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You may already know that WordPress lets you schedule posts to publish at a later date, but did you know that you can also schedule posts to automatically unpublish after a set time period?
In a previous article, we looked at the best post scheduling plugins for WordPress. Depending on the nature of your content, however, you may also want posts to automatically unpublish after having served their purpose.
In this article, we look at practical ways to use expiring posts in WordPress and plugins that will help you automate this.
We’ll cover the following areas:
Here are 21 ways to improve your content and marketing strategy using expiring posts in WordPress:
If you run time-limited sales announcements, promotions, offers, or contests on your website, scheduling expiring posts lets you automatically remove or update those posts once the promotional period has ended.
Scheduling posts to automatically expire at the end of a promotional campaign ensures that visitors and customers are not presented with outdated offers or information, preventing confusion and avoiding disappointment, and helps to maintain your brand’s credibility.
For example, let’s say you have a retail store or an eCommerce website and are planning to run a week-long flash sale on selected items. You could create a series of posts promoting different products and schedule them to automatically expire at the end of the sale period, ensuring that customers only see your active promotions.
Scheduling expiring posts can be really useful if your business has seasonal products, services, or events.
Automatically expiring posts that contain seasonal content, such as holiday greetings, seasonal sales, or event announcements (e.g. festivals, growers markets, etc.) helps to keep your website’s content aligned with the current season and relevant throughout the year, and avoids showcasing outdated products or information.
This is not only useful for businesses that offer seasonal products or services, such as gardening supplies or holiday-specific decorations, but also seasonal offers or services.
For example, if you have a holiday-specific campaign, you can schedule the corresponding posts to expire once the holiday is over, saving you the effort of manually having to remove or update content every season.
Or, let’s say your client runs a travel agency and wants to showcase different holiday destinations throughout the year (or promote destinations that match discounted airfares from different airlines). They could create posts highlighting specific locations and set them to automatically expire once the corresponding season ends, keeping their website content aligned with the current season.
Setting expiration dates for event-related posts ensures that outdated event details are automatically removed, maintaining accurate and up-to-date information for attendees.
For example, if your company organizes events, you can schedule posts to expire after the event has taken place. This helps manage event-specific content, such as registration details, agenda updates, or speaker information, and ensures that your website stays relevant before and after the event.
Similarly, if your business organizes conferences, you could create posts promoting each session and speaker and then schedule these to expire after the session has taken place, ensuring that outdated session details are automatically removed.
Promoting exclusive deals or discounts by scheduling posts to expire when the offer period ends creates a sense of urgency for visitors and encourages customers to make timely purchases.
This is ideal for online retailers planning to launch a one-day or weekend sale with posts featuring discounted products.
By scheduling posts to automatically publish when the event kicks off and then setting the posts to expire at the end of the sale, they would not only create a sense of urgency but automate the entire process so they wouldn’t even have to monitor it (think of all those limited-time sales that end at midnight…you could be sleeping and still be making money!)
When you have important announcements or releases that need to be shared at a specific time, such as product launches, press releases, or scheduled events, scheduling expiring posts ensures that the information becomes available and expires automatically according to your desired schedule.
Scheduling your news articles, press releases, or industry updates posts to automatically expire when the information loses its relevance or becomes outdated after a certain periodĀ helps to keep your website current, maintains a current and accurate representation of the news landscape, and ensures that readers are always presented with the latest news stories.
Scheduling posts to expire after a product launch prevents outdated information about previous releases from cluttering your website.
If you are a technology company planning to release a new version of its software, foir example, you could create a series of posts providing information and updates about the upcoming release, then schedule these to expire shortly after the launch to prevent users from accessing outdated software details.
Displaying time-sensitive notices or alerts, such as maintenance notifications or temporary closures, that automatically expire once the issue or event has passed, ensures that visitors no longer see the closure notice.
For example, a small business could display a notice on its website about a temporary closure due to personal reasons (e.g. owners travelling overseas or a death of a key business team member), and schedule the post to expire once the business reopens.
Automatically expiring posts that are accessible only to members or subscribers after their membership or subscription period ends, encourages them to renew or upgrade.
A good example of this is where a membership-based website grants access to premium content for a specific subscription period and sets users’ access to posts and resources to automatically expire at the end of their subscription.
Controlling access to course or lesson content by scheduling posts to expire based on the duration of the course or availability of the material encourages students to progress through the course within a designated timeframe.
For example, an online learning platform could provide access to course materials for a limited duration with each lesson post scheduled to expire after a certain number of days.
Setting posts to expire when a contest or giveaway ends ensures that the information remains accurate and helps to avoid confusion for participants.
A practical use of this could be where a social media influencer runs a giveaway and promotes it through posts on their website. The posts are then scheduled to expire at the end of the giveaway, ensuring that participants can no longer enter after the specified deadline.
Automatically expiring and archiving posts that are no longer relevant or useful keeps your website clutter-free and ensures a better user experience.
For example, suppose your company blog features posts about past product releases. As new products are launched, the corresponding posts are then scheduled to expire and automatically move to an archive section, keeping the main blog focused on current offerings.
If you need to comply with specific regulations regarding the removal or expiration of certain types of content, scheduling posts to expire can help you meet those requirements.
An example of where setting posts to expire once a required duration has passed to ensure compliance with regulations would be where a financial-related institution publishes posts with legal disclaimers that must be displayed for a specific time period.
Similar to the above, you can automatically expire posts that contain time-limited legal disclaimers, privacy policies, terms of service, or cookie notices to ensure compliance with changing regulations.
For example, let’s say that an online service provider includes a cookie notice on their website. The post containing the notice can be scheduled to expire after the required consent duration, ensuring compliance with data privacy regulations.
You can also schedule posts to expire when downloadable files, resources, or documents are no longer available or have been updated.
Scheduling posts related to older versions to expire once new updates are released ensures that users access only the most recent and relevant resources and prevents them from accessing outdated information.
Plan ahead by scheduling posts to expire and automatically trigger updates or new content, ensuring a consistent publishing schedule and reducing manual intervention.
So, if you run a magazine-style website publishing articles on a weekly basis, you could schedule posts to automatically expire at the time of each new publication, allowing for seamless content updates without manual intervention.
Using expiring posts to test different versions of content or design elements by setting expiration dates lets you compare performance and make data-driven decisions.
For example, suppose you run an e-commerce website and want to test two different versions of a product description. You could create two posts, each featuring a different description, and schedule them to expire after a set period. You can then analyze the metrics and determine which version performs better.
Automatically cycling through a set of posts by scheduling them to expire and publishing new content allows you to create a dynamic and ever-changing website experience.
Suppose an art gallery website wants to showcase different artists. They could schedule posts featuring different artists’ works to automatically expire and publish new posts showcasing other artists, providing a constantly changing selection for visitors.
Encouraging regular visits to your website by regularly expiring and replacing content helps to entice users to return for fresh information and increased engagement.
An example of this would be where a lifestyle blog regularly features “Tip of the Week” posts. Each post is scheduled to automatically expire after a week, encouraging readers to return for fresh tips.
By scheduling non-evergreen posts to expire, you ensure that your website or blog remains up-to-date with fresh content. This is particularly important if you publish time-sensitive information, such as news, promotions, or event announcements on a regular basis.
Once a post expires, it can automatically be removed or replaced with new content, keeping your website content fresh and relevant.
Schedule posts to expire and be removed from your website’s public view to maintain a clean and organized content repository.
For example, suppose your blog includes guest posts or paid posts that are only relevant for a limited time. You can schedule guest posts to expire and be removed from your website after the agreed-upon period, keeping your content repository well maintained, clean, and focused.
Scheduling expiring posts allows you to plan your content publishing in advance. This can help streamline your content creation process and manage your editorial calendar more effectively.
By pre-scheduling expiration dates, you can focus on creating new content rather than constantly monitoring and manually updating old posts.
This is useful for businesses with news-like websites that follow an editorial calendar. They can schedule posts to expire according to the planned publication schedule, ensuring a steady flow of new content while seamlessly removing outdated articles from the website.
Here are some post expiration plugins for WordPress you can use to publish a post for a limited time and have your posts be automatically unpublished after the period has expired:
PublishPress Future (formerly Post Expirator) is a simple and easy-to-use plugin that not only lets you automatically unpublish posts, pages, and other content types in WordPress, but also delete your post, change its status, update the post categories, or make other changes.
With PublishPress Future installed, you can:
After installing and activating the plugin, you will see the plugin’s editor block (if using the Block Editor) or settings panel (Classic editor) when creating or editing a post, giving youĀ flexibility and control over when your content will expire.
Simply enter the date and time that you want your post to expire using the intuitive interface…
And choose what should happen to the post when it expires by selecting an option from the “Action To Run” section…
You have various options for future actions on expired posts.
For example, you can:
PublishPress Future gives you complete control of scheduling and managing post expirations via its extensive settings panel. A Pro version of the plugin is available offering additional features and support.
The PublishPress Future plugin includes the following additional features and functionalities:
Use the convenience of the plugin’s “Quick Edit” and “Bulk Edit” options to make changes to expiry dates. and manage a large number of posts.
Receive notifications when your posts are due to expire so you can stay informed about your content’s expiry and never miss a critical update.
PublishPress Future allows you to automatically show expiry or action dates within your articles. This feature adds a date stamp at the bottom of your post.
You can also use customizable shortcodes to display the expiration date inside your posts, tailoring the format to meet your specific needs.
The plugin not only lets you customize default expiry options for each post type within your WordPress site, but you can also configure default expiry settings for all of your content.
The Pro version of the plugin offers additional functionalities, such as moving posts to a custom status upon expiration and keeps a comprehensive log of all changes made to your posts.
WP-CRON is a built-in feature of WordPress used to schedule recurring tasks, such as publishing scheduled posts or processing queued tasks in plugins.
PublishPress Future uses custom cron jobs to execute expiration events efficiently, reducing server overhead for busy websites. To fully leverage the plugin’s capabilities, make sure that WP-CRON is properly set up and functional on your web host.
More details: PublishPress Future
Note:Ā When using plugins that require WP-CRON, it’s essential to monitor the performance and resource usage of your site, as WP-CRON can consume significant resources when running heavy or frequent tasks.
If you notice performance issues, you may need to optimize the plugin settings, offload tasks to external services, or use a real server-side cron job to improve efficiency and prevent performance degradation on your hosting account.
If your sites run on WPMU DEV hosting,Ā rest assured that any WordPress plugins that require WP-CRON will run just fine.For the best experience running plugins that require WP-CRON functionality, consult the WPMU DEV support team to ensure your website is running optimally on your selected hosting plan.
Auto Post Expiration is another plugin you can use to easily set expiration dates for your posts in WordPress.
With just a few clicks, you can schedule posts to automatically change to “draft” status, ensuring they are no longer visible on the front end of your site.
Key features of this plugin include:
The plugin provides an intuitive feature that lets you easily select the desired date and time for your posts to expire and transition to the “draft” status.
Auto Post Expiration shows the expiration date and post status directly in the admin column, making it easy to stay organized and keep track of when posts are scheduled to expire.
The plugin seamlessly integrates with the block and classic editors, so you can use your preferred editing interface when creating or editing posts.
The plugin also offers a Pro version that lets you unlock advanced features, such as setting expiration dates for single posts, pages, products, and custom post types, WooCommerce Support (set expiration dates for your WooCommerce products), and email notifications for Admin.
More info: Auto Post Expiration
Hopefully, this article has inspired you to use expired posts. Auto expiring posts can help you streamline your content management processes, control the lifespan of your content, and keep your website current, fresh, and relevant to enhance user experience.
For complete WordPress automation, consider becoming a WPMU DEV member. Our all-in-one WordPress platform is ideal for web developers and agencies and includesĀ robust site management tools and Pro plugins that will automate all aspects of your WordPress sites.
FedEx is a multinational company focusing on providing shipping, transportation, and printing services to businesses of all sizes. With FedEx, you can ship and track customersā orders seamlessly and create a successful ecommerce operation.
With additional products in logistics, development, and cross-border solutions, FedEx ensures you can deliver your products to customers reliably and affordably. Letās dive into the highlights and areas for improvement for this provider of ecommerce fulfillment services.
FedEx did not make it onto our top list of the best ecommerce fulfillment services, even though it is still a decent (and popular) option. ShipBob is, in our opinion, the best option for a wide range of business and web store owners because of its deeper order management features and express two-day shipping availability. Request a quote from ShipBob today for free.
FedEx offers comprehensive ecommerce shipping and printing services for businesses of any size. Whether you need to reduce shipping costs, send out more packages each day, or give your customers a better turnaround time on their orders, FedEx aims to help you make the most of your ecommerce operation.
Alongside FedExās ecommerce fulfillment services, its other offerings include a design and print marketplace, compatible business software, a developer portal, logistics tools, and cross-border solutions.
FedEx was founded in 1973 as a publicly traded company with its headquarters in Memphis, Tennessee. As a multinational corporation, FedEx has multiple investments, including two diversity investments, which raised more than $175 million. However, FedEx only has one main investor, which is Matrix Partners.
As of 2023, the FedEx corporation has more than 600,000 team members across all its global operating companies. With a 3.7-star rating on Glassdoor, most of FedExās employees are satisfied with its work-life balance, career growth opportunities, and salary.
FedExās main price point involves shipping costs, which is calculated depending on global clearances, packaging, order size and weight, and other considerations.
There are a lot of variations in pricing across FedExās products and its shipping rates are based on several factors, including freight length, weight, fuel, and delivery area. That makes it hard to ballpark pricing for ecommerce fulfillment, since so much depends on what youāre shipping, where youāre shipping it, and any necessary extra considerations like delivery speed and insurance.
However, offerings like its printing services are more predictable. Printing services are priced on a number-per-order basis. For example, you can purchase 100 custom business cards for $10 or get 100 custom-printed ear-lock mailers for your products for $146.
Most ecommerce fulfillment companies base their pricing on order weight and delivery area, just like FedEx does. For FedEx, if a shipment is greater than 12 feet, you will have to pay a starting fee of $600 per shipment, which increases to $1,200 for any order with a dimension of 20 feet or greater.
Compared to other ecommerce fulfillment services, FedEx is certainly pricier. For example, ShipMonk bases its pricing on how many orders you will ship per month, and prices start at $3.00 per order for 500 or fewer monthly orders. ShipMonk also has additional fees for promotional inserts, extra items, and return processingābut the fees start at just $0.20.
On the other hand, you can find fulfillment services that are even more affordable, such as Easyship. Easyship offers a full plan with 50 shipments per month and one team member entirely for free. Or, you can decide to pay a monthly price of $29 to get 500 shipments allowed per month.
FedEx doesnāt currently offer free trials of its services, but it does have a money-back guarantee on select FedEx services for domestic and export shipments.
FedEx stands out for its massive reach and shipping capability, with ecommerce fulfillment service that can integrate with your businessās other software and ship your products across the entire globe.
You could benefit from FedExās ecommerce fulfillment platform if you are looking for a reliable service that can handle shipments to nearly anywhere in the world. If you want to scope out other excellent alternatives, check out our reviews of the best ecommerce fulfillment services.
Seamless returns process: FedEx ensures that if your customers need to return a package, they can do so with ease. There are three options for returns, including dropping off a package at one of 60,000 Drop Box locations, showing a FedEx QR code to a retailer and receiving a printing label in an instant, or creating a shipping label through FedExās website. FedEx also offers support for all returns, such as professional packing assistance and in-person service at all FedEx locations.
Delivery manager: If you want to make the delivery experience easier for you and your customers, FedEx offers a delivery manager business toolkit that can help you do just that. The toolkit can offer support that will help you save money by reducing the potential for missing shipment claims, ensuring more packages are delivered on time, and offering automatic delivery notifications, including photographic proof of delivery.
FedEx rewards: FedEx offers a comprehensive yet flexible rewards program that can help small business owners save money. New members can receive monthly bonus offers, earn rewards from big retailers, or request a refund or credit if a FedEx shipment arrives late. According to the FedEx website, you can save up to 40% on FedEx Express, 40% on delivery area surcharges, 20% on FedEx Ground services, and 70% on FedEx Freight services.
Global services: With FedExās international shipping assistance and global trade manager, you can make international shipping a breeze. The shipping assistant allows you to tell FedEx about your shipment and then receive shipment information so you can start shipping immediately. Its global trade manager is an online tool that can help you find international documents, estimate duties and taxes, and find shipping advisories and country and territory profiles.
Extensive integrations: You can easily integrate FedEx into your other ecommerce software through its developer portal, which allows you to access APIs, try out different APIs, and support your global presence. FedEx plays nicely with most major ecommerce platforms, accounting software, and even more intricate tools like CRMs.
Slow delivery: Unfortunately, despite FedExās efforts to market itself as a fast delivery service, many reviewers would say otherwise. The main problem is scale. FedEx handles so many parcels every day that there is a wide variation in the quality of fulfillment in terms of on-time deliveries and accurate delivery estimates. Itās just a little harder to ensure that the fulfillment benefits youāre promising customers are actually met during shipping, while other providers can more assuredly guarantee delivery by a certain date.
Unpredictable pricing: FedExās intricate pricing structure means itās hard for small businesses mindful of their budgets to predict what fulfillment will actually cost them. A wide range of factors affect the ultimate cost, whereas other providers have simpler, more transparent pricing for shipping and related services.
Poor customer support: FedEx also doesnāt have a great reputation when it comes to customer support. Lots of reviewers have complained about the inability to get in touch with a representative, the difficulty in managing shipments and creating exceptions or delivery instructions, and a lack of acceptable resolution when something goes wrong with a shipment.
While FedEx is a multinational powerhouse for ecommerce operations, the best fulfillment provider for most web store owners is ShipBob because of its omnichannel support and accurate two-day express shipping.
FedEx is a decent multinational ecommerce fulfillment service that can grow with your business. With FedExās rewards, seamless returns processes, and the opportunity to ship globally, FedEx can take your ecommerce operation to the next level.
FedEx has been in the industry for 50 years, making it incredibly well-known and reliable when it comes to most of the company’s products. Even though its delivery times and customer support can be rocky, FedEx still has greater reach and capability than many of its competitors. However, if youāre looking for predictable pricing and better support for you and your customers, make sure to check out the options from our full list of the best ecommerce fulfillment providers.
Big Cartel is an ecommerce website builder for small businesses and creatives. Known for being affordable and easy to use, Big Cartelās templates help your artwork and handmade products shine. You can sell anywhere from 5 to 500 products, depending on your monthly plan.Ā
Big Cartel doesnāt take a cut of your sales, which is music to many starving artists’ ears. Read on to find out what we love about Big Cartelāand where it falls short.
Big Cartel is a good choice for some, but it didnāt make the list of our favorite ecommerce platforms. Shopify can do everything Big Cartel does for artistsāand much more. Try Shopify for free for three days and get your first three months for $1/month.Ā
Explore these five winners in our review of the best ecommerce platforms.
Big Cartel offers an affordable ecommerce platform for artists, boutique shops, and startups. For $0 a month, you can set up an ecommerce storefront with free, customizable templates. This low price lets you sell five products with one product image each. The free plan also allows you to use a custom domain, offer discounts, run promos, track shipments, and calculate sales tax.
The paid plans build on these features. Built by artists and makers for artists and makers, Big Cartel is the small indie business of ecommerce platforms. In turn, itās an ideal choice for indie businesses with in-person sales channels who want to bring their products online.
An independently owned ecommerce platform, Big Cartel has been serving customers since 2005. The company says it has helped customers earn over $2.5 billion worth of products. The two co-founders are still part of the team that runs everyday operations.
