Compare The Best Point of Sales (POS) Systems

Our recommendation for most people is Lightspeed, which works well for both online and in-person sales. Take a 14-day free trial of Lightspeed, no credit card required.

Modern point-of-sale (POS) solutions are flexible and offer a wide array of helpful features. Complete sales quicker and minimize the amount of busy work required to keep your books in order.

Whether you’re looking to upgrade your existing POS software or buy a new point-of-sale system, this guide will help you find the best one for your needs.

The 9 Best POS Systems

The best POS system for the majority of our readers is Lightspeed because it is affordable and easy to set up. Start selling with Lightspeed today for free.

• Lightspeed – Best overall POS
• Shopify – Best ecommerce POS
• TouchBistro – Best for restaurants and food service
• Square – Best for selling in-person and online
• Helcim – Best for lowering transaction costs
• Revel – Best for multi-location businesses
• PayCafe – Best for advanced reporting
• Vend – Best for retailers
• Quickbooks POS – Best for accounting integration

There are a lot of really great POS systems out there. I researched many options and narrowed my top list down to the nine best.

Each tool on this list excels at the basics and goes beyond to offer features uniquely qualified for certain business needs.

Lightspeed – Best Overall POS

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• Starting at $39 per month
• Easy for employees
• Outstanding customer support
• Low fees at 2.6% + $0.10

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Lightspeed offers POS solutions for retailers, restaurants, hotels, and more. It’s easy to deploy and simple for employees to learn.

Whether you have online sales, in-store sales, or a little bit of both, Lightspeed POS will work just fine.

You can try the full platform free for 14 days to test out every feature. If you like what you find, Lightspeed will work with you to get your business set up with the right hardware.

Track unit costs, get alerts for items that are low in stock, and even sell out-of-stock items that will be fulfilled upon arrival.

Lightspeed is ideal if your location requires special requests, like custom items, work orders, layaways, and purchase orders. You can meet all of these demands directly from your POS.

This makes it a popular choice for small business owners in the following categories:

• Bike shops
• Jewelry stores
• Golf equipment
• Pet supplies
• Home decor
• Sporting goods
• Apparel

You can use Lightspeed with your own hardware from any device, regardless of the operating system. Lightspeed POS allows you to set up customer profiles for purchase history and lifetime value. You can also segment your customers into different categories.

Lightspeed starts at $39 per month for restaurants and $79 per month for retail with an annual contract. Month-to-month rates for retail start at $99.

You can also use Lightspeed as a payment processor. They charge 2.6% plus $0.10 per transaction.

Find out more about Lightspeed and sign up for a free trial.

Shopify – Best Ecommerce POS

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• Starting at $29 per month
• Built-in payment processing
• Inventory management
• High Quality POS Hardware

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Shopify is an outstanding way to accept payments online, in-person, or both. Most people are familiar with their sleek online store builder, but Shopify’s POS system is excellent as well.

And if you’re already using them for your online store, you should use Shopify POS as well. This will offer seamless integration and let your two systems work as one.

Your inventory is updated and managed in real-time across multiple locations for Internet and in-person sales. You can also manage transfers between locations and use Shopify for inventory forecasting.

Shopify makes it easy for you to create loyalty with profiles and tools for building customer loyalty programs.

Shopify POS also allows you to accept payments anywhere in store. That means no long lines (or at least less of them).

Since your ecommerce and in-store solution will be connected with Shopify POS, customers will have the ability to return or exchange an online purchase at a local retail location.

Shopify POS is included for free in the monthly cost of your Shopify plan. You’ll only pay extra for the processing fees.

Basic Shopify — $29 per month

• 2.9% + $0.30 for online credit card transactions
• 2.7% for in-person card transactions
• 2 staff accounts

Shopify — $79 per month

• 2.6% + $0.30 for online credit card transactions
• 2.5% for in-person card transactions
• 5 staff accounts
• Unlimited staff POS PINs
• 1-5 store locations

Advanced Shopify — $299 per month

• 2.4% + $0.30 for online credit card transactions
• 2.4% for in-person card transactions
• 15 staff accounts
• Unlimited staff POS PINs
• Up to 8 store locations

For selling online with dozens of physical store locations, you’ll need to find something a bit more advanced than Shopify. But Shopify is perfect for easy setups and selling right away both online and in-person from a handful of brick-and-mortar stores.

