended their offering to include a POS system for in-person sales. As you might expect, Shopify POS does a great job integrating online and offline sales for retail businesses that also do eCommerce with Shopify.

Shopify’s pricing structure is a little convoluted, but the most important thing to know is that if you have a brick-and-mortar store, you’ll need to purchase the Retail Package, which costs $45/month on top of whatever other package you select — the $9/month Shopify Lite plan, the $29/month Shopify Basic plan, or another higher-tier plan. The Basic plan plus the Retail Package will cost $74/month and provide pretty much everything most retailers need for both online and in-store sales. You also have the option to get better credit card processing rates at higher price tiers.

Most Shopify POS features are comparable with other top iPad retail solutions, and they have strong customer service too. The thing that really sets Shopify apart is their seamless online/offline sales integration. So, if you already use Shopify for online sales or would like to, this might be the right POS for you.

8. Quetzal

  • iPad POS for independent fashion retailers
  • Pricing starts at $75/month per location
  • Integrates with Evo Payments International, Velocity, CardSmith, National Discount Merchant Services, Vantiv, and Moneris
  • Multi-store support (max. 10 locations)
  • Clothing/shoe matrix

With its exclusive focus on fashion retailers, Quetzal (see our review) is an iPad POS that’s tailor-made (ha-ha) for stores that sell clothing, shoes, and/or accessories. This aesthetically appealing system has a streamlined iOS aesthetic; the interface seriously looks like it could have been designed by Apple itself, and Quetzal even has an iTunes app that lets managers check in on their store from their Apple Watch. Quetzal also uses a compact, sleek register, Star Micronics’ mPOP system.

Of course, functionality is more important than aesthetics when it comes to a POS, but Quetzal doesn’t come up short in terms of function either. We like the clothing/shoe matrix, in-depth sales reports, “tag cloud,” loyalty program, employee leaderboard, and “sales thermometer,” in particular. At only $75/location price is right as well, especially as there is no charge for additional users or terminals. A couple downsides are that after setup and installation, customer support costs extra, and also there is no QuickBooks integration.

While it doesn’t have a huge marketshare of the overall retail POS segment, Quetzal’s niche focus makes it a functional, affordable, and visually appealing choice for emerging independent clothing brands.

Hybrid POS Systems

These POS systems are flexible in that they are equally suited to retail and restaurant environments. Service-based industries such as beauty salons, rental businesses, and hospitality businesses also often use hybrid POS systems.

9. Shopkeep

  • iPad POS for retail and quick serve restaurants
  • $69/month/register ($29/month/register for fourth register and beyond)
  • Integrates with Shopkeep Payments and outside processors
  • Multi-store support
  • Matrix inventory feature

shopkeep pos logo

Shopkeep (see our review) is an affordable and enjoyable-to-use POS system that runs locally from an iPad and syncs data back to the cloud. Shopkeep is used in both retail and restaurant environments, and while it’s more feature-rich on the retail side of things, it will more than meet the needs of most quick-service/coffee carts/food truck businesses.

Some things about Shopkeep we especially like include its comprehensive register functionality, in-depth reporting suite, mobile app to view your business stats on the go, and unlimited inventory matrix (which includes raw goods management). Shopkeep also offers unlimited 24/7 customer support (though premium phone costs an additional $30 per month). This POS integrates with MailChimp for email marketing, QuickBooks for accounting, and BigCommerce for eCommerce.

Shopkeep is a wise choice for a small-to-medium retail business or restaurant that doesn’t need extensive restaurant-centric features like table management. Note that ShopKeep is currently only available on iPad but is in the works to make its service available on the Clover Station via a recent partnership with First Data.

10. Revel Systems

  • iPad POS for retail, restaurants, hospitality, and more
  • Supports numerous payment processors
  • Custom pricing based on industry and individual business needs
  • Multi-store support
  • Ethernet internet connection

revel systems logo

Revel Systems (see our review) is arguably the holy grail of iPad POS systems. Revel is powerful enough that franchises like Cinnabon use it, and flexible enough that it can support businesses in virtually any industry, from brewpubs to gas stations. It’s also the only iPad POS system that offers a “wired” ethernet connection for a faster an more reliable internet.

Revel POS pricing is determined by which industry-specific package you choose, but depending on your needs, you can expect to pay about $80 to $200/month per location. Myriad add-on applications and integrations extend Revel’s functionality to make it do just about anything you can imagine, though this naturally increases the system’s cost as well. Some of Revel’s more impressive features include its kiosk mode, digital menu board, and ability to accept mobile payments (including ApplePay, PayPal, Bitcoin, and others). Because Revel is so powerful and customizable, initial system setup can take a while.

Revel can manage multiple locations and up to 500,000 SKUs. It is optimized for mid-sized businesses, particularly busy quick-serve restaurants that can afford one of the best iPad POS’s money can buy.

11. ERPLY

  • Web browser/iPad/Android/Windows POS for retail and restaurants
  • Pricing starts at $200/month/location
  • Compatible with all big-name payment processors, (though currently promoting PayPal as a preferred processor)
  • Multi-store support
  • Strong inventory features

erply-logo

ERPLY (see our review) originated in 2009 as a retail POS system, though it has eventually expanded support to food service too, now offering food-centric features such as kitchen printing and sell by weight. Whether you run a retail business or restaurant, ERPLY is especially powerful in the inventory management department, with functions like automated ordering, supplier management, and multichannel (online, in-store, phone, email) inventory tracking and transfers.

