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Shaw Merchant Group
Saturday, May 23 2020
What Are the Best Point of Sale Systems Available for Food Trucks?

For a lot of people, being self-employed is their ultimate dream. They'd love to throw off the shackles of the office and travel around serving people who share their passion for whatever it is that they're selling. Of course, it helps if what you are selling is part of a booming business, and the food industry is certainly growing. While other markets contracted during recent recessions, both the restaurant and the food truck business have seen a rise in sales, as people have become more and more interested in convenience. This is a great time to be in the business of food trucks!

So, chances are, if you've just started a food truck business, the sales have been rolling in more or less steadily. Hungry customers are flocking around your mobile restaurant, eager to sample your dishes in the middle of whichever random parking lot you're serving today. You hand them the food, and they hand you cold, hard wads of cash in return...except when they don't.

“Oh, I'm sorry,” says one of your customers, her tone apologetic, if a bit nasally. “Do you take cards?”

That is the question, isn't it? Well, do you? Nowadays, cashless is the way, and if you're only relying on the old locked metal cash box with a couple of rolls of coins thrown in, you're probably missing out on a lot of potential sales. Yes, you can just get an old school stand-alone credit card machine and try to keep track of a million sheets of receipt paper (“Merchant's Copy!”) like they did back in the days when people need to swipe their little magnetic strips—but things are a lot different now, and in the complicated society that we live in, you're going to want a point of sale (POS) system to keep track of sales—both cash and electronic—and to give you some idea of what kind of inventory you used up. The more volume you expect to sell, the more urgent it is to have a POS.

Now, maybe all of the dirty specifics are what have you procrastinating and leaving that old school “cash only” sign outside your window. Maybe you're just confused. Maybe you don't know which POS to choose for your business. Luckily for you, we're about to clarify things a little; let's take a look at the best POS systems, what they can do, and whether they might work for your business:

1) Square: This is the most bare-bones, simple solution if you're looking for the function of a POS without having to learn a complicated interface or pay a huge monthly fee. In fact, Square does not charge a monthly fee at all, and instead takes a small percentage of your revenue. It requires minimal hardware as well, and all you need is a small peripheral that you attach to your smart phone, and from there you can use the Square app to take people's credit card payments. This simplicity and low upfront cost is probably why Square is so popular with people who sell food out of trucks or carts. It requires hardly any capital at all to get started.

Though it is an excellent payment processor that is very inexpensive for those who are just starting, keep in mind that it is extremely basic on the POS side of things. It will calculate tax and other factors, keep track of sales, and offer a few nice stats to look at here and there, it is not as extensive as other systems. If you want something more complex and feature-rich, you may want to look elsewhere.

2) Revel: If you're looking for something that offers better analytics and that can be used to track your inventory as well, you might want to look into Revel. Built specifically with the restaurant business in mind, it won't cost you too much to set it up for a single terminal, and it has a lot of features that other POS systems don't have. For example, it integrates with social media and can be set up to notify your followers of where you are so that they can come find you. In addition, it's a very flexible kind of software that doesn't require any sort of proprietary equipment to use; most kinds of cash registers will do just fine. It may not be the cheapest POS system around, but it is a very high quality choice with a lot of extras.

3) ShopKeep: If you're looking for value, ShopKeep has it. It's not as cheap as Square, but for the amount of functionality it offers as a fully-functioning POS, you can't really find anything on the market that will beat it. It has everything: The ability to modify tax rates depending on where you are, the ability to print and edit receipts, the ability to create gift cards, among many other features. You can also use it to track your inventory, as you can with Revel, and much of your information is stored on the company's own servers, so you don't need to be tied to a specific machine to view your stats. They're a bit more picky about hardware than Revel, but luckily it can easily integrate with iOS, so that may not actually end up being a problem for you.

Another nice feature of ShopKeep is that it doesn't require you to be constantly connected to the Internet, which is great during those times when you're either far away from WiFi or when your 4G Internet cuts out. Once you are connected again, it simply syncs as you would expect.

