Best POS System for a Small Business

This blog post breaks down the best POS systems for small businesses in 2024. It provides an in-depth look at the key features, pros and cons, and pricing of leading solutions like KORONA POS, Toast, Shopify POS, and Clover.

Whether you run a retail store, restaurant, or service-based business, this guide will help you identify the ideal POS system to manage your sales, inventory, employees, and customers efficiently.

Use this valuable resource to find the right POS platform that will provide the functionality your business requires.

1. KORONA POS: Best for Small Retail Businesses

Key Features

Processing-agnostic: KORONA POS is compatible with any major payment processing solution, offering the flexibility to integrate with your preferred merchant service provider without being tied to specific rates imposed by the POS company.

Robust inventory feature: KORONA POS features robust inventory management features, enabling you to analyze and recalculate ideal reorder levels based on purchase history, seasons, and trends. It can import vendor shipment notifications, alerting you to any missing products, and supports barcode scanning, container quantities, and special pricing for efficient inventory management.

Free built-in gift card module: With KORONA POS, you can take advantage of a free built-in gift card module, allowing you to create personalized gift cards representing your brand and appealing to your customers without incurring additional charges once you’ve subscribed to the monthly plan.

Robust eCommerce capacities: KORONA POS offers robust eCommerce capabilities, with web hosting and maintenance handled for you while providing simplified site management for managing products and marketing tasks. It enables seamless inventory syncing across all locations, allows customers to shop for products at the nearest or other locations, and offers pre-built, mobile-friendly themes for integrating your branding and marketing.

Seamless integration features: KORONA POS seamlessly integrates with WooCommerce for online store owners, Quickbooks and Bookkeep for accounting, and Bottlecapps for wineries and liquor stores, among other third-party software solutions.

Countless reporting and metrics: KORONA POS provides countless reporting and metrics features, breaking down sales metrics in a digestible way to help you identify areas for improvement. It offers vast key performance indicator reports for a comprehensive view of your business’s health, slow seller reports to identify stagnant products, and notifications to assist with maintaining optimal stock levels.

Pros

• Free trial
• Perfect for multi-location retail businesses
• Flat Rate with No Contracts
• Excellent customer support
• Online resources

Cons

• Limited customization
• Steep learning curve
• Weak mobile app

Pricing

KORONA POS offers a range of pricing plans:

• KORONA Core plan for $59 per month
• KORONA Retail at $69 per month

Additionally, KORONA POS provides optional additional module packages for further customization. Click here to access the full pricing plan of KORONA POS.

2. Toast POS: Best POS For Small And Mid-Sized Restaurants

Key Features

• The kitchen display system: (KDS) facilitates seamless communication between the front-of-house staff and the kitchen crew, ensuring that orders are promptly relayed to the kitchen for preparation as soon as guests place them.

• Toast mobile order & pay: It empowers guests to conveniently browse the menu, place orders, and make payments directly from their mobile devices by scanning a QR code. Moreover, the integration of Apple Pay allows for a rapid checkout process, taking less than 10 seconds.

• Self-ordering kiosks: This feature enables guests to independently place orders and customize their meals according to their preferences. These orders are transmitted directly from the self-service kiosks to the kitchen line.

• Toast delivery services: It provides restaurants with the capability to dispatch local drivers through an on-demand network to fulfill delivery orders. This service also offers contactless delivery options, ensuring a safer experience for customers and drivers.

• Toast payroll & team management: This feature is an all-in-one platform that streamlines the hiring and onboarding process for employees. It also simplifies team management by consolidating employee timesheets, scheduling, and HR functions within a single interface.

Pros

• No setup fee
• Easy to use
• Robust inventory tracking
• Intuitive menu setup

Cons

• Poor quality of hardware
• No free trial
• Issues with card reader for the magnet swipe

Pricing

• Quick start bundle: $0 with very limited features
• Core: $69 offering cloud-based point of sale with mobile dining solutions, reporting, and analytics
• Build your own: Custom pricing with guest marketing, loyalty, and gift cards

3. Shopify POS: Best for Online Merchants

Key Features

• Omnichannel selling: You can sell across multiple channels, including your physical store, online store, and social media platforms. Manage inventory, orders, and customers across all channels from a single platform; Offer features like buy online, pick up in-store (BOPIS), and ship from the store.

• Inventory management: Track inventory levels in real-time across all locations. Get low-stock alerts and automatically reorder products. Manage product variants and serial numbers.

• Checkout: Process sales quickly and easily with an intuitive checkout interface. Accept various payment methods, including credit cards, debit cards, cash, and gift cards. Offer discounts, promotions, and coupons.

• Additional features: Businesses can leverage the Shopify POS app on their iPad or iPhone to sell anywhere. Moreover, the hardware can accept payments securely with Shopify payments or other third-party processors. You can use it to promote your products and reach new customers with built-in marketing tools.