If you’re currently using Shopify to sell online, then using Shopify POS for in-store transactions is a no-brainer. I’d also recommend Shopify If you’re in the market for a new POS system, and you’re looking to launch a new ecommerce store.

TouchBistro – Best for Restaurants and Food Service

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• Starts at $69 per month
• Industry-specific POS solution
• Great for restaurants & bars
• All-in-one solution

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As the name implies, TouchBistro is an industry-specific POS solution. They offer tools for full-service restaurants, bars, clubs, food trucks, breweries, and quick service food or drink businesses.

There’s a lot less setup these businesses have to do to get everything right. Reservations, table seating, delivers, menu changes–it’s all built right into the software.

Some of the top features of TouchBistro include:

• Tableside ordering
• Reporting & analytics
• Table management
• Payment processing
• Staff management
• CRM
• Menu management
• Inventory management

TouchBistro is an all-in-one solution that allows you to set up self-ordering kiosks, a kitchen display system, and customer-facing displays for takeout. It’s essentially everything you would need in a POS system if you are in the food service industry.

You can even integrate your POS with online ordering. Take reservations, set up a customer loyalty program; TouchBistro does it all.

With TouchBistro, you have the option to use your own hardware and just buy the software. Alternatively, you can bundle the software and hardware with your plan. Let’s take a look at each option.

Solo — 1 License

• Software only — $69 per month
• Software & hardware bundle — $105 per month

Dual — 2 Licenses

• Software only — $129 per month
• Software & hardware bundle — $209 per month

Team — Up to 5 Licenses

• Software only — $249 per month
• Software & hardware bundle — $359 per month

Unlimited — 6+ Licenses

• Software only — $399 per month
• Software & hardware bundle — $539 per month

Note: All plans are billed annually.

TouchBistro has outstanding 24/7 customer support via phone and email. They also offer training services for large operations. Their staff is comprised of actual food service managers, servers, and owners. So they know exactly how to address your needs and challenges.

While TouchBistro is hands-down our top recommendation for restaurant POS software, there are a few things to keep in mind before you get started.

The system is not entirely cloud-based, so you’ll need to run it on a local network as well. So it’s not the best fit for those of you who operate with an unstable or unreliable Internet connection. TouchBistro runs on an Apple-based infrastructure. If you want an Android or Windows POS system, this is not the best choice for your restaurant.

Square – Best for Selling In-Person and Online

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• 100% free to download
• Use your own device for POS
• Doubles as a credit card processor
• Real-time analytics & reporting

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Square is an affordable POS system that anyone can pick up and start using today. There is minimal hardware to buy for taking payments in person–and none if you want to sell online.

Square actually lets you build a free website or online store for your business, which is very uncommon for a POS system.

People choose Square because it “just works” for a huge range of businesses. Plug the Square Reader into your phone to start selling. Square Readers support either traditional magstripe “swipe” payments, or chip and contactless payments.

You can get exactly what you need and pay for nothing more.

Alternatively, you could get a Square Terminal or Square Register. These print receipts and allow you to accept magstripe, chips, and contactless payment.

All sales through Square are tracked in a single system. Your register, reader, and online sales are always perfectly synced, with no work on your end.

It’s easy for you to manage, track, and update your inventory. Square also provides real-time analytics and reporting and lets you create customer profiles to manage your customers better.

Square also offers special plans for professional services as well as food & beverage. Track bookings, appointments, or reservations with Square just as easily as inventory.

Since Square is a credit card processor, you won’t need to integrate a third-party solution to accept payments. You won’t pay any hidden costs or monthly fees either.

No matter how many sales you process, your only cost is the transaction rate. For swipes, dips, and taps, it’s 2.6% + $0.10 per transaction. For bank transfers and manual key-in transactions, the fees are slightly higher.

It’s worth noting that Square does offer volume discounts for larger businesses. If you process more than $250k per year with an average order size over $15, contact their sales team for a custom solution.

One potential drawback of Square is if your business scales too quickly. Some users complain that their accounts were placed on hold for large transaction volumes, as the system has security protocols in place to protect against fraudulent charges.

Square is the best overall POS system today, especially if you want the flexibility of selling online or in-person. I’d recommend it for entrepreneurs, small business owners, and even medium to large-sized companies.

Helcim – Best for Lowering Transaction Costs

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• Top-of-line POS hardware
• Create an online store
• Customized interchange rates
• User-friendly ecommerce processing

Try it today!