Now that you have a basic understanding of three of the most popular POS systems for food trucks, hopefully you can move forward and make an informed decision about what sort of set up is right for you. Sometimes it's best to start small and work your way into a more complex system, but of course this depends on what your goals are as well. Good luck!

Posted by: Scott Shaw AT 10:09 am   |  Permalink   |  Email

How to Start a Credit Card Machine Business?

Starting a credit card machine business can be a lucrative venture for those looking to enter the financial services industry. To begin, one must first research the market to understand the demand for credit card machines in their target area. This can involve conducting surveys, analyzing competitors, and identifying potential customers such as small businesses and retailers who may benefit from such services.

Once the market research is complete, the next step is to secure the necessary equipment and technology to start the business. This can involve purchasing or leasing credit card machines, setting up a merchant account with a bank, and obtaining the necessary certifications and licenses to operate legally. Additionally, it is important to establish relationships with banks and financial institutions to provide payment processing services, and to develop a marketing strategy to reach potential clients and build a customer base. With proper planning and execution, starting a credit card machine business can be a profitable and rewarding endeavor.

Becoming a merchant service provider can be a lucrative and rewarding career choice. As a merchant service provider, you will be responsible for helping businesses accept debit and credit card payments, as well as providing other financial services. To become a successful merchant service provider, there are several key steps you need to follow. In this comprehensive guide, we will outline the process of becoming a merchant service provider, including the necessary qualifications, skills, and steps to take to launch your business.

Qualifications and Skills Required:

Obtain a High School Diploma or Equivalent: While a college degree is not required to become a merchant service provider, having a high school diploma or equivalent is typically necessary.

Obtain Industry Certifications: Many merchant service providers obtain certifications such as the Certified Payment Professional (CPP) designation from the Electronic Transactions Association (ETA) to demonstrate their expertise in the industry.

Develop Sales Skills: As a merchant service provider, you will need to be skilled in sales and marketing in order to attract clients and grow your business.

Technical Skills: You will also need to have a good understanding of technology and how payment processing systems work.

Steps to Become a Merchant Service Provider:

1. Research the Industry: Before launching your business as a merchant service provider, it's important to research the industry and understand the key players, trends, and regulations that govern the industry.

2. Create a Business Plan: Develop a detailed business plan that outlines your target market, services offered, pricing structure, marketing strategy, and financial projections.

3. Obtain Necessary Licenses and Permits: Depending on your location, you may need to obtain specific licenses and permits to operate as a merchant service provider. Check with your local government or regulatory agency to determine what licenses are required.

4. Choose a Payment Processing Partner: To process payments for your clients, you will need to partner with a payment processing company. Research different payment processors to find one that offers competitive rates, reliable service, and the features you need to serve your clients.

5. Develop Your Sales Strategy: As a merchant service provider, your success will depend on your ability to attract and retain clients. Develop a sales strategy that includes identifying target markets, creating marketing materials, and networking with potential clients.

6. Set Up Your Business Operations: Set up your business operations, including creating a website, establishing a business bank account, and setting up accounting and invoicing systems.

7. Provide Excellent Customer Service: To stand out in the competitive merchant services industry, it's important to provide excellent customer service to your clients. Be responsive to their needs and concerns, and go above and beyond to ensure their satisfaction.

8. Stay Current with Industry Trends: The merchant services industry is constantly evolving, with new technologies and regulations shaping the landscape. Stay current with industry trends by attending conferences, networking with other professionals in the industry, and reading industry publications.

9. Continuously Improve Your Skills: To succeed as a merchant service provider, it's important to continuously improve your skills and knowledge of the industry. Consider obtaining additional certifications, taking courses, or attending workshops to enhance your expertise.

10. Grow Your Business: As your business grows, consider expanding your services to offer additional financial products and services to your clients. Continuously look for ways to differentiate your business and attract new clients.

Becoming a merchant service provider can be a rewarding career choice for individuals with strong sales skills, a passion for technology, and a desire to help businesses succeed. By following the steps outlined in this comprehensive guide, you can launch your own merchant service provider business and build a successful career in the industry. Remember to stay current with industry trends, provide excellent customer service, and continuously improve your skills to stay competitive in the dynamic merchant services industry.

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