In a 2018 profile in Forbes, it was reported that Big Cartel made $10.3 million in revenue the previous year. It doesnāt seem like this ecommerce platform is going anywhere.
Even though Big Cartel has a loyal group of customers, the Reddit forum for the site is a ghost town–especially when you compare it to competitors like Shopify, BigCommerce, WooCommerce, and Squarespace. Not only does it have far fewer members, but questions rarely get answered.Ā
And in ecommerce forums, Big Cartel gets mixed feedback. Youāll also have to wade through posts about actual drug cartels to find what youāre looking for. I canāt help but wonder why the founders of an artist-first platform chose a name that brings to mind approximately zero artsy thoughts.
Big Cartel offers three pricing plans. True to its commitment to artists, creatives, and makers, it doesnāt come with an enterprise option.
You can choose from three Big Cartel plans: Gold, Platinum, and Diamond. The Gold plan is free of charge, but you can only sell 5 products. Each product gets one image to help you show it off. Youāll get free, customizable themes, shipping and order tracking for your customers, and the ability to offer discounts.
Platinum gives you 50 products to sell, and with Diamond, you can list 500 products. Both the Platinum and Diamond plans come with five product images per product. You’ll also get theme code editing, Google Analytics, inventory tracking, and everything offered in the Gold plan.
Big Cartel is less expensive than its main competitors, Shopify and Wix. But even Big Cartelās most expensive plan, which is just $20 a month, has limits that Shopify and Wix do not.Ā
Shopifyās basic plan lets you sell unlimited productsānone of Big Cartelās plans allow that. If you pay monthly for Shopify Basic, youāll shell out $39 a month but get some of the most powerful ecommerce features.
These include everything youād get with Big Cartelās most expensive plan. But you’ll also get tools for customer segmentation, shopping cart recovery, and shipping discounts. And you can sell from 1,000 inventory locations and offer language translation for customers around the globe.
Wix is Big Cartelās biggest competitor when it comes to selling art and other creations. Its basic and mid-tier plans give you specific tools for monetizing music, videos, digital prints, and physical prints. And thatās on top of an impressive suite of ecommerce toolsāplus unlimited product listings and abandoned cart recovery.
Big Cartelās Gold plan is free forever. If youāre only selling a few products, itāll work just fineāwithout costing you a dime. You donāt even need to enter credit card information to use it. If you want to upgrade to a paid plan, you can do so at any time.
Big Cartel is devoted to being the best ecommerce platform around for artists and small businesses. Still, itās missing some of the features you can find in Wix, Squarespace, and even Shopify. These three platforms arenāt solely dedicated to artists, but they do make it a priority to offer services tailored to creatives.
You can see how Big Cartel stacks up by checking out our list of the best ecommerce platforms.Ā
Dedication to Creatives: Artists may not have tons of extra time to spend configuring an ecommerce website. They want something quick and easy to set up, and thatās exactly what Big Cartel is for. In some ways, the websiteās limits make life simpler for artists, many of whom are also working a day job while trying to make money with their art.
Affordability: Making money as an artist, small business, or musician is notoriously difficult. I really appreciate Big Cartelās freemium plan and low pricing for its other two tiers. Thereās no enterprise plan, hidden fees, or high-priced add-ons to make your monthly costs skyrocket.
Versatility: For a small and inexpensive product, Big Cartel is the little engine that could. You can put your shop into vacation mode, choose how to price your shipping, and even offer coupons and sales.
Intuitive Dashboard: Big Cartel users praise the user-friendly, intuitive dashboard. When youāre short on time, nothing is worse than glitchy software or confusing interfaces. Big Cartel has neither.
Marketing Integrations: Just like with the bigger ecommerce platforms, you can integrate powerful marketing tools with your Big Cartel storefront. The options are limited compared to competitors, but youāll still find favorites like Instagram, LiveChat, MailChimp, and Lucky Orange.
Limited Scope: Big Cartelās competitorsāparticularly Shopify, Wix, and Squarespaceāoffer services to big and small businesses. Ecommerce reselling giants and small artists. Not Big Cartel. While I admire the platformās commitment to creatives, I have to point out that scaling isnāt easy with Big Cartel. If your art shop blows up, youāll outgrow Big Cartel quickly.
Product Restrictions: Most ecommerce platforms allow you to sell unlimited products. This isnāt true of Big Cartel. Even with the highest-paid plan, youāre capped at 500. Ouch!
Templates: Big Cartel only offers 18 templates. You can customize them with code, but stillā18 is a low number compared to Wixās 800+. And Shopifyās 100+ included templates. And Squarespaceās 150.
Limited Product Presentation Options: A good first impression of your product is worth its weight in gold. Unfortunately, Big Cartel offers minimal customization options for product presentation. The Gold (free) plan allows just one product image per product, which is less than what customers expect these days. Even the Diamond (most expensive) plan only offers five product images. Shopify gives you a whopping 250. Wix gives you 15.
CSV Export: If you want to switch from Big Cartel to BigCommerce or Etsy somewhere down the line, itāll be a laborious process. Thereās no CSV export tool to help you transfer your product catalog to a different site. You can export orders, but thatās it.
Big Cartel didnāt earn a spot in our pool of favorites, but Shopify did, and you can read all about it on our list of the top ecommerce platforms.
Big Cartel can be a good choice for musicians, artists, and creatives. This is especially true if these sellers donāt want to host their product catalog on another companyās storefront, as theyād have to if they used Etsy or eBay.
But because Big Cartel doesnāt make it easy to export your product catalog or scale up to more than 500 products, itās not the best choice for most sellers. You can get everything Big Cartel offers and more on sites like Shopify, Wix, and Squarespace.
If you’re running a larger WordPress site, you may be facing performance challenges that can impact user experience and search engine rankings. Fortunately, there are several steps you can take to improve your site’s speed and performance. This article covers some of the most common performance challenges for larger WordPress sites and provides tips and solutions for addressing these.
Growing pains… some should be so lucky to have them!
Let’s talk about how to manage a WordPress site that is growing too quickly too soon and causing you or your clients all sorts of pains and problems.
If the issue is temporary, such as dealing with an unexpected traffic spike from a post gone viral (another thing we should be so lucky to experience!), then knowing how to scale your WordPress site when traffic soarsĀ can fix this.
However, if problems persist, it may take more than a couple of aspirins and calling the doctor in the morning to make the headaches go away.
In this article, we’ll cover:
Q: How complex can you make a WordPress site?
A: Very.
When it comes to building large and complex sites, WordPress’s capacity to handle it is not an issue. As WordPress enterprise developer and global SME business adviser Mario Peshev states in his excellent article on building large and complex sites using WordPress…
“WordPress is a proven CMS that handles various applications handling millions of users and tens or even 100M views a month.”
As Mario also states…
“Scaling from 10M to 50M is feasible, 50M to 100M is challenging, 100Mā200M is quite complex and 200M+ may require some serious engineering effort.”
So, the capacity of the WordPress CMS platform to handle large and complex sites is not a problem.
The issue is having the skills to handle WordPress enterprise development challenges.
As most developers know, WordPress is not only a widely popular content management system known for its flexibility, ease of use, and affordability, but it is also an excellent platform for small businesses and startups that want to establish a web presence quickly and easily.
However, when it comes to enterprise-grade WordPress development, the amount of information available is as scarce as a developer who hasn’t resorted to cursing loudly at their code editor at least once.
So, before we get into diagnosing the challenges and issues of dealing with large WordPress sites, let’s explore some of the challenges of finding relevant information on WordPress enterprise development.
Here is a summary of the points Mario Peshev makes in his article…
One of the main reasons why information on enterprise-grade WordPress development is scarce is that only a handful of agencies specialize in building WordPress platforms, applications, plugins, or performing migrations and integrations for the enterprise.
Most vendors profile in small business websites, and only a small chunk of the service providers work with enterprises.
Furthermore, those consultants and agencies often don’t have the time and resources to write tutorials and share their know-how with the industry, or they just don’t care, especially more hardcore engineers who don’t want to bother.
Another reason why information on WordPress enterprise development is limited is that WordPress is often not the core application that enterprises use in the first place. It’s another obstacle for many, like working on the front-end interface as 1% of the main platform running behind the scenes.
However, WordPress developers who want to bid on enterprise projects can focus on several different areas to enhance their expertise.
The first area that WordPress developers should focus on is studying the WordPress Core, APIs, and the surrounding ecosystem in-depth. This will give developers a deeper understanding of the platform and how it works.
They should also make sure that they’re comfortable with WordPress coding standards and best practices. This will ensure that the code they write is maintainable and easy to read.
The second area that WordPress developers should focus on is practicing in the main technical areas that enterprises care about, such as performance, security, scalability, and backward compatibility.
Enterprises have high expectations, and it’s essential to demonstrate that you have the expertise to meet their requirements.
These WordPress development resources will help you gain these valuable skills and expertise:
Hosting vendors are strategic players in the field and occasionally work with high-scale applications. Developers can browse their resources and follow their blogs, knowledge base articles, and the like. WordPress is a platform built on top of PHP and SQL, front-end served through HTML, CSS, JavaScript. It runs on a web server like Apache or Nginx using mod_php or php-fpm, connected to a MySQL database on a Linux server.
Most of the heavy lifting for enterprises happens on top of those layers. Therefore, it makes sense to dive deeper into their own communities and resources stressing on those topics.
It always helps to follow WordPress Core contributors, employees at enterprise-grade companies, and the blogs of the leading agencies working with enterprises. You may find some relevant case studies, interviews with clients, or other top engineers that could help you improve even further.
Now that we’ve looked at the first challenges, which is acquiring the expertise to handle large and complex WordPress sites and meeting the expectations of enterprises, let’s turn to addressing common performance issues you may experience working with large WordPress sites.
WordPress is used by some of the biggest and most well-known companies, celebrities, and brands in the world, like Intel, Pepsi Cola, PlayStation, American Express, TechCrunch, Fisher-Price, Beyonce, Justin Timberlake, Usain Bolt, and many more.
Someone has to look after these large sites… why not you?
While browsing throughĀ WPMU DEV’s member forums (which, by the way, is a treasure trove of information for web developers), I came across this post fromĀ WPMU DEV member Charly Leetham, which I am reproducing in full below:
***
I was contacted by a long term client asking for assistance with theirĀ client.
The end customer is setting up a rather large website in WordPress and they were having no end of difficulties in keeping the site running. It was so bad, that they had to reboot their Amazon EC2 instance regularly (several times a dayĀ regularly).
With trepidation I agreed to take a look and see if I could help. What I found has left me ā¦ saddened. For the client, mostly.
The site:
This is not a smallĀ site.
It was built in Elementor which initially left me concerned, as I know that Elementor is resource hungry.
The EC2 instance was provisioned with 140 Gig storage and 32 Gig memory. More than enough, right? One would think so.
The business had been moved to EC2 by a consultant who had promised them it would improve their performance. Then they told them that the reason the instance kept hanging was because of the high number of transients that were being created.
They created a cron job that deleted the transients every hour and with very littleĀ improvement.
Iāve found a number of things during my investigations but the three most concerning thingsĀ are:
1. Although the server was provisioned with 32G of memory. PHP had been limited 2G and WordPress had been limited toĀ 40M.
Itās no wonder they were having trouble.
Increasing these limits has stopped the hanging but weāre still experiencing memory overflows.
2. The database was provisioned on the same server.
Splitting the database onto a RDS (remote database server) should provide more performance increases.
3. No optimization or performance improvement work had beenĀ done.
By implementing Hummingbird, Iāve been able to improve the load time of the site and thatās without doing anything really hard core. Thatās still toĀ come.
The main thing I want to highlight for others here, is that itās the incremental knowledge you bring to the table when working with clients.
Yes, people can build their own WordPress sites but few people can really make them hum. That takes experience and a lot of work.
***
Charly’s forum post is a great example of some of the typical performance challenges you can expect when working with larger WordPress sites and provides a number of useful insights into handling these.
To address these challenges, let’s first summarize the main technical issues Charly described when looking at this client’s site:
We’ve already addressed point #6, so let’s go through the other issues on the list above.
As your WordPress site grows, so does the size of its database. Your WordPress database can become quite large and may start causing some issues.
Managing a large WordPress database can be a daunting task, so let’s take a look at some of the challenges, best practices, strategies, and solutions for managing your WordPress database on larger sites.
The challenges of having a large WordPress database include:
Here are some strategies and best practices managing WordPress databases on larger sites:
Before you even start thinking about managing your database, it’s important to make sure that it’s set up correctly. When you install WordPress, it creates a new database for you. However, if you’re running a large site, you may want to consider using a separate database server. This will help to improve performance and reduce the load on your web server.
When configuring your database, it’s important to choose the right settings. In particular, you’ll want to pay attention to the database character set and collation. These settings can affect how your content is displayed on your site, so it’s important to get them right from the start.
When managing a large WordPress site, you’ll want to think carefully about where to keep your databases.
There are a few different options to consider:
As your WordPress site grows, the size of your database can have an impact on how quickly your site loads.
When you have a large number of records in your database, queries can take longer to run, which can slow down your site.
Caching can help speed up your website by storing frequently accessed data in memory, reducing the need to access the site’s database and PHP. This, of course, depends on the kind of caching being used, e.g. database caching (which includes object caching) or page caching (where the cache of the web pages is stored and presented when a specific page is requested later without needing to be processed by PHP and MySQL).
To improve performance, you can use server-side caching, caching plugins that manage server-side caching solutions, or standalone caching plugins. Our performance-optimizing plugin Hummingbird, for example, has its own caching but also integrates with WPMU DEV’s server-side caching.
Caching can have a significant impact on site performance, particularly for larger sites. However, setting up and managing caching can be complex and time-consuming.
Also, it’s important to regularly monitor your site’s performance to ensure the caching is optimized for your specific needs.
To learn more about caching solutions, check out our Ultimate Guide to WordPress Caching.
Another option is to use a technique called “sharding,” which involves splitting your database into smaller pieces. This can help to improve performance by spreading the load across multiple servers.
If you’re using a technique like sharding, you’ll need to decide how to split your data up. One option is to split your data by category or tag. For example, you could have one database for posts related to technology, and another for posts related to entertainment.
Another option is to split your data by date. This can be particularly useful if you have a lot of older content that doesn’t change very often. You could have one database for posts from the last year, and another for older posts.
Consider also using a plugin like HyperDB. HyperDB is maintained by Automattic, the parent company of WordPress.
As described on the plugin page…
HyperDB allows tables to be placed in arbitrary databases. It can use callbacks you write to compute the appropriate database for a given query. Thus you can partition your siteās data according to your own scheme and configure HyperDB accordingly.
Indexing your database can help to improve performance by making it faster to search for data. When you create an index, the database creates a data structure that makes it easier to search for specific values.
To create an index, you’ll need to use the MySQL command line or a tool like phpMyAdmin.
When you’re creating an index, it’s important to choose the right columns to index. Typically, you’ll want to index columns that are frequently used in queries.
You can also use a plugin like Index WP MySQL for Speed. This plugin adds databaseĀ keys (also called indexes) to your MySQL tables to make it easier for WordPress to find the information it needs. The plugin page also includes excellent information on database indexing in relational database management systems.
To keep your database running smoothly, there are a few settings and logs that you’ll want to keep an eye on. These include:
In addition to the above, there are a few other ongoing maintenance tasks that you’ll want to perform to keep your database running smoothly.
These include:
In terms of cleaning up your database,Ā Charly mentions a high number of transients as being a possible issue affecting the site’s performance. Although addressing this issue seemed to offer very little improvement in Charly’s client’s case, it’s worth mentioning it here as something to check if you are experiencing issues with your site.
Transients are a type of cache that stores data in the database for a specific period of time. They are used to speed up the loading time of a website by storing the results of a complex or time-consuming query, such as an API request, so that the query doesn’t have to be run every time the page is loaded.
Transients have a set expiration time, after which they are automatically deleted from the database. However, if the website is not properly optimized, transients can accumulate in the database and cause performance issues, such as slow page loading times or database crashes.
To optimize WordPress and avoid issues with transients, there are several steps that can be taken. These include:
No matter what size WordPress site you are working on, using WPMU DEV’s Hummingbird caching and site optimization plugin can help to automatically take care of expired transients and eliminate this issue, leading to faster page loading times and a smoother user experience.
In terms of increasing the memory limit for PHP, if you are a WPMU DEV member, it’s really easy to check a whole bunch of information about your WordPress site, include current PHP memory limits and max filesize upload settings.
Just log into your WordPress dashboard and navigate to the WPMU DEV dashboard plugin menu. Select Support > System Information > PHP tab.
If you are not a WPMU DEV member, you can still check this information manually.
To find out how much php memory is allocated, create a php and add the following:
<?php phpinfo(); ?>
Call it something like php-test.php and upload it to your server.
Access the file from a browser and search for memory_limit. This will give you two settings ā what the local site settings are and what the server default is. It is possible to have different php memory_limits by site.
For WordPress memory, for instance, you might see the following:
define('WP_MEMORY_LIMIT', '64M');
Note that if this entry is missing in the wp-config.php file, then your site is probably working between 40M and 64M.
In addition to the above, make sure to also scan and fix corrupt or broken files and database in WordPress.
As you can see, there are quite a number of things you can do to improve the performance of your WordPress database.
Let’s move on, to…
Charly mentions that another possible reason for the performance issues her client’s site was experiencing was using a resource-hungry theme.
Rather than focusing on a particular theme, let’s look at themes and plugins in general (btw… if you use Elementor, check out our article on how to optimize Elementor themes. We’ve also written articles on ways to optimize themes like Divi, WPBakery, Astra, and other page builders.)
Here are some of the things you can do:
Theme and Plugin Bloat – Themes and plugins can significantly impact the performance of a WordPress site, particularly if they are not optimized or updated regularly. Some themes and plugins can also be poorly coded, leading to slow loading times and site bloat.
Solution: Be sure to choose a lightweight and optimized theme that is regularly updated by the developer. Avoid using too many plugins and remove any unnecessary ones to reduce site bloat. Always keep your themes and plugins up-to-date to ensure optimal performance.
As with all WordPress sites, regardless of size, it’s also really important to optimize your client sites.
There are a number of tools you can use to scan your site and measure site performance, including Google PageSpeed Insights and GTmetrix.Ā These tools provide important insights into ways to optimize your sites.
You can also use a developer tool plugin like Query Monitor to help you identify issues, aid in the debugging of database queries, PHP errors, hooks and actions, block editor blocks, enqueued scripts and stylesheets, and HTTP API calls. The plugin also provides advanced features such as debugging of Ajax calls, REST API calls, and user capability checks.
Additional articles and tutorials that we recommend checking out include our guide on speeding up WordPress, solutions to forgotten WordPress page speed problems, WordPress troubleshooting guide, and Mario Peshev’s article on scaling mistakes when running a large WordPress site.
Large WordPress sites typically have loads of content. In Charly’s case, for example, the client’s website had over 900k entries.
If you’ve gone and optimized the database and you’re still experiencing issues, here are some of the things you can look at:
If you are still experiencing problems with the site after fixing issues with the WordPress database and optimizing the site’s core, plugins, themes, and content, the issue may be related to web hosting.
Consider using a managed WordPress hosting service with a company that specializes in WordPress.
Hosting with a reputable host not only means placing your site in the care of an experienced team who will handle areas like server optimization and database management for you, but also migrate your existing website to their servers.
