POS business is very lucrative but very risky. Cash handling in any business is a huge risk and should not be left to chances.
The losses that these businesses suffer are due to two major reasons:
- Poor recordkeeping
- Not balancing the books daily
- Carelessness on the part of the business handling the services
These 3 reasons result in massive losses if not well-managed.
You should not just start a POS business by getting the device, employ a staff, get a location, raise some cash and jump into it.
Capital NO!
You should train yourself and your staff to avoid any losses.
If you don’t train a staff, don’t blame them.