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POINT OF SALE

What is Better – Buying or Leasing Point of Sale Software

Read this article and discover what is better for your business – to buy or to lease Point of Sale software! Get all information and details here!

Let’s face it – the Point of Sale software serves as a foundation for every retail company. It allows companies to accept customer payments in a secure way and offer them an upgraded and more convenient shopping experience. However, the only problem is that the average Point of Sale system can cost from $500 to $3000 per station which can be too expensive for small businesses, startups, and businesses with limited budget.

Luckily, there are various options your business take use today, such as renting the equipment and pay a monthly fee only. This is a more acceptable option for a lot of businesses as they take advantage of the POS system and pay lower costs for using it as well.

Before you make a final decision, we advise you to make a thorough research, analyze both options, and then decide which option – buying or renting suits your business’s needs the most.

BUSINESSES

BUSINESSES

Point of Sale options for small businesses

  • Purchase – There are a lot of businesses that don’t consider this option because of the high price. However, purchasing a POS software could save you money over a longer period of time of your company’s relationship with the credit card company. For example, you may be required to sign up a long-term contract or pay a certain fee to the company you are leasing the equipment from. On the other hand, there are companies that will allow you to cancel the leasing of the equipment at any time. The best option of all, if you purchase a software that doesn’t work as well as you had planned, you may return it. This is a way better option than leasing an equipment with an agreement where you are tied for a certain period to lease the equipment, regardless of whether the equipment suits you or not.
  • Lease – One of the top reasons why businesses choose this option is affordability. And for a startup business or for a business with a limited budget this is an excellent option. You will have to pay a small monthly fee and you can use the extra money from your budget to expand your business. Besides affordability, you will also see a tax advantage when leasing a Point of Sale software. Since you claim the money you spent each year rather than amortizing it over several years. Another benefit you will experience when using leased equipment is that you will be automatically informed when the technology evolves. You will not have to worry about the newest trends in the market as the company you are leasing the equipment from will upgrade the software for you. So, you will be using a totally new software without keeping track or following the latest market trends. However, some retailers who have decided to use this option have realized that their provider was uninterested or unwilling to update the software, which left them vulnerable and without a possible solution. So, we recommend you to analyze the provider before you decide to rent the equipment.

Every business needs a Point of Sale system. You should check some platforms such as Shopify for your POS system, their services are known to be reliable and easy to use. It is important to choose the right equipment to fit your own business’s needs and knowing all of your options will help you make a right decision, whether you are interested in buying or renting the equipment. Don’t make rash decisions choose wisely!

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