This is very important, as a large WordPress site no doubt has lots of moving parts and active traffic and transactional events taking place, and you don’t want to lose any valuable data or break anything during the migration process.
Additional hosting considerations for a large WordPress site include the ability to handle demands with ample resources, uptime, speed, and customer support.
WPMU DEV offers enterprise-level hosting, 24/7 expert hosting and WordPress support, and migrations by a team of experts who will handle everything for you, including troubleshooting any potential issues with your site.
Additionally, WPMU DEV has been independently rated and reviewed by many users as one of the leading managed WordPress hosting companies, with a near-perfect rating score. G2.com, for example, rates WPMU DEV 4.8 out of 5 stars overall, and 9.8 out of 10 for quality of support.
More importantly and on a practical level, our expert team proactively manages larger sites by regularly checking areas like āPHP error logsā for any errors in the plugins, themes or in the WordPress core and āPHP slow logsā for slow loading scripts (e.g. plugins where scripts exceed 30 seconds to execute), access logs (to see if thereās a DDoS attack or high visitors in general), and load on the server resources, including CPU, RAM, etc.
The team also checks if WAF is enabled, caching is ON, and any non-used profiling software is turned off when not needed, and will perform conflict tests for plugins and themes and run query monitoring scans at the mysql level when required.
We also offer integration with New Relic and Blackfire to profile the site and its pages for all sites, large and small.
A large WordPress site differs from other WordPress sites mostly in the scale and complexity of its management.
Dealing with performance issues in large, complex WordPress sites requires having the skills and the expertise to handle challenges and meet the high expectations of enterprise clients.
Finding information on WordPress enterprise development can be challenging, but focusing on different areas like studying the WordPress Core, APIs, and the surrounding ecosystem, practicing in the main technical areas, and following leading agencies, will help you become more knowledgeable and confident in your abilities as a developer.
Also, managing a large WordPress database can be challenging but there are solutions available to help you manage it. By optimizing your database, using caching and CDN services, using a managed WordPress hosting service, and regularly backing up your database, you can ensure that your website runs smoothly and avoid potential issues.
By addressing common performance challenges and regularly monitoring your site’s performance to identify and address any issues as they arise, you can significantly improve the performance of your larger WordPress site.
Finally, hosting your site on enterprise-level servers with an experienced and reliable managed WordPress hosting partner like WPMU DEV will not only improve your large site’s performance but also help to eliminate problems and issues, as your site will be expertly managed and monitored 24/7.
If you are looking to migrate your existing site from another host or upgrade hosting for a large WordPress site, we recommend looking at our enterprise-level hosting plans (3 x Essential and 3 x Premium options), and taking advantage of our hosting buyout and free expert site migration service.
***
Special thanks to WPMU DEV member Charly Leethan for her contribution to this post. AskCharlyLeethan provides ongoing support and advice to help small businesses define and refine their processes and plan and build their web presence using current and emerging technologies.
Our favorite ecommerce fulfillment service is ShipBob, as it delivers a high level of accuracy and simplifies scalability. You can request a free demo and a personalized price quote now.
Two of the most popular ecommerce business options are dropshipping and ecommerce fulfillment. Although these two business models have some similarities, there are specific differences, too. With ecommerce fulfillment, you hold stock and sell items from that inventory. With dropshipping, you simply manage orders and never physically carry the products. Understanding the differences between these two options can help you pick the best one for your ecommerce business model.
If you want to operate an ecommerce fulfillment business, multiple software packages are available to help. We broke down the five best ecommerce fulfillment services that can help you run your business more smoothly.
The most significant difference between ecommerce fulfillment and dropshipping is how you handle your stock of products. You must have a means of storing inventory when performing ecommerce fulfillment, and you donāt keep any inventory with dropshipping.
With ecommerce fulfillment, a customer makes an order through your online store, and you must package and ship the products from your inventory stash.
You typically purchase (or make!) and store the products at a fulfillment center you own and operate. The fulfillment center also typically handles the packing and shipping process. A fulfillment center can be a warehouse, or if you are running a small business out of your home, your fulfillment center may be a spare bedroom or garage.
If you are running a dropshipping business, you never have to worry about storing products. Your online store simply advertises products that come from another supplier.Ā
When an order comes into your store, you pass that information to the supplier holding the products. That supplier manages the work of packing and shipping the products directly to the customer.
Some people prefer the dropshipping model because it seems easier. You donāt have to worry about finding a place to store products or do the physical work of packing and shipping boxes out.Ā
However, when you are dropshipping, you lose the ability to manage or control the way the products ship and the quality control of the shipping. Your customer service rating will suffer if a supplier poorly packs a box or ships it to the wrong address. You have more hands-on control of these processes when you use the ecommerce fulfillment model.
With an ecommerce fulfillment business, you must be able to track inventory accurately. Because you have your own fulfillment center that stores your products, you need to know when your inventory is running low so that you can reorder.
You donāt want to advertise a product as in stock on your online store only to tell a disappointed customer that the product is out of stock. Having a system in place to track your inventory is vital to the smooth operation of an ecommerce fulfillment business.
If you are running a small business selling only a few products and can easily count how many boxes you have left in your basement, tracking inventory is pretty easy. If you sell hundreds of different products and store them in warehouses, youāll need inventory tracking software to help.
With the ShipBob ecommerce fulfillment service, you get real-time inventory tracking. ShipBob can also send you alerts whenever inventory drops below a certain level for a particular product.
If you are running a dropshipping business, inventory tracking involves a different process. You do not hold the products in inventory yourself, so you cannot track items independently.
Instead, you must rely on suppliers to send notifications when certain products are out of stock. You can then adjust the information on your online store accordingly. Unfortunately, suppliers donāt always provide this information readily.
You may be able to find apps that can help you try to keep track of inventory from suppliers, but this is also a hit-and-miss proposition. You may just have to accept that you occasionally run into inventory issues as a dropshipper, leaving customers disappointed.
You may want to consider having more than one supplier available for each product in your dropshipping online store. If one supplier is out of stock, perhaps one of your backup suppliers can fulfill your customerās order.
When running an ecommerce fulfillment business, the startup costs typically are quite a bit higher than with a dropshipping business.
Some of the startup costs for the ecommerce fulfillment model that donāt exist with the dropshipping model include:
Operating as a dropshipper, you donāt have to store inventory or ship products, eliminating many startup costs.
While your startup costs are lower when running a dropshipping business, your profit margins are often lower than ecommerce fulfillment.
Profit margins are lower due to having to pay the supplierās set prices and having to pay them to store and ship the products for you, all of which eats into your profit margin.
Although you have some of the same operational costs as an ecommerce fulfillment business, you have more control over those costs. You can purchase products to place in your inventory at wholesale prices, saving you money versus paying a supplier to handle your products.
When operating as a dropshipper, the supplier essentially sets your operational costs, leaving you less control.
As an ecommerce fulfillment business, you have a greater chance to build a memorable brand for your customers. Dropshippers struggle to create a brand name that generates loyalty among customers.
With an ecommerce fulfillment model, you can improve your brand’s visibility by selling products you make yourself and having unique selling points. After all, your specific products are only available in your store, boosting your brand.
Additionally, you can control your brandās notoriety by how you treat customers beyond typical customer service techniques. For example, because you are packing and shipping your own products in the ecommerce fulfillment model, you can take steps to make your packages memorable. You can also choose to make unique or personalized items.
You may want to include a personalized note in the packaging or a small gift to ensure customers will remember you. Brand loyalty can go a long way in building the success of your online business.
Perhaps customers will remember you because you give them fast shipping and realistic estimates of the package’s arrival date. You can ensure the products always arrive safely through careful packing.
When working with the dropshipper model, you lose control over the shipping process. Your supplier performs the packing and shipping for you. Personalizing this process to make your brand more memorable is far more difficult. And if the supplier poorly packs a product causing it to arrive broken, customers arenāt likely to remember your brand fondly.
Additionally, itās far more difficult to differentiate your online storeās product selections when you are dropshipping. Because you are acquiring products from suppliers, itās highly likely other dropshippers are also getting similar or the same products from those suppliers.
You have very little chance to carry a unique product as a dropshipper. Consequently, customers are less likely to remember your brand name when shopping for the product again. They may just go with the online store with the lowest product price rather than return to your store.
When running an ecommerce fulfillment business, it can be tough to scale the business to accommodate sudden growth, such as that from a video that suddenly goes viral. If you need to scale fast because of an unexpected influx of new orders, you may experience problems.
To grow, you need enough inventory on hand to fulfill the new orders. If you are making your own products, this means having enough supplies and time to create additional products quickly. You cannot fill the orders if you cannot get the supplies or are the only person making the items. There are only so many hours in the day.
You may need to hire people to help you ramp up the production of your unique products. What you donāt want to do is ramp up production so fast that the product quality suffers. If hiring others to help you make products for your ecommerce fulfillment business causes the quality of the products to drop, youāre going to disappoint customers.
If your products require supplies from other people and companies as part of your ecommerce fulfillment business, sudden growth can be challenging there, too. Perhaps the company supplying the products to you cannot fulfill your increased orders quickly enough to allow you to grow as fast as you want or keep your delivery times to what you promise customers.
As you are growing, you really have to stay on top of your inventory levels, so you can fill orders without alienating your customers. Slow, steady growth is easier with an ecommerce fulfillment business versus sudden growth.
With a dropshipping business, managing sudden growth is easier. Because you are selling products suppliers already have, you donāt have to worry about having enough inventory to handle the extra orders.
Most dropshipping suppliers are huge. Growth from a single dropshipper doesnāt affect them much. These suppliers often provide products to many dropshippers simultaneously, so they can typically handle one storeās sudden growth effortlessly.
Additionally, it often requires quite a bit less time on your part to manage the growth of a dropshipping business versus an ecommerce fulfillment business. If you run either of these businesses as a side hustle while working afull-time job, the time required to manage growth is extremely important.
With both dropshipping and ecommerce fulfillment business models, you will need to create an online store. Multiple great website builders are available that focus on helping you build a high-quality online store. These services walk you through the process, simplifying things versus making the store from scratch on your own.
You have to pay for hosting services for your online store. Understanding what these costs entail is important so you can appropriately calculate your potential profit margins for either ecommerce fulfillment or dropshipping business models.
With both business models, you decide what products to offer. You also choose how many products you want to list on your online store and the price of each item. You must research the products yourself regarding quality and availability. You also must determine whether certain products can generate the profit margin you want.
Another similarity between these two online business models is that you handle the marketing for your business. Your online store builder can help you with marketing, but you have to take the steps on your own. Youāll need to advertise your business, and those methods are up to you.
Customer service works similarly for both dropshipping and ecommerce fulfillment. You may have a few customers who are unhappy with the quality of a product when it arrives. You must decide how to handle complaints, maybe by shipping a new product, offering a refund, or taking another path.
Even though you never touch the product in a dropshipping business, customer service still is your responsibility. The problems customers experience may be the supplier’s fault for your dropshipping business, but dealing with the issue falls to you.
A final similarity between ecommerce fulfillment businesses and dropshipping businesses, you control the operation. Both types of business models can work as a side hustle or as a full-time job. It really depends on how much time you want to invest and the risk you want to take.
You could start either type of business as a side hustle while working another job as your primary source of income. If the online business grows, you can then decide whether to make it your full-time job. Both models have the potential for significant growth, but both also have a risk of potential failure.
If you are considering starting an online business, you have quite a few things to consider. Do you want to operate the business as a side hustle, or are you planning to make this your full-time occupation? Are you looking to provide products you source from others, products you make, or both?
Although there are some similarities between these two types of online businesses, the differences are important to understand.
Ultimately, starting a dropshipping business tends to be a bit easier than an ecommerce fulfillment business, and it tends to have smaller startup costs. If you are looking for larger profit margins and more of an opportunity to create a unique brand, though, ecommerce fulfillment may serve you better. Study both types of businesses to determine which fits your needs and goals.
Our preferred Slack alternative is Microsoft Teams, as its comprehensive features and third-party integration make it especially ideal for large businesses. Sign up for Microsoft Teams for free.Ā
Slack is a cloud-based instant messaging app designed for the workplace with direct messaging, group messaging, transfer of files, and various other tools. It is widely regarded as one of the most popular and well-known business communication tools and an excellent alternative to an internal email.
Slackās intuitive user interface, customization, and built-in privacy settings have made it the leader in the market. At the time of its launch in 2013, there were no formidable competitors in the realm of business messaging, but that has changed over the years.
We looked at some of the most popular business messaging apps used today and found Slack to be the ideal option for most companies. The following apps made it to our list:
Slack and Microsoft Teams were a close call in our comparison of top business messaging apps, but Slack came out on top. The following section makes a case for our second pick,Ā Microsoft Teams.
Microsoft Teams is a leading cloud-based communication and collaboration tool businesses use worldwide. Developed by Microsoft and launched in 2017, it includes messaging, voice calling, video calling, and screen sharing, among a ton of other features. Teams gained massive popularity and adoption during the COVID-19 pandemic when companies were forced to adapt to remote collaboration due to work-from-home policies.
It has an easy-to-use interface and includes many additional utilities like a calendar, integration with tools like Jira and GitHub, and integration with websites like Monday.com. Teams also has robust built-in security and privacy features that are essential for businesses with a large number of employees. This makes Microsoft Teams the ideal business communication platform for large companies and their unique requirements.
Teams is used by corporate offices and the tech sector and has also helped aid remote learning. Students and teachers have adapted to using Teams to communicate during the semester as classes in several institutions worldwide have shifted to online seminars. Microsoft Teams can be a handy way to manage communication in a variety of settings and is catching on in popularity.
Microsoft Teams and Slack primarily cater to different market segments. Young tech-savvy companies tend to use Slack and larger organizations use Microsoft Teams. But it wasnāt always like this.
Slack was clearly dominant in the small business as well as enterprise market segments until a few years ago. However, with the advent of COVID-19 in 2019, Microsoft Teams usage surged beyond Slack. By the first half of 2020, Teams was reported to have over 75 million users. According to the latest numbers, Teams has over 270 million daily active users compared to Slackās 18 million. This is a drastic change in usage trends.
Slack and Teams both have free basic versions with limited capabilities, but Microsoft Teams also comes included with Microsoft 365 Business plans. Slack gives you unlimited users and messages in its free plan, while Teams offers up to 500,000 users and unlimited messages. A key difference in the free plans is Slackās limitation of searching through up to 10,000 archived messages while Teams lets you dig anything up from your entire chat history.
Chat capabilities and other basic features are quite similar in both software, such as channels/teams, unlimited messages, file sharing, video calls, and apps for both desktop and mobile devices. However, the two software have significant differences that may make one of them a better option for your business.
Slack has a better onboarding process and offers more freedom than Teams, making it attractive to startups and small businesses struggling with digitization. Slack also makes it easier to invite someone on a call. It also feels lighter and easier to get started with.
Microsoft Teams has a slightly steeper learning curve, but many companies find it a better option for the long term. While Slack integrates with Office 365, too, Teams, being a Microsoft product, offers a smoother experience. The way Teams integrates with Microsoft Azure AD makes it particularly powerful and reliable for large companies.
Microsoft Teams is included with Microsoft 365 Business plans, but a standalone Microsoft Teams Essentials plan is also available for $4 per user per month. Slack starts at $7.25 per user per month. Our extensive review of Microsoft Teams discusses its features and pricing in more detail.
Zoho Cliq, also launched in 2017, is the streamlined and expanded version of the Zoho chat app. Cliq is a Slack-alternative team chat featuring integrations with Zoho CRM, Zoho People, Zoho Desk, and other tools by Zoho.
It includes direct messaging between individuals and groups, screen sharing, video calls, drag-and-drop file sharing, and various integrations. Its particularly impressive āforkā feature helps cut down on overlooked messages in channels and direct messages.
Zoho Cliq stands out from its competitors with its impressive free version. Cliqās basic plan includes 100 GB of storage space, unlimited Video calls, and a host of other features businesses have to pay for in other apps. Zoho assures its users that Cliq will always remain free.
Google and Linkedin accounts can be used to log in to Cliq which makes it an even more accessible option for businesses with tighter budgets that don’t have their own internal email. Zoho Cliqās budget-friendly paid version includes more advanced features and even an AI assistant named Zia.
Zoho Cliq is a direct competitor of Slack. Itās most often recommended as a budget-friendly alternative to Slack for startups and small businesses. It’s particularly a preferred app among people who already use other business tools by Zoho, such as Zoho CRM, Zoho Books, and Zoho Desk, because of their seamless integrations with Cliq.
The free version of Cliq allows users to search 10,000 past messages. This can give small companies a larger search volume compared to the 90 days of message history that comes with the free version of Slack. Cliqās free plan also includes SALM-based single sign-on, a feature thatās not even included in Slackās Pro plan and only comes with the Business plan.
During our research, we came across reviews for Cliq where users have complained about how long it can take to set up the software, especially when it comes to onboarding new users. Other users found the UI to be confusing. A number of users also pointed out how slow and difficult the file-sharing feature can be. Finally, some users suggested using Cliq only if youāre using other Zoho apps because of how well the Zoho app suite works together.
While Zoho Cliqās paid Unlimited plan does offer a bang for your buck, it lacks many features that businesses can benefit from. Budget is the only reason to choose Cliq over Slack.
Chanty is a business messaging platform that focuses on tasks instead of chats, which is quite unlike its competitors. The focus on tasks allows businesses to save valuable time by limiting distractions in the chat interface. It uses AI bots to improve communication and collaboration and aims to streamline company operations.Ā
The task button in Chanty features prominently in the top left corner of every conversation, keeping employees focused on the work at hand while they communicate. The app is especially geared toward software development, website building, and product development. It groups users into teams, with each team being assigned a different task.
Chanty picks the most valuable features from Slack and other apps to create a platform that maximizes productivity. The app drops complex and confusing features that can overwhelm users on other platforms without contributing much.Ā
Chantyās free version supports up to 10 people and gives unlimited searchable history. The paid version costs less than Slackās paid plans and includes a range of team management features.
Chanty is best for workplaces where tasks are more important than meetings and conferences, such as software houses and engineering firms. However, itās not the best app out there for processes that require constant coordination among team members, such as marketing and CRM.
Twist is a blend of email and business messaging featuring the best features of the two. Twist uses channels and threads that make information easily accessible for users later on.Ā
The hallmark feature of Twist is what it calls āasync messagingā. The platform actively encourages team members to respond to messages whenever they see fit. It also ensures that important information doesnāt get buried and discussions stay on topic. Users that are away from the keyboard donāt miss out and can contribute to conversations at their own convenience.
Twist is highly focused on threads, a feature more common in email clients and forums than business messaging apps. Threads allow users to access critical information without keeping the chat open. The feature also makes it easy for users to communicate at their own pace compared to the ASAP workflow encouraged by Slack.Ā
Twist also has a unique notification system that allows users to mark conversations as ādone.ā This ensures users donāt miss out on threads with information meant for them.
Async messaging is a twist on conventional business messaging apps that can improve communication in small, closely collaborating teams. Itās less ideal for larger businesses and workplaces where productivity rather than the organization is a priority.
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For most founders, selling a business (or part of it) can be a bittersweet experience. Letting go of something you’ve spent years building is always challenging.
But if you’re like many entrepreneurs, the idea of “cashing out” and reaping the rewards of your hard work is also very appealing. And moving forward with the next chapter of your life (which you only get so many of) can be very exciting.
Today we’re going to show you six of the most effective strategies for cashing out, so you can rest assured youāre getting the best deal you can.