ERPLY gives you a lot of flexibility as a business owner. Using just about any payment processor under the sun, you can accept traditional swipe, chip card, and mobile payments, including Apple Pay, PayPal, and Android Pay. You also have the option to use pretty much whatever device you want, even without a reliable internet connection, or run ERPLY right from your browser.

It’s actually kind of hard to come up with a feature ERPLY doesn’t have. An open API architecture allows customizability and the ability to develop your own software integrations and customize it to meet your needs (or, have ERPLY make these integrations/customizations for you). Being such a versatile piece of software, it’s one of the pricier cloud-based POS systems. If you have a larger or franchise business, or you just want the flexibility and horsepower this system offers, you might try ERPLY out for size.

12. talech

  • iPad POS for retail and restaurants
  • Standard subscription is $62/month/location (billed annually upfront)
  • Compatible with multiple payment processors
  • Multi-store support
  • Kiosk mode

talech POS logo

talech (see our review) is a smaller player in the iPad POS world, but with their affordable price point and impressive set of more than 100 features, they can certainly give their larger competitors a run for their money. talech is used by both retail and restaurant businesses, but restaurants, in particular, will find a lot of useful features, including table management, coursing, and the ability to split the check by table positioning (seat).

Advanced inventory management, self-service (kiosk) mode, and the ability to generate purchase orders are some more features that set talech apart from some of its competitors in both the retail and restaurant spheres. talech also made it possible for restaurant owners to integrate an online ordering system so that you can manage in-person and online orders all from your iPad POS terminal.

One caveat: being 100% cloud-based, talech is unable to take credit card payments in the event of a WiFi outage, and you also won’t be able to access your back office. However, it’s possible to circumvent such issues by getting a specialized backup router.

13. Bindo

  • iPad POS for retail and restaurants
  • Custom pricing depends on industry and number of SKUs
  • Works with nearly any payment processor
  • Multi-location support
  • “Favorites” grid displays most popular items as register buttons

Bindo POS logo

Bindo (see our review) is a hybrid POS whose varied and easy-to-use features make it suitable for retail or restaurant environments. A reasonable pricetag, clean interface, robust eCommerce storefront, and thoughtful inventory reporting suite make this an especially versatile touchscreen POS option. While fewer than 5,000 businesses use new-ish POS, customer support (included at all price levels) is responsive to these customers’ needs and tech support (also included) issues frequent updates to fix any software glitches.

As with most other fully cloud-based systems, you’ll need fast internet to experience the best functionality. More than one customer has also complained about being stuck in a leasing contract with Bindo for equipment they were not satisfied with (though in general, we do not recommend leasing POS equipment). Since Bindo works with most standard iPad POS equipment and offers a 14-day free trial, it is likely that you’ll be able to test out Bindo using your current equipment before you commit to purchasing.

14. SalesVu

  • iPad POS for restaurant and retail
  • Basic restaurant and retail packages start at $75/month
  • Works with Vantiv, Evo, and WorldPay
  • Multi-location support
  • Allows items to be charged by decimal and fractional quantities

SalesVu (see our review) is another affordable and feature-rich iPad POS system that can be used in many industries, including service industries and traditional retail and restaurant environments. Since this system allows you to ring up transactions in fractional amounts, it’s especially useful for hourly professionals such as therapists or dog walkers, and businesses that sell items based on weight, like fro-yo shops. SalesVu also has an appointment booking system that health, beauty, and hospitality businesses will appreciate. Like the majority of touchscreen POS’s on this list, SalesVu is best suited for smaller to medium-sized businesses, though it has the capacity to scale up if you open a second or third location.

SalesVu runs locally on iPad registers and syncs all your data to your account in the cloud. Though you can use the SalesVu POS app without an internet connection, you’ll need internet to process credit card transactions; however, you can use a specialized router with a 4G wireless modem with a data plan so that you can switch to 4G without any interruption if your main internet connection goes down.

Another cool thing about SalesVu is that it will run on an iPhone, allowing you to take mobile sales on the go. The basic mobile POS app without any frills is free, similar to Square. Which brings us to the final favorite touchscreen POS on our list …

15. Square Register

  • Proprietary POS hardware with free cloud software for retail, restaurants, service industry
  • Hardware costs $49/month for 24 months or $999 one-time payment
  • In-house credit card processing is 2.5% + $0.10/transaction or lower for high-volume businesses
  • Multi-location support
  • Best for businesses with average transaction of $40 or higher
  • Ethernet support for more reliable internet connection

While Square‘s popular free POS mobile app has been around for some time, the Square Register is a relatively new product, released in October 2017. There are still no monthly service fees, but rather than selling on your smartphone or iPad, you’re ringing up sales on fully featured POS hardware that you purchase as a complete package from Square. With a concept similar to that of Clover Station (which I didn’t include on this list because it is locked into First Data’s less than stellar payment processing), the Square Register is sleek, proprietary POS hardware that works right out of the box, complete with a customer facing screen and built-in credit card terminal. The Square Register hardware itself costs $49/month for 24 months, or you can simply purchase the system outright for $999.

Note that Square Register users have a different credit card processing rate than the standard Square mobile processing rate. With Square Register, businesses are charged 2.5% + $0.10 on every transaction, vs. 2.75% (+ $0.00) with regular Square. This pricing setup may at first blush look like Square Register has cheaper rates, but if you have a lot of small transactions you’ll actually pay more with Square Register than with the Square mobile POS. For this reason, Square Register is a more appropriate solution for larger businesses with average ticket sizes of $40 or higher. Larger businesses processing more than $250,000 per year and with an average ticket size of $15 or higher may also qualify for lower rates.

