Pos business in Nigeria is a very profitable business in Nigeria. In this post, we’ll give you some insights on how to start a pos business in Nigeria.
If you are looking for a business to start offline in Nigeria in 2022, you can consider starting a pos business.
If you reside in a community where there is no bank around, then you can make good money if you start a pos business in that area.
What is Pos
Pos also known as point of sale is a machine / electronic device used to do some transactions which includes banking transactions. It’s generally accepted for money transfers and withdrawals.
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How to start Pos business in Nigeria 2022
Below are the steps on how to start pos business in Nigeria
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Make sure to have an existing business which you’re doing
You have to ensure that you have an existing business which you’re doing before going into this point of sale business. You need to have some good capital before you can start.
Infact, it’s one of the business you can start with 200k or above. So ensure to have a currently running business because you need enough money for running a pos business.
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Go to a bank and get their requirements
Now, you’ll need to go to any bank of your choice and get their requirements for pos application. You will need to fill a form for that. You’ll also need to submit your national ID card and other documents required by the bank.
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Get the equipment needed for your business
So, after your application is considered and approved, the bank will provide you with the equipments you need, both the pos machine and it’s accessories. Once you get them, that means you are set for business.
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Get a shop for your pos business
If you want to make more money from your pos business in Nigeria, then you should locate your shop in an area where no bank or ATM machine is present.
In most cases, you’ll not spend much money on your shop structure unless you want to open it in a bigger way.
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Start rendering your Pos services
Once you get a shop for your business, you can now start rendering pos services which includes, money transfers, withdrawals, deposits, etc.
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Is pos business in Nigeria profitable?
Yes, this business is a very lucrative one, especially when you’re located in an area where there is no bank or atm machine. If you’re planning to start a pos business, then locate where there is no bank and atm machine.
Also read : 4 basic things you should do when you’re opened for business.
Conclusion
Starting a point of sale business in Nigeria is a very lucrative one. People will always patronize you because of the usual queue in the ATM stands.
Related post : Soft drink manufacturing business plan and how to start soft drink manufacturing business.
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