Helcim is another all-in-one POS solution that lets you accept payments online and in-person.

I like them a lot because of their Intercharge Plus pricing. You can learn more about it on their site, but if you have ever looked at your payment processing fees, you know that the rates can vary widely depending on the card type, and whether sales are in-person or online.

With Intercharge Plus pricing, you wind up saving a lot more than you would with flat-rate and other processing fee structures.

They also offer high quality hardware, like the wireless Helcim Card Reader. It allows you to accept debit and credit cards from all the major companies. It also syncs across desktop, tablet, and mobile devices to allow you a flexible range of payment acceptance options.

They make it easy to get an online store off the ground. You can actually create one right on their website. It’s incredibly easy to use. You don’t need to be a web developer or even know how to code. And you can transfer your existing product catalog to their store in minutes.

Naturally, the site comes with the Helcim payment processor built-in for a seamless shopping experience.

There are a lot of great-looking themes for your online store too, so choosing one for your brand should be easy.

As for pricing, there is no monthly fee and average transactions rates vary depending on your monthly volume. Sign up today.

Revel – Best for Multi-Location Businesses

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• Software starts at $99
• Installation starts at $649
• Advanced CRM features
• Centralized management system

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Revel offers POS systems for retail, restaurants, bars, and quick-serve businesses. Revel is a hybrid POS, using a combination of the cloud and your local network to store information. That means you don’t need to worry if you lose a connection. You can still process transactions.

If you’re a small business owner with multiple locations, Revel has a centralized management system that standardizes everything across each site.

Revel has a wide range of hardware options for you to choose from, depending on the type of business you have and your in-store layout:

• Apple iPads
• iPad stands
• Self-service kiosks
• Barcode scanners
• Printers
• Payment devices
• Networking
• Cash drawer and till

While other POS systems on the market encourage you to use your own devices, Revel strongly recommends that you buy hardware directly from them for everything to go smoothly. So this will be an added cost.

Speaking of price, the Revel POS software starts at $99 per month per terminal. It’s a bit pricey compared to the competition, especially for a small business owner. Installation and onboarding starts at $674. Contact their sales team for a quote on processing fees.

Revel POS software contracts are billed annually, with a minimum 3-year contract required. So you won’t have the flexibility to change or cancel in the short term.

Revel’s high prices are justified if you plan to take advantage of their CRM features. They offer tools for customer insights, segmenting customers, connecting with marketing campaigns, managing appointments, and more.

Their system provides you a fantastic customer loyalty experience too.

If you can afford the high monthly rates, installation fees, and hardware, Revel offers enterprise-grade POS systems for small businesses. But the price is something that can’t be overlooked, especially for a 3-year contract.

PayCafe – Best for Advanced Reporting

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• 24/7 customer support
• Great ecommerce solution
• In-depth reporting
• Easy to set up

Try it today!

PayCafe offers comprehensive payment processing solutions without any hassle or headaches.

You can use this provider to process both in-person and online payments—making it a solid option for any business with a physical store and ecommerce website.

With PayCafe, you can accept all major credit cards and debit cards in 135+ different currencies. But what really makes this processor stand out from the crowd is its advanced reporting.

You’ll benefit from processing insights, advanced transaction search, dispute reporting, and so much more. All of this can be managed in a fully customizable reporting dashboard.

With PayCafe, you can accept payments through your website or in person, both in your store and at a remote location. Should you have a subscription business where recurring payments are necessary, PayCafe can help with this process as well.

PayCafe has fraud protection tools and 24/7 customer support. It will encrypt cardholder data to ensure that it remains safe. PayCafe monitors activity from employees and customers, providing alerts for any odd occurrences that could indicate fraud. It requires two-factor authentication (2FA) for you to access your account and services.

Processing rates start as low as 2.49%. Learn more.

Vend – Best for Retailers

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• 14-day free trial
• Starts at $69/month
• Advanced analytics
• Intended for small retailers

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Unlike other POS systems on the market today, Vend is an exclusively cloud-based POS solution. They don’t offer any on-site server deployment, which is great for small business owners, although larger companies will find this to be a bit limiting.

The advantage here is the cross-platform consistency. The system looks the same on the front end, regardless of the hardware you’re using.

Vend is a bit different compared to other POS solutions on our list. They don’t sell any hardware, and they don’t process payments.

