With a limited amount of start-up capital and financing, every single dollar that is spent on equipment costs and other associated expenses for your new business matters. Keeping in mind that more than 50 percent of small businesses fail within the first year, and only 40 percent of small businesses are even profitable, according to Small Biz Trends, the odds are already against your business succeeding on a long-term basis.
Fortunately, investing in an iPad POS stand is one purchasing decision that will help you drastically improve your business in more ways than you may realize.
A Substantial Reduction in Overhead Expenses
When it comes to searching for long-term investments that are worthy of your time and money, identifying the option with the highest ROI is the best course of action to take. It is always important to identify effective ways to add more money to your bottom line by reducing your overhead expenses.
With standard POS systems, you will have to pay a substantial amount of money upfront in addition to software licensing fees for each individual register as well as annual maintenance fees that range between 18 and 20 percent, according to Yahoo Finance.
Expanding Your Business to Remote and Mobile Locations
Before the days of the Internet and mobile technology, expanding a business required an additional physical location. Leasing or purchasing real estate and setting up a brand-new store from the ground up seemed to be the only option available for successful business owners who were looking for opportunities to expand. Nowadays, you can expand your business to mobile and remote locations for a fraction of the costs you would have paid for the traditional means of expansion.
With a mobile iPad POS system, according to the NCR Corporation, you will be able to take your business anywhere that has wireless Internet access. Whether you decide to open a booth or kiosk in a local shopping mall or process sales at a local trade show, all that you will need to bring along with you is a mobile iPad POS system.
Increasing Popularity of Self-checkout Systems
Another reason why investing in a mobile iPad POS stand system, such as the models sold by Shopify, is a building block for long-term growth is that it fully prepares you to take advantage of the increasing popularity and prevalence of self-checkout systems and terminals. One report showed that 27,000 self-checkout systems were sent to businesses worldwide in 2012.
Estimates confirm that the popularity of these terminals will steadily increase year after year until it reaches a minimum of 60,000 terminals by 2018, according to Business Bee. You will be able to increase the speed and efficiency of the average checkout process, which will also improve the quality of your customer service experience. You can even save a considerable amount of floor space by reducing the number of stationary front-end terminals that you have and replacing them with more self-checkout terminals integrated with a mobile iPad POS system.
Increased Efficiency of Analytics and Reporting
In addition to what takes place on the front-end — customer service, sales transactions, etc. — there are a number of tasks that must also take place on the back-end as well. Think about all of the analytical reports and data gathering that goes into the average work day or even work week.
You need to be able to have a real-time calculation of sales data, generated revenue and other key performance indicators that play an instrumental role in determining the level of your success, or the lack thereof. You will be able to prepare for business conferences, meetings and sales presentations in a fraction of the time that it would have taken without having these tools readily accessible to you, according to All Business. This type of efficiency will quickly pave the way for you to do more for your business, especially since you will be able to quickly identify your strengths as well as the areas of improvement that need to be addressed as soon as possible.
Portability is the Future
Regardless of the size or type of industry in which your business is categorized, there is one common thread that seems to be woven throughout the business world overall: portability. It’s a new reality that portability and mobility are the future. More and more business owners are finding new and effective ways to integrate the emerging market of mobile technology into the foundation of their businesses.
From small businesses in local areas to major national corporations, it is essential to position your company for long-term growth in a way that will allow you to maintain your competitive edge years from now. One of the best ways to do just that would be to invest in a mobile iPad POS system to get you headed in the right direction towards achieving your long-term goals.