POS System Installation Cost: 5 Factors that Influence Price

Graham Hoffman | March 23, 2022 | 75 views

POS System
How much does it cost to install a point of sale (POS) system?

It’s a question that we get all the time and the answer might surprise you.

If you’re trying to grow a retail small business, you probably don’t have all the money and resources in the world to commit to an expensive retail POS system.

Moreover, finding the best retail POS system for your growing small business is easier said than done, especially if you don’t know what features to prioritize in your search.

So, what’s the good news? Finding the right POS system for your business is as easy as 1-2-3 and installing a POS system is actually quite affordable!

How Much Does it Cost to Install a POS System?

The short answer: it depends and varies by POS type and by vendor. We've seen POS installation costs range from $0-$700. Installation costs come on top of the upfront hardware costs (up to $1,600), monthly software fees (anywhere from $9-299 per month) and payment processing fees.

When it's all said and done, your total cost of ownership for year one can range from $1,200-$6,500. Controlling POS installation costs is key in minimizing first-year total ownership cost.

There are two types of costs to consider related to installing a POS system: time costs and financial costs. The most significant delays come when the POS system isn’t pre-configured for your unique business. In this scenario, you may spend a considerable amount of time aligning the system with your sales processes.

Additionally, if your inventory management, employee payroll, and other tools are built inside separate programs, you may need to spend time integrating and combing these systems, thus increasing POS installation costs.

Finally, if the provider doesn’t offer online software guides or tutorials, you may spend your time figuring out features and functionality on your own. Without these helpful resources, you’ll spend a considerable amount of time fumbling through the system. No one has time for that!

These time costs tie directly into financial costs. Instead of spending time installing a POS system yourself, you could be spending that time ringing in sales!

Here are some of the other things that influence POS system installation costs.


Number of Stations

If your POS system isn’t pre-configured so that you can “plug and play,” you’re most likely going to require an on-site technician to install your POS. Often, the total number of stations influences total installation cost. The more stations you have, the more time the technician has to spend installing them, and the higher your installation costs will be.

Type of Software/Hardware

This is another downfall of not purchasing an all-in-one retail POS system that comes pre-configured. Some software and hardware come with additional installation costs because they require more time for your on-site technician to complete.

These costs can also be looked at from the type of POS system you purchase: on-site, cloud-based, or hybrid.

On-site POS systems typically take the most effort to install, meaning a higher financial cost. Cloud-based and hybrid POS systems are easier to install, but installation time is dictated by whether the software and hardware is pre-configured or not.

Advanced Features

Many advanced POS system features may require additional time and additional cost for a technician to install.
  • iPads or other mobile devices for staff to use when serving customers
  • Handheld scanners for inventory
  • Payment hardware and their corresponding security systems or software
  • Data or product migrations from your previous POS system

Number of Users

Certain POS providers price their system based on the number of users. This can also affect install costs. If you require an on-site technician and/or you don’t have access to a tutorial for adding users to the system, the technician will most likely have to do that for you. Again, this means more time spent installing your POS system, increasing the total installation cost.

Training

Some POS providers will wrap POS system training into installation costs. This will require an investment of time from key stakeholders, including management and employees.

Some POS providers will also charge you for additional training outside of the initial training session. If they don’t have online training resources, this means every new employee will either need to be trained by the provider (costing you money) or trained by you or another staff member (costing you time).

POS Nation Reduces the Cost of Installing a POS System

With a POS Nation all-in-one retail POS system, setting up your hardware is easier than you’d think. The benefit of purchasing a full point of sale system from us is that it’s a plug-and-play solution. Take it out of the box, plug everything in, and it’s ready to go! Our team of technicians pre-configures your hardware so you don't have to worry about any installations when it arrives. Most of our advanced features are baked right into the software. There are some that cost extra, but most are pre-installed, making us a more powerful and affordable solution.

Additionally, you are assigned a customer success manager. Their goal is to help you get up and running as quickly and smoothly as possible. They will schedule a hardware setup appointment with you. During this call, they will assist you with:
  • Remote hardware setup
  • Hardware testing
  • A test transaction on the pinpad
  • Any basic training they can cover during the appointment time

They will book as many training sessions as you need to solidify your understanding of the software and its many functionalities. 

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Mission The place is a family business in which 200 people work throughout the country in different areas: directors, administration, human resources, marketing, logistics, accountants, lawyers, sales and managers. The place is a free shop chain that provides personalized attention with a variety of services throughout the country.

OTHER ARTICLES
POS SOLUTIONS

How POS Solutions Assist Restaurants to Increase their ROI?