Instead, you’ll have to use Vend to integrate with third-party solutions for things like payment processing or other needs. But the benefit here is the software’s simplicity.

Vend is intended for small retailers. It’s not made for bars, restaurants, or food trucks.

Here’s an overview of the Vend POS plans and pricing:

• Lean — $69 per month (or $89 billed annually)
• Standard — $119 per month (or $149 billed annually)
• Advanced — $269 per month (or $199 billed annual)
• Enterprise — Custom pricing

All plans come with just one register included. Additional registers can be added on for $59 per month.

You’ll need to upgrade to the Standard plan if you’re looking for accounting and ecommerce integrations. The Advanced plan comes with customer loyalty features, advanced reporting, and API access.

Larger companies can request a custom solution with Vend Enterprise. This comes with a dedicated account manager and custom onboarding. But if you outgrow the Pro plan, I’d look elsewhere for POS software.

Vend is perfect for small retail shops with just one register. You aren’t forced to buy expensive hardware, and the system is easy to use. Try Vend for free with a 14-day trial.

QuickBooks POS – Best for Accounting Integration

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• Starting at $1,200
• One time flat cost
• Integrates with QuickBooks
• POS hardware sold separately

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QuickBooks offers a great point-of-sale system along with their accounting and bookkeeping solutions.

If you’re already using Quickbooks, you should definitely consider them for your POS.

The benefit of using the same company for POS and accounting software is that your analytics and insights will be extremely accurate. Using QuickBooks POS can ultimately improve your bookkeeping process and accounting department.

Pricing for QuickBooks POS is a bit unique compared to the other options on our list. Rather than a monthly or annual rate, it’s a one-time purchase.

• Basic — $1,200
• Pro — $1,700
• Multi-Store — $1,900

Note: All POS hardware is sold separately. 

There are pros and cons to this pricing structure. It’s a high up-front cost, but it can save you money long-term if you plan to use it for a while. The downside is that upgrading isn’t simple. If you started with the Basic software and wanted to purchase Multi-Store one year later, you’d have to buy the new package separately.

Overall, the QuickBooks POS system is a decent standalone product. It has all of the basics you’d need to process transactions in person. But I’d only recommend it to those of you who want the best integration with QuickBooks accounting software. The POS system alone has its limitations.

How to Find the Best POS System

What makes a great POS system?

As you’re evaluating potential options, there are certain factors that you should be looking for. This is the same methodology that I used when I wrote this guide. I’ll explain each feature and why it matters below.

Payment Processing

First and foremost, your POS system needs to process payments. Some options have built-in payment processors, while others have third-party integrations.

So if you’re currently using a payment processor and you don’t want to switch, make sure to choose a POS system that can integrate with that company.

Ecommerce Capabilities

If you’re selling online or plan to sell online, you should look for a POS system that integrates with your ecommerce store. Otherwise, you can run into problems with things like inventory management.

For those of you just selling in-store now but plan to enter the ecommerce market, I’d recommend an all-in-one solution like Shopify. Shopify POS is free with any Shopify ecommerce plan.

Setup and Ease of Use

The best POS systems have a simple set up process. Some don’t even require any hardware purchases. It’s as simple as installing software on your own device.

Other solutions require you to purchase hardware directly through them. These setups are usually a bit more challenging, but not always complex.

Once your POS is up and running, it’s critical that the solution is easy for your staff to use. If you’re in the restaurant or retail industry, there’s a good chance you have lots of part-time workers and have high employee turnover. So training and daily use with the POS software needs to be as simple as possible.

Inventory Management

Most POS solutions offer some form of inventory management. Some plans are better than others. You may need to upgrade your plan in order to get the full benefits of tracking inventory.

If you just have one location and you’re not selling online, this feature may not be that important to your business. But for those of you with a more extensive operation, proper inventory management is a must-have.

Hardware

Do you want to use your own hardware or buy equipment when you purchase POS software?

There are lots of factors that go into this decision. Price could be one of them, but that’s not always the case. Hardware can also impact the ease of use, which we already discussed.

The type of hardware you use will also depend on the type of business you have. For example, if you run a coffee shop, you’ll probably want a customer-facing POS terminal behind the counter. But other retail locations may prefer a mobile POS for staff to use out on the floor.

Industry and Type of Business

Some POS solutions are industry-specific. For example, TouchBistro is the best choice for businesses in the food service industry. Lightspeed is the best for custom orders.