• Reporting and analytics: Shopify offers a lot of data to small businesses. You can get detailed reports on sales, inventory, customers, and staff performance. Track key metrics and identify areas for improvement.

Pros

• Free trial
• Robust mobile POS
• Seamless integration with the Shopify ecosystem
• User-friendly interface
• Comprehensive features

Cons

• May not be the best for businesses without an online store
• Relatively high transaction fees
• Limited customization

Pricing

• Basic: $32 USD/month, ideal for new businesses and entrepreneurs starting out with online selling.
• Shopify: $92 USD/mo ideal for growing businesses with more complex needs.
• Advanced Shopify: $299 USD/month; Ideal for Established businesses with high sales volume.

4. Clover: Best For Service-Based Businesses

Key Features

• Virtual terminal: With that feature, you can accept credit and debit card payments directly on any computer, tablet, or smartphone. You can request customer payments by email and allow customers to pay you online. It handles in-store, mail, phone orders, and invoices, providing a centralized transaction dashboard.

• Email invoicing: You can send simple invoices to customers via email and allow them to pay you online with credit or debit cards. This feature is included in the Clover Virtual Terminal service plan.

• Streamline payment processing: You can accept credit cards, debit cards, gift cards, and contactless payments like Apple Pay, Google Pay, and Samsung Pay. Process transactions in-store or on-the-go with a complete point-of-sale system.

• Diverse integration capacities: You can integrate with best-in-class POS apps like Yelp, Time Clock, or Payroll. Sync with services like Quickbooks and Woo.

• Employee management software: Clover offers a feature called Time Clock allows you to schedule, manage, and pay employees in one place. You can manage your team anytime, anywhere. Send shift reminders to reduce no-shows and late arrivals. Monitor labor costs, budgets, and real-time sales.

Pros

• User-friendly & intuitive
• Strong integration capabilities
• Eye-catching Hardware design

Cons

• Dashboard is a little difficult to navigate
• Poor customer service
• No free trial

Pricing

Here’s a general breakdown of Clover POS pricing:

• Monthly software fees: These range from $0 (for a limited-time trial) to $135 per month, depending on your industry and plan.
• Transaction fees: These range from 2.6% + 10¢ to 3.5% + 10¢ per transaction, depending on the card type and whether the card is present or not.

How To Choose The Best POS Small Business For Businesses?

Identify business type:

• Retail: If you run a retail store, consider a POS system with inventory management features, barcode scanning, and integration with an eCommerce platform if you sell online.
• Restaurant: For a restaurant, choose a POS system that supports menu customization, table management, and order tracking.
• Service-based: If your small business is service-oriented, focus on a POS system that allows for appointment scheduling, invoice creation, and easy payment processing.

Ease of use:

• Look for a system that is user-friendly and doesn’t require extensive training for your staff. A complicated system might lead to errors and slower transactions.

Hardware compatibility:

• Ensure that the POS system is compatible with the hardware you already have or plan to use. This includes receipt printers, barcode scanners, and card readers.

Payment processing:

• Choose a POS system that supports multiple payment methods, including credit/debit cards, mobile payments, and contactless transactions. Compare transaction fees and processing rates from different providers.

Integration with other software:

• Check if the POS system integrates seamlessly with other software your business uses, such as accounting software, e-commerce platforms, or CRM systems.

Customer support:

• Reliable customer support is crucial. Ensure that the POS provider offers responsive customer service to address any issues promptly.

Security features:

• Security is paramount, especially when dealing with customer payment information. Choose a POS system that complies with industry standards for data security and offers features like encryption and user authentication.

Cost:

• Evaluate the total cost of ownership, including initial setup costs, monthly fees, and transaction charges. Compare pricing plans from different providers and choose the one that best fits your budget.

Best POS System for a Small Business: FAQ

• What is the best POS system for a small retail business?

There’s no single “best” POS system for a small retail business, as the ideal choice depends on your specific needs and budget. However, some of the best POS small businesses you could explore include KORONA POS, Square POS, Touchbistrot, and Toast POS.

• Is there a POS system for small businesses without monthly fees?

Yes, a POS like Clover offers a free monthly fee depending on the verticals. However, most feature-rich POS solutions do charge monthly fees for advanced capabilities.

Best POS System for a Small Business: Conclusion

The best POS software for small businesses depends entirely on the type of business you run.

• KORONA POS is ideal if you own a retail shop, especially high-risk shops such as liquor shops, vape shops, convenience stores, etc.
• Clover is ideal for service-oriented businesses.
• Toast is good for restaurant owners with much more varied menus.
• Shopify is ideal for online businesses.

If you’re looking for a POS software system for your retail business, then KORONA POS is the solution you should explore first. Whether it’s a thrift store, a furniture store, a bakery store, or a coffee shop, KORONA POS caters to all these stores. It’s also ideal for museums, businesses with ticketing needs, and fast-food outlets. Click above to book a demo and find out how the software works.