Point of Sale System Cost

• Retail or restaurant single-register "starter kits" range from $1,500-$2,500; more elaborate, multiple-station systems with features such as touch-screens, automatic ordering and sophisticated reporting capabilities can cost $15,000-$20,000 and up.
• IBM has POS systems starting around $1,999-$2,499, but costs can increase up to $4,000 or more per station.
• Microsoft offers its Retail Management System starting at $1,290 for a single store with one cashier's lane.
• QuickBooks sells its Basic POS software for $800, a Pro system for $1,050 and a multi-store version (up to 10 sites) for $1,400; with hardware included, prices start at $1,750.

• At the core of a POS system is a standard computer running specialized software and hooked up to a cash drawer/machine, a monitor and a receipt printer; depending on the price, a POS system may also include a bar code scanner and a credit card reader. POS systems are often sold pre-configured, or those with technical expertise can buy the components and software separately, and add additional hardware as their needs (and business) grow.
• Industry-specific systems are available for industries such as beauty salons, auto repair shops and dry cleaners.

• The more your system has in terms of equipment and report-generating capabilities, the more it will cost. Often it's best to start simple, but with a system that allows you to expand later on.

• Check for businesses (similar to yours) that are closing and may be selling relatively new POS systems; used is always cheaper than new.
• DataMaxSys.com and ReSourcePOS.comsell refurbished systems.

• AllBusiness.com gives a short overview of what to look for from a retail POS vendor.
• EZCashRegister.com sells a range of "bundled" starter kits for restaurants and retail outlets. POSGlobal.com sells both pre-packaged POS systems and individual components.
• If you don't have a lot of up-front cash, you can lease a POS system; be sure you understand all the terms of the lease.
• Before you choose, know exactly what kind of warranty or support comes with the POS system, and what sort of training your staff will need to use the equipment.

More Articles in Point of Sale and Merchant Account