The size of your business matters when choosing a POS system as well. If you have just one small retail location with one register, Vend would be a top choice for you to consider. But if you want to scale with multiple registers and several locations, you’d be better off with a solution like Square.

The Value of a POS System

Today’s point-of-sale systems do much more than just process payments. These systems make it possible for you to operate your entire business. You can:

• Manage inventory and employees
• Track and analyze crucial sales metrics
• Integrate your POS with customer loyalty programs, email marketing tools, accounting systems, payment processors, ecommerce platforms, and more
• Access the data from anywhere on mobile

And while improving your business, a POS helps enhance the overall customer experience by speeding up your in-store sales process, eliminating manual tasks, and improving the accuracy of your reporting.

The Top POS (Point of Sale) Systems in Summary

Choosing the right POS software is crucial to the success of your business. These modern solutions do so much more than just process payments.

You can use them to sync inventory with your registers, connect your online store with in-person sales, and centralize your bookkeeping. Transactions are easy for customers, who can pay in multiple ways. And everything is easier on the backend for your employees and business.

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Small Business Loans: Secured vs. Unsecured

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. 

Secured Small Business Loans Pros and Cons 

Pros

• Lenient credit score requirements
• Larger borrowing amounts
• Lower interest rates
• Longer repayment periods 
• Easier to access 
• Possible tax benefits 

Cons 

• Slower to fund 
• Risk of losing business assets
• Requires collateral 

Unsecured Small Business Loans Pros and Cons 

Pros

• No physical collateral required 
• Quicker to fund 
• Simpler application process
• Builds credit history 

Cons 

• More difficult to access
• Higher interest rates 
• Smaller borrowing amounts
• Shorter repayment period 
• Potential personal guarantee or UCC lien requirements

The 11 Best Business Loans for 2022

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.

• Bluevine — Best for established businesses seeking lines of credit up to $250,000.
• Lendio — Best small business loan marketplace with 75+ lenders.
• OnDeck — Term loans and lines of credit for business owners with a 600+ FICO score.
• Fundbox — Best for new businesses in need of inventory or supplies from vendors.
• Funding Circle — Best small business lender for loan terms up to five years.
• Kabbage — Best for businesses with low monthly or annual revenue.
• Lending Club — Best P2P lending marketplace for business loans.
• Kiva — Microloans up to $10,000 at 0% interest for entrepreneurs.
• SmartBiz — Best for SBA loans up to $5 million with 25 year terms.
• Credibility Capital — Bank-backed loans for business owners with great credit.
• CAN Capital — Best merchant cash advance for small business.

Loan Type: Tie 

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 – 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) – 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 – This type of loan works like a traditional term loan. However, the Small Business Administration (SBA) guarantees part of the loan, so you’re 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 – This type of loan doesn’t 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. It’s a great option if you don’t want to compromise your personal or business assets. 

On the other hand, unsecured loans don’t 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 you’ll 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.

Lender Type: Secured Loan Wins 

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, you’ll 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. 

Funding Amounts: Secured Loan Wins 

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.

Interest Rates and Loan Terms: Secured Loan Wins  

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 you’ll 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 you’re putting up security either way. In addition, you’ll benefit from a lower interest rate and an extended repayment period if you opt for the secured loan. 

Qualification Requirements: Secured Loan Wins 

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:

• The value of the collateral 
• Business plan
• Cashflow history and projections
• Credit history
• Tax returns

A secured loan lender may consider other financials, including personal and business assets. As a result, secured loans have more stringent qualification criteria. There’s 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:

• Loan amount and purpose
• Annual turnover
• Time in business 
• Credit history 

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.  

Funding Time: Unsecured Loan Wins  

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 isn’t an option in an emergency in most cases. 

Tax Benefits: Secured Loan Wins 

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. 

Fixed vs. Variable Rate: Secured Loan Wins

It’s 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. You’ll also pay lower interest if the overnight market rate goes down. 

Either way, it’s 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. 

Asset Takeover: Secured Loan Wins 

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 doesn’t 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. 

Prepayment Penalties: Secured Loan Wins 

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 there’s 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. 

Final Verdict

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 isn’t 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.

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How to Grow Your Email List

Want to just get started? Click here to sign up for Constant Contact and start growing your list today. 

Having a big email list can lead to more sales, followers, and market research. 

But with so much competition, it’s hard to convince people to part with their email addresses. 

