If You're A Struggling POS VAR, Read This Now
By The Business Solutions Network
The April issue of Business Solutions should have hit your mailbox last week. In that issue is an article entitled "(Re)Birth Of A POS VAR," which does a great job of addressing much of what's happening in the POS channel today. POS of Michigan, the article's focus, is pretty much a start-up headed by three partners of various ages and backgrounds. The company's business model has been designed to generate recurring revenue and, in part, fund the elder partner's near-term retirement.
Indeed, because the company was built from the ground up, and didn't morph into its current state like the majority of POS dealerships, the trio of owners have built a unique business -- at least as far as the POS industry is concerned. It's goal is to earn 40% of its gross sales from recurring revenue sources. Currently, the VAR offers:
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- A managed service/support program with PCI items baked in
- A mobile loyalty app from Sundrop Mobile
- An online ordering app
- Remote monitoring for maintenance and backup
- Payment processing services
- POS hardware and software rental services
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If you're a struggling POS VAR or looking to fund your retirement, all of the above services should be on your line card. With margins on hardware all but disappearing, it's services that will not only keep your business alive, but potentially be your cash cow for your retirement.
Related Articles:
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Why The 'As A Service' Model Changes Everything
What POS VARs Need To Know Regarding Payment Processing
A POS VAR's Guide To Loyalty