Article | March 22, 2022

Introduction The hospitality industry has always been challenging and full of obstacles, such as low-profit margins, high competition, and turnover management, irrespective of the type of restaurant or level of owner experience. However, rapidly changing business dynamics and current conditions have increased these challenges enormously. Changing customer preferences, including high customer service expectations and an emphasis on the sourcing of ingredients and nutrition values, affect the entire operation. Also, the growing importance of reviews and word-of-mouth referrals makes brand management both more crucial and complex. Thus, several restaurant owners are increasingly investing in innovative solutions, such as restaurant POS systems, to improve the consumer experience, empower business owners to manage restaurant operations more efficiently, and increase ROI. Top 5 Ways How Restaurant POS Integration Can Boost ROI Due to the fast-paced nature of the restaurant sector, coupled with ever-changing customer needs, business owners encounter numerous challenges in keeping up with the changes and meeting customer expectations while maintaining perfect control over all aspects of their operations. As restaurant POS systems provide solutions for these challenges while also improving workplace efficiency, automating several tasks, monitoring employee performance, and enhancing security, these systems are gaining massive popularity in the hospitality industry. Out of all the new features that restaurants can get from POS integrations, such as delivery management, accounting, and more, these are the most important ones that help owners get the best return on their investment: Create Data-driven Campaigns Modern POS solutions enable restaurant owners to collect valuable data about their customers, such as their preferred food choices, their addresses, how often they visit the establishment, and others. These actionable insights can be used to create personalized campaigns, increasing their chances of responding to a customized offer and improving ROI. Support Omnichannel Communications and Payments With the advent of e-commerce, food can now be ordered and paid for via multiple channels, including the restaurant's website, third-party applications, the phone, and others. Therefore, it has become essential for restaurant owners to increase contact with their customers. Integrating a restaurant POS system enables owners to facilitate omnichannel communication and payments and discover the optimal way to communicate with consumers, thereby increasing food order flow from both offline and online channels. Improves Customer Relationship As the restaurant sector continues to become more competitive year by year, it is becoming crucial for restaurant owners to improve their relationships with customers. With restaurant POS systems, customers can make the payment using their preferred methods, such as cash, credit or debit card, QR code, UPI, and others. These systems also reduce the time for placing food orders as well as decline the chances of order misplacement. This results in providing better customer service, improving customer relationships, and increasing customer inflow. Streamline Restaurant Operations From front-of-house to back-of-house operations, modern POS technology assists restaurant owners in streamlining various business operations such as inventory control, labor management, payment getaways, and order tracking and delivery, among others. Thereby reducing the overall cost, declining the chances of errors, and improving profit margins. Final Thought Today, POS technology is clearly a necessity for the hospitality industry, irrespective of the type of establishment, such as fine dining, fast food, cloud kitchen, hotels, and others, to enhance restaurant operations, provide a smoother customer experience, and improve ROI. With the introduction of customizable POS solutions and a growing shift towards cashless payments, modern restaurant POS systems are anticipated to transform the ways of food ordering and payment in the forthcoming years.

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Top 5 Reasons Why Modern Restaurant Needs Integrated POS Solutions

Article | July 14, 2022

Introduction Due to the dynamic nature of the industry and the ever-evolving demands of its customers, restaurant business owners are facing a unique set of challenges. This is compelling them to streamline their operations to meet customers' rising expectations while maintaining perfect control over all aspects of their establishment. In addition, emerging innovative technology solutions are rapidly changing the world of payment systems, and the restaurant industry is the best example of it. Today, opening a restaurant is more than just serving food and making money. It is about providing a memorable experience to the customers and retaining them. As a robust restaurant point-of-sale (POS) solution assist in delivering a better customer experience, pacing up the ordering process, and managing inventory, among others, it is gaining huge popularity in the sector. Why Does Restaurant Need to Invest in Modern POS Systems Today? As the trends of online food ordering at dine-in and competition in the hospitality industry continue to deepen, it is becoming imperative for restaurant owners to efficiently manage the point of sale for their eatery. Also, the growing need for faster customer food service, efficient employee scheduling, and effective inventory management is encouraging business owners to adopt innovative restaurant technologies, such as restaurant POS systems. Here are some of the main reasons restaurants should integrate modern POS solutions. Effective Ordering Processes The ordering process, being the nerve center for restaurants, is one such aspect that needs serious attention. As food ordering processes that take a long time can significantly hamper the customer experience and satisfaction, owners of food establishments are aiming at leveraging novel restaurant POS systems to streamline and ease the food ordering processes. Increase Cash Flow Optimum cash flow is the backbone of any business. If restaurants are unable to maintain enough cash flow, they will have difficulties staying in business in the long run. Since restaurants are able to serve more customers per hour with fast-paced POS technology, allowing for greater sales and increased cash flow, business owners are aiming to deploy these modern POS solutions. Organize and Track Profit and Loss Keeping an accurate track of the income and expenses is of great importance for understanding the financial position of the eatery and creating an effective strategy to increase its revenue. A POS system can assist business owners in preparing a settlement at the end of each day, week, and month, keeping track of the ROI, and organizing profit and loss. Offer Security to Customers Customers or guests are increasingly using various cashless modes for transactions, such as credit cards, online banking, and others, for making payments. With increasing instances of customer data theft, guests are increasingly concerned about their data privacy and payment credentials. Hence, several food establishments are emphasizing embracing restaurant POS software to offer enhanced security to customers. Build Customer Database In today's highly competitive world, engaging and retaining customers is crucial for the success of businesses, especially in the restaurant industry. As the latest POS solutions aid restaurants in enhancing customer communications and loyalty, along with improving customer relationship management by building a customer database, these solutions are increasingly being sought in the sector. The Ending Thought With the emergence of innovative trends in the hospitality industry and the ever-changing needs of customers, it is becoming difficult for restaurant owners to keep the customers happy and build credibility in the long run. Since modern restaurant POS systems with advanced integrated technologies, such as artificial intelligence, can assist these restaurants in overcoming these obstacles along with providing numerous advantages, including cost reduction and increased ROI, these systems are anticipated to become a necessity for restaurants in the coming years.