As for the specific business type, 100% cloud-based Square can work with just about any industry. Square has a built-in 24/7 online booking system for service-based industries, as well as restaurant-centric features such as suggested tipping amounts and online food orders.

Finally, Square Register is not to be confused with Square’s iPad-only, $60/month solution, Square for Retail (see our review).

Final Thoughts

When sorting through your options for touchscreen POS systems, the plethora of choices may at first seem overwhelming. But that’s why we’re here to help you sort out the stinkers and lead you to the very best tablet point of sale systems. And really, you can’t go wrong with any of the POS software systems on this list. Just check that the touchscreen POS system you’re considering meets your business’s needs in terms of functionality and budget, and test it out with a free trial before purchasing. And of course, don’t forget to check user reviews and complaints on the BBB and other consumer review sites. If you need further help choosing a touchscreen POS system, please contact me in the comments section and I’ll give you some further guidance.

The post 15 Best Touchscreen POS Systems appeared first on Merchant Maverick.

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Complete Guide To Credit Card Machines And Terminals

We don’t typically think about what happens in the moments after we swipe our debit and/or credit cards. More often than not, we simply run or insert our card into the credit card machine and hope that the cashier doesn’t use the next few moments to initiate small talk. The number in our checking account decreases or the number on our credit card bill increases, and that’s all we care about.

But, to the business owner, credit card processing is exceptionally important and it can play a huge role in your bottom line. There’s a lot of information to take in if you’re a novice when it comes to credit card processing, and you’ll need to decide what elements are most important to your business. Do you need mobility when accepting payments? Will you be accepting transactions online or over the phone? What security measures should you be taking to protect both your business and your customers? What companies are highly rated or come heavily recommended?

We’ll try and answer the bulk of your questions about credit card machines and terminals below.

Credit Card Machines

Credit card technology has evolved rapidly over the years. It doesn’t seem like that long ago when the process involved a terminal with just the option for credit. Then came debit cards. As the internet became the world’s go to for conducting business, the processing game had to change as well. Now, merchants can take payments with readers connected to their phones or tablets — they can even accept payments remotely without the physical card present. This has created a need for increased security which has led to encryption technology and the relatively recent advent of the EMV chip card.

Before we get into that, however, let’s start with some basics about credit card transactions. You have, no doubt, used hundreds of different types of card readers throughout your illustrious tenure as a consumer. But what happens once your card’s magnetic strip has been read? In simple terms, there are three phases involved in actual processing:

  • Authorization: Once your card is scanned, its information is sent over with a request to be processed. The processing request is then sent to the company of the cardholder (VISA, Mastercard etc…). The company sends the request on to the issuing bank. If there are enough funds in the account, and if the card is registered as valid, the purchase is approved. All of this takes place in a matter of seconds, generally speaking.
  • Settling: After a transaction has been approved, it is forwarded on to be cleared via an interchange. When the request is received, a credit is given to the merchant for the amount of the sale. The bank will then issue a statement to the customer in that amount which the customer must then pay off.
  • Funding: So far in the transaction, no actual money has changed hands. After the card has been authorized and the credit is issued, the payment company then makes a deposit into the merchant’s checking account. These funds can generally be accessed in just a few days.

In order to accept these forms of payment, you will need some type of card reader. Your options here have also evolved rapidly in the past couple of decades. The most common type of credit card machine is still the stationary card terminal. This is a machine that needs a physical connection either to a phone line or to the internet in order to process physical cards.

The next type of machine, and one that is rapidly gaining in popularity, is the wireless processor. These often look very similar to a stationary device, using a magnetic strip or chip reader to take a customer’s card information. However, these devices only require a wireless connection, making them far more versatile and mobile for merchants (albeit with slightly higher security concerns).

Finally, you can also accept payments via a virtual terminal, something we’ll get into more thoroughly a little bit later. In short, virtual terminals allow you to take a customer’s card information without that card being physically present.

Of course, within these different machines, you’ll have some other hardware choices to make. One item you may want to look into is a PIN pad. With this device, customers can manually type in their debit card password to process a payment. Debit cards with either a VISA or Mastercard logo can be processed almost identically to credit cards. However, with a PIN pad, a transaction that is specifically run as debit usually costs the merchant a smaller fee. This ends up saving you a lot of money in the long run, particularly on large transactions.

Some point of sale systems have this technology built-in, allowing customers to enter their PIN numbers on a touchscreen. PIN pads encrypt a customer’s information, giving an inherent level of security on those transactions. As previously mentioned, you don’t need a PIN pad to run these types of transactions. A signature debit card is processed just like a credit card, but the money comes directly from a customer’s checking account. However, in most instances, the merchant is still charged the same rate as if the transaction was run as credit.

One of the more recent changes in the world of credit card processing has been the introduction of the chip card. EMV (which stands for Europay, Mastercard, VISA) is a method of payment based on a standard for cards and machines that is meant to dramatically reduce the possibility for fraud when it comes to credit card payments. EMV cards store data in a chip within the card that is scanned when it is “dipped” or inserted into a card reader or payment machine. Companies have been steadily trying to meet EMV standards and the majority of processors and point of sale companies are now EMV compliant or claim to be in the process of becoming compliant in the near future. VISA and Mastercard have also issued standards for card-not-present transactions as a way to increase security measures in the world of eCommerce.

It’s difficult to predict what the future will look like when it comes to payment processing, but one trend that seems like a near sure bet is that consumers will continue to seek out convenience. This means that services like Apple and Android Pay will probably continue to spike in popularity. Given society’s increased dependence on iPhones for everything from communication to driving directions, the ability to pay with one’s phone is something all companies will want to make sure they can handle — sooner rather than later.

