Keeping track of your business finances is one of the most important tasks involved in running your company. For many years, retailers relied on the cash register to calculate and record sales. While this was an adequate system, today’s POS system can do so much more. When you’re searching for the best POS system for smoke shop, trust Lifelong POS by Lifelong Merchant Services.
POS Vs. Cash Registers
Businesses in America have used cash registers for retail sales since about 1888. With the invention of electronic calculators in the 1960s, manufacturers began producing electronic cash registers. In the 1970s, 2 events led to the development of the first POS system. First, technological advancements in lasers helped develop new tools to track inventory. Secondly, the adoption of the Universal Product Codes (UPCs) made it much easier to track products and manage inventory.
This early point of sale register was an improvement over the simple cash register. A POS register offered inventory management, sales reports, and credit card acceptance. However, transactions still had to take place at the credit card terminal. The next big improvement arrived in a cloud – software usage via the internet. Now, the point of sale is the place where you discover your customer, making transactions mobile.
Furthermore, as technology has advanced, so have the features of a POS system. Today these powerful systems can add efficiency and simplicity to running your business. Some common features include tracking key metrics:
1. Sales and profit margins
2. Inventory management and pricing strategies
3. Product information
4. Gathering marketing data on customers
5. Tracking coupon usage and rewards program
6. Managing employee time and payroll
7. Controlling information across multiple platforms
Perhaps one of the most important aspects of utilizing one of these systems is customization. The provider of the POS system can adapt the features and functions specifically to the unique needs of your business.
Choosing The Best POS System For Smoke Shop
Usually, running any company involves following licensing requirements and business laws. However, some businesses, like operating a smoke shop, are more regulated than other industries. Both state and federal regulations require accurate record keeping of suppliers as well as products purchased and sold. You’re also required to collect and remit sales tax.
Additionally, your smoke shop must follow age-restrictive laws on the sale of your products. Often, manual inspection of IDs can lead to errors. A POS system can ensure compliance with age verification laws with ID scanning technology, QR codes, or cross-referencing government databases.
Furthermore, tobacco products, like other natural merchandise, can go stale. As months pass, tobacco can lose flavor and freshness. Usually, old tobacco has an unpleasant taste. Moreover, selling products past their prime can negatively affect your business reputation. Thus, it’s crucial to keep track of inventories to avoid overstocking.
Of course, a POS system tailored specifically to your company can help you efficiently manage your inventory. Each time you make a sale, the system will automatically update quantities. Accordingly, you’ll know exactly when to replenish your stock. Moreover, POS software can keep track of multiple store and warehouse locations, making maintaining merchandise levels easier.
Lifelong Merchant Services Offer Powerful Features
Increasingly, more POS companies are entering the marketplace. With seemingly unlimited options, it can be difficult to sift through all the choices. Ultimately, you need a system that makes running your business easier.
Yet, the most important aspect of choosing a POS system is the support. The true worth of a POS company becomes evident later on when you have a problem. At Lifelong Merchant Services, we have an uncompromising commitment to customer service. Available 24/7, our dedicated team wants to ensure your business grows to its fullest potential.
Of course, our systems offer powerful features with an all-in-one POS solution customized to your unique business:
- Secure payment gateway that includes credit card processing and invoicing
- Loyalty program
- Customizable data reports
- Tracking and evaluating employee hours to organize schedules more efficiently
- Dual pricing to avoid credit card processing fees
FAQs About A POS System for A Smoke Shop
Sometimes, a certain industry will need specific merchant solutions to meet their needs. Finding the best POS system for smoke shop is one such example. Below, we answer a few commonly asked questions regarding these systems.
What Does A POS With Lifelong Merchant Services Cost?
Generally, there are 2 parts to any POS: hardware and software. The hardware consists of the physical components like the terminal, receipt printer, card machine, and barcode scanner. Software are the programs that run on a device to perform a set of tasks.
Generalized pricing can be so misleading when every business is unique. Each company will have different hardware and software requirements. That’s why we offer a free case study to show you how other businesses reaped the benefits of our services.
Do You Only Handle Smoke Shops?
No! We can supply any small business with solutions to give you the freedom to grow your business. Whether you have a brick-and-mortar store, e-commerce website, or mobile business, we can deliver the merchant services you need.
Can A POS Increase Revenue?
Most definitely! You can experience increases in productivity and accuracy as well as reduced waste. Moreover, you can manage one of the biggest challenges in retail, correct inventory levels. Some experts estimate retailers lose about 1.1 trillion globally for over or understocking their products.
Stop searching for the best POS system for smoke shop! Call us today at (678) 201-0911 to book a demo. We’d love to show you the power of a Lifelong Merchant Services POS system.
