Renting an EPOS System
You can rent an EPOS system from as little as £24.99 per month. For this price, most companies will install a basic system, consisting of one till and basic hardware and software components. The most advanced EPOS systems can cost as much as £170 per month depending on the supplier, so it is important to compare different options and find the system that is right for your business.
Most EPOS providers offer both rental and purchase options. The obvious advantage with a rental contract is it frees up your cash flow so there is no need for a large upfront cost. But there are many other advantages too.
Benefits of Renting
There are various benefits to renting an EPOS system that may make it a better option for your business than purchasing a system outright. These include:
- No large upfront payments to be made.
- Payments are usually fixed and tax deductible.
- The supplier will take care of any repairs that are needed.
- System software upgrades are usually included in the rental contract.
- Deals are available with no minimum contract term.
- It is easier to make regular upgrades to the latest EPOS hardware and take advantage of the latest technology.
- Rent to buy contracts available from some suppliers, allowing you to spread the cost over a longer period if you do want to own your EPOS system at the end of the rental contract.
The benefits of EPOS rental or lease are not just monetary. Apart from the advantage of not having to invest a large sum of money into the purchase of the system, there are added benefits such as warranties for the term of the lease.
This means that if any part of the hardware breaks, the supplier will fix it straight away and at no extra cost. Often, system upgrades of hardware and software are also included in the hiring costs.
It is important to know exactly what you need from an EPOS system. Systems that are cheap to rent are usually quite basic, and often the cost of adding components to the rental or lease agreement can drive the cost up significantly. Being clear on requirements can help to find the right EPOS system for the right price.
Getting the Best Deals
Renting an EPOS system is very cost efficient, but make sure you know beforehand what functions you would like your system to have, such as kinds of reports, inventory keeping, portable PDQ machines, and number of tills. The more functions and additional equipment you require, the more you will pay for the total installation.
Certain industries, like the hospitality and restaurant industry, can tap into deals because they require a number of different features and portable devices. Check with your suppliers to see if you qualify for such deals, and make sure to ask about special offers.
Renting vs. Purchasing - Which is Better?
For most businesses it makes sense to rent and EPOS system, particularly at the moment when new technology is constantly being developed that is changing the way payments are taken and stock inventory is managed. There are of course some businesses who can make savings in the long-run with an upfront purchase, but if you want to regularly upgrade your EPOS system or plan to grow your business renting gives more flexibility and will actually bring costs down in the long-run.
If you do decide that purchasing is the best option for your business and a full-service EPOS system is a bit out of your price range, you can set up a lease deal with a supplier. Most leases run for about 18 months and some let you keep your EPOS system after that. This allows you to keep your cash flow free and balance your expenditures each month.
On the other hand, if you look for cash registers for sale you will usually find further deals and cost reductions. This is worth the added initial cost since you are able to do what you please with the hardware and software.
If you are interested in hearing more about tills and EPOS systems for sale or want to enquire about prices to hire a system for your business, simply fill out the form at the top of this page. You can compare quotes from several suppliers by filling in just one form to ensure you find the best system for your business.