₦airaland Forum

Good day beloved nairalanders.Pls I need ideas on how much it cost to set up a POS business and how profitable it it.Thanks.

You would need like 150_250k to set up depending how you want to set up.
You need a stand or kiosks in a very nice location with high traffic of humans
Then you need to get a reliable POS from a bank or any FinTech outlet
Then you need capital of like 100-150k for withdrawal demands.
It is capital intensive but you can always start small,mind you it is not as profitable as it was during the lockdown but you can still make it.
I forgot to tell you,it's a very sensitive business,one extra zero to a figure can send you into big debts that you might not recover from anytime soon
The security aspect of it is also there.threat of theft, dubious customers and overzealous staffs
Just be careful

BenGurion10:
You would need like 150_250k to set up depending how you want to set up.
You need a stand or kiosks in a very nice location with high traffic of humans
Then you need to get a reliable POS from a bank or any FinTech outlet
Then you need capital of like 100-150k for withdrawal demands.
It is capital intensive but you can always start small,mind you it is not as profitable as it was during the lockdown but you can still make it.
I forgot to tell you,it's a very sensitive business,one extra zero to a figure can send you into big debts that you might not recover from anytime soon
The security aspect of it is also there.threat of theft, dubious customers and overzealous staffs
Just be careful

Thanks but how is the profit from each withdrawal.like do bank have their charges from what you charge customers?