Depending on your specific needs, there are a few different types of business brokers that can help you sell your business. After vetting countless brokers, here are the seven best:
The best way to strategize when selling your company involves evaluating the type of company you’re selling. The right selling strategy can vary wildly depending on your businessās type, size, industry, and revenue level.
Are you selling:
Some businesses are much easier to sell than others. For example, an ecommerce business that’s doing well is usually much easier to sell than a brick-and-mortar business.
The reason is simple: most buyers are looking for businesses with high growth potential and little downside risk. An online ecommerce business that’s already profitable and growing ticks both of those boxes quickly.
Brick-and-mortar businesses also carry other liabilities with them, such as employees, rent or property taxes, and other overheads. These can quickly become deal-breakers for buyers who are looking for a low-risk investment.
The size of your business will significantly impact the sale process as well. Small businesses, which operate at under $50 million in revenue, are usually sold using a different process than larger enterprises.
The main reason is that more buyers are willing to purchase a small business outright. The total amount of money required to buy a small business is much less than that of a larger enterprise.
As such, the buyer pool for small businesses is usually much wider than that of a larger company.
This is good news for small business owners who are looking to sell. It means that you’ll have more potential buyers to choose from, and a better chance of finding the right fit for your business.
For larger companies, you’ll need the help of an investment bank or a business broker. The process of selling a large company is usually much more complex and requires a higher level of expertise as a part of your strategy.
Strategies for selling a smaller business include:
Selling a larger business, on the other hand, usually involves:
Online businesses can be wicked profitable, or they can be a total flop.
The good news is that buyers are usually more interested in online businesses that are profitable and have a solid growth trajectory.
The reason is simple: these businesses tend to be less risky and have a higher potential return on investment (ROI).
As such, you should expect to receive a higher multiple for your business if it falls into this category.
There are a few key things you’ll want to incorporate into your strategy to maximize the value of your business:
The best options for selling an online business include the following:
The process of selling a brick-and-mortar business is usually much more complex than that of an online business.
Since most brick-and-mortar businesses require some level of physical presence, it’s often difficult to find a buyer who is willing to purchase the business outright.
As such, you’ll likely need to negotiate a sale with a potential buyer.
The best way to sell a brick-and-mortar business is to hire a business broker. A broker will help you to find a buyer, and will also negotiate the terms of the sale on your behalf.
Another option is to seek private equity investment for a partial buyout of your business. This can be a good option if you’re looking to cash out some of your equity but still maintain a stake in the company.
Some strategies for selling a brick-and-mortar business include:
Most strategies involve some level of this decision-making process, but itās also important to consider it as a standalone strategy. Deciding whether or not you want to let go of the entire business is a major consideration that requires lots of strategizing and thought.
In the case of smaller businesses, it doesn’t usually make sense to sell just a part of the company. But for larger enterprises, it’s often necessary to sell only a portion of the business.
This is usually done for one of two reasons:
In the case of many SaaS startups, for example, the CEO and co-founders will often sell a minority stake in the company to raise growth capital. This allows them to keep a controlling interest in the business while also cashing out some of their equity. The same is true of agency owners, ecommerce and direct-to-consumer (DTC) brands, and other businesses that have successfully scaled to a sizable revenue base.
There are also several reasons to sell an entire business:
For businesses that have done well and show upside potential, it’s common for founders to sell a majority stake while retaining a minority position. This allows them to cash out some of their equity while still having a say in how the company is run.
On the other side of the coin, there are plenty of people who start or buy businesses just to scale them, sell them, and move on. This is especially common in the case of online businesses like blogs and affiliate sites.
The key here is to decide what you want to do with your business and then structure the sale accordingly.
If you’re only selling a part of the business, you’ll need to specify which assets and liabilities are included in the sale. This can be a complex process and will require the help of a lawyer or accountant.
This is the million-dollar question (literally). And it’s one that doesn’t have an easy answer, unfortunately. But there are some steps you can take to get a general idea of your business’s value.
The first thing you need to do is create a list of all the assets and liabilities that are included in the sale. This includes everything from accounts receivable and inventory to real estate and patents.
You’ll also need to create a pro forma profit and loss statement for the past three years. Doing so will give you a good idea of the business’s earning power and growth potential.
Once you have all this information, you can start to put together a valuation model, which will help you determine how much your business is worth based on various factors such as revenue, earnings, growth potential, and risk.
There are several different methods you can use to value a business, but the most common are the following:
The DCF method is the most frequently used way to appraise a business. The principal it’s based on claims that a company is worth the totality of its future cash flows, discounted at an appropriate rate.
To value a business via the DCF method, you’ll need to estimate the firm’s future cash flow and discount them back to the present day.
The multiples method is another common way to value a business. It’s based on the principle that a business is worth a multiple of a primary underlying financial metric, such as revenue, earnings, or EBITDA.
The multiples method is based on enterprise value, which is the sum of a company’s equity value and its debt. To calculate the value of a business using the multiples method, you’ll need to find out what similar businesses have sold for and then apply a multiple to the metric you’re using (revenue, earnings, EBITDA, etc.).
The EPV method is a variation of the DCF method. It’s based on the principle that a business is worth the present value of its future earnings, discounted at an appropriate rate. It is mostly used for businesses that issue stock since it’s more accurate than the DCF method for businesses with high debt levels.
To calculate the value of a business using the EPV method, you’ll need to forecast the company’s future earnings and discount them back to the present day.
Of course, money coming in and out isn’t the only thing that you should consider when you’re trying to value your business. There are a number of other factors that can impact the value of a company, including:
Once you’ve decided to sell your business and have an idea of how much it’s worth, you’ll need to decide how you want to sell it. There are several different options available, each with its own pros and cons.
If you’re not sure how to go about selling your business or don’t have the time to do it yourself, you can use a business broker.
Business brokers are professional middlemen who help buyers and sellers of businesses find each other and negotiate deals. They typically charge a commission of 5-10% of the sale price.
A strategic buyer is a company that’s in the same industry as the business being sold. They’re typically looking to acquire businesses in order to expand their market share, enter new markets, or add new products and services.
The main advantage of selling to a strategic buyer is that they typically pay more than other types of buyers since they’re looking to acquire the business as a means of furthering their own bigger-picture goals.
Strategies for finding strategic buyers include:
Networking with them on the social media platforms they hang out on: Chances are, your buyers will use social media on some level.
Selling your business online using a site like Flippa or BizBuySell is a relatively simple process. You’ll need to create a listing for your business, including information about the company, as well as photos and videos (if you have them).
Once your listing is live, it will appear in a scrollable feed with information like the asking price, revenue multiple, and earnings multiple. If a buyer is interested in your business, they’ll contact you to discuss further details.
Once you’ve reached an agreement, the buyer will pay a deposit (typically 10% of the asking price), and the escrow process will begin.
The main advantages of selling your business online are that it’s quick and easy. And since these platforms offer escrow protection, you don’t have to worry about getting paid.
The downside is that you’ll likely get a lower price for your business since buyers on these platforms are typically looking for bargain deals.
Another option for selling your business is to sell it to your employees. This is known as an employee stock ownership plan (ESP).
With an ESP, the company’s employees buy shares of the business from you, typically using a loan from a bank. Sellers who use this method don’t need to find a buyer, but they do need to be willing to give up some control over the business.
An ESP has several advantages, including tax breaks and the ability to keep the business in the family.
But it’s not right for everyone. For example, if you’re looking to retire soon or if you don’t think your employees are ready to run the business, then selling to your employees might not be the best option.
Prepping for negotiation is critical, especially if you plan to sell to a private equity firm, which will try to get as favorable of a deal (for them) as possible. This can be a complicated process, so it’s important to have a clear idea of what you want (and what you’re willing to give up) before you start.
Some things to consider during the negotiation process include:
You’ll also need to decide what, if anything, you’ll include in the sale. For example, will you sell the business as is, or will you include inventory, equipment, or other assets?
You’ll also want to think about what, if any, restrictions you’ll place on the buyer after the sale. For example, such as the ability to compete in your market or non-compete clauses.
It is best to prepare for any issues that may arise during the negotiation process as well, such as:
If you’re not sure how to negotiate the sale of your business, there are plenty of resources available to help, including books, articles, and online courses.
Once you’ve reached an agreement with the buyer, it’s time to complete the sale. But this process involves strategies of its own, and most of them revolve around how you structure the deal and prepare for what comes next.
Your purchase agreement document outlines the terms of the sale, including the price, payment terms, and any other conditions that have been agreed upon. Once the purchase agreement is signed, the buyer typically pays a deposit (usually a percentage of the sale price). This deposit is held in escrow until the sale is complete.
Once the sale is complete, you’ll need to update your records with the state and local governments. You’ll also want to notify your employees, customers, suppliers, and other business partners that you’ve sold the business.
Selling your business is a big decision, and it’s not something to be taken lightly. It requires strategy at every level of the sale, and there are several nuances that will be specific to your business.
But if you’re ready to move on, it can be a great way to cash in on your hard work and start anew. To get a better idea of what your buyers might be looking for, check out our blog post on how to buy a business to see what it’s like from your buyers’ perspective.
And if you want to learn how to start a business with hopes of an exit, follow our step-by-step guide.
Toast is our recommendation as the best bar POS system due to its versatility and simplicity for both customers and bar staff. Get a free demo now for a customized walkthrough of Toast.
Bars and restaurants have unique needs compared to other types of businesses. They must be able to efficiently track inventory for all beer, wine, and liquor while managing tabs and quickly processing customer payments.
The best bar POS systems make it easy to pre-authorize cards, train staff, track sales, and keep customers happy with excellent service. To help you meet these standards, our team has researched the best POS software for bars and reviewed our top picks below.
After reaching more than 25+ high-quality bar POS systems on the market, we narrowed down our list to just six that we can recommend with confidence. Toast will be the best option for most bars because of its simplicity and ability to accommodate the needs of both bars and restaurants. Sign up for your free customized demo today.Ā
Continue below to learn more about these bar POS systems and find the best option for your business.
Our research team found some common use cases amongst bar owners seeking a modern POS system. If you see a scenario that matches what youāre looking for below, you can quickly see which tools accommodate those specific needs.
Best Option: Toast
Lots of great bars double as restaurants. Even if youāre not a full-service restaurant, you might have a limited menu of light bites and snacks to accompany your beverage list.
Toast is actually a restaurant-first POS solution. They have a wide range of solutions for bars, quick-service restaurants, pizza shops, hotel bars, fine dining, and more. So integrating your food options, kitchen operations, and bar menu into a single POS system wonāt be a problem.
Another Great Choice: TouchBistro
TouchBistro also accommodates full-service restaurants and bars. They have a complete kitchen display system that integrates with your POS so food orders can be prepared quickly and accurately. The POS also supports tableside ordering to help you turn tables faster and reduce duplicate efforts by staff.
If your bar serves food and drinks, pay attention to:
Best Option: Mad Mobile
With QR codes from Mad Mobile, your guests can order food and drinks without having to wait for a server. The self-ordering process gives the ability to order whenever theyāre ready, without feeling rushed when a server is at the table. This also improves efficiency for your staff, as they just have to focus on bringing orders to guests instead of taking them.
Mad Mobileās QR codes are also great for breweries and wineries that are constantly rotating drink lists. You can update the menus digitally without having to reprint beer lists every day.
Another Great Choice: Toast
Toastās QR codes can be used as a way to browse the menu when guests are waiting for a seat. You can update the digital menus in real time if a keg gets tapped or if youāre running low on food items. Toastās QR codes also support mobile payments, so guests can quickly order and pay within a single session from their smartphones.
For QR codes, keep an eye on:
Best Option: Talech
Talech can automatically apply your happy hour discounts starting at a specific time or day of the week, so your staff wonāt have to manually keep track of specials, and your guests will always get an accurate check. Bartenders and wait staff just need to enter the orders, and the discounts will apply automatically.
Another Great Choice: Lightspeed
Lightspeed is perfect for bars that transition the floor layout during happy hour. Itās easy to make those changes directly from your POS system as you transition from lunch to happy hour to dinner. As a cloud-based POS system, you can apply your happy hour specials quickly across all of your locations with a single click.
If you have lots of happy hour specials, look for:
Best Option: Lightspeed
Lightspeed gives you full access to whatās happening in real time at all of your locations. You can change menus and update pricing from anywhere without actually stepping foot in the building.
If youāre expanding your bar and need to hire new employees, Lightspeedās training mode makes it easy to get your staff up to speed.
Another Great Choice: Toast
Toast offers fully custom POS systems for high-volume bars. You can even use it as a complete back-office management system for scheduling and employee payroll across every location. Toast also has a wide range of digital loyalty programs so your customers can have a great experience and get rewarded at any of your locations.
If you have a multi-location bar or youāre planning to expand, make sure you prioritize:
Best Option: Upserve
Upserve provides you with detailed reports that are easy for anyone to understand. This gives you more information on whatās happening behind the scenes at your bar. The menu intelligence reports show which items are selling the most overall and what items are popular each day.
Youāll also have detailed reports on server performance to see which bartenders are selling the most.
Another Great Choice: Mad Mobile
Mad Mobile lets you generate instant reports to see which beers, wines, and food items are the most popular. This helps you learn more about your customerās preferences so you can adjust future menu items and beer lists accordingly.
To identify best sellers, look for:
The reviews below highlight the features, benefits, pricing, and potential drawbacks of each bar POS system on our list. Youāll even learn more about the recommended use cases for each POS softwareāmaking it easier to find a solution that best fits your needs.
You should be able to quickly narrow down the best bar POS system for your business using the in-depth reviews below:
Toast POS is built specifically for bars and restaurants. Itās versatile enough to support the needs of casual bars, fine dining establishments, and even nightclubs.Ā
Whether youāre running a drinks-only bar with a handful of bartenders or you have a full-service restaurant with dozens of employees, Toast has everything you need to succeed.
Toast provides fully customizable POS solutions. This makes it a great choice for bars with unique menus and operations. But itās still simple enough to accommodate classic bars serving beer, wine, liquor, and a limited food menu.
One potential drawback of Toast is that you need to lock in a two-year contract. But since the POS system is so good, you likely wonāt want to switch within that window, making this somewhat of a moot point.
Toast can be as simple or as advanced as you want it to be. If youāre running a small bar and just need one or two terminals to streamline orders, accept payments, and manage tabs, Toast has you covered. But itās also advanced enough to be used for customer loyalty programs, employee scheduling, and payroll.
They offer a wide range of hardware options to accommodate any type of bar or restaurant. Toast has an excellent mobile solution for tableside ordering, adding convenience for your staff and customers.
You can even set up a QR code for joining a waitlist, mobile ordering, and payments. If your bar serves food, Toastās back kitchen display system helps eliminate bottlenecks and ensures food is delivered as quickly as possible.
Toastās point-of-sale solutions for bars start at $69 per month. Small bars with less than ten employees might be eligible for a Toastās starter kitāup to two terminals with basic POS functionality for free.Ā
TouchBistro is branded as an all-in-one restaurant management system. But it also has POS solutions specifically designed for bars and nightclubs.Ā
Using TouchBistroās āfast barā register mode, you can take orders and close tabs with just two taps on the screen. This is perfect for fast-moving nightclubs when patrons are elbow-to-elbow at the bar and not opening up tabs.
That said, you can definitely use TouchBistro to keep running tabs and let your guests settle up at the end of the night. The POS system also makes it easy to split checks, and it accommodates a wide range of different payment methods for varying customer preferences.
With TouchBistro, you can provide your customers with a high-end experience. Itās great for VIP table reservations and bottle service, and the reservation system doubles as a CRM platform.
The software supports two-way communication with guests so you can remind them about upcoming table reservations. Guests can also submit requests ahead of time about any drinks they want waiting at the table upon arrival.
Nightclub owners and managers love TouchBistroās built-in security settings. Only select members of your staff will have administrative access to the software. Youāll also get reports about bartenders who delete an unusually high number of items from open tabs, helping to prevent theft if customers decide to pay with cash.
Plans start at $69 per month with optional add-ons based on the features youāre looking for. For example, the TouchBistro reservations system starts at $229 per monthāa must-have feature for nightclubs.Ā
Talech is a simple and affordable bar POS system perfect for small business owners. The fully customizable pricing options are extremely versatile. You can use it for BOGO drink specials, daily specials, managerās specials, family and friends discounts, and so much more.Ā
If your bar runs daily happy hour food and drink specials, you can configure Talech POS to automatically apply discounts on specific items at certain times or days of the week. So your bartenders wonāt have to manually apply discounts when theyāre closing tabs. This helps you turn tables faster and keep your customers happy with accurate checks.
Maybe you have a deal of the month for something like ābuy a burger and get a free beer.ā Once that offer has been entered into your system, Talech POS will automatically apply the discount when the items are rung up.
Another reason why we love Talech is its ability to seamlessly adjust table positions. This is perfect for bars that transition from happy hour to dining or dinner to late-night menus that require different seating configurations.
You can use Talech to quickly split tabs and process secure payments from chip cards, swipe cards, and even contactless payment methods.
If your bar runs promotions and giveaways, Talech even offers physical gift card solutions with your establishmentās logo. This is the perfect prize for your weekly trivia night.
Schedule your free demo today to get more information on Talech POS pricing.
Upserve is a fully customizable bar POS system and restaurant management solution. If you have an extensive drink menu and serve a high volume of tickets per day, Upserve has everything you need to keep the drinks flowing and money coming in.
You can open a new tab with a simple card swipe. No more manually entering the guestās name.
The software automatically adjusts to give you instant access to your most popular drinks. So your bartenders wonāt have to sort through pages to find things quickly.
Upserve has one of the most unique customer loyalty features within the bar POS industry. You can set up house accounts for repeat customers, giving your staff access to their order history and other notes. This feature makes it easy for any bartender to remember a customerās āusualā drink.
You can use this feature to establish a customer loyalty program as well, providing discounts and freebies to your biggest spenders and most frequent patrons.
The customer profiles are also perfect if your regulars are constantly ordering off-menu items that donāt have a traditional button on your menu. But you can easily add a custom drink to a new tab by referencing an old ticketāstreamlining the ordering process and keeping your customers happy.
Plans start at $59 per month and require the purchase of an Upserve terminal as well. Terminals start at $40 each, and theyāre cheaper if you get a higher-tier subscription.
Lightspeed offers everything youād expect in a high-quality bar POS system. They have a wide range of hardware solutions to accommodate bars with different needs, and itās easy to manage tabs and collect payments.
But where Lightspeed shines above the crowd is its scalability. Owners and managers have access to advanced reports and analytics that not only help identify your best-selling items but also help you increase your profit margins. This can help you simultaneously boost revenue while eliminating waste.
The information from these reports can help you expand your operation with confidence. If you own a multi-location bar and want to establish a consistent menu for each location, you can use Lightspeed to edit the menu once and push it out to all of your locations with a single click.
Want each location to have its own unique look or feel? No problem. Lightspeed also lets you set up custom floor plans, menus, and pricing for each bar.
Lightspeed empowers bar owners and managers to scale operations. As a cloud-based tool, you can use it to keep track of whatās happening at every location in real time, giving you the ability to be in multiple places at once.
For such an advanced solution, Lightspeed is surprisingly easy to use. This makes it perfect for training new employees as youāre opening new bars. You wonāt have to worry about a steep learning curve for your staff.
Unlike other POS systems on the market, Lightspeedās payment system doesnāt impose monthly transaction limits. So opening a new location wonāt impact your processing rates.
Plans start at $69 per month with an annual contract. Start your 14-day free trial today.