Looking for a credit card machine for your business? Buy, don’t lease! 

Virtual Terminals

What is a virtual terminal? Let’s delve in deeper to get a sense of whether or not it’s a solution your business needs. Virtual terminals are online applications that allow customers to input credit card information directly online to then be processed electronically. These terminals allow for transactions to be processed even when a credit card is not physically present. This can be an ideal solution for any business that is highly mobile or conducting transactions remotely with clients.

Many companies, including PayPal and Helcim, offer the ability to use a virtual terminal for payments. The implementation process is exceedingly simple. Generally, for a small, monthly fee, your processor can give you the ability to enter payment information from pretty much anywhere with an internet connection. Most companies will offer a percentage rate and a flat fee for virtual terminal transactions. This fee is often slightly higher than it would be for a typical transaction as card-not-present transactions have a slightly higher risk of fraud.

With PayPal, for example, all you need is a phone, tablet or computer and you can quickly log in to your account and go to the virtual terminal setting. This leads you to a screen similar to one you would see if you were entering your own information online for a purchase. Once the information is entered, you’ll receive confirmation. 

This simplicity and flexibility has made the virtual terminal an increasingly popular way for businesses of all types — not just mail order or eCommerce businesses — to accept payments. An increasing number of companies are now also offering USB card readers that connect directly to your terminal. These automatically take the card information and run it through your virtual terminal, keeping your transactions in the same location but charging you a lower rate since the card is present at the time. Some of these same companies offer pads which can collect customer signatures in the same way. Even with an external card reader, virtual terminals are usually not designed to accept advanced payment types, like contactless payments, from mobile wallets such as ApplePay. If you want to accept contactless payments, you’re better off getting a standard NFC-enabled credit card machine or credit card reader.

Virtual terminals can also take automated clearinghouse (ACH) payments for one-time or recurring transactions. These payments are processed in bunches, meaning the payment is usually received a little later. However, you aren’t subject to interchange fees for these payments.

Obviously, when making or accepting payments where credit card information is simply entered online, security is going to be of the utmost importance. It is highly recommended that you choose a payment provider that encrypts credit card data; this both reduces the risk of theft and the scope of the Payment Card Industry (PCI) compliance.

From there, you will generally have two options.

You can choose a non-validated solution which can cut down the risk of having data stolen. This is an affordable option that is offered by most processing companies, though these solutions are not defined as secure by the PCI. In other words, there is an increased chance that hackers could gain access to encryption keys which could eventually lead to a data breach.

The other option is a PCI point-to-point (P2PE) provider which meets all of the PCI standards and includes secure hardware. Processors that provide this level of protection must accept Merchant P2PE Implementation Responsibilities. Because of this added security, a much smaller number of processors offer this service (although that list is growing). If you are set on providing increased security, you will need to make sure you have hardware that meets these standards — you will also have to submit to regular security check-ups.

Merchant Services

When we talk about merchant services, what exactly do we mean? In simple terms, ‘merchant services’ is a broad term to describe the hardware and software products that make it possible to accept credit and debit card transactions. These companies and services help to connect the issuing bank (the bank that gave your customers their credit cards) and the merchant bank (the bank that is behind your merchant account). In the last couple of decades, this term has expanded to include much more than just your standard terminal scanner. The internet has opened the door for payments to be made online and those purchases can be tracked and managed from your computer or mobile device.

Merchant services providers are any businesses which accept payments (aside from just cash and checks). These can include credit and debit card processors, point of sale terminals, analytic software etc. There are a handful of different kinds of merchant services providers, including:

  • Merchant Account Providers: These providers can set you up with a merchant account and services that allow you to collect your money following a debit or credit card transaction. Some larger companies also come with direct processing services.
  • Payment Service Providers: Even though it’s advisable, it’s not essential to have a merchant account to process payments. Payment service providers, like the ubiquitous PayPal, don’t give you an ID number and are popular because they generally do not come with account fees or long-term contracts. These accounts can be frozen, sometimes without notice, and customer service can be sketchy. However, for smaller or seasonal businesses, payment service providers are a popular choice.
  • Payment Gateway Providers: Payment gateway providers represent a service provider that has emerged with increased popularity of eCommerce. These providers may or may not come with a merchant account. Some give you a choice of using their own merchant account or using a gateway with an existing account. Others only offer a gateway service, meaning you’ll have to have a merchant account from a third party.

When you’re looking at various card processors, there are a few things that you should keep an eye on. Perhaps most importantly you’ll want to research the company’s reputation. Processing payments is a crucial aspect of your business and an unreliable company can give you a lot of headaches (and affect your bottom line).

You’ll also want to compare the costs and potential fees that various processors implement. Square, for example, charges no monthly fee, which is yet another appeal for smaller or mid-sized companies. However, they also implement a 2.75% fee on transactions — if your business takes off and you’re suddenly processing a high number of transactions, those fees will add up and quickly wipe out any savings you’re receiving from not paying a monthly fee.

You’ll also want to doublecheck the compatibility of your processor. If, for instance, you’ve found a point of sale system that you are comfortable with, you’ll want to make sure that the processor integrates seamlessly without additional costs. If you’re forced to set up an aforementioned gateway, you could end up paying a large monthly fee.

To enable transactions, merchants will have to fill out an application. If you’re opening a merchant account, this process can take a little longer than going through a third-party processor. One of the reasons smaller and mid-sized merchants lean towards a third-processing account like Square is that you can be up and ready to take payments almost immediately. The price for that instant gratification, however, is an increased likelihood for potential account freezes later on.

