Mobile Payment Systems: 3 Questions to Ask Now

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Mobile payment systems and mobile businesses have been growing at rapid speeds, providing high quality goods and services at different, convenient locations. Most notably, food trucks are leading in this category, but there is no limit to business who are looking for mobility. This trend is not slowing down anytime soon. Mobile business success is dependent on innovation in mobile payment systems in order to provide secure infrastructure and solutions anywhere you take your business. Here are three questions you need to consider before going mobile.

3 Questions to Ask About Mobile Payment Systems

Why should I take my small business mobile?

Running a business out of a truck is a great way to keep overhead costs down while you’re weathering the instability of being a startup. This method also allows you to experiment while developing your business plan. There is no risk of investing in the wrong brick and mortar location and the implications that may have on your bottom line. Business is all about location, location, location, and mobile businesses have the upper hand in this department. Saving yourself some money will please your customers, as you’ll find that you are able to lower your prices and become more competitive.

How much does a mobile start-up cost?

As with anything, prices can vary greatly, but the typical price tag is $20,000, with the largest cost attributed to the vehicle itself. However, for $20,000, you can have nearly everything you want and need to get your business off the ground (including licenses permits). The truck will end up running around $8,000. The largest price tag will go to customizing your business on wheels. In additional to basic shelving, lighting, and more, it is important to put care and class into the mobile business to aesthetically give it a leg up on any competition.

What should I take into account?

Going from a stationary business to a mobile one can be difficult because there are more factors to consider. Where are you going to park? How are you going to wire the inside for lighting? How are you going to keep it secure? This business model makes it even more important to know exactly who your customer is and what he or she is doing, and where. Hit the streets and track them down where they are, and then select your strategy and parking accordingly. You can reach out to the American Mobile Retail Association and local government offices to get information on regulations and business codes to ensure that you’re starting off on the best foot.

Looking at mobile payment systems for your business? Take your business on the road with Payline. We have the solutions you need (and we make a pretty fun travel companion!).

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