More than 7,000+ bars and restaurants rely on Mad Mobileās POS systems. These solutions are modern, scalable, and accommodate bars with different needs.
Mad Mobile works really well for breweries and wine bars because of the ever-changing menu options in these establishments. If youāre adding and removing new beers and wines on a daily basis, Mad Mobile makes it easy to adjust your offerings in seconds.
You can even take advantage of Mad Mobileās QR codes so patrons can see updated beers and wines directly from their smartphones. This eliminates the need for you to manually reprint beer lists or cross out items on a chalkboard. Guests can even pay from their phones from the QR code link, and bartenders can bring drinks to their seats without any prior interactions.
For large parties and groups that order on one tab, Mad Mobile helps you split checks with just a few clicks. The software isnāt ideal for extensive food menus and back-kitchen operations. But itās definitely suitable for simple menus at breweries and wine bars that like to offer small bites that pair with drinks.
Rather than having to hold onto a customerās card to open a tab, Mad Mobile supports pre-authorizations. So you can return credit cards back to customers with ease and close checks without having to ask for them again. This speeds up your service, improves security, and makes things more convenient for your customers.
Mad Mobile makes it super easy to add or remove menu items with just a few clicks. So if a keg gets tapped or your beer list rotates daily, you can make changes within seconds.Ā
Youāll also have access to instant reports and valuable performance metrics about your sales. This can help you quickly identify your best sellers and generate more revenue based on your customersā preferences.
Sign up for a free demo to get started. An expert from Mad Mobile will walk you through the process and provide you with more pricing information based on your unique needs.Ā
Check out these additional resources that can help improve your barās operations and ensure you have the right tools for growth.
Toast is the best bar POS system on the market today. Itās easy to use, scalable, and accommodates the needs of most bars, restaurants, breweries, and wineries.Ā
But any of the top picks in this guide can be used for your bar. Just make sure youāre paying close attention to our recommended use cases and scenario-matching criteria. This helps ensure that youāre picking a bar POS system that fits your specific needs.
Our recommendation for the best iPad POS system is TouchBistro for its feature-rich core plans, transparent pricing, and terrific customer loyalty add-ons. Book a free demo today.
Android tablets are reasonably popular for POS systems. However, iPads dominate the mobile POS space for multiple reasons. If nothing else, the iOS software is renowned for its constant security fixes and updates, layer security, and robust firmware. Apple also develops and manages its software and hardware, so thereās tighter synchronization and fewer glitches.
However, there are multiple iPad POS systems on the market. We explore these options so you can find the best system for your specific needs.
We picked at least six iPad POS systems that excel in unique and varied use cases. However, POS systems are prevalent in the food service industry, and we think TouchBistro is the best-in-class iPad POS. Sign up for TouchBistro today to request a custom quote for your preferred feature set.Ā
The best iPad POS solution is often a subjective matter. Most people will swear by their preferred system. Itās a good sign that theyāve found a POS solution that perfectly matches their needs and use case. We designed this section to nudge you in the right direction by outlining the most common iPad POS scenarios and how they might affect your purchase decision.
Best Option: Lightspeed
You donāt have to worry about getting locked in long-term contracts with Lightspeed. Although you can save money by paying annually, the software also supports month-to-month payments. You can also cancel your contract at any time at no extra charge.
Another Great Choice: Shopify POSĀ Ā
Similarly, Shopify POS offers transparent month-to-month pricing. You know exactly how much youāll pay for your Shopify store and POS. Additionally, the vendor charges a standard processing fee so you can keep track of your cash flow. Thereās no charge for canceling your subscription.
If you prefer month-to-month payments, pay attention to:
Best Option: LoyverseĀ
Customer relationship management is critical to running a successful business. Loyverse offers a free CRM with surprisingly robust features. You get a basic loyalty program, loyalty card scanning, and adding bonus balances to customersā printed receipts.
Loyverse focuses mainly on its loyalty program, so itās not as robust as most alternatives. However, itās a free feature and an excellent place to start.
Another Great Choice: SalesVu
The next best thing to a free CRM is getting this feature as part of your package rather than an add-on. SalesVu offers a robust CRM tool with features like customer profiles, customer purchase reports, and segmentation. However, this feature is only available with the Advanced and Premium plans.
Still, itās good that you donāt have to pay extra for CRM capabilities if youāre already on these plans. It might also be worth upgrading to these tiers for the added functionality. Alternatively, the software integrates with popular CRMs like Zoho CRM.
If youāre looking for CRM capabilities in your POS, pay attention to:
Best Option: Shopify POSĀ
You may be set on an iPad POS. But thereās no telling if youāll change your operating system in the future. Therefore, youāll need a POS system that supports Android and iOS. Shopify works with Android smartphones and tablets if you ever change your hardware.
The software supports Android version 7.0 (Nougat) or higher. This version was released in 2016. So the Shopify POS also works for older android devices.
Another Great Choice: LoyverseĀ
Loyverse also supports Android devices. The software works with Android version 5.0 or higher. But again, you can work with older Android devices as far back as 2014.
If you want a POS that supports Android tablets, look out for:
Best Option: Shopify POS
Your software costs can increase dramatically if you need to pay for each device youāre using. The Shopify POS has a payment plan to save you money. Shopify POS Pro costs $89 per month. However, you can use the software on as many registers or devices as you wish.
Ā Best Option: SalesVuĀ
SalesVu also charges a flat fee for up to 5 employees with its cheapest plan and up to 15 with its highest tier. That means you can use up to five devices at no extra charge. After that, however, youāll need to pay at least $20 for each additional employee or device.
Remember, the base price applies only to one location. Youāll have to pay extra to use the software in multiple locations.
If you’re using the POS software on multiple devices, look out for:
This section analyzes the six iPad POS systems we identified after testing two-dozen different options. We used common scenarios and use cases to judge their effectiveness. We also tested the overall features and usefulness, ease of use, and unique features and offerings.
TouchBistro is a terrific iPad POS with all the features you need to run a successful restaurant. The software supports counter, table, and bar service from an easy-to-use interface. And with employee management, inventory tracking, and reporting, you have everything you need to manage your restaurant at your fingertips.
TouchBistro also supports multiple payment processors, so you can choose the payment partner that fits your needs. Your options include Cayan, Premier Payments, PayPal, Moneris, Chase Paymentech, Square, Worldpay, and other major third-party processors.
You can also use TouchBistro software on more than one iPad. For example, servers may use an iPad Mini for tableside ordering and a full-size iPad as a fixed POS terminal or kitchen display screen. You can also use your iPad if you already own one or purchase one from TouchBistro at custom prices.
The system is also easy to use because of its familiar smartphone interface and navigation. You donāt have to spend too much time training servers and employees to use the system. The system is equally easy to install and configure.
TouchBistro is a restaurant-specific POS, and it shows. You get valuable features like drag-and-drop table management, multiple bill-splitting options, upsells, and ingredient-level tracking. The software also offers add-on features like loyalty programs, online ordering, and reservations so you can set up the system to fit your restaurantās needs.
TouchBistro is also a hybrid system. First, the software saves data to the local server, so you maintain most functions in case of an internet outage. Then, the data uploads automatically to the cloud when the connection is restored.
Besides restaurants, this POS is also a terrific option for bars, food trucks, wineries, and quick-service establishments. TouchBistro prices start at $69 per month for one iPad license. Your license gives you access to all TouchBistro features, except the paid add-ons like online ordering, marketing, loyalty, gift cards, and reservations.Ā
Epos Now supports iPad and Android-based devices, so you donāt need a different POS if you switch to another operating system or device. In addition, the POS system comes with terrific retail POS features, including customizable security, back office functions, inventory, and customer relationship management.
The vendor also has a hospitality-specific POS for restaurants, bars, bakeries, cafes, and restaurants. It offers handy capabilities such as online ordering, customizable table plans, store recipes, and instant payment processing. Epos Now does a good job creating industry-specific software rather than an ineffective all-in-one tool.
The software also offers features that alternatives like TouchBistro charge extra. For example, you get loyalty programs and online reservations out of the box. You can also use your iPad with the Epos Now software. Alternatively, you can get a complete iPad POS from the company for $1,248.
The Epos Now iPad POS comes with a 10.2ā iPad, receipt printer, cash drawer, chip & pin terminal, and free installation, configuration, and training. This hardware bundle will save you money compared to purchasing the equipment separately.
You can also easily migrate previous data from a different POS to Epos Now. So, you donāt have to create your menus and collect customer data from scratch.
Epos Now has many great features. But its native integrations stand out. You can integrate with hundreds of third-party tools, including accounting software like QuickBooks and Xero. These are two-way integrations, meaning new accounting information for your accounting software automatically updates in Epos Now and vice-versa.
The service charges a monthly fee for each register, starting at $69 per month. However, the price goes down for each additional register, starting at $45 per month. Additionally, Epos Now integrates with third-party payment processors. So you can price shop and use a processor that charges low rates.
Finally, Epos Now offers robust reporting. You can display transactions in real time by day, hour, week, or month. In addition, you can customize your reports to show the information that matters most, such as waitstaff with the highest sales or the best-performing menu item.
For a limited time, you can get the complete Epos Now iPad POS for $0 upfront.Ā Ā
Shopify POS is another POS that works for iPad and Android. The software is easy to download, install, and configure. Then, you can turn your iPad into a POS and start selling your Shopify products in your physical store. Simply go through your Shopify catalog to find the product the customer wants to purchase and process their card.
The best part is the POS syncs to your Shopify store. So you can manage your online and in-person sales in one convenient place. Plus, you can integrate the iPad POS with hardware like a cash drawer, barcode scanner, and receipt printer if you wish.
You can use the software on as many devices as you wish. In addition, youāll pay per location rather than per device, so itās an excellent option for reducing your POS costs.
The Shopify POS Lite comes free with your Shopify account. It has all the basic features you need for in-person sales, including accepting payments, managing products, and customer relationship management. In addition, you only pay for your chosen Shopify plan and transaction fees starting at 2.4% + 0Ā¢.
However, you can upgrade to the POS Pro to enjoy enhanced features. These include faster workflows, unlimited custom roles, POS PINs, in-depth inventory reporting, and dedicated support. The plan costs $89 per month per location.
The Shopify POS is incredibly convenient if you already have a Shopify plan. Youāll get basic POS features for free and upgrade as you scale your business. Plus, you wonāt find another POS that integrates as smoothly with your Shopify online store.Ā
Lightspeed is a terrific iPad POS for small and medium-sized retail businesses. The feature-rich software unifies management of all significant retail aspects, including customer relationships, employee, and inventory management. The platform also lets you choose your payment processor, which is convenient for price shopping.
Although Lightspeed is most famous for its retail POS, it offers purpose-built software for restaurant and golf businesses. You download the iPad app to use the POS on your iPad. Or, you turn your iPad into a complete POS system with LightSpeedās iPad hardware kit. The kit includes a LAN receipt printer, receipt paper, Bluetooth scanner, cash drawer, and iPad stand.
The POS system has a steeper learning curve than many alternatives. However, you get access to free 24/7 support and one-on-one onboarding sessions. So you shouldnāt have problems adopting this POS for your business.
Lightspeed is purpose-made for the retail business. Notably, the POS easily integrates with most major ecommerce platforms so that you can manage in-person and online sales in one location. In addition, the POS has a built-in catalog with more than 8 million items and supports bulk imports. Therefore, adding inventory to your POS is a breeze.
The company has transparent pricing. You can choose from LightSpeed Retail, Restaurant, or Golf. So youāre sure youāll get POS features that support your type of business or industry. The retail POS prices start at $69 per month. LightSpeed also charges 2.6% + 19Ā¢ for card-present transactions.
LightSpeed makes managing multiple locations a breeze. You can check inventory levels for each store, sync your location details with your Google My Business listings, set prices, set up tax, handle returns and gift cards, and generally manage your stores from one convenient location. LightSpeed also offers custom plans for businesses with multiple locations.
Finally, Lightspeed also offers month-to-month contracts, which you can cancel at any time at no extra charge. In addition, you get robust reporting with all plans, including 50+ built-in reports covering employee, revenue, and inventory performance.Ā
Most iPad POS software offers a free trial or free tier. However, Loyverse provides some of the most advanced POS features for free. You even get a loyalty program for free, which many competitors offer as an add-on service to their paid tiers.Ā
The best part is you can access the most critical POS features for free. Some of the features Loyverse offers include:
Loyverse also lets you choose your payment processor. The platform natively integrates with numerous top-tier payment processors, including Worldpay, Zettle, SumUp, and CardConnect. You also get a vast selection of payment processors in more than 30 countries.
The POS also easily integrates with your existing hardware, including an iPad, barcode scanner, kitchen display system, and cash drawer. And, with offline mode, you can continue to process payments, and the data syncs immediately after the connection is restored.
Finally, Loyverse has an easy-to-use and intuitive interface. So you donāt have to spend too much time on employee training. The POS works for most businesses, including restaurants, salons, cafes, and boutiques.
Again, Loyverse is free to use. You only pay for add-on features. The add-on features are also affordable. For example, youāll pay $5 per month for employee management, $25 per month for advanced inventory, and $9 per month for integrations.Ā
The softwareās main selling point is its robust loyalty program. You can set up a points reward program, scan loyalty card barcodes, view customer purchase history, and print customer addresses on receipts. All this is free with Loyverse.
Loyverse isnāt the most advanced iPad POS software. However, its free offerings make it a perfect choice for small businesses on a tight budget. Its affordable add-on services reduce ownership costs when youāre ready to scale.
SalesVu offers all the essential POS features, including employee scheduling, inventory and order management, and integrations. In addition, SalesVu has numerous sales-focused features you donāt get with your typical POS software. This is especially true with the higher-tier plans.Ā
The vendor offers purpose-built software for multiple industries, including:
This diversity means you can choose the relevant features for your business and industry. Additionally, SalesVu supports businesses with alternative billing, such as charging for decimal and fractional quantities. It also works just as well for companies that bill by the hour.
SalesVu offers an excellent feature set for its cheapest plan, including cloud-based multi-store reporting, multi-store management, employee permissions & shift scheduling, ecommerce and online ordering, and a basic loyalty program. Itās an ideal package for a small business wanting the bare minimum POS features at a reasonable cost.
Furthermore, SalesVu partners with multiple payment processors, so you can choose your favorite. The software integrates with your favorite business tools, including QuickBooks, Square, ZohoBooks, PlugnPay, and PayPal Zettle. The only major downside is that SalesVu doesn’t have an offline mode, rendering it unusable in case of an internet interruption.
SalesVu has successfully incorporated features you typically see with separate software stacks. For example, you get a website builder with all SalesVu plans, so you donāt have to pay for different software or even a web designer to digitize your business. Similarly, the software provides a loyalty program and ecommerce and online ordering with all plans.
SalesVu prices start at $100 per location per month. However, the Premium plan costing $500 per location per month, comes with high-level sales features that replace additional software stack. These include a CRM, marketing automation, AI-powered upsell & personalization, review booster, word-of-mouth marketing, and customer satisfaction management.Ā
Finally, SalesVu also offers outstanding add-on features to help boost sales. For example, the Waitlist & Reservation management app costs $15 per terminal per month. Youāll be able to create personalized reservations, set up wait times, send table-ready SMS, transfer table, and manage your reservation calendar. In addition, the app integrates with your POS, so you have all your information in one place.
There are many more POS systems to explore beyond just iPad solutions. Casting a wide net ensures you get the best solution for your needs. To this end, here is our recommended related content for your perusal.
There are terrific POS systems built for iPad. We tested at least two dozen software checking for critical factors like ease of use, inventory management features, sales and marketing tools, and integrations. Although TouchBistro is a restaurant-specific POS, it ticked all the boxes in our criteria and is the best of the pack.Ā
However, retail store owners arenāt left out. There are many more options to explore, including Shopify for unifying your online and in-person sales and SalesVu, which offers features to boost your bottom line. Just consider the critical capabilities you require before choosing your iPad POS system, and you wonāt go wrong.Ā Ā
Want to jump straight to the answer? The best small business POS system for most people is Square or Shopify POS.
Small businesses need a fast and simple way to check out customersāregardless of the customerās payment method or transaction environment. Things like tracking inventory, printing receipts, managing your cash drawer, and accurately tracking sales for bookkeeping purposes shouldnāt be a hassle for your employees or back office.
POS systems simplify payment acceptance and accounting while streamlining the checkout process for your customers. You can use this guide to find the perfect POS system for your small business.
The following reviews cover features, benefits, highlights, and recommended use cases for the best small business POS systems on the market today.
Square has quickly become one of the most popular POS systems for small businesses in nearly every industry. Thatās because they have such a wide range of hardware solutions to accommodate varying needs and checkout environments.
For small business retailers, quick-service restaurants, full-service dining, professional services, and so much more, thereās a good chance Square has an option that fits your needs.
For such a feature-packed POS solution, every piece of hardware from Square is surprisingly easy to use. Square accommodates contactless payments, online orders, phone orders, pickup and delivery, invoicing, and more.
You can choose from a wide range of POS hardware that works as a fixed register, mobile throughout your store, and even manage checkouts on the go.
All of these solutions make it ultra-easy to set up and use, regardless of the checkout environment.
Stands and Terminals start at $149 and $299, respectively. If you want a complete Square Register, pricing starts at $799. Financing is available for all hardware, and you can even get a free card reader.
Shopify is best known for its industry-leading ecommerce platform. But itās also an excellent option for small businesses that sell both online and in-person.
Thatās because you can manage all of your inventory, sales, and customer information from a single source of truth. It also has advanced inventory management features, including forecasting tools, so you can prepare your stock accordingly.
This is an excellent option for brick-and-mortar retailers that are expanding to online sales. It also works really well for ecommerce stores that want to establish a retail presence.
Keeping everything organized for your customers is another great perk. If someone buys a product online and wants to return it in person, Shopify POS can easily handle the transaction.
Customers can also buy online and pick up their purchases in your store. Letās say an in-person shopper wants something, but you donāt have the right color or size on-site. You can use Shopify POS to process the transaction and ship the right product to their homeāso you never miss a sale.
The setup and onboarding process is ultra simple. So you can get started right away and easily train your staff. If you have any questions, the Shopify support team is available 24/7 via phone, email, or live chat.
Best of all, Shopify POS is free with all Shopify plans. For those of you who want more advanced features, thereās a Pro version that starts at $89 per month.
For new users, you can try Shopify for free with a three-day trial and get the POS software included.
Lightspeed offers industry-specific POS solutions for retailers, golf courses, and restaurants. But the restaurant systems are ideal for small businesses, as they accommodate such a wide range of needs within the food and beverage industry.
This POS system is versatile enough for bars, cafes, quick-service restaurants, full-service dining, hotels, and more. If you sell food and drinks, Lightspeed has you covered.
Lightspeed has everything you need to scale your business and accommodate your customers. You can easily diversify your service offerings with online ordering and contactless delivery.
The POS system makes it easy to change your floor plan and adjust tablesāensuring your staff always knows where to go. This also helps you handle large group reservations without confusing your staff.
You can use Lightspeed to turn tables faster with tableside checkouts. The system also lets you set up QR codes for menus, ordering, and payments.
Menu modifications and custom orders? No problem. Splitting the check and accepting multiple payment forms from a single party has never been easier.
Lightspeed also syncs with third-party apps, like OpenTable, for reservations. It seamlessly integrates with popular food delivery services like UberEats and DoorDash.
Plans start at just $39 per month. You can try it free for 14 days with unlimited access to every POS feature.
Most modern POS systems come with payment processing. But Clover is unique in the sense that itās branded a payment acceptance solution first and a POS solution second.
