What is a point-of-sale system?
The primary goal of running a business is to make sales. For ages making that sale has revolved around the cash register. However, today’s business owner needs more than a simple register to complete transactions. Your business needs a multi-channel hub to make sales in-person and online, manage cash flow, and manage inventory.
In fact, the modern point of sale (POS) needs to do even more. It needs to be a complete retail management system.
Your business may need capabilities such as:
- Inventory Management
- Special Orders
- Issuing Of Purchase Orders
- Integrated Vendor Catalogs
- Barcode Label Creation
- Sale Reporting
- Rental Management
- Work Orders
What are the special needs of your business?
No matter the strength of any POS solution. You first need to evaluate the needs of your business. You should consider the specific needs of your industry and particular tools your business needs.
Here are a few items you should consider:
- Do you need an integrated solution that synchronizes inventory in-store and online?
- Do you want a POS that will scale with your business and support multiple users without additional costs?
- What is the frequency or schedule for updating software?
- Will the developer provide ongoing support and user training?
- Will the software provider give me the details of a clear plan and support for data migration?
- Does the software support multiple locations?
Generic Businesses vs. Specialty Retailers
There are many generic POS software solutions available, but does your industry have special needs? Many music retailers have very specific needs and need a software solution that can handle the idiosyncrasies of your business, such as scheduling repairs, processing instrument rentals, and managing lessons.
You need to take the time to learn the special needs of your business. There are targeted POS solutions for many types of businesses. You must find the POS that meets your needs.
If you have ever used a generic POS solution and asked yourself, “if only I could…”, you know that one size does not fit all.
Music Shop 360 has worked with industry experts to design a solution that handles the quirks of your industry. Specialty retailers have unique retail businesses and need specific tools. Don’t be afraid to talk to an expert and learn about what we have to offer. If you have a point-of-sale problem you have been trying to overcome, we have likely thought long and hard about it and have a solution that will save you time, money, and headaches.
You make sales in-person, online, and more.
Today’s marketplace doesn’t solely exist inside the walls of your store. You may sell in your shop, online, on social media, and at remote events. You need to be able to sell how, where, and when you want. But how do you keep track of your inventory across so many channels and in real-time?
You need to decide if a point-of-sale system that works across channels is an important consideration for your business. Even if you just need a website for your business, which many would consider the minimum, it must be able to solve inventory management problems, not create them.
These are some of the questions you may want to consider:
- Does the website seamlessly integrate with your POS system?
- Will the system send notifications for website orders?
- Will it offer suggested products on product pages?
- Will the system calculate standard and custom shipping charges?
- Can you increase interactions and sales with marketing and text communications?
Tell your customer where and when to buy.
Every business needs to make sales, but what differentiates one business from another is its ability to communicate and connect with customers. Successful business owners understand that when you tell customers about your products and services and ask them to make purchases, they will.
If your POS is truly a hub for running your business, an important capability to include is marketing. When in-store sales, a full eCommerce website, and robust marketing functions are integrated, specialty retailers will have the ability to boost sales.
What are the marketing tools you need to grow your business? Below are some questions you may ask yourself when evaluating a POS marketing system.
- Can you engage customers more often with built-in email and text message marketing?
- Can you add a gift registry to your website?
- Does the POS allow you to accept and sell gift cards?
- Will you be able to accept and generate coupons to boost the results of marketing efforts?
- Can you create kits and product subscriptions to generate recurring revenue?
Know what is going on in your business.
Another important function to look for in POS is reporting. Meaningful and insightful reports enable you to make important decisions about how to proceed. Unless you have facts to make strategic business decisions, you’ll just be guessing.
Some reporting functions you should look for from a POS are:
- Can I see inventory history as an overview of all inventory?
- Will I be able to identify product trends and favorites?
- Does the system allow me to monitor marketing efforts and campaign redemptions?
- How will I be able to track inventory orders, turn, and depreciation?
- Can I visualize sales data and commissions?
What do you do now?
Music Shop 360 has built a POS system specifically for your type of store. We have designed POS, website, and marketing tools together into one seamless system to help streamline operations and increase sales
Music Shop 360 can help you get your products online with a website that seamlessly integrates with your POS system. The Music Shop 360 POS system will also keep your inventory in sync across in-store and online sales with an integrated POS and website and engage your customers more often with built-in email and text message marketing.
Music Shop 360 can help you by allowing you to auto-fill product data using our catalog of millions of pre-populated products. In addition, you’ll be able to manage quilt shop functions with tools built for pre-cuts, kits, and fractional yards. We also know that classes are an important part of your business. You’ll be able to increase class signups and attendance with online class registration and text reminders.
For sewing businesses, you can also use built-in tools to track the full history of all serialized items and increase service revenue with machine service reminders. Simplify your service and repair tracking with a user-friendly Work Orders tool.
The system enables you to know what is going on in your business. The Music Shop 360 system has a powerful reporting suite, and with it, you can find any data you might need for your business needs. The system reports allow you to filter and view data for specific dates or ranges of dates and transaction types.
It may seem overwhelming, but it is an important business decision. Rest assured that there are experts ready to help. Jump in and start doing your homework. Evaluate your needs and check out a few reputable providers. You’ll be able to find a solution that meets your needs.
Visit Music Shop 360 for more info on choosing a POS System.