If you can learn how to get people to subscribe to your list, you’ll have a growing database of potential customers or followers that can’t be taken away from you. 

Email marketing also has one of the highest ROIs of any marketing, and you can use your list to do market research for better content and products.

The Top-Rated Email Marketing Platforms to Help You Grow Your List 

If you want to grow your email list, you’ll need to start with a great email marketing service that helps you manage your subscribers. Here are our top recommendations: 

• Constant Contact — Best overall
• Sendinblue — Best for growing your customer base
• MailerLite — Best for the essentials at an affordable price
• Omnisend —Best email and SMS marketing combo
• Moosend — Best for ecommerce
• AWeber — Best value for low subscriber count
• GetResponse — Best for automated lead generation
• HubSpot — Best for automated email marketing
• Drip — Best for new ecommerce businesses
• ConvertKit — Best for influencers, bloggers, and creators

You can read our full review of each email marketing platform here. 

4 Steps To Getting More Subscribers for Your Email List 

The more subscribers you have, the higher your chances of achieving goals – whether you want more sales, more followers, or better audience insights. 

Here are the best ways you can grow your email list organically: 

1. Offer an Incentive 
2. Invite People to Subscribe 
3. Run A Free Webinar 
4. Invite Them to Join a Group

The Easy Parts of Growing Your Email List 

Believe it or not, the easiest part of growing an email list is sending out the emails. 

People tend to panic about what they should write, but there are plenty of templates, guides, and even copywriters out there to help you. Plus, the key to a good email is writing easy-to-read content that sounds conversational, which is often easier than you might think. 

People also think that they need to have lots of design skills to send out good emails. However, most emails work better when they’re just text, and when they’re kept short. And if you do want to add images or even a gif or a meme, there are dozens of great email marketing platforms that include templates to help you. 

Our personal favorite is Constant Contact. It has hundreds of templates to help you write and design your emails. And, it comes with tons of automation and segmentation features to help you organize your lists and plan out your email campaigns. 

It also offers list-building features that allow you to create opt-in forms for different social media platforms and pages.

The Difficult Parts of Growing Your Email List 

There are two parts to growing an email list that most people find hard: getting people to join the list and getting people to stay. 

With so many people using email marketing, people guard their emails a lot more closely than they used to. That means that if you want someone to give you their email and join your list, you need to give them something good in return. This could be something free, or the promise of valuable information. 

Then, you have to get subscribers to stay. Again, because most people receive so many emails every day, keeping someone from unsubscribing from your list is tough. You need to send really great emails to earn your place in someone’s inbox. Figuring out the right content to send and living up to your promises can be a struggle. 

Luckily, there are lots of templates and email marketing tools to help you keep subscribers once you’ve won them. And, in this post, we’ll go through the best ways you can grow your list and get new subscribers. 

Step 1: Offer an Incentive 

The best way to grow your email list is to give people something in exchange for their emails. 

If you think about every time you’ve joined an email list, chances are that it was to get a free download or to join a service. Getting access to someone’s email is a privilege and people want to be rewarded for it. 

If you can give people a reason to sign up for your list AND a reason to stay, you’re winning. 

Here are some ways you can incentivize people to join your list: 

Create a Freebie 

The fastest and best way to get people to join your list is to create a “freebie.” This is a free piece of content your subscribers will get access to if they join your list. 

This could be the link for an exclusive video training, or a downloadable guide—whatever you think would be valuable and interesting to your audience. 

You will have to spend a little time creating this freebie, like recording a video or designing a graphic, but it’s worth it when it’s done. You can then post about your freebie on your social media, add it as a pop-up on your website, or offer it in networking groups.

Run a Giveaway 

Another powerful way to get lots of subscribers fast is to run a giveaway. You also don’t have to offer anything of really high value here—it could be a giveaway of your freebie or a free 15-minute consultation call. Even if it’s something small like an Amazon gift card, getting lots of subscribers will make it worth your while. 

Simply make one of the requirements of the giveaway to subscribe to your email list. Then, choose an email at random to give the winner the prize. 

The main thing to remember with giveaways is that you MUST actually give away a prize. You can get in a lot of trouble with internet regulators if you run fake contests.

Step 2: Ask People to Subscribe 

It seems obvious, but just asking people to join your list can work wonders. 

Many people have a fear of asking for conversions—they’re worried about coming across as desperate or begging. But there is an art to getting subscribers. You just have to ask in the right way. 