But donāt think that Cloverās POS tools are an afterthought. Itās still a feature-packed solution with plenty of options for businesses in different industries.
You can use Clover to accept virtually any type of payment from your customers:
The list goes on and on. The software is fully encrypted and PCI compliant. You can also take payments without WiFi, and everything will sync when you connect to a network.
With Clover, most businesses get bank deposits the next day. Youāll also benefit from fraud protection of up to $100,000.
If youāre looking for a payments-first POS system thatās easy to use but highly sophisticated, look no further than Clover.
Pricing varies based on your business type and your hardware requirements. Plans start at $14.95 per month, and hardware ranges from $499 to $2,000+. Processing rates start at 2.3% + $0.10 per transaction.
Sign up now and get your first 30 days for free.
As your small business grows, you need a POS system that will grow with you. Having to change your POS system as youāre opening new stores will only complicate things.
But Vend is specifically designed to accommodate small businesses with multiple locations. You can easily expand without any downtime and accommodate your customers no matter which location theyāre visiting.
Vend really shines with its advanced inventory management features. It seamlessly tracks all of your stock in real time. You can easily transfer merchandise from one store to another and use the mobile stock-taking features to count items and reconcile your inventory.
All of your customer information can be collected during the sale process. But this only needs to happen once, as that same customer profile can be accessed from any location.
This makes it much easier for you to track and manage customer loyalty programs across every storefront. You can also segment your customer database to further personalize the buying experience.
Vend even has built-in employee management tools. Permissions can be managed by role, and you can set up sales targets to motivate your staff and track their progress.
The solution works with nearly any payment processor, and you can accept all of your customerās favorite payment methods from all of your locations.
Plans start at $69 per month if you use Vendās parent company for payment processing. Otherwise, you can get Vend POS starting at $99 per month.
Try Vend for free with a 14-day trial.
Every POS system offers the same functions. Thereās a way for you to add products or services to an order, accept a payment, and complete the checkout.
But the variations come in the details, which is where you need to look closely as youāre evaluating different POS solutions and comparing them side by side. Beyond pricing and feature lists, you need to consider the factors that relate to your specific small business and operations.
We used the key criteria below to narrow down our list of the best POS systems. You can use the same considerations as a buying guide to find the best option for your unique needs.
The first thing you need to consider is your checkout environment.
Do you want a POS system thatās fixed to a specific location on a countertop? Or do you want the flexibility to process orders from anywhere in your store?
From there, think about how the POS system should function for your business type. For example, a quick-serve coffee shop may want a POS solution with a customer-facing screen. But that likely wonāt be necessary for a local dry cleaner or hair salon.
Some POS systems are simply a screen with software. But youāll need to sync them with a separate register and payment processing system.
Others are all-in-one payment stations with built-in cash drawers and credit card machines. So youāll need to think about which hardware solutions make the most sense for your checkout process.
POS systems and payment processing go hand-in-hand.
If youāre already in business and happy with your payment processor, you shouldnāt get a POS system that forces you to change. So you should immediately see if the system is easily compatible with your processing system.
Others may want an all-in-one system for POS and payment processing from a single provider. While this option keeps things simple, it doesnāt always translate to the lowest possible rates. So thatās another factor youāll need to consider.
You donāt want to turn away any paying customers. So look for a POS system that can accommodate any type of paymentāincluding all major credit cards, cash, checks, Apple Pay, Google Pay, and other alternative payment methods.
Mobile POS systems are critical for small businesses that operate on the go.
Letās say you have a food truck or youāre a retailer that sells shirts at local farmer’s markets. Or maybe you have a restaurant and want your servers to take orders and process payments tableside.
You need something thatās not only small and easy to transport but also something that works from anywhere. You shouldnāt have to rely on a stable internet connection to check out customers or process payments. Look for a system that can still operate offline and then sync your records when youāre able to connect.
Conversely, small businesses that want a register fixed in a specific location in the storefront donāt have to worry about mobility.
Since POS systems come in all different shapes and sizes, the setup process varies greatly as youāre comparing different solutions.
Some systems are ultra-simple and donāt require any specific hardware. You can just download software to a smartphone or tablet and turn any device into a mobile POS system.
Others do come with hardware components, but theyāre ready to go out of the box.
Generally speaking, the more hardware you have, the longer the setup takes. Complete POS stations with built-in cash drawers and payment acceptance may require a bit more setup.
Beyond the initial setup, you need to think about the day-to-day use by your staff. Look for systems that are easy to use and donāt require specialized training. It should be an easy fix if someone on your team adds the wrong item to an order or needs to print a new receipt.
Otherwise, glitches and errors with your POS system could lead to long lines at your registerāor worse, prevent you from accepting certain payments.
POS systems contain sensitive data. Many of you are collecting information about your customers, and some of you might even be storing credit card details when youāre processing payments.
You need to make sure your POS system is PCI compliant to avoid fines and potentially damage your companyās reputation. If thereās a data breach and information about your customers gets stolen, people might think twice before they visit your business again.
This is also important for small businesses that sell online in addition to in-person. Both digital and physical transaction environments must be secureāand you can find plenty of options that are safe with the POS systems reviewed in this guide.
Square and Shopify POS are the two best POS systems for small businesses on the market today. If you want a simple solution with lots of options for hardware, Square has you covered. Shopify POS is perfect for small businesses that want to sell online while syncing inventory with in-person sales.
Be sure to consider the hardware, payment acceptance capabilities, mobility, setup, security, and recommended use cases as youāre evaluating the top picks on our list.
National Funding is a terrific lender for small businesses seeking quick, hassle-free financing. The private lender has been in business since 1999 and has disbursed more than $4.5 billion in capital to over 75,000 small businesses nationwide. National Funding offers multiple loan products, including working capital loans, small business loans, short-term business loans, and equipment financing.Ā
The lender also serves numerous industries, including commercial trucking, agriculture, construction, and restaurants. Specifically, businesses with bad credit prefer National Funding for its relatively lenient qualification requirements.
However, how does National Funding fare compared to other similar lenders? Weāve created this review to help you determine if this lender can satisfy your funding needs.
National Funding wasnāt on our top list of best startup business loans. However, the lender fared much better when we tested the best merchant cash advance services. As a result, we ranked National Funding as the best merchant cash advance service for long-term funding.
If youāre looking for a startup business loan, consider choosing Upstart or Fundera. Upstart offers quick personal and business loans to businesses with no credit history. Check your rate for free on Upstart with no hit to your credit score. Or, if youāre looking to compare small business loans, Fundera is a loan marketplace with dozens of lenders in its network. Fill out one application, and Fundera will match you with multiple lenders to find the best terms.
Read more about our top picks for the best startup business loans and see which is best for you.
National Funding specializes in working capital loans and equipment financing. However, small businesses looking for alternative funding options are still welcome. The lender also offers small business loans, short-term loans, and merchant cash advances.
National Funding also provides loans specific to underserved businesses. These include business loans for women, minorities, and veterans. The lender also has several partner programs, including the affiliate & referral program, strategic partner program, equipment vendor program, and broker services program.
National Funding is one of the private lending pioneers with a decades-long track record of serving small businesses in most industries. The company was founded in 1999 and has since expanded from working capital loans to include bridge loans, credit loans, equipment leasing, merchant cash advances, unsecured loans, and credit card processing.
National Funding is also a corporate product sponsor of California sports teams, including the San Diego Padres and USC Trojans. Some of the lenderās investors include Wells Fargo Capital Finance and CapitalSource. The alternative lender has served over 75,000 businesses and isnāt expected to stop soon.
National Funding also recently made a strategic growth investment in Finova Capital, a merchant finance partner with decades of experience. Finova Capital is best known for its point of sale (POS) equipment financing solutions, merchant cash advances, term loans, and working capital loans. This partnership is expected to grow National Fundingās reach and financial services.
National Funding doesnāt openly advertise how much its loans cost. Youāll need to apply for a loan and receive an offer to get the exact quote. However, you can always decline the loan offer if youāre unhappy with the terms.
The specific interest rate depends on your credit score and other financial data. The lender also charges interest based on the type of loan. This can be simple interest for equipment financing or a factor rate for small business loans.
The cost of a National Funding loan largely depends on the type of loan. The interest rate may vary depending on your credit score and other financial data. However, your repayment options are limited to daily or weekly payments.
National Funding charges a factor rate for its small business loans. Term lengths vary between 4 to 24 months. Frustratingly, the lender doesnāt advertise the specific factor rate. But, a little digging shows you can expect a factor rate between 1.10 and 1.17 for small business loans. But, again, the factor rate varies depending on the loan’s terms. The lender also charges an origination fee for its small business loans.
The lender also charges a fixed simple interest rate for equipment financing. The interest rates start at 4.99%, depending on the terms of your loan. However, the interest rate varies between 15% ad 30% for most loans. You can also expect an origination fee between 1 and 3% of the total loan amount. The loan terms vary between two and five years.
Finally, National Funding doesnāt charge interest on its merchant cash advances. Instead, you pay a set percentage of your credit card sales. Thereās no deadline to repay the loan. The lender charges its fee until the loan is repaid.
National Funding is far from the cheapest lender on the market. There are some great alternatives if you prefer to price shop before applying for a loan. Plus, most lenders are more transparent than National Funding, making it easier to find a fair deal.
For example, Upstart offers multiple loans, including credit card repayment, debt consolidation, and car refinancing loans. And you can calculate your interest rate before applying for the loan without affecting your credit score. Most Upstart loans have an APR of 25.05% with 60 monthly payments.
Similarly, Fundera is open about its interest rates and additional charges. The loan marketplace lets you compare rates from different lenders. You only need to fill out one application, and Fundera will connect you with multiple potential lenders to compare interest rates. Again, youāll find out how much interest you will pay before applying for the loan.
National Funding doesnāt charge a prepayment penalty. Instead, the lender rewards you for paying early. For example, you can save 7% of your remaining short-term loan balance if you repay within the first 100 days of receiving the loan. Similarly, when you pay the loan early, you get a 6% discount on the remaining equipment loan balance.
You can also apply for a National Funding loan without impacting your credit score. Thereās also no commitment required when you apply for the loan. You can reject the terms with no additional fee.
Finally, National Funding also provides a loan specialist to help you understand your loan options. Again, this service is free. The Funding Specialist will also help you customize your loan to get the best interest rate and repayment terms the lender can offer.
Startups have a notoriously difficult time accessing funding. But, if youāre a startup with at least one year in business, you may qualify for a National Funding small businesses loan. In addition, startups with at least six months in business may be eligible for equipment loans from National Funding.
Although National Funding didnāt make it on our list of the best startup loans, it might still be an option worth exploring. Hereās what makes National Funding a good or bad lender for funding your startup.
Easier to Qualify than Bank Loans: National Funding has some of the lowest qualification requirements for an alternative lender. Its qualification criteria are certainly more lenient than traditional banks. For example, you can qualify for a small business loan with a credit score as low as 500 and only one year in business.
Similarly, equipment financing loans have a minimum credit score requirement of 575. You can also qualify for the loan with just six months in business. Some startups easily meet the qualification criteria.
Customized Loan Options: National Funding understands that business funding isnāt a one-size-fits-all affair. Therefore, the lender offers customized loan options to fit your specific funding requirements. This way, youāre guaranteed the type of funding that solves your unique cash flow or investment problems.
The lender also puts you in touch with a Funding Specialist. Thereās no guesswork since the advisor helps you during every step of the application process. The financial advisor will also help you find the best funding option for you.
Quick Funding Times: This lender has short funding times, a lifeline for businesses needing immediate cash injection. The application takes only a few minutes. Plus, you can receive funding in as little as 24 hours after approval.
You donāt have to wait long for approval, either. Youāll receive a call from the Funding Specialist within 24 hours of your application. This means you can receive funding in as little as two business days after submitting your application.
Potential Tax Benefits: You may be able to deduct the total price of qualifying equipment from your tax returns. This benefit is subject to the terms of Section 179 Tax Deduction. In addition, you may be able to deduct up to 100% of purchased or leased equipment up to $1,080,000.
You can contact a National Funding advisor or a tax professional to determine your qualifications.
Simple Application Process: The National Funding application process is quick and straightforward. To begin the underwriting process, you only need to complete a one-page online application. Then, the lender does a soft credit pull that doesnāt affect your personal credit score.
Youāll be asked to submit documentation such as bank statements if you qualify. Again, youāll be in touch with a financial advisor to help you through the process. The underwriting process is fast and smooth if you have the necessary documentation in order.
Prepayment Incentives: National Funding offers prepayment incentives where most alternative lenders impose a prepayment penalty. You can save up to 7% of your remaining loan balance if you repay your loan in 100 calendar days.
Opaque Pricing: The most frustrating aspect of National Funding is its opaque pricing. You have no idea how much interest, origination fees, or extra costs youāll pay until you apply for the loan. That means you might waste time applying for a loan you cannot accept.
Short Repayment Schedule: National Funding only supports daily and weekly payments. Thereās no option for monthly payments. Regular payments may be a problem for startups with irregular cash flow.
Therefore, National Funding may not be the best option for a startup. Most competitors offer at least weekly or monthly payment options.
High-Interest Rates: The fact that National Funding isnāt transparent about its interest rates and fees is telling. The lender charges higher interest than most competitors. You can also expect extra costs like origination fees. Although these fees are standard, it makes the loan more expensive, considering the higher interest rates.
National Funding wasnāt on our top list of best startup business loans, but it is still a strong loan option. To get more information about our top startup loans, check out these top-rated companies:Ā
National Funding fares much better when you consider its merchant cash advance services. The lender recently shifted its focus to short-term, working capital, and equipment financing loans. However, it offers some of the best merchant cash advance services, especially if youāre looking for long-term financing.
National Funding charges a small percentage of your credit card sales until you repay the loan. That means there are no checks or invoices. Instead, the payments are automatic and fixed for your loan term so you can manage your cash flow effectively.
The are also no restrictions on how you can spend the money and no prepayment penalties, collateral, or fixed payback deadline. Again, a Funding Specialist will help you create custom loan terms suitable for your specific business.
Finally, National Funding has lenient qualification criteria for its merchant cash advances. You need at least one year in business and at least $3,000 in monthly credit card transactions. Plus, you can receive funds directly to your bank account within 24 hours after approval.
This merchant cash advance product is most suitable for businesses looking for long-term financing. Thereās no fixed deadline for repaying the loan. And you can work with the Funding Specialist to set a reasonable rate.
National Funding offers long-term cash advances for small businesses struggling with cash flow. Itās also a terrific choice for its lenient qualification requirements. However, there are other equally good options.
Hereās a quick look at how National Funding compares to the top merchant cash advance services.
National Funding offers three primary business loans: small business loans, equipment financing, and merchant cash advance services. Youāll need to look elsewhere if you need additional financing options.
Most small businesses may find National Funding loan offering limited. For example, National Funding doesnāt offer SBA-backed loans. Similarly, the lender doesnāt service invoice factoring, business line of credit, and long-term loans.
Additionally, National Funding is opaque concerning the actual cost of its loans. Youāll have to go through the application process before you find out how much youāll need to pay. Other lenders are more transparent.
Finally, National Funding business loans are more expensive than most competitors. You may want to price-shop before you decide this is the right lender for you. National Funding may still be a good option if you donāt qualify for traditional term loans or alternative funding.
National Funding offers small business loans up to $500,000 with quick funding times. Similarly, you can get an equipment financing loan of up to $150,000 with no annual revenue requirements. However, these loan options are limited compared to other lenders.
Hereās a quick overview of the best business loans:Ā
National Funding is a terrific option for small businesses with less-than-stellar credit. You can qualify for a loan with credit scores as low as 500 and just six months in business. In addition, the lender has a quick funding time, perfect for companies that need working capital quickly.
However, there are pitfalls to be aware of. First, National Funding charges higher interest and additional fees than many alternative lenders. So, be sure to price shop for your loans before committing to financing from National Funding.
Are you searching for the latest web design statistics and trends?
With over 1 billion websites on the internet, it’s important that your site is well designed and provides a great user experience for your visitors.
In this article, weāll share the most up-to-date web design industry statistics. With these insights and trends, you can design a website that drives results for your business.
We’ve divided this list of web design statistics into specific categories to make it easier to navigate. You can jump to the section you’re most interested in using the links below.
The importance of web design is clear from these statistics. How your website looks can have a huge impact on your online presence and how people view your business.
Since 75% of people form their opinion of a website based on its design and it only takes them 0.05 seconds to decide whether they like it or not, it’s important your site makes a good first impression.
Luckily, with WordPress, it’s easy to create a beautiful website, even if you don’t have any design experience.
With WordPress.org, the most popular website builder platform, you get access to thousands of free and premium WordPress themes. Themes instantly customize the appearance of your site including the layout, color, typography, and other design elements.
Plus, you can also use drag and drop page builders to easily create custom designs, or even design a custom theme from scratch.
It makes sense why WordPress is used by 43.2% of all websites on the internet.
To get started with WordPress, see our detailed guide on how to make a WordPress site.
Considering that mobile devices account for about half of the web traffic worldwide, it’s essential that your website design is optimized for mobile users.
To easily design a responsive website, you can use a WordPress theme to ensure that it looks equally great on mobile phones, tablets, and desktops. Check out our recommendations for the best responsive WordPress themes.
Aside from how your mobile website looks, you also need to consider how fast it loads. Increasing mobile site loading speed by just 1/10th of a second results in higher conversion rates.
See our guide on how to speed up WordPress performance to enhance the user experience, boost conversions, and improve SEO.
The statistics above will give you an idea of what design elements your website visitors appreciate the most, as well as any elements you could do without, such as Google Fonts.
High-quality images, color, and videos are the top visual elements consumers appreciate in website design. But, 70% of small business websites lack a call-to-action on the homepage.
While your design might impress visitors, if you don’t have a call-to-action, you won’t be able to convert those visitors into leads or customers.
You can redesign your website for higher conversions by following this tutorial on how to add call to action buttons in WordPress.
User interface (UI) and user experience (UX) are two common terms used in the web design industry. Both are important for creating a successful, user-friendly site design.
UI refers to the screens, buttons, toggles, and icons that a user interacts with when visiting a website. While UX refers to the entire interaction a user has with a website and how they feel about it overall.
As you can see above, Gen Z users prefer UX/UI design that is highly personalized. See this guide on how to show personalized content to different users in WordPress.
In addition, 31% of people think that an engaging user experience is a top priority for website designs.
There are multiple easy ways you can make your WordPress website more engaging. For example, you can add interactive content like conversational forms, infographics, or quizzes.
What’s surprising here is that 23% of small retail businesses don’t have a website because they don’t know how to create one.
Yet, 53.9% of all retail eCommerce was expected to be generated via mobile devices last year.
If your retail business doesn’t have a website, you’re missing out on a ton of sales.
Like we mentioned earlier, creating a website is easy with WordPress and WooCommerce. Simply follow our tutorial on how to start an online store for step by step instructions.
In eCommerce web design, 85% of shoppers say product information and pictures are important to them when deciding which brand or retailer to buy from.
To improve your WooCommerce design and generate more sales, read this tutorial on how to customize WooCommerce product pages.
Employment of web developers and digital designers is projected to grow 13% from 2020 to 2030, much faster than the average for all occupations.
WordPress developers are in especially high demand, since WordPress powers 43.2% of all websites.
If you’re interested in becoming a WordPress developer, you can get started by reading our guide on how to learn WordPress for free.