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Cashless Restaurants: A New Frontier in Hospitality Industry

Article | June 14, 2022

Introduction The restaurant sector is facing constant transformation with the emergence of new hospitality industry trends and technologies, along with numerous challenges. Even with the roadblocks, the industry continues to grow at a staggering rate. According to the National Restaurant Association, the size of the restaurant industry in the U.S. is anticipated to increase from US$799 billion in 2021 to US$899 billion in 2022. From fast food to fine dining, food delivery to contactless tech, well-known restaurateurs are investing in new technologies to build meaningful relationships with their staff and customers, improve the customer experience, and meet changing expectations of guests. The hospitality industry is seeing the emergence of a new cashless restaurant trend as a result of the widespread adoption of advanced contactless POS technologies and rapid digital transformation. Furthermore, restaurants are moving away from accepting cash payments since more and more customers are embracing contactless payment alternatives like credit cards, UPI, and QR codes. What Are the Features Driving the Cashless Restaurant Trend? Dine-in establishments, such as restaurants, bars, and cafes, have become increasingly popular among the population today, leading to longer wait times for orders, slower service, and more difficulty processing cash payments. Furthermore, increasing hygiene concerns and rising incidences of internal theft across food spaces are deepening the cashless restaurant trend in the hospitality industry. Let’s see some of the attractive features further encouraging restaurants to go cashless: Convenient for Guests As digital currencies are paving the way of payment, guests are increasingly looking forward to visiting locations where they can make the payment swiftly without the need to carry physical money. Cashless restaurants make it easy for guests to pay with their mode of choice: credit or debit cards, net banking, payment gateways, QR code scanning, and others, offering the convenience customers and guests are looking for. Reduces Risk of Internal Theft One of the significant problems that the majority of restaurants face is theft, which negatively impacts both profits and expansion opportunities. Theft has been commonplace in the eatery, especially when employees, rather than the owner, are in charge of the cash register. The National Restaurant Association estimates that staff theft costs quick-service restaurants between 5% and 7% of their revenue. However, a cashless restaurant operates entirely on the latest POS solutions and only accepts digital currency, eliminating the possibility of internal theft. Reduces Wait and Transaction Time Transaction time is one of the crucial aspects that can impact the customer experience, especially across quick service restaurants. Difficulty completing a transaction due to lack of change and related issues can result in lengthening the wait time and creating a hassle. The adoption of electronic POS solutions by cashless restaurants resolves this issue, reducing the potential for such incidents to occur. This assists in speeding up the transaction process and decreasing wait times. Increase ROI Cashless eateries with their modern restaurant POS solutions enable owners to track and record every digital payment transaction made by guests, providing essential data on who buys what and when. This opens up a new window for eating establishments to gain insight into their patrons' tastes and tailor their services accordingly, resulting in increasing footfall in the restaurant and an accelerating return on investment. Modern POS Solutions: The Future Need of Cashless Restaurants With the rise in the use of digital currencies and electronic payment solutions, food establishments are increasingly investing in deploying cashless restaurant POS systems to improve the customer experience while boosting their ROI. As per a survey, 94% of restaurants stated that they have invested in cashless payment solutions. As the trend of cashless restaurants continues to gain popularity across the hospitality industry, food establishments accepting only cash are looking for ways to go cashless. This is anticipated to create a massive demand for modern restaurant POS software in the upcoming years.

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Article | February 10, 2020

Last July, a small group representing the giants of the tech industry gathered in the seat of US government, Washington DC. They probably didn’t want to be there. Congress had summoned their employers Apple, Facebook, Google, and Amazon to answer questions about the command they hold over the markets they operate in. On Amazon’s behalf, associate general counsel Nate Sutton spoke in defense of his employer’s role in US retail. Throughout, he argued that Amazon isn’t so powerful as to be able to control prices and stifle competition. Amazon, he pointed out, makes up less than 1% of retail globally. In the US, it accounts for around 4% of retail. In fact, Walmart is much larger than Amazon, he said. In terms of sales, Sutton is right. Walmart reported $510 billion in total sales across its US and international segments in the 2019 fiscal year, versus Amazon’s $233 billion in roughly the same period.

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The Place Free Shop

Mission The place is a family business in which 200 people work throughout the country in different areas: directors, administration, human resources, marketing, logistics, accountants, lawyers, sales and managers. The place is a free shop chain that provides personalized attention with a variety of services throughout the country.

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DePay | November 23, 2022

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