Phrasing your invitation as if you’re inviting people to something valuable or exclusive will make people want to join your list. And as long as you communicate the value of your list and give people a good reason to join, asking at every opportunity will help you grow faster. 

Here’s where you should start asking for sign-ups: 

Add a Pop-Up to Your Website 

An easy way to ask people to join your list is by adding a pop-up box to your website. 

You can add a pop-up directly to your site that’s triggered after someone is on a page for a few minutes. You can then offer your freebie in exchange for their email, or invite them to the list by promising value. 

You can also create a pop-up or sign-up page to collect emails by using an email marketing platform like Constant Contact. 

As part of its list-building features, Constant Contact can help you build a sign-up page linked to your site. This includes templates and integration to make your sign-up page as personalized and easy to implement as possible. 

Constant Contact also has tools to help you add sign-up pages to your social media, build custom landing pages, and manage your email lists. 

You can try Constant Contact for free here. 

Add a CTA to all Your Posts

People forget that if you don’t tell your audience what to do, they won’t do it. 

Adding a Call to Action (CTA) inviting people to join your list anywhere you can makes it more likely that you’ll grow subscribers after. 

You can add a CTA in the captions of your social media posts, in a box at the end of your blog posts, or even as an announcement at the end of podcasts. Just make sure that the CTA is offering them something in return for their email and is interesting enough to get them to sign up! 

Post About Your List on Social Media 

Social Media is another great way to let people know about your list, and then ask them to subscribe. 

You can add CTA’s to your captions, and you can promote your list on your Instagram stories, or pin your invite to your profile. This also works for Facebook, Pinterest, and LinkedIn. 

Twitter is an especially great way to get new subscribers because you can share short snippets from your newsletter, or create threads out of your email content. Then, add a CTA to your tweets with something like ‘Found this useful? Join my email list to see more content like this!’

You can either add a subscribe link directly to your social media bio, or use a link in bio tool like Linktree.  

Step 3: Run a Free Webinar 

A webinar is a great way to constantly add new leads to your list. 

Just like offering a freebie, your webinar should promise some sort of value that would interest people to attend. And the best thing about a webinar is that you can pre-record it, and then play it in a loop so people keep joining. 

The most successful webinars do have a tried and tested structure, usually requiring people to sign up and get an email invitation. You then use the webinar to share a few key pieces of value to help you build trust with your audience. If you get this right, it will inspire people to join your list to keep learning from you and get more content. 

Remember that a good webinar doesn’t just give you the chance to grow your email list – it also gives you the chance to sell or make an offer! 

Create an Email Invite for the Webinar 

You can run ads, and announcements on social media or post in groups to let people know about your webinar. Once you have someone interested in watching, you should ask them for their email to send them a confirmation link to join. 

Just remember that if you do this, you MUST comply with email laws about consent. If you are using a platform like Constant Contact, they’ll help you include the right information in the small print and the pop-ups to make sure you are compliant with internet laws. 

You can then email your new subscribers an invite to the webinar, and then tag them, ready to add them to your welcome automation.

Invite Them to Join Your List During the Webinar 

If you didn’t send an email invite, you can still get your webinar attendees to sign up for your list. You can offer them your freebie at the end of the webinar, or invite them directly using some persuasive language. 

If the goal of the webinar is to get more subscribers and grow your list, make sure you mention it often so people don’t miss it. And make sure you make it clear that the content you share with email subscribers is as valuable as what you are sharing in the webinar. 

If they’ve joined a webinar about a certain topic, then that’s what they are interested in, and they’ll only join your list to get more content like that. 

Step 4: Invite Them to Join a Group

Another way you can add a lot more subscribers to your list is by creating exclusive groups or communities that require an email sign-up to join. 

You may have seen this in action if you’ve ever tried to join a private Facebook group or a LinkedIn group. One of the best things about starting groups like this is that they’re usually based on you sharing value and exclusive content with members. 

So, if someone is interested in joining your Facebook group or private mastermind, they are already interested in the type of content you share and are more likely to want to join your list. 

Here are a few group options that may work well for you.

Start a Mastermind 

Starting a group exclusively for people in your industry or niche, and making the mastermind invite-only, will give people a reason to give you their emails. You can make it a requirement that you receive an email invite to join the group, for instance.  

This is a great way to make sure that you are getting high-quality subscribers, because it will only be people in your niche, and they’ll all be excited to receive emails from you. Just make sure that anything you do share in the mastermind lives up to the value you are promising. 