Another interesting statistic is that the cost of a custom WordPress site or theme is between $3,000 and $15,000 dollars.
But, if your small business doesn’t have the budget, you can easily create a custom WordPress theme with a plugin like SeedProd.
SeedProd is the best drag and drop website builder for WordPress. It allows even complete beginners to create custom WordPress themes and page layouts, without editing any code.
Plus, SeedProd comes with ready-made themes and templates, color schemes, font pairings, design-related blocks, and more.
To get started, follow this guide on how to easily create a custom WordPress theme.
List of Sources
Adobe, Top Design Firms, Google, Deloitte, Statista, GoodFirms, IBISWorld, U.S. Bureau of Labor Statistics, Digital.com, SWEOR, Siteefy, W3Techs, Toptal, HubSpot, Forrester, Small Biz Trends, KoMarketing, Wilderness Agency, WPEngine, IsItWP, Hootsuite, WebFX, Neil Patel
We hope these website design statistics will help you make the best design decisions, whether you’re designing a brand new website or redesigning an existing one. You may also want to check out our pick of the best web design software and best SMTP services to improve your email deliverability.
If you liked this article, then please subscribe to ourĀ YouTube ChannelĀ for WordPress video tutorials. You can also find us onĀ TwitterĀ and Facebook.
The post 45+ Web Design Industry Statistics and Latest Trends for 2022 first appeared on WPBeginner.
Many business owners may require an external source of financing at some point. Whether youāre launching a new business, bridging a cash flow deficit, or expanding a business, itās essential to consider your financing options carefully. The two most popular options are taking a business loan or applying for a business line of credit.
A business loan is the best option for most people. It allows cash-strapped small businesses to finance a significant investment, a major acquisition, or expansion, usually with fewer limitations and lower interest rates. However, the comparison isnāt always this cut-and-dried.
Read on to find out which financing option suits your specific business needs.
No matter your company size or capital needs, weāve identified the top 11 best business loans available. Read our in-depth reviews on each to see which might be the best fit for your company and future plans.
A business loan is a type of fixed-term financing typically offered by banking institutions. The bank or financial institution gives you a lump sum that you repay with interest. Youāll make regular payments until you repay the principal plus interest.
You can use a business loan for multiple things, including purchasing business assets, expansion, or paying off business debts. You will likely need to specify the purpose of the funds in your loan applicationāand may need to show proof you are using the funds for that purpose.
For example, you can request a loan to purchase equipment. Often you will then be unable to use the funds for any other purposes, such as repaying debts or paying employees during a lean month.
There are multiple types of business loans, including:
Traditional Term Loans ā This is the most common type of business loan. The lender offers you a lump sum which you pay off regularly on a fixed repayment schedule. Most of these loans require collateral.
Small Business Administration Loans ā The Small Business Administration (SBA) guarantees loans for small businesses. For example, the SBA may offer to repay 85% of your loan up to a certain amount.
Unsecured Business Loans ā These loans work just like traditional term loans, except you are not required to put up collateral to obtain funding. These loans tend to have higher interest rates and stricter credit score requirements.
A line of credit is more like a credit card than a business loan. First, the lender designates a sum of money up to a certain amount. Then, you can access the funds as needed and repay them over time.
Additionally, youāll only pay interest on the borrowed amount. You can replenish your line of credit as you repay part or all of the borrowed funds. Then, youāll be able to access the full line of credit once more.
There are different types of LOCs. The first is a secured line, also called an asset-based line. You must provide collateral to qualify for the line of credit. Examples include real estate, personal assets, and business cash.
The second type of LOC is the unsecured line of credit. You donāt need to provide collateral. However, this option might be more expensive than a secured LOC. Lenders typically offer high-interest rates and fees to cover their risk.
Generally, a business loan offers more flexibility. For example, you can apply for an equipment loan and use the equipment as collateral. Thereās also the possibility of the SBA guaranteeing part of the loan if you qualify for its programs.
Finally, though a business loan may be harder to qualify for, youāll benefit from lower interest rates. This case is especially true compared to an unsecured line of credit.
You can borrow a business loan from many different types of lenders, including traditional banks, the Small Business Administration (SBA), and online lenders.
Similarly, you open a line of credit with a bank, direct lender, or the SBA. However, more lenders offer business loans than lines of credit. You shouldn’t have difficulty finding a line of credit if you meet the requirements.
Still, business loans offer more diverse options and lenders. This diversity makes it easier to price shop. Youāre also more likely to find a good deal. For example, some lenders are willing to beat the competitionās interest rates or loan terms.
Business loans typically offer larger borrowing amounts. You can borrow anywhere from $500 to $5,000,000. Additionally, you can get a short-term loan for smaller amounts and pay it off in six to 24 months. Itās a good option for short-term expenses like paying seasonal employees or purchasing inventory, or to cover an emergency or lean time when you know more income is a few months away.
Similarly, you can apply for a long-term loan with a three or five-year term to purchase equipment or construct a new warehouse. Some business loans have an extended period of up to 10-30 years.
A business line of credit typically offers lower amounts. For example, most lenders offer a maximum of $250,000. A LOC is designed to have a shorter term, hence the lower credit amount.
Business loans typically have lower interest rates. This is especially true for secured loans.
Business loan terms are also clearly structured. For example, you know exactly how much interest you need to pay and when your payments are due. These payments are also scheduled so you can easily forecast your cash flow.
A line of credit is less rigid. For example, repayments are unscheduled, making it challenging to calculate interest. You can also draw from your line of credit anytime, complicating interest calculations.
Additionally, many LOC lenders charge a monthly or annual maintenance fee. So youāll still pay fees even if you do not use the line of credit. You can also expect other commitment fees whether or not you use your credit line.
So, before signing the agreement, ensure you understand your LOC’s interest rate and loan terms. Ensure you read the fine print and check for potential hidden fees.
One benefit of a line of credit is the flexible payment schedule. You only start paying interest when you draw from your credit line. On the other hand, youāll need to pay interest on a bank loan as soon as it is issued.
Business loans generally have stricter approval criteria. Some of the things banks and online lenders consider include:
Business loans typically have stricter credit score requirements, too. Most lenders will require your business and personal credit reports. Some lenders may have looser credit standards, but in exchange youāll most likely need to provide collateral and pay higher interest rates.
A line of credit is generally easier to qualify for. Lenders primarily look at your personal or business credit score, years in business, and annual revenue. You have a good chance of qualifying for a secured line of credit, even with an average or poor credit score, if you have enough income. Lenders may also overlook your credit score in favor of collateral. Though again, you may still see higher interest rates if you have poor credit.
Finally, a line of credit is a good option for boosting your credit score. Most new businesses do not qualify for traditional business loans. So a LOC can help you build a creditworthiness history that could make you eligible for a business loan in the future.
Generally, a line of credit has a faster funding time. This is because there are fewer requirements and qualification criteria to process. Most banks and credit unions take several days to approve loans. It can also take additional time before the funds are available after approval.
Additionally, many lenders prefer not to underwrite one-time small loans. This is primarily the case for unsecured loans. Therefore, a LOC can be a good alternative for accessing funds quickly.
However, this scenario isnāt always true. For example, some online lenders approve loans the same day or the next day. But, since LOCs are generally easier to qualify for, a line of credit is often the best option in an emergency or cash flow crunch.
Many business owners prefer a fixed interest rate. This type of interest is constant for the term of the loan. However, variable interest rates change depending on the market conditions.
Business loans typically let you choose between a fixed or variable interest rate. This flexibility is vital for people who prefer predictable overheads. A fixed interest rate also makes financial planning and analysis easier.
Fixed rates are also easier to understand. You do not have to perform complex calculations to determine how much youāre expected to pay monthly. This simplicity makes it easier to price shop and compare lenders.
Interest rates of LOC change depending on the prime rate. This structure means you pay a different interest rate every time you draw from your credit line. The fluctuation can make it difficult to project your expenses and plan your finances accurately.
Additionally, a variable interest rate doesn’t protect you from sudden fluctuations in the rate. This unpredictability is concerning during times of high inflation and market fluctuations. As a result, you may end up paying much more than you initially anticipated.
However, a fixed interest rate isnāt always the best choice. Youāll pay the same interest if the interest rate increases. Regardless, itās desirable to have both options and choose the most suitable one for your borrowing needs.
LOC has the advantage of having a revolving credit. You draw from the fund any time you wish. You get access to the maximum amount of credit available whenever you need it. Plus, you have continuous access to the funds as long as you make regular payments.
Business loans are only available once. After that, youāll have to re-apply for another loan if you need more money. Therefore, you don’t get peace of mind that there are funds available when you need them.
Of course, youāll pay for the convenience of revolving credit with higher interest rates. But, on the other hand, you also qualify for lower borrowing amounts. However, these drawbacks are worth it for business owners who require consistent cash flow.
Many lenders charge an extra fee for repaying your loan early. Itās known as a prepayment penalty. The penalty is more common with business loans. Lenders attempt to recover some of the lost interest by charging a prepayment penalty.
A line of credit features flexible payments. Therefore, you can pay as much as you wish without extra charge. Or, you might opt only to pay the interest on the borrowed amount in a given month.
This flexibility comes in handy during lean months or if you have cash flow fluctuations. You also don’t have to worry about incurring extra fees on a good month. In addition, you can opt to repay your loan faster so you can access the maximum credit amount during lean months.
There are ways to avoid a prepayment penalty on your business loan. For example, many lenders allow you to repay up to a certain percentage of your loan in one payment. Similarly, some lenders reduce or scrap the prepayment penalty once youāve paid off a certain amount.
You can read your loan terms to find ways to avoid the prepayment penalty. This should also be an essential consideration when vetting lenders in the first place.
Business loans are generally the better option for small business owners. These loans are structured, ensuring predictability when planning finances. Business loans also have longer terms and lower interest rates, which are ideal for financing expansion or significant business purchases.
However, there are instances when it makes more sense to open a line of credit. For example, a LOC is a better option if you need emergency funds or you need to address a cash-flow deficit. A line of credit is also a terrific alternative to spending your emergency fund.
Securing external funding is part and parcel of operating a small business. The two main options are secured or unsecured small business loans. While unsecured loans have advantages, secured loans are the better option for most people.
Secured loans are more accessible, offer higher borrowing limits with lower interest rates, and can be paid back over an extended period. This post covers everything you need to know about secured vs. unsecured business loans to help you make an informed decision.
The Quick Sprout team has done a lot of research into where to get the best business loans right now. The top 11 are below and you can read our in-depth reviews on each to see which might be the best fit for your business needs.
As the name suggests, a secured business loan requires the borrower to provide collateral to secure funding. The lender uses the collateral to offset the risk if the borrower defaults on the loan. The lender may seize the collateral to satisfy the debt and interest if you default on your payments.
There are many types of secured small business loans, including:
Traditional Term Loans ā This is the most common secured small business loan type. The terms are straightforward. You receive a lump sum from the lender. Then, you repay a portion of the principal and interest every month.
Business Line of Credit (LOC) ā This type of secured loan is also called revolving credit. It works like a credit card. The lender gives you access to a specific amount of money, known as a credit line. You can draw from your credit line as needed. Your credit line is replenished as you repay the debt.
SBA Loan ā This type of loan works like a traditional term loan. However, the Small Business Administration (SBA) guarantees part of the loan, so youāre not liable to pay the total amount. For example, Standard 7(a) allows you to borrow up to $5 million. In addition, the SBA may guarantee 85% of the loan to $150,000 and 75% if you borrow more than $150,000.
Self-Securing Business Loan ā This type of loan doesnāt require additional collateral. Instead, you can use your purchase as collateral. For example, you can put up a tractor that you want to purchase as collateral for the loan used to buy it. Itās a great option if you donāt want to compromise your personal or business assets.
On the other hand, unsecured loans donāt require you to put up collateral as security. Instead, the lender trusts that you will honor your commitment. However, some lenders may need a personal guarantee that youāll repay the loan.
Similarly, there are several types of unsecured business loans, including:
Working Capital Loans – This short-term loan covers your day-to-day business expenses. For example, you can use the working capital loan to meet payroll or keep the machinery running.
Unsecured Term Loans – This loan type works like a traditional term loan. The only difference is the lender doesn’t require collateral to process your loan request.
Revolving Credit – This loan provides you with a line of credit (LOC) to draw from at any time. Again, the lender doesn’t require collateral to advance a LOC.
Overdraft – A lender provides a loan or credit limit up to a certain amount. You can use these funds in pre-agreed installments. The lender charges interest on the borrowed amount.
Other unsecured business loans include business credit cards, merchant cash advances, microloans, and government-backed unsecured loans. Secured and unsecured loans are equally diverse and tailored to your funding requirements.
Many lenders offer secured and unsecured loans. For example, most banks, credit unions, and financial institutions service secured and unsecured loans. You can go through the requirements for each loan type and decide the one you are most likely to qualify for.
Other potential lenders include online lenders, crowdfunding, and peer-to-peer lender. However, unsecured loans are inherently riskier for the lender. Therefore, most lenders require security such as collateral or a personal guarantee.
Although unsecured loans are widely available, youāll have an easier time qualifying for a secured loan. In addition, people with a poor or non-existent credit history have a tough time accessing unsecured loans.
The amount of money you need to borrow is critical when choosing between secured and unsecured loans. Generally, secured loans offer more funding than their unsecured counterparts. This is especially true if you provide valuable collateral, such as real estate, inventory, or equipment.
On the other hand, unsecured loans are primarily used for short-term expenses like paying seasonal employees or purchasing inventory. Depending on the lender, most unsecured business loans range between $1,000 and $100,000. Conversely, secured loans are available for up to $50,000,000.
Unsecured loans typically attract higher interest rates due to the inherent risk the lender takes on. Depending on the lender, you can expect interest rates between 7% and 30%. Unsecured loans are also short-term. Most lenders provide a loan term of 3-18 months.
Secured loans offer lower interest rates, especially if backed with valuable collateral. The interest rates vary between 2.5% and 13%, depending on the lender. You can also expect a more extended repayment period, usually between five and 30 years.
A secured loan is more likely to offer favorable interest rates and terms than an unsecured loan. Therefore, it is critical to be realistic about how quickly you can afford to repay unsecured loans. Some lenders also require some guarantee that youāll honor the loan terms.
For example, an unsecured loan may take a percentage of your credit card transactions or a personal guarantee. A secured loan may be a good alternative in this case since youāre putting up security either way. In addition, youāll benefit from a lower interest rate and an extended repayment period if you opt for the secured loan.
Secured and unsecured loans have different qualification requirements. These requirements reflect the risk involved with each type of loan. The typical considerations for a secured loan include:
A secured loan lender may consider other financials, including personal and business assets. As a result, secured loans have more stringent qualification criteria. Thereās also more paperwork involved. In most cases, secured loan lenders consider collateral the most critical factor when assessing loan applications. Therefore, secured loans typically have more lenient credit score requirements and terms.
Unsecured loan requirements zero in on your creditworthiness. The typical qualification requirements include:
Unsecured loans have fewer qualification requirements. You only need to prove that you can repay the loan. Otherwise, you may not need to file additional paperwork such as tax returns or a business plan. However, unsecured loans prioritize credit score, annual turnover, and time in business.
While secured loans have more qualification requirements, these requirements are less stringent. For example, a new business with a short credit history and low annual turnover may still qualify for a secured loan based on the strength of the business plan and collateral. However, such a business is less likely to qualify for an unsecured loan.
Secured loans have long application processes. The review and approval processes may be equally lengthy. It typically takes three to four weeks to receive funds. For instance, it may take time for the lender to assess the value of your collateral. Therefore, a secured loan might not be the first choice if you need funds immediately.
On the other hand, most of the information unsecured loan lenders require to assess your creditworthiness is available in your credit report. There are also fewer documents to process. As a result, you may receive funds in as little as 24 hours after successful application.
There are lenders who process secure loans quickly. However, a secured loan isnāt an option in an emergency in most cases.
You may be eligible for tax benefits if you take a secured business loan. For example, you may be able to write off the interest on the loan on your tax return. This is especially true if you use personal assets such as your home as collateral.
Unsecured business loans typically do not offer tax benefits. This downside may be enough to opt for a secured loan. However, there are conditions for qualifying for a tax break. For instance, you can only write off the interest if you use the funds for business-related expenses.
Itās equally important to consider whether a fixed or variable interest rate is more attractive. A fixed interest rate remains constant for the life of the loan. On the other hand, a variable interest rate fluctuates depending on the market.
Each option has its benefits. For example, a fixed interest rate is more predictable. You know exactly how much interest you must pay every month. This predictability is crucial for forecasting your finances accurately.
However, variable loans typically charge lower introductory rates. Variable interest rates are also typically lower than fixed rates. Youāll also pay lower interest if the overnight market rate goes down.
Either way, itās ideal if you have the option of either fixed or variable interest rates. Most secured loans offer this option. However, most unsecured loans only offer fixed interest.
Some lenders may offer variable interest for unsecured loans. However, the repayment period is too short for the variable rate to offer tangible benefits.
The term unsecured may be misleading. You are still obligated to repay an unsecured loan, including the agreed-upon interest. The lender has recourse in case you default. It doesnāt matter if you didn’t provide collateral.
For example, the lender may sue you for your personal assets or wages if you default on your payments. The consequences may include losing personal property such as your home or car. The court may also impose wage garnishments until you repay the outstanding loan.
The asset take-over terms of a secured loan are straightforward. You know precisely what is at stake from the beginning. Defaulting on unsecured loans puts your business and personal assets at risk with no prior warning or consideration.
Besides, most lenders are willing to restructure or renegotiate loan terms if you cannot pay. So, providing collateral doesn’t always mean that you will lose your assets in case of unforeseen financial difficulties.
Some lenders charge a fee for paying off your loan early. This fee is called a prepayment penalty. Lenders use this penalty to recoup some of the lost interest lost when you pay before the loan term ends.
Many secured and unsecured lenders prefer not to charge a penalty for repaying your loan before it is due. However, many unsecured loans charge a prepayment penalty. This is because of the high interest the lender loses when you pay early.
Read the loan terms to ensure that thereās some wiggle room. For example, many secured loans allow you to repay extra up to a certain amount in one payment. The prepayment penalty may also decrease as you repay your loan.
Unsecured loans are short-term in nature. So the lender might be less willing to waive extra fees. Short-term lenders have a smaller window of earning interest.
There are many reasons why secured small business loans are the better option for most people. These loans are more accessible to businesses with a poor credit history. Additionally, you can qualify for higher borrowing amounts that you repay over longer periods.
However, a secured loan isnāt always the best option. For example, an unsecured loan is a good choice if you need access to funds quickly. Regardless, weigh the pros and cons of each loan option carefully before making your final decision.
Disorganized customer service can quickly lead to lost business, dissatisfied consumers, and points against your reputation. To create a positive experience for everyone involved, your team needs a solution that boosts their confidence in handling customer issues while directing customers to the right places.
With a contact center or call center, your business gets a tool that ensures customers speak to the right person to resolve their problems. However, these solutions work differently, even though they serve a similar purpose. Before you buy one, know which services work best for your business.
The right call center or contact center service can transform your business and allow you to help more customers than ever. Explore these options to see which one matches your customer service needs.
You can read our full reviews of each call center service here.
A call center handles incoming and outgoing calls from customers to a business. Call centers are generally limited to voice communication. Call center agents typically handle customer questions and support, telemarketing, market research, and similar types of communication.
A contact center serves a similar purpose, but instead of being limited to phone calls, it uses omnichannel support. In other words, customers can contact agents by phone, chat, social media, email, or website contact forms, depending on which channels a particular business uses.