When you’re in the process of picking out a processor, you’ll also want to pay close attention to transaction fees. The best merchant account providers usually offer what is referred to as interchange-plus pricing. This means that the provider takes the wholesale cost of the transaction and tacks on a small, standardized markup. This ensures an affordable and transparent pricing plan. It also means a slightly higher rate for transactions when a card isn’t physically present since those transactions have a higher frequency of fraud. Third-party processors sometimes provide a flat rate for all transactions — this is convenient and offers a simple way to quickly figure out your fees. However, it may not be the most cost-efficient in the grand scheme of things. A company like Square, which offers a flat rate for swiped and dipped transactions, also charges a slightly higher rate for key-in and eCommerce transactions.

There are a few other things you’ll want to watch out for when finalizing your decision about a merchant accounts provider. Along with the potential for account freezes or funding holds, keep an eye on how businesses handle chargebacks (where customers dispute a charge) and fraudulent charges in general. There are ways to mitigate these dangers, of course. You can use fraud management tools, including things like address verification services. Using a chip card terminal also dramatically cuts back on fraudulent charges.

Here are a few of our most highly recommended processing companies:

  • Fattmerchant: Fattmerchant is one of the best companies for eCommerce transactions. Its pricing is transparent without undisclosed fees. There is also a 0% markup, meaning you pay only the wholesale cost plus the monthly fee and a small authorization fee. Fattmerchant also has terrific customer service.
  • Dharma: Dharma provides a full array of processing services and also has a simple, affordable pricing structure without hidden fees. They exclusively use the interchange-plus format and are a particularly good choice for non-profits, as they offer a discount to those companies.
  • Helcim: For slightly large companies, Helcim is a very strong option. While offering a wide range of services, they have extremely competitive rates for companies that process more than $2500 a month. They also have very strong customer service and their fee structure is transparent and easy to understand.
  • Square: For companies that don’t provide a full-service merchant account, Square is the standard bearer. There is no monthly account fee and they offer free or low-cost readers. Square also doesn’t force you to sign up for a long-term contract or charge you for early termination.

Your POS System

Another way to process payments is through your POS or point of sale system. Point of sale systems have come a long way, especially in the past decade. Today, you can virtually run your entire business from one, simple device. With the influx of cloud-based systems, you can make snap decisions and check the status of your operation from anywhere with a wireless connection.

With so many options available, and with point of sale systems offering more and more features all the time, choosing the correct system to meet your needs is an important decision. The first thing you’ll need to decide is whether you want a system that is cloud-based or locally installed. Most companies have been moving toward cloud-based options for numerous reasons. First and foremost, it’s incredibly convenient. All of your data is automatically stored off-premise, so if something happens to your store or to your system, all of your payment, customer, and inventory information is still accessible. These systems are often extremely user-friendly as well, designed to be intuitive with very little training time needed. They tend to be sleek, modern, and visually appealing both to your customers and employees.

Many cloud-based systems also perform routine updates automatically, fixing bugs and adding new features so that you always have the most current software at your fingertips. Along these same lines, the best POS systems sync seamlessly to any number of integrations that can help your business in ways you may not have even considered before.

When you’re looking at purchasing a POS system, there are a number of factors to keep in mind. First and foremost, it’s likely that the cost of the POS hardware and software is going to play a large role. Some systems allow you to purchase your system and all necessary hardware upfront for a flat rate, allowing you to own the software. But if dropping a few thousand dollars isn’t something you’re comfortable with, the majority of point of sale companies offer monthly rates. A few companies, such as Square, offer a free version of their software that is generally suited for small operations, though most other POS software systems run anywhere from $39 to $99 a month for basic services while often offering advanced packages with additional features.

Let’s talk about some features you can expect to find in pretty much any good, modern point of sale system:

  • Inventory Management: Not only can you view all of your stock on hand, you can set your POS to alert you when certain products are running low or, even more conveniently, you can set the system to automatically reorder products when they hit a certain level. This can be an enormous time saver and, in most systems, inventory management can be accessed remotely. You can set up quick transfers across multiple locations and, in many cases, create and print your own purchase orders.
  • Employee Management: Likewise, your staff is easy to track and manage from your centralized POS station. You can set permissions and create alerts for suspicious transactions to cut down on fraud. Employees can be given unique codes when they log into the system and can view their hours and current schedules.
  • Customer Management: Many point of sale systems come with their own built-in loyalty programs or integrate with other companies for a small monthly fee. But these days, your POS can help with so much more when it comes to analytics and marketing. Most systems allow for customer data to be stored and easily searched. Customers can look up their own loyalty points and control their own profiles in some cases. More useful for business owners, however, is the ability for the system to analyze what items are being purchased by certain customers, assessing buying habits and creating personalized marketing campaigns that can be implemented with ease, helping to maximize profits. The same can be done with coupons, targeting customers to boost repeat business.

You will also want to do your research to see what systems specifically cater to your particular business. For example, if you’re opening a pizza shop, you may want to look for a system with built-in features that makes online ordering simple, or functions that allows customers to create a custom order which is then automatically sent to the kitchen, freeing up your employees. There are also niche POS systems for specific types of businesses. Quetzal, one of our highest-rated systems here at Merchant Maverick, is built for the retail industry with a significant bent towards shoe stores.

Many POS software systems have their own app store, like Clover, or integrate with scores of apps that might help your business out tremendously. If you’re technically savvy, most POS providers also give you access to an open API, meaning that you or a developer can create your own apps within the software.

