Sell products or services FAQs
There are many types of POS systems to choose from, and sales representatives can be rather aggressive, which can make it difficult to make the best choice for your business. A basic system can help you process sales, but most offer many more features such as inventory, accounting, and security features. Additionally, you'll need payment processing, which may be included in the POS bundle or sold separately.
To help you find the best POS systems for your business:
Take careful notes while you speak with the vendors so you can compare products and services. Once you receive your quotes, estimate how much the systems will cost you in actual use using projected sales numbers. When you are ready to purchase, carefully review the terms of the contract. If you do not review the contract carefully, you may find yourself locked into an expensive long-term agreement that may be difficult to get out of.
Not all online retailers are required to pay local and state taxes, yet. Currently, large retailers are starting to charge and collect state taxes. Smaller companies are often exempt from collecting taxes if they do not sell over a certain amount of product. However, soon small companies may have to collect state taxes as well. To charge state taxes correctly, you need to know what the state taxes are. If you use a credit card processor or a point-of-sale system connected to a processor, those companies may be able to provide the technology for you to collect taxes correctly. While you may not be required to collect state taxes yet, you should prepare to be able to in the future.
If you are looking to sell products online using a large e-commerce distributor, you may be asked to obtain UPC codes for your products. What is often required nowadays is not just a simple UPS number, but rather a Global Trade Item Number (GTIN). This is a global product number that identifies the company as well as the product and it can be used globally.
To obtain a unique UPC:
For most sales, invoices and receipts are adequate. However, in some cases, a Sales Contract can help protect both sides of the sales agreement. A sales contract adds additional protection from non-payment, product damage and default. It also includes confidentiality agreements and dispute resolution terms. If your sale is rather large or a sale with payment terms, a Sales Contract can help protect you and your customer.
Patents are expensive. Obtaining a patent starts at about $1000 and rises quickly from there. If you hire a patent lawyer, expect to pay roughly $300 to $800 per hour or more. However, despite the costs, protecting your unique product is often worth it.
You should carefully research the patent process, but here are the basic steps to preparing yourself for applying to obtain a patent: