POS Business Plan

There are several business opportunities available in the finance sector in Nigeria and POS services is one of them. POS business is a legitimate way to make money in Nigeria. It’s more profitable in communities with no banks and places where ATMs are not enough to serve the financial needs of the community. It is also called agent banking business, and it’s an extension of the services offered by financial institutions to enable easy service offering to a wide range of customers.

Businesses in the POS line offer services like funds transfer and withdrawal, sales of airtime, bill payments like GOTV, DSTV, Startimes, PHCN, and other utility bills. One good thing about POS businesses is that they provide the same services the average person goes to the bank for, hence, eliminating the long queues, delayed services and all the stress people go through to carry out simple banking transactions.

Businesses in this sector primarily offer withdrawal and deposit services at a charge depending on the amount. Although this is a new emergence in the country it is beginning to get huge attention as banks and fintech companies now create platforms for businesses carrying out POS services to be able to run smoothly. Although not serving as direct employees of a bank, they deliver banking services on behalf of banks on an agreed commission. It is a profitable business and one of the best means of getting passive income.

In recent times, the need for large gathering has been prohibited due to the global pandemic and this amongst others brought about the boom of POS businesses in the country as people no longer need to gather in mass at banks or ATMs for cash withdraw or deposit as POS businesses are made available in almost every street.

The boom is also further contributed by the fact that starting a POS business requires little experience, low start-up capital as most people can start-up this business with as low as 100,000 without needing to rent a shop and build the business from there with the service charge per transaction.

The business is indeed getting larger and pretty much active in many parts of the country especially Lagos and Ogun state. There is no community without at least 4 POS centres with more coming up as the market is large and offer each player an avenue to make profits.


Table of Contents

I.    Introduction3

1.0 Executive Summary4

1.1  Importance5

1.2 Benefits6

1.3 Objectives6

1.4 Vision6

1.5 Mission6

1.6 Keys To Success7

2.0 Company Summary7

2.1 Company Ownership8

2.2 Location And Facilities8

2.3 Start-Up Summary9

Table: Start-Up Funding9

3.0 Service9

3.1 Future Services9

4.0 Market Analysis9

4.0.1 Market Summary9

4.0.2 Marketing Plan10

4.1 Target Market10

4.2 Industry Analysis11

4.3 Challenges Of Agent Banking In Nigeria12

4.4 Swot Analysis12

4.4.1 Strengths12

4.4.2 Weakness13

4.4.3 Opportunities13

4.4.4 Threats13

4.5 External Environmental Analysis13

4.6 Marketing Strategy13

4.7 Publicity And Advertising Strategy14

4.8 Sales Forecast15

4.9 Sustainability And Expansion Strategy15

5.0 Strategy And Implementation Summary16

5.1 Competitive Edge16

6.0 Management Summary17

6.1 Management Team17

6.2 Personnel Plan17

7.0 Financial Plan17

7.1 Breakeven Analysis17

7.2 Projected Profit And Loss17

7.3 Projected Cash Flow17

7.4 Projected Balance Sheet18


Subscribe to access this work and thousands more
Overall Rating

0

5 Star
(0)
4 Star
(0)
3 Star
(0)
2 Star
(0)
1 Star
(0)
APA

Resources, A. (2024). POS Business Plan. Afribary. Retrieved from https://afribary.com/templates/pos-business-plan

MLA 8th

Resources, Africana "POS Business Plan" Afribary. Afribary, 26 Mar. 2024, https://afribary.com/templates/pos-business-plan. Accessed 18 May. 2024.

MLA7

Resources, Africana . "POS Business Plan". Afribary, Afribary, 26 Mar. 2024. Web. 18 May. 2024. < https://afribary.com/templates/pos-business-plan >.

Chicago

Resources, Africana . "POS Business Plan" Afribary (2024). Accessed May 18, 2024. https://afribary.com/templates/pos-business-plan

Document Details
Field: Plans & Proposals Type: Template 25 PAGES (12449 WORDS) (docx)