When you’re doing your research there are a number of other features you’ll want to keep an eye on. Definitely check to see what features come in the form of add-ons which will increase your monthly fee. You will also want to make sure you have appropriate, compatible POS hardware. Several companies offer hardware packages that can be purchased directly through their websites.

A robust reporting feature should be available in most highly-rated systems and many offer their own eCommerce platforms, making it easy to set up your own website and sell online, all from your POS device.

Another key factor to research is what credit card processors are compatible with your system. While some offer a wide range of choices, integrating with most major companies, others lock you into a limited number of options or offer their own processing services for credit card payments, for better or worse.

You’ll also want to see what your system has in terms of an offline mode. Most point of sale systems have evolved to now offer at least some offline functionality, but what you can actually do in the case of an outage can vary. Many systems still function as normal, allowing you to process credit cards, encrypt transactions, and store the data to be run once the internet is restored.

It’s difficult to make a decision, but at Merchant Maverick, we’ve come across a number of point of sale systems that we would happily recommend depending on your business.

  • Shopkeep: Shopkeep is routinely on the top of our lists. This simple and reasonably priced system features everything you would expect in a point of sale system. It’s well suited for small to mid-sized retail shops and restaurants with a sleek design, excellent reporting and management tools, and terrific customer service.
  • Revel: For slightly larger restaurants or retail establishments, we often recommend Revel, a product that can manage multiple locations and large amounts of inventory with ease. Revel is intuitive and extremely robust with a top-notch kiosk function and Kitchen Display System.
  • Lightspeed: Lightspeed is another highly rated company and offers both a Retail and Restaurant product. Lightspeed has great customer service and is easy to set up while also providing intuitive front end and back end features. It also has an excellent and simple to use eCommerce platform.
  • ERPLY: ERPLY is one of the top retail point of sale systems that we’ve reviewed. One of its biggest features is the ability to integrate with most major credit card processors. It also has terrific shipping integrations and excellent customer management tools, particularly when it comes to loyalty.

Final Thoughts

There is obviously a lot to process when it comes to… well… credit card terminals and payment processing. If you’ve made it this far, hopefully you’re feeling a little more confident about your knowledge of credit card processing machines, virtual terminals, merchant services, point of sale systems, and what you should be looking for from the various companies that provide this technology. Make sure you have a good grasp on what each company charges for different transactions and what might be the best option for your type and size of business. Also don’t overlook things like a company’s customer service reputation. It’s a competitive market and you have the ability to make sure you end up with a credit card terminal and processing system that can best help your business thrive.

Interested in learning more? Download our free Beginner’s Guide To Payment Processing.

The post Complete Guide To Credit Card Machines And Terminals appeared first on Merchant Maverick.

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The Best iPad POS Systems

iPads: “They’re not just a way for tourists to awkwardly take photos anymore!”

(That is just one of the hundreds of rejected slogans I’ve pitched to Apple over the years, but I’m still optimistic. One of these days, I’ll hit the sweet spot and retire on the marketing royalties.)

In all seriousness, the iPad has been an enormous technological breakthrough across multiple platforms and, when it comes to the world of point of sale software, the iPad completely changed the game. Now entire businesses can be run on a simple, portable, and surprisingly cost-effective tablet. It’s really no surprise that so many POS companies have developed apps either specifically designed to run on the iPad or that are at least compatible with iOS. While Apple will always have its critics, the iPad’s appeal to business owners and customers alike is undeniable. But in a landscape where new iPad POS software dominates the market, it’s tough to figure out the best option to meet your needs. Fortunately, evaluating SMB software is what we do best here at Merchant Maverick. Read on for a look at a few of our favorite Apple iPad point of sale systems.

ShopKeep

Best For…

Small to mid-sized retail businesses and smaller restaurant establishments.

Pricing

$69 per month per first three registers.

Feature Overview

ShopKeep (read our review) remains one of Merchant Maverick’s most recommended iPad POS systems because it features nearly every element you would want in a good point of sale software, and does so in a highly palatable and efficient manner. ShopKeep is also competitively priced and routinely updates its software to improve on an already stellar product. And with its recent advances in features for the restaurant/foodservice industry, ShopKeep continues to live up to our 5-star rating.

ShopKeep is successful largely because it stays in its lane. It is designed for small to mid-sized businesses and caters to them in most aspects. After a comprehensive walk-through during set-up that can help you with as much or as little as your previous experience with POS systems dictates, ShopKeep is exceptionally easy to use in all facets. The inventory management feature is truly impressive, offering an unlimited number of products and a matrix inventory, which is an advanced feature for a small to mid-sized business.

The company’s multi-store function has also come a long way and you can view details across all of your locations on one device. ShopKeep’s customer service is excellent and, although the company suggests using its own payment processing plan, it is integrated with numerous other processors so you’re not locked in.

Takeaway

Like most of the best POS systems, ShopKeep continues to improve. In particular, ShopKeep is becoming a better and better option for restaurants. Already boasting an excellent interface and strong reporting and employee management, the modifier and check functions of this POS make it worth a look for any new business owner. ShopKeep is at the top of its field for user-friendliness, working well with most versions of the iPad, including the iPad Pro, iPad Air, and iPad Mini.

Read our complete review or check out ShopKeep’s website for yourself.

Vend

Best For…

Any sized retail establishment

Pricing

Four options, starting with a limited free version. Other packages are $69, $99 and $249 a month with discounts for being billed annually.

