Square POS: All You Need to Run a Business

Square Features

Reports and analytics

In one system, you can keep track of all your sales, inventory, and locations; they have a dashboard that comes for free with your account and will give you a better insight into your business through reports. For example, you will be able to see all your transactions and how every invoice is going, manage your customers, and classify them into those who paid and those who didn't. 

This dashboard can be accessed from any computer so that you can stay up to date with your business. Over time it will build up a report to compare and help you see the changes it goes through. 
 

Inventory management

You will never run out of inventory since a daily email is sent to you that lists down any item you don't have available or is almost running out of stock. In addition, all the reports are downloadable and can be printed or exported at any time. 

They have several different inventory management software that you can sync your POS with. Software like SKU, IQ, Shopventory, and Stitch Labs.
 

Customization tools

You get to choose which features and tools are put in to help grow your business. You can track all your employees through this software's feature, like tracking everyone's working hours, setting schedules, viewing performances, paying employees, and so much more can all be done through integrating the Square Payroll. For an extra $35 per month, you can upgrade beyond the essentials and upgrade to a Team Plus plan. 
 

Hardware

When it comes to hardware, they offer their customers five different types: Square Reader for magstripe, Square Reader for contactless and chip, Square Stand for contactless and chip, Square Terminal, and Square Register. All the hardware devices come with a one-time or monthly fee; except the magstripe reader, it comes for free. You get the option to purchase any hardware you need, but you'll need an account to operate them.

Square's point-of-sale software runs on Apple iPads, it has an intuitive design that is easy to set up and use.
 

Customer service

This feature will show you all your customer's interactions with your business. You will get to see their info, like their name, email, and phone number. It will also check your products and how people respond to them; they classify the favorites, track purchases, and track customers' history. 

If you are working on your marketing strategies, you can use the data to categorize your customers based on their shopping behavior. You can then send personalized emails and text messages to bring in the right customers. Finally, for your frequent customers, you can start a loyalty program.
 

eCommerce

If you want to move your business, online Square POS can turn it into one, as they offer a free eCommerce website. You don't need a coding certificate to build your online store, as you can easily publish your site through them; you can also turn your social media platforms into a shopping site. 

They also accommodate a wide variety of businesses without having to pay a fee to customize each one individually. You can offer your customers so many options, such as shipping, pick up, delivery, and QR code readers.

A built-in SEO tool matches you with the right customers; there are so many engines you integrate with.
 

Payment options

Whichever way your customer wants to pay, Square has you covered.

Your clients will get to pay with 

• Credit Cards
• Apple Pay
• Google Pay
• Gift Cards
• Card on File 

In addition, all your customers will receive an invoice sent straight from your device into their inbox.
 

Square Prices and Plans

The basic Square POS plan has no monthly subscription. However, they charge for their services by taking 2.6% plus 10 cents of all transactions, whether they are tapped, swiped, or dipped. When there are no cards involved, the fee goes up to 3.5% plus 15 cents for every transaction made. With that said, there are some products they offer that have a monthly fee. 

When you get a Square's POS system, it comes with a free plan for restaurants and retail businesses, plus they add in a card reader for free. There are no hidden fees with this plan; what you see is what you get; there are no long-term contracts as well. If you are a relatively new business and trying to work with what you've got, then any Android, iPhone, or iPad device can be used as a POS system. Therefore, in the beginning, you won't have to put in a lot of money to use this system. 

You will have to use their credit card processor for any payments. Square processes fees at a fixed 2.6% plus 10 cents on each transaction; if they are paying online, it goes up to 2.9% plus 30 cents per transaction. This is a breaking point to decide whether or not to go with Square POS; if you prefer this all-in-one strategy, then this is a great fit; if you prefer to shop around for a different credit card processor, then you might want to consider a different POS.

For retailers, if you want to upgrade to the free plan, Square offers a Plus Plan. This plan costs $60 per location per month, and it includes inventory management and reports. In addition, if you are a retailer, you'll get a lower processing fee of 2.5% plus 10 cents per transaction. 

Restaurants get the same $60 per month per location, but they get an extra $40 fee per month per additional POS device. The processing fee remains the same, but you get to add features to your system related to your business, like seating management. 

If you are not ready to commit and want to try out their upgraded version first, Square offers a 30-day trial to see if it fits your business's needs. You can also opt for the premium plan; to do so, you need to reach out to their customer support to receive a quote. 

Any hardware you buy can be returned within a 30-day window, and they all come with a one-year warranty; except the register, it comes with a two-year warranty. 

The prices are great if you are a small business that is just starting out, especially if you are using your own devices. However, for higher volume businesses, the small processing fee soon starts to pile up quickly, and you might want to consider other POS with lower processing fees.
 

Conclusion

Square POS is a great choice for small businesses; all the added features and the basic functions will help manage and grow your business. If you are hesitant to change your current plans, you can always give them a shot for 30-days, and use their system on any device you have available.