Today, we will talk about the cheapest POS Machines in Nigeria. Most POS vendors in Nigeria have a very little shop that costs low rent. Some POS vendors do not even own a shop. They simply set up a large umbrella with a bench or use other people’s shops. If you do it well, POS businesses are one of the best business ventures in 2022.
This article talks about how you can start a POS and the best POS machines in Nigeria. The best POS machines in Nigeria are the ones that give you more money when you use them. It is well known among POS operators that the type of POS you use determines how much you will make.
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Table of Contents
What is a POS machine?
Many people confuse the meaning of POS while some people do not know it at all. Most people simply call a POS machine POS.
A POS machine is a device that is used for making online business transactions. The full meaning is Point of Sales.
Why is it Point of Sales?
It is because a POS machine is meant to be used for payment in shops and supermarkets or whenever you need to pay for anything. In order words, the true function of the POS machine was to help business owners. It is used for customers who wish to make payments with their credit cards and have no cash.
However, POS machines have been used to start a most profitable business, the POS business. There are some people who make more than hundred thousand naira monthly using POS machines. To alleviate poverty and reduce unemployment, some organizations and even banks give free POS machines to youths who want to start a POS business. Many banks offer POS machines at free amounts or very low rates. Even if you own a business and you have a POS machine, you can earn additional income by operating the POS machine and using it for business.
How do you make money with a POS machine?
You get money in your POS business whenever you make transactions on your POS machine. I know a guy who built a big shop just to run a POS business. He charges lower rates to customers so his shop is always full and he makes over 10,000 naira daily from his POS business. Whenever people withdraw money, you add to the amount as charges and you collect them.
Doing this plenty times in a day will bring you a lot of money. In a month, you could also make over a hundred thousand naira.
What do I need to start POS business?
In order to start a POS business, what you only need is your starting capital. If you cannot afford a shop, you consider other options.
However, the question is can you afford to open a shop when you will be doing only POS business? If you cannot, keep reading.
Stay with someone who has a shop
This is also common. You can ask someone with a shop for a little space so you can start your POS business. It is a mutual relationship because both of you will gain from it.
Get a large Umbrella
Huge umbrellas can stand as shops for you. All you need are a few chairs, a bench, a table and your POS stand is ready.
How much is needed to start a POS business?
The minimum advisable starting capital for a POS business is N50,000. With fifty thousand naira, you can run the business for hours. However, if your clients begin to increase, you have to increase you capital. It will be better if your capital is more than N100,000. Most POS operators in Nigeria do not have up to N150,000 as their capital, and whenever people want to withdraw huge amounts of money, they cannot deliver.
The best POS machines in Nigeria as voted by POS vendors are:
Opay POS machine
Firstmonie POS machine
Moniepoint POS machine
The three POS machines mentioned above are the best POS machines in Nigeria.
What is a POS Terminal?
A POS terminal is just a place where a POS vendor uses for his business. POS terminals are points where POS machine operators use.
How do I start a POS business?
The best thing to do when starting a POS business is to go to an area where there are no ATM machines. The secret of making sales is making yourself available where your services are needed. Get a POS machine and get a place to use for your POS business.
Do not stay close to a place where there is another POS operator, it is not very advisable. You may get reduced sales and conflicts may arise. That way, you can start a POS business and make money from it.
In order to start a POS business, it is advisable to know the best POS vending companies, best POS providers, best POS machines in Nigeria, and the POS machines with high commission rates.
This article talks about the types of POS machines in Nigeria, how to get POS machines and how to start a POS business.