Week-2 || Share a small business idea for new entrepreneurs.

✅ Share a small, stress-free and profitable business idea for new entrepreneurs..

The POS business is a value added reseller who acts as a facilitator for banking services, taking such services closer to the people which benefits both the bank customers and the bank.

The POS business offers to the public most of the banking services like:

• Depositing cash
• Withdrawing cash
• Making a balance enquiries
• Transfers to one or more accounts
• Opening a bank account

This takes away the need to go to the bank as the service in now available nearby and it is more assesable.

Contact the bank and register your request to offer its costomers this services at a renote location, its like creating a functioning branch for the bank that offers some of the ofter required services at a small fee for the banks numerous customers at a distant location.

Benefits to the bank

• Their services is more accessible to its customers.
• The number of customers they attend to at the bank is reduced.
• The bank only handdles matters that can not be sublet.
• The banks need for costomer care staff is reduced.

Benefits to bank customers

• The bank is now closer to you, cutting the transpotation.
• You don't have to carry money on you, you can withdraw close to where you are about to use it.

✅ Which location would suit them best for the business and how much money can they start with?

_{Any place with foot traffic is good for the POS business}

Prefered location
A sutable locations for this business is close to a local market, such that people can withdraw money for their transaction in the market.
The POS business also thrive at locations that are distant away from the bank, such as villages and settlements that do not have the banking services.
Any location with a high foot traffic will b good.

Financially, you will need the following as capital for the business

Particulars	in Naira	in Steem
One POS machine	25,000	85.32
Some Liquid Cash	50,000	170.64
One POS kiosk	50,000	170.64
One Plastic chair	5000	17.06
POS Thermal Paper	500	1.71
Total	130,500	445.91

✅ What are the possible benefits and disadvantages of this business?.

The POS business provides a good income stream and can run everyday of the week as long as people make transactions and need physical cash to but food and pay for services.

The charge range from 250 to 300 Naira for every 5000 Naira deposited or withdrawn from a POS unit

Service	charge in Naira	in Steem
Withdrawal of 1000	100	0.338
Withdrawal of 5000	300	1.02
Deposit of 5000	250	0.85
Transfer of 5000	500	1.69
Balance enquiries	50	0.14

With an average of 5 Withdrawals of 5000, 5 deposit of deposits of 5000 and two transfers of 5000 a day, this business will make 3,750 Naira (@ 285 per Steem that will be 3.16 steem a day)
At the end of 30 days, it will make 394.7 Steem.

So you can get back your capital in a month.

_{Pixabay Image}

✅ If you have already seen this business, share it with a picture of what it might look like.

Yes i have seen the POS business, i am planning to start one. I will not need a kiosk because i will do it in my shop.

I have used pictures of POS kiosk in this post and here are a few more.

Attending to a customer at the POS kiosk.

Invitation and contest link

I am inviting @@@oasiskp, @manuelhooks and @kesybliss. Here is the link to the contest
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