Remember, running a group can be a lot of work. This step might not be for you if you’re short on time. 

Start a Private Facebook Group 

A little like creating a mastermind or a freebie, you can create a private Facebook group where you share exclusive content, information, and value. 

Again, you do need to make sure that you are offering real value when you start a group like this, but the idea of belonging to anything exclusive will get people to sign up. 

Especially if people think they are getting value without having to pay money, you’ll easily convince people to give up their emails and join your list. You can also then use your Facebook group to generate content ideas for your emails and campaigns. 

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How to Create an Email Marketing Campaign

Want to just get started? Click here to sign up for Constant Contact and start creating your campaign today. 

Email marketing is so valuable that the average ROI is $36 for every $1 spent. But when it comes to email marketing campaigns, most people don’t know what to write, or how to structure one. 

If you DO know how to set the right goals and send emails to the right people, campaigns can be an evergreen way to make sales and connect with your subscribers. 

Once you learn how to create a great email campaign, you’ll be able to convert subscribers into customers or followers on autopilot and get invaluable insights into your target audience. 

Plus, you’ll be able to reuse your campaign over and over and keep improving it to get better results every time. 

The Top-Rated Email Marketing Platforms to Help you Create Great Email Campaigns 

If you want to create and send out successful email campaigns, you’ll need to have a reliable email marketing service to help you. Here are our top recommendations: 

• Constant Contact — Best overall
• Sendinblue — Best for growing your customer base
• MailerLite — Best for the essentials at an affordable price
• Omnisend —Best email and SMS marketing combo
• Moosend — Best for ecommerce
• AWeber — Best value for low subscriber count
• GetResponse — Best for automated lead generation
• HubSpot — Best for automated email marketing
• Drip — Best for new ecommerce businesses
• ConvertKit — Best for influencers, bloggers, and creators

You can read our full review of these email marketing platform here. 

6 Steps To Creating a Great Email Campaign 

Following the right steps will help you create campaigns that get you results and that your audience actually wants to receive. 

We’ve put together a list of the most important things you need to do when crafting your next campaign:

1. Set a Goal 
2. Plot Out Your Email Campaign 
3. Write the Content 
4. Set up the Campaign 
5. Add Automations 
6. Test Your Campaign 

The Easy Parts of Creating an Email Marketing Campaign 

The easiest parts of creating an email marketing campaign are the technical aspects. 

They may be time-consuming, but actually plugging in the content, choosing who to send it to, and deciding on send times are a lot easier than getting the content right. Especially with all the great email marketing software out there, you can have all the technical stuff done for you in less than a day. 

Our top recommendation for an email marketing platform is Constant Contact because it makes this setup process so easy. Not only does it include plenty of templates, but it also comes with automation and segmentation features to make it easy to manage email campaigns. 

It also comes with A/B testing features, which make it easy to monitor whether your campaigns are working and improve them as you go. 

The Difficult Parts of Creating an Email Marketing Campaign 

One of the most difficult steps you’ll face is creating content that converts your subscribers to paying customers. You’ll have to write powerful copy if you want to see results, and that’s not as easy as it sounds. 

Another part of creating an email campaign that can be hard for many is analyzing the results to create a better campaign. There are so many pieces of the email marketing puzzle that it can be difficult to tell which one(s) to change to get better results and which ones to leave alone. 

Even email marketing experts struggle to know how to improve open rates and sales at times! You may want to rely on the help of an email marketing professional and/or good email marketing software to help you navigate these pitfalls, especially if you don’t have much experience in email marketing. 

Step 1: Set a Goal 

Before you can even think about creating your campaign, you need to know why you’re doing it. 

What do you want your campaign to achieve? Do you want more sales? Do you want people to sign up for your next event? You need to have a clear vision of this before you start creating your campaign, otherwise, you’re wasting your time. 

Decide on Your Why 

Email campaigns usually have a big goal for the end, and are designed to move people through a conversion journey to achieve that goal. Perhaps you want to welcome people to your list or to sell a new product. 

Think about what you would like to convince people to do by the end of your campaign. This will determine what kind of campaign you choose and how you structure your copy. 

Choose Your Type of Campaign 

Now that you know the goal of your campaign, you can decide on the type. 

Do you want to convince new subscribers to buy your course? Then you need a welcome sequence that moves them from unaware to product aware. 

