This article will introduce you to the complexities of Point of Sale (POS) system costs and give some examples of pricepoints for POS systems in various industries.
|How Much Does a POS System Cost?|
|POS Costs by Industry|
|POS Costs by Supplier|
All manner of businesses use POS systems for a number of different reasons. Apart from their obvious financial processing capabilities, merchants of all sizes can utilize them to understand which products and combinations of products sell well, and the times when sales are typically made.
POS systems also enable businesses to implement loyalty programs and target customer advertising. Indeed, due to their sheer versatility, POS systems, regardless of cost, will initiate an immediate return on investment for any firm.
How Much Does a POS System Cost?
Depending on their features and functionality, POS systems can vary significantly in price. You can get a simple cash register for $100 or less, right up to $2,000 or more for a sophisticated, technologically advanced system. One thing to consider is whether you are simply purchasing the hardware (the cash register) or if you need payment software too.
Some companies offer deals that allow you to purchase the machinery for a reduced price if you pay to use their software at a monthly cost. These subscriptions can range from $40 per month to hundreds of dollars per month depending on the level of service and quality of software offered.
How Much Does a POS System Cost in Different Industries?
The table above shows some typical costs you could expect to pay for POS systems in different industries. These are just examples, and actual costs for your business will depend on its size, location and requirements.
Read on for a more in-depth look into the average POS costs for each of these industries.
Restaurant POS Systems
Restaurants have unique needs, which means that standard POS systems will not be suitable. On the other hand, reastaurant POSs are ideally equipped with features such as:
- table management
- customized ordering
- inventory management
- automated ordering
- customer loyalty services
Prices for a restaurant POS system can start from around $700. A typical low cost example is the Vend Premium which includes; POS software, a complete hardware bundle, PayPal card readers, thermal receipt printer, cash drawer and drawer mount.
Alternatively, at the top end of the market is the BCI Restaurant/Bar POS which includes a touchscreen POS X computer, receipt and kitchen printer, Aldelo Pro software and a cash drawer. Prices for this system start from $2,600.
Grocery POS Systems
Grocery POS systems are designed to efficiently handle large numbers of customers. As well as racking up sales, grocery store systems can help you keep track of your inventory, understand best and worst sellers, automate purchase orders and accept gift cards.
At the top end of the market is the BCI Grocery Premium Plus which retails for around $4,000. Features available on this model include; a 19 inch monitor, Inuit POS software, scanner, pole display, credit card reader and receipt printer.
For businesses looking for a budget option, the ShopKeep POS Basic is one to consider. This is an entry level POS system with iPad compatibility which allows users to take payment and monitor inventory levels. However, as with many of the cheaper systems, there is a monthly software subscription fee of $49 per month.
Salon POS Systems
Salon POS systems are designed to meet the needs of business owners through the inclusion of appointment management, employee time tracking, customer account management and inventory tracking.
One of the most popular models designed specifically for salons is the Stylist in a Box Point of Sale which includes; 18 inch monitor, HP hardware, MSR, barcode scanner, cash drawer and MIKAL salon software. This model retails for around $3,300 for a single terminal system.
On the other end of the scale a system like Rosy's cloud POS for salons and spas starts at just $29 per month for one user.
Bar POS Systems
POS systems for bars include credit card processing, inventory tracking and age verification tools.
The Bar Standard POS system from BCI costs around $2,300 and includes Aldelo Pro software, credit card reader, touchscreen, POS-X computer, thermal receipt printer and cash drawer.
Alternatively, the PayPal Standard POS system costs around $550 for a basic terminal and card reader.
iPad POS Systems
POS systems are no longer exclusively designed to support Windows based systems. There are now a number of iPad compatible systems such as the NCR Silver. To find out more about using an iPad as a POS System, please visit our dedicated iPad page.
Costs for this model start from $500 for the hardware which includes; a swivel stand for the iPad, cash drawer, credit card reader, and counter-top receipt printer. The company then charges $79 to register your device and 10 cents per transaction (up to a monthly maximum of $29). This monthly fee provides access to live support seven days a week. New customers can sign up for a free 30 day no obligation trial to see if it suits their needs.
UNTILL's sophisticated POS systems incorporate many different features including; a messaging system, multilingual options so you can switch between English and any other language, differentiated menu options, historical data archive, time and attendance monitoring, chair ordering options, VIP accounts, pre-fix menu control, drive through and loyalty points.
With operation made easy via intuitive, touchscreen monitors, prices for their systems will depend on exactly what features you require, but generally start from around $1,800.
All MICROS systems include integrated back and front office to allow for improved customer service and optimized workflow. Other available features include wireless handheld devices, touchscreen monitors, alert manager, kitchen display system, digital signage, menu boards, customer waiting list display, customer pager, reservation management and table reporting.
Prices vary according to which system you choose, but basic MICROS POS systems start from under $2,000.
Retail Data Systems
Retail Data Systems (RDS) are the largest suppliers of POS systems in North America.Retail Data Systems cover all of the types of businesses mentioned above. All systems are highly customizable, which makes them well-suited for clients looking to meet the exact needs of their individual business.
Retail Data's POS systems start from around $2,000. For a lower cost option, some machines are also available to rent.