Major factor to be considered before starting POS business.

btaliat

VIP Contributor
Point of sale business otherwise called POS is one of the latest businesses in town now especially in most African countries. The reasons for the increment in this business is not fsr fetched. The fact that most people don't want to stay long on the queue that always accompany banking system makes many people to opt for the new 'sheriff' in town.

However before one can venture into this business successfully, there are needs to consider some factors. These factors do detemine the success of the business and may prevent some imminent dangers that do associated with this business. Among those reasons and preventive measures include.

Citing the business far from home: someone that wants to engage himself in this kind of business must make sure that he doesn't situate the business near his house for security purpose. Most time, we do hear the case of thrives burgling the houses of some of these agents.


Citing far from banks or close to banks: if the business is situated in a high density area. It is okay. It doesn't matter there are banks near it or not. Some people may still prefer to use the POS because of long queue in the bank while some may use it because the banks are far.
 

Augusta

VIP Contributor
POS business to me is one risky business though lucrative if one finds a good enough location to site the business. But you have to be very careful or you lose big in the business. It is just unfortunate that some people leave their abodes and all they want to do is to burgle people business premises and cause them a high downfall.

Like you rightly stated no good thinking person should ever use his or her house as a POS business center because you would be inviting thieves to your house. They know that as a POS operator you would always have cash on you so you shouldn't make that mistake of letting know your house to avoid their destruction of the business.

Another problem is of people coming to deposit counterfeit money while you credit their account. Sometimes before you would have known what is happening, they would have used their card to withdraw the money from another POS center. And if this money was a big one then you lose big as you might not be able to travel the criminals.

So it isn't bad to start a POS business but you need to really apply caution or else you would money.
 

btaliat

VIP Contributor
I believe there is no business without its pros and cons. The only thing we need to do as a good business person is to make sure we do some feasibility studies and make sure we learn more about risk management. This will help us a lot. That's why I cited some of the things that we need to be doing. In fact, I don't even think we have businesses that are not risky. And the fact is that the more risky a business is, the more money it can fetch us. That's why it is still better to learn the risky sides of it to harness the profitable side of it.

I have heard the issue of using counterfeit money several times. In fact, I know someone that has been a victim of this. I have know someone too that was robbed at gunpoint just because of this business. This shows how lucrative and risky it is at the same time. But should we be bothered by all the negative things that these business is attached to?

No, we only need to be extra careful and make sure we are smart. We should be not be carried away with the bulk of the money to the extent that we fail to check well the originality of the money.
 

Ithedicious

Valued Contributor
Alot of people always consider this business to be a risky business. In most cases this is always true and at the same time it may not likely be a risky business depending on your location and all the necessary things you have put in place to carry on the business successfully. .

Even if I have to start up this business , the most important thing I will consider is just the location the location must be more secured . you can't start any business that deal with huge sum of money in a location of no safety . This is the mistake a lot of people have been doing and this expose them to armed robbers and dangerous people. Because of this I won't advise people to set up this business in a lonely location .

As we all understand , almost all business is likely to flourish perfectly in a highly populated area , it would be very difficult for armed robbers to attack you in a highly populated location and setting up this business in this location could really help you avoid so many things that could be as an entrance to the progress of your business .
 
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