Call centers can prove a valuable tool for keeping your team organized and efficient. Hereās what you need to know about how they can help your business.
Voice calling is the primary feature of most call center services. It allows agents to answer incoming calls and make outgoing calls. For example, a call centerās voice calling feature lets an agent accept calls from customers who have questions, as well as make telemarketing calls for the business.
With this feature, customers have a direct connection with someone who can help them. It increases trust between customers and your brand when the customer knows someone is available to help them with their problem, whether they have a technical issue or want to return their purchase.
While voice calling once meant picking up the phone, todayās VoIP services make voice calling even simpler with the cloud. This method of voice communication allows for more flexibility among call centers, so they can handle multiple lines and create more efficiency with one-click calling systems.
Ideally, call centers come with the ability to direct customer calls, too. When calls go to the person who has the knowledge to handle specific questions or problems, customers walk away satisfied with their experience.
With call recording, you can store previous calls made with your call center. It allows you to reference previous inbound or outbound calls when necessary and save them as long as you have enough storage.
Call recording isnāt available with every call center, but itās a critical feature for improving the customer and agent experience. Agents and customers can rest assured that should something go wrong on their call, thereās evidence of what happened.
Additionally, call recording helps train new agents. When they can listen back over their previous calls, they can understand where they can improve and where they did well. That allows them to refine their script and help customers more effectively.
Video conferencing helps you connect with your team through video and audio. It improves collaboration by allowing you to make a call within your organization or to a client outside it. This feature can come with helpful tools, including screen sharing, that make it easier to communicate ideas and information.
Video conferencing can be hit or miss with call centers, and you may want to go with a contact center for this option. Contact centers often have more comprehensive services, whereas some call centers focus more on the phone aspect without giving other types of communication the attention they require to be useful.
Call centers and contact centers typically have voicemail service as an essential component. Many businesses canāt offer 24/7 customer service, especially by phone. With a good voicemail system, customers can leave messages so that agents can return their calls and help them when they are available.
Many call and contact centers can transcribe these messages to email or SMS. However, this depends on the service, and the transcriptions arenāt always accurate. If a customer has poor cell phone reception, for example, it can be difficult to understand whether you listen to or read their message.
Both contact and call centers usually have email and SMS services. Along with voicemail to email, these services typically allow you to send text messages to your customers for business communication. For example, with a contact list with customer emails and phone numbers you can send out promotions, deals, sale information, and more without interrupting their day with a phone call.
Many contact and call centers also let you use SMS in-house. The software allows you to open a new chat to get in touch on any device, even if they work from home. It creates more efficient communication so that not everything has to be a meeting.
Many businesses use social media to promote their products and engage with their audience. You wonāt typically find social media channels in a call center service, but contact centers offer more text-based options, like chat and social media.
Most customers interact with and discover brands on social media. Whether through ads or the brand account, having a reliable contact center that lets you answer customer questions and comments in one place increases engagement. It allows you to show customers youāre paying attention, and a contact center can condense your social media operations so that you donāt have to jump between each account.
Call center services have limited self-service options, and theyāre usually limited to finding basic information on your business. Contact centers allow customers to use keywords, frequently asked questions, and other scripted elements to get the information they need without contacting a customer service representative directly.
A self-service option in your contact center reduces the workload on your agents, resolves questions and issues faster, empowers the customer, and creates a more inclusive and convenient way for customers to get what they need. Self-service contact centers also lower costs, shorten call queues, and let your agents focus on answering complex, in-depth questions customers canāt find on their own.
Improving your contact or call center may mean choosing a call center service to support your agents. These solutions all have excellent capabilities for creating more efficiency and reducing overwhelm while boosting customer satisfaction.
Nextiva earns the best overall spot for enhancing your contact center. It uses the cloud to connect your team, so your agents can work from home and from anywhere in the world.
Its VoIP system is a quick setup, and itās affordable at $14.95 per user per month for its Essential package. That plan comes with unlimited voice calling, unlimited video calling, and free local and toll-free phone numbers. Plus, if you want to automate your service, you can do that with this plan.
Even the Professional package at $20.95 and the Enterprise plan at $26.95 are fairly cheap for what they offer. Professional adds collaboration tools, business texting, and voicemail to email and SMS. Enterprise offers call recording and voice analytics, so you have tools to help you train your agents and satisfy customers.
When your team isnāt around to field calls and messages, Go Answer is. Outsourcing your calls and messages to them means that no matter what time of day your customers need help, they can find it by phone, chat, SMS, and email. Go Answer has options to help your business no matter your industry, including:
Go Answer customizes their help to your business, and they can handle large call volumes. With Go Answerās free trial, you can try the solution for 30 days, and the company gives you a free quote tailored to the services you need.
TeleDirect specializes in managing reservations, order processing, and technical support. They work across varied industries and they handle outbound calls as well as inbound ones.
With TeleDirect, you can conduct market research and generate leads as well as register customers for events. TeleDirect works for businesses of all sizes, whether you need after-hours support or a 24/7 team to field calls. The company doesnāt publish its prices online, so you have to call to get a custom quote.
Five Star Call Center works for businesses that handle B2B and B2C calls. Its agents can generate leads, perform quality assurance, send payment reminders, and follow up on previous calls.
While Five Star Call Center offers a wide range of outbound call services, they specialize in:
These specialties make them work well for many different businesses, but if yours falls outside of those listed, you may want to try another service. The company is based in the United States, so it may not work well for all international businesses.
When you only need to handle overflow or after-hours calls, Signius may be the best choice. The company works to learn about your business before its agents handle your calls to become a more impactful part of your team.
They offer services that include setting up hotlines, customer care, taking orders, and functioning as a help desk. Signius makes it worth your while as a small business owner and offers a free consultation to determine your needs and pricing.
When you want to improve your call center or contact center, you can take some quick, simple actions to make sure you and your agents have all the tools for success.
Before you put your agents on a call, make sure they have all the training materials they need to understand their role. When you onboard clients correctly, you set them up to help customers effectively while maintaining their confidence in their role. Giving proper training can include:
By giving agents these materials from the start, they can do their jobs better. After all, even if you use tools to improve your call center, the tools are only as good as the team behind them.
With call center software like Nextiva, you give your team the necessary tools to reduce overwhelm and manage calls and messages appropriately. Call or contact center software can direct calls to the right person, provide self-help resources for customers, record calls, and enable your team to efficiently solve customer problems.
It reduces team workload while allowing you to help more customers in a shorter amount of time. Some software has a shorter learning curve than others, but by implementing it, you save your team stress and time in the long run.
Recording calls is one of the easiest and fastest ways to improve customer satisfaction and raise agent confidence in their calls. This practice should be part of your agent training, but it can help agents to listen over their previous calls to:
Most call center software has the capability to record calls, including Nextiva. While it protects your agents and customers, you can use it for training and reviews to maintain and boost your company’s reputation and service.
A script helps novice and experienced agents excel at their jobs. It sets the expectation for your business while allowing the agent to feel more comfortable with a model to refer to while on their call.
Have agents practice their script and even run through practice calls with more seasoned members of your team. Offer feedback on how to improve the script and incorporate it so that each agent has the best possible tools for communicating with customers.
Running a successful business goes beyond having a capable call or contact center. To get the most out of your contact center, you may want to look at how to run an email campaign, managing your online reputation, and how to market online.
Knowing how to use your call center to get the word out about your business will help you grow and improve how your team functions. Meanwhile, pay attention to your business analytics to help you understand what your audience wants and how your team can give it to them.
Want to just get started? Click here to sign up for Incfile and register your side hustle as a business today.
Side hustles are growing in popularity these days. The rising cost of living has forced many workers to pursue secondary and tertiary sources of income.
For others, a side hustle is a way to pursue their dreams and goals beyond a traditional career. Some want to create their own hours to travel, spend time with family and friends, or simply wake up whenever they want. Others want to escape the nine-to-five prison. And some just want to open up that online clothing boutique they’ve dreamt of since high school.
Creating a side hustle is hard, but it can also be very rewarding. When properly executed, a side hustle can help people achieve their dreams of doing work theyāre passionate about, making some extra cash, or sleeping better at night knowing they have an alternate source of income.
But it’s important to get started on the right foot.
Getting started on the right foot means registering your business as a legal entity. Whether it is an LLC, S-Corp, C-Corp, or sole proprietorship, you need to protect yourself and your business interests by registering with the state.
You can read our full list of reviews for each business formation service here.
Now that you know the importance of registering your business, here are the next steps to take to get your side hustle up and running:
When starting a side hustle, you’ll find that there are a lot of things that are easier than they look. In an increasingly internet-based economy, there are plenty of resources to help you start that are free or very low-cost.
For example, if you want to open up an ecommerce store, it doesn’t take much. You could set up a Shopify store in mere hours. Or if you want to start a blog, you can do so easily with WordPress. In both cases, you don’t need to know much about coding, web design, or how to set up a website because these platforms have made it so straightforward (and inexpensive).
If you are ever confused or run into problems, YouTube tutorials, how-to blogs, and free online courses are readily available to help you out.
What’s more, there are now plenty of business services that have subscription models or free trials to help you get started without breaking the bank. For example, if you need a business email address, G Suite offers a 14-day free trial and is only $6 per month after that). And if you need to create and send invoices, Wave offers free invoicing and personal accounting for businesses.
Of course, not everything is going to be easy when starting a side hustle. But with the right mindset and some perseverance, you’ll be surprised at how quickly your side hustle can take off and everything can fall into place.
It goes without saying that everything worth doing is going to require some effort. And starting a side hustle is no different. The difficulties that people have with their own side hustles vary based on what their source of income is, how much time they can allocate to it, and who they are as a person. However, there are some common difficulties that most individuals face.
The most difficult part of starting a side hustle is usually the beginning. When you’re first starting out, there are a lot of unknowns and you can’t be sure if your idea will actually work or not. This can be scary and it’s often what prevents people from taking that first step.
Another difficult part of starting a side hustle is time management. When you’re working on another schedule while trying to grow a business on the side, it can be tough to find the time to do everything that needs to be done. This is where prioritization and time management skills come in handy.
Finally, it can be difficult to stay motivated when starting a side hustle. Unlike working for another business, you probably won’t see a check right off the bat. When you’re putting in the extra effort and not seeing results right away, it’s easy to get discouraged and give up.
This is why it’s so critical to have a clear vision for your business and what you want to achieve. Knowing your “why” will help you push through the tough times.
Planning your business can seem stressful, especially if you have never done it before. A business plan is basically a roadmap for your business that will help you stay on track and achieve your goals.
Each business plan is different, but keep in mind that it doesn’t need to be perfect, nor does it need to be long. The best business plans are often simple and adaptable.
Here are a few things to consider throughout the planning process:
As a small business owner, it’s essential to have a clear idea of who your target customer is. This is often referred to as an “ideal customer profile” (ICP). Knowing your target customer allows you to focus your marketing efforts and ensure that you’re appealing to the people most likely to buy from you.
An ideal customer profile is a detailed description of your ideal target customer. It takes into account factors like age, location, gender, income level, and interests. By taking the time to create an ideal customer profile, you can ensure that your marketing efforts are focused on reaching the right people.
There are a few key steps to creating an ideal customer profile. First, you need to consider who would be most interested in your product or service. Then, you need to gather data about this group of people. This can include demographic information like age and income level, as well as psychographic information like interests and lifestyle choices.
Once you have this information, you can start to create a picture of your ideal customer. Keep in mind that your ideal customer profile is not set in stone ā it can change over time as your business grows and evolves. The important thing is that you have a starting point from which to focus your marketing efforts.
Your business model is how you plan to deliver your products and services to your customers. It is important to have a well-defined business model because it will help you to identify your target market, understand your costs, and determine your pricing strategy.
There are many different types of business models, so it is important to select the one that best fits your company’s strengths and weaknesses. For example, a subscription-based business model might be a good fit for a company that offers recurring or digital products and services. This type of model allows customers to pay a monthly or annual fee in exchange for access to your products and services.
In contrast, a marketplace business model might be better suited for a company that offers physical goods or services. This type of model allows customers to browse and compare different products and services before making a purchase.
Ultimately, the best business model for your company will depend on a number of factors, including the type of product or service you offer and the needs of your target market.
If you are creating your side hustle, chances are you already have a good idea of the products and services you want to offer. However, it is important to take some time to think about your offerings in detail.
What exactly are you offering? What are the benefits of your product or service? How is your offering unique? Taking the time to answer these questions will help you to create a clear and compelling value proposition for your side hustle.
Additionally, thinking about your offerings in detail will help you to identify any potential areas of improvement. For example, if you are offering a product, can you improve the quality or packaging? If you are offering a service, can you streamline the process or offer additional features?
By taking the time to think about your offerings in detail, you can ensure that your side hustle is positioned for success.
Estimating the startup costs for your side hustle is an essential part of the business planning process. Without a clear understanding of the financial investment required to get your business off the ground, it can be difficult to make sound decisions about how to progress.
There are a few key factors to consider when calculating your startup costs:
By taking all of these factors into consideration, you can develop a realistic estimate of the startup costs for your side hustle.
Researching your competitors takes time and effort, but it is essential if you want to stay ahead of the game. Here are a few tips for effectively researching your competitors:
First, take some time to identify your key competitors. Make a list of companies that offer similar products or services to yours. Once you have a list of potential competitors, narrow it down to the three or four that pose the biggest threat to your business.
Next, visit the websites of your chosen competitors and take some time to assess their strengths and weaknesses. Identify any areas where they are outperforming others and try to determine why this is the case. Likewise, look for any weaknesses or mistakes that you can exploit.
Finally, keep an eye on their activity on social media and other online platforms. This will give you an idea of what they are doing right and what could be improved. By keeping tabs on your competition, you can ensure that your business stays ahead of the curve.
Once you have a solid plan in place, it’s time to start setting up your business. This includes choosing a name and registering your business with the appropriate authorities.
A business name is more than just a label; it’s the first step in creating your brand identity. It’s important to choose a name that is both memorable and relevant to your industry.
The best business names are usually short and easy to pronounce, making them easy for customers to remember. You should also avoid names that are too generic, as this can make it difficult for customers to identify your business amongst its competitors.
Other factors to consider when choosing a name for your business include:
If you are stuck between a few different names, try imagining your business as a brand. Which name would work best as a logo or tagline? You can also try saying the names out loud to see which ones are the most fitting.
How you decide to register your business depends significantly on the business structure you have chosen. There are a few different kinds of entities you can set your business up as:
Once you have chosen a business structure for your side hustle, you will need to register your business with the appropriate authorities. This usually involves filing paperwork with your state, county, or city government.
You will also need to obtain any licenses or permits that are required for your business. The requirements vary depending on your business type and location, so it’s important to research what you’ll need before you get started.
Now that your business is validated and you have a plan in place, it’s time to start working on your brand.
Creating a strong brand is essential for any business, but it’s especially important for small businesses and side hustles. A well-defined brand can help you attract new customers and build loyalty among your existing ones.
There are a few key elements that you’ll need to consider when creating your brand:
When you are creating a logo for your business, there are a few things to keep in mind. You want your logo to be memorable and eye-catching. A simple, well-designed logo will be easy for customers to remember and will help to build brand recognition.
Additionally, your logo should be reflective of the overall tone of your business. If you are a professional service provider, your logo should convey that sense of professionalism. Conversely, if you are a more casual business, you can afford to be more playful with your logo design.
Keep in mind that your logo will likely be used in a variety of applications, from websites to print materials. Make sure that it is versatile enough to work well in any context.
If you aren’t sure where to start or don’t know how to design a logo yourself, there are numerous online logo makers on platforms like Fiverr and Upwork that can help you create a professional-looking logo for your business.
In today’s digital age, having a website for your business is more important than ever. Not only does it give potential customers a way to learn about your products or services, but it also allows you to reach a wider audience than you ever could through traditional marketing methods.
Start by choosing a domain name that is short, easy to remember, and relevant to your business. Once you have registered your domain, you will need to find a web hosting service. There are many different options available, so be sure to do your research to find one that meets your needs and budget.
Once you have secured your web hosting, it’s time to start building your site. If you’re not familiar with HTML, CSS, or Javascript, there are numerous drag-and-drop site builders that can help you create a professional-looking site without any coding knowledge.
Finally, don’t forget to promote your new website. Include the URL on your business cards and in any other marketing materials you use. You can also promote your site on social media or through online ads.
As a business owner, you know that creating content is essential for promoting your products or services. But with so many different types of content out there, it can be tough to know where to start.
A good place to begin is by thinking about what kinds of content will be most useful for your target audience. If you sell products, for example, you might want to create product videos or demo videos. If you offer services, you might want to create how-to guides or case studies.
Once you have a general idea of the type of content you want to create, you can start brainstorming ideas for specific pieces. Remember, your goal is to create content that is informative and helpful to your audience.
With that in mind, consider what kinds of questions they might have about your products or services, and make sure your content provides answers.
Once you have your online platform set up, you’re ready to start selling! When doing so, there are a lot of factors to consider, including marketing, pricing, and tracking your sales.
To market your products or services, you’ll want to take advantage of all the channels at your disposal, including social media, email marketing, and online ads. You’ll also want to make sure your website is optimized for search engine ranking so potential customers can easily find you when they’re searching for what you sell.
As you create your marketing materials, be sure to focus on the benefits of your products or services. What needs do they address? How will they make your customers’ lives easier?
If you plan on advertising, make sure to A/B test different ad copy and strategies to find what works best for you. It’s also important to keep track of your marketing efforts so you can see what’s working and what isn’t.
When setting prices for your products or services, it’s important to consider the total cost of goods sold (COGS). This may include:
You’ll also want to make sure your prices are competitive with other businesses in your industry. Take a look at what others are charging for similar products or services, and adjust your prices accordingly.
It’s also important to consider the perceived value of your products or services. In other words, how much do customers believe your products or services are worth? This can be influenced by factors like your branding, the quality of your products or services, and customer reviews.
Once you start selling, it’s important to track your sales so you can see how well your business is performing. There are a number of different software programs that can help with this, including:
If you use a platform like Shopify or a CRM tool, that software will be able to give you analytical insight right away.
In addition to tracking your sales, you’ll also want to keep an eye on your website’s traffic. This will give you an idea of how many people are visiting your site and what kinds of products or services they’re interested in. Key metrics to pay attention to include:
You can track your website’s traffic using Google Analytics or another similar tool.
Once you begin to get traction, you’ll probably want to get more customers and grow your business. There are a number of different ways to do this, including:
You’ll also want to keep an eye on your finances and make sure you’re reinvesting enough money back into your business to support its growth.
Hiring people doesn’t have to mean paying them a salary and working with them full-time. There are a lot of inexpensive hires you can make that can prove invaluable to your business.
For example, a virtual assistant (VA) can help with tasks like customer service, project management, and basic management tasks that you may not have time for. You can find VAs on platforms like Fiverr or Upwork.
You can also hire contractors to help with specific projects as needed. For example, if you’re looking to improve your website’s SEO, you could hire an SEO expert to help you out.
Interns are also an excellent option, especially if you’re a small business or just starting out. Interns can help with a variety of tasks, and they’re often willing to work for free or for very little pay.
If your side hustle is beginning to take off and you’re ready to start scaling, you may need additional funding. There are a number of ways to get funding, including:
You’ll want to do your research and choose the option that makes the most sense for your business.
Scaling your business can be an exciting time, but it’s also a lot of work. Be prepared to put in the extra effort and you’ll be on your way to success.
