If you are in Nigeria and are wondering how to start a POS business, the most important step is to have your own POST – POS Terminal. Thanks to fintech startups, there are so many portable POS terminals you can use to launch your POS business.
Simply put, POS business is electronic money transfer. You should have money in your bank account and cash to exchange with your customers before starting the business.
The three top POS terminals in Nigeria are moniepoint POS, baxi POS and kudi POS. Paycenter POS and Opay POS are also very famous in Nigeria.
POS system may cost up to eighty thousand Naira. But the good news is you can either pay in full and buy the POS or get it on lease. You should know that if you opt in for monthly payment you are definitely going to pay more.
You should have a shop before applying for a POS terminal. The reason is the vendor would need the address and location of your business. If you don’t have an existing shop, you can pair up with a shop owner.
If you have enough capital to invest into your POS business, you can rent your own shop or construct a small wooden kiosk before applying for a POS terminal. You will also rent a space to erect your kiosk. If you prefer setting up a kiosk, it is advisable to choose a portable movable kiosk.
Once you have your shop and POS system, the next step is to start transactions. But you must have a smartphone before you can begin the process of transaction. This is important because the software utilised for transaction must be downloaded.
Smartphones and apps used for transactions are very important to POS business. With the app in your smartphone, you can send and receive money and take commission.
You can create flyers and distribute them in the neighbourhoods around your shop or move around to inform shopowners and shopkeepers of your new POS business. They will not only help announce your business, they will also direct customers to your shop.
More information is available in POS business in Nigeria.