How to be SUCCESSFUL & PROFITABLE in the POS Business by: Abiodun Olusola

 

1. Choose the right location. Pick a busy area with high foot traffic and limited ATMs or banks. This makes a big difference.

2. Always have enough capital to handle customer transactions smoothly. This is key. If I come to you today and you tell me ‘No cash', the likelihood of me coming around tomorrow is minimal.

3. Offer great customer service. It helps you build loyalty, retain customers, and maintain patronage. Remember, your happy customers are the lifeline of your business.

4. Be smart with charges. If possible, charge a lower transaction fee than your competitors. But if that’s not possible, never charge more than them. You will lose your customers.

5. Use a reliable POS provider with low charges and a stable network.

6. Manage risks wisely. Protect yourself against fraud, theft, and cash shortages. Always prioritise safety. One mistake might mess up the whole thing for you.

✅ The truth is, if it’s done strategically, a POS business can generate steady daily income from which you can diversify later on.

If you like this update, feel free to share with someone that has thought of starting a POS Business.

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