Feature Overview

Vend (read our review) is a terrific option for anyone looking for a tablet POS system. The company offers a Mac bundle, PC bundle, and an iPad bundle, all of which feature Vend’s easy-to-use software and fairly robust feature set. If you’re a retailer looking to keep costs down while not feeling like you’re missing out on any top-tier functions, Vend is worth a long look.

Like ShopKeep, Vend does a nice job catering to its specialty: small to mid-sized retailers. There is some basic foodservice functionality that makes Vend perfectly acceptable for small vendors like cafes or food carts but, to retail shops will get the most bang for their buck (or lack of buck if you take advantage of Vend’s limited but still generous free version). Although the software is geared to smaller, more independent retailers, Vend is more than capable of handling a multi-store operation. Its eCommerce platform (available in the Advanced and Multi-Store versions) is easy to set up and navigate.

Vend thrives in the area of customer management. It offers a built-in and comprehensive loyalty function and makes it easy to take and store customer information for future promotions. The inventory management tool offers everything a small business would need, with the ability to import via a CSV file and an option for creating purchase orders. Vend integrates with loads of other software apps and has strong customer service, although it charges extra for its premium support.

Takeaway

Vend is one of the most versatile and effective iPad POS systems for retail businesses. If you’re a small company just starting out, you can take advantage of its free package. And if you have a large-scale multi-store enterprise, Vend is robust enough to have your back as well. With an advanced eCommerce platform and great customer management, Vend is worth a long look.

Read our complete review or visit Vend’s website on your own.

Revel

revel systems

Best For…

Mid-sized to larger foodservice businesses, though it can be adapted to smaller restaurants as well.

Pricing

Revel has a flexible pricing structure depending on what features you need. The cost of the software is built into the monthly subscription.

Feature Overview

Revel (read our review) packs a ton into its relatively unassuming software. The company, which functions best as an Apple-based restaurant POS, has also expanded to suit certain retail establishments as well. Revel currently is only offered on Apple iOS devices, but it is a fully functional POS and is robust enough to suit large, multi-store restaurant chains. However, as long as you’re not overwhelmed by its wealth of back-end features and an interface that is slightly less intuitive than average, Revel is flexible enough to work with smaller retailers as well. It features a flexible pricing structure to suit multiple needs.

As you would expect, Revel offers real-time inventory management with a convenient matrix for importing mass items and tracking them across multiple locations. Revel also has a fantastic Kiosk option for iPads which allows customers to order and pay on their own with a number of different methods. The Kitchen Display System for cooks is a strong feature, helping to cut down on ticket times and increase communication between the front- and backend of a restaurant.

Where Revel really separates itself is reporting. Its comprehensive suite features a convenient layout and runs nearly any report you could think of. Combine that with a great QuickBooks integration, and Revel makes some of the minutiae and tedium of backend features simple.

Takeaway

Revel is a powerhouse of a POS that can handle large-scale restaurant establishments. The system boasts excellent real-time reporting and an extensive employee management system. Though it comes with a slightly higher learning curve than some systems, Revel’s wealth of integrations gives it a big edge in a very competitive market, and it’s one of our favorite POS solutions here at Merchant Maverick.

You can find our full review here or check out Revel’s website.

talech

talech POS logo

Best For…

Almost any type of food service establishment.

Pricing

$69 or $99 a month with an enterprise option as well.

Feature Overview

There are many nice things about talech (read our review), but what I really appreciate is that, depending on your size of business, you can really get what you pay for. The Standard package gives you everything you would need for a small retail store or quick serve restaurant, while the Premium package expands its features to serve larger retailers and full-service restaurants, meaning you’re generally not going to be paying for features you’re not using.

talech does plenty of things well, starting with a strong and functional inventory management system. You can generate your own barcodes and print them from any device, track product history and performance across multiple stores, and create complex inventory bundles. Employee management is another strength; talech makes it easy to track an individual’s sales and actions. There is also a function which makes it so that managers, via swipe cards, are the only ones allowed to make voids.

talech review

talech is constantly updating and adapting to stay on top of current trends. One of its most recent changes is its online ordering system, which is an add-on that can dramatically increase a business’s sales output. talech integrates with a handful of major companies, including QuickBooks, Xero, Shopify, and Magento. It also offers highly regarded customer service.

Takeaway

talech is exceptionally affordable and has options for small to large restaurants. Even with lower tier packages, you get terrific inventory and employee management. With its commitment to updating its software and the ability to set up online ordering, talech continues to impress.

Read our complete review of talech or check out their website.

ERPLY

erply-logo

Best For…

Small to mid-sized retail businesses.

Pricing

$200 or $350 a month with enterprise options available.

Feature Overview

For ease of use, ERPLY, (read our review) continues to be at the top of the iPad point of sale class. Designed specifically for small to mid-sized retail businesses, ERPLY is another company that specifically seeks to alleviate recurring issues that smaller, independent business owners may be having with their software. ERPLY is remarkably user-friendly and comes with the ability to customize and print purchase orders — and it also connects with major shipping companies.

Inventory management is simple and customizable. You can set limits for stock to be automatically reordered. Tracking inventory across multiple stores is intuitive, and ERPLY’s inventory module makes it possible to determine pricing by location (or even by a specific promotion or sale that you may be running). Speaking of which, ERPLY offers a built-in function for promotions and it can store all kinds of information on customers, from their social media IDs to their loyalty points.

ERPLY comes with well over 100 reports, so if you’re into analytics, they’ve more than got you covered. You would think with that much to offer, the software would be a bit unwieldy, but ERPLY prides itself on its simple to use platform. Everything can be customized to suit your personal style.

Takeaway

ERPLY isn’t a bargain by any means, but if you’re looking for an iPad POS that’s pretty much hassle free and loaded with features, it might be worth the expense. ERPLY is easy to navigate right out of the box and does just about everything well. It is particularly useful if your business has multiple locations. You’ll have to shell out a bit more per month than you would for some other systems, but many merchants will find the convenience worth the cost.

You can find our full review here or visit ERPLY’s website on your own.

SalesVu

Best For…

Small to mid-sized retail and restaurant establishments.

Pricing

Flexible, but generally ranging from $25 to $150 a month.

Feature Overview

Another one of our 5-star systems, SalesVu (read our review) can handle both small to mid-sized retail and restaurant establishments. The software isn’t flashy, but all of the functionality you would expect from an Apple-based POS is there. Food industry businesses can set up their menus to switch to Happy Hour prices at specific times, and a convenient kiosk function allows customers to order directly at the table. SalesVu’s simple eCommerce platform is ideal for online ordering, and creating your own website with back-end integrations built-in can be done in a matter of minutes.

SalesVu’s inventory management is excellent, allowing for mass imports via CSV files. You can also use your iPad or your iPhone as a scanner. When an item is getting low, SalesVu alerts you and gives you the option of pulling the item completely or allowing for sales to go through even when supplies are limited.

SalesVu is also a great option for spas, salons, or any service-based businesses, featuring a built-in function that connects employees to a scheduling calendar.

Salesvu review

There are also plenty of reports available, as well as a built-in loyalty integration that can store customer information for sales and promotions. Currently, SalesVu is limited in its integrations but it does pair with QuickBooks and a handful of different credit card processors. You also get highly rated customer service. SalesVu is a fairly affordable iPad point of sale system, but its pricing structure can be a bit convoluted, so you’ll want to speak with a representative to sort out the details.

Takeaway

SalesVu’s flexibility is refreshing and, even if you’re going with one of its smaller packages, you get a lot for your money. The inventory management is excellent and, for small food service businesses, its kiosk function is terrific. Built-in loyalty and integrations with multiple processors are also big pluses.

Read our complete overview of SalesVu or visit the company’s website.

Lavu

Best For…

Quick service or full-service restaurants.

Pricing

$79/month with enterprise option available.

Feature Overview

Designed specifically for iPads, Lavu (read our review) is an impressive POS that can fill the needs of most mid-sized food industry businesses (either quick service or full service) and some light retail establishments. The interface is sleek and modern and designed with servers in mind. Order taking is simple and table and menu layouts are all intuitive and customizable. Lavu has a very convenient system for creating and executing modifiers as well.

Keeping with its employee-friendly theme, employee management is one of Lavu’s strong suits. Servers can log in with a key code and their hours and overtime are easily tracked; permissions can be assigned with a simple click. The company has also recently bolstered its inventory management feature, allowing for bulk importing and automatic alerts when products run low. If you are operating multiple stores, inventory can quickly be transferred from one location to another.

Lavu’s gift card and loyalty plans are both available as add-ons, which isn’t ideal. However, once you’ve purchased these add-ons, they integrated seamlessly with the software. Lavu has some other nice integrations, including an impressive customizable kitchen display system and customer-friendly features for online ordering and pick-up. Lavu integrates with a wide range of processing companies as well, giving you flexibility.

Takeaway

Your employees should love Lavu — its interface is easy to learn and simple to navigate. And, as a manager, you’ll appreciate the customizable options and employee management functions. Lavu has recently beefed up its inventory management, which had been one of its few flaws in the past, and it is now an extremely well-rounded option.

Check out our complete review of Lavu or visit Lavu’s website.

iConnect

Best For…

Most retail establishments with a bent toward spas and salons.

Pricing

$75/month with a multi-store option available,

Feature Overview

With a name like iConnect, (read our review) you know you have a POS made specifically for iOS (although it recently updated to function on Windows as well). iConnect is a versatile system that is perfect for small or large retail establishments, depending on the plan you purchase. iConnect has some unique features that make it a particularly strong option for businesses that book appointments, like salons. With the ability to set up recurring billing, it’s also a useful system for gyms and other businesses that operate on monthly subscription plans.

Customer management is a big draw for iConnect. Each customer is assigned a code, storing their information and making it simple to create specific promotions with its built-in loyalty program. As with most Apple POS systems, the interface is intuitive and comes with a helpful set-up process. Some of the more advanced features come with a higher learning curve, but the front-end, in particular, is easy to navigate.

iConnect comes with 55 reports and you can customize how they appear, easily adding your most run reports to the top of the screen. It’s not the most robust reporting system around, but most businesses shouldn’t find it lacking. There is also eCommerce functionality that can help you create your own website at no extra cost. The system comes with a large number of impressive integrations and the option to purchase add-ons that could be helpful, depending on your specific business.

Takeaway

iConnect is another versatile option that can be customized to fit your business’s needs. This iPad POS features some unique features for gyms, spas, and salons. iConnect has strong customer management features, especially in terms of setting up promotions, and its interface is intuitive and easy to operate.

You can find our full review here or visit iConnect’s website on your own.

Final Thoughts

iPad users are notoriously loyal to their devices and, if you fall into this category and are hunting for a POS system, you’re in luck. Many of the best point of sale systems were specifically designed to run on iOS — there’s almost certainly an option that will meet your needs. And this is not an exhaustive list, by any means. For the full scoop on all the top-rated POS systems for iPad, be sure to check out our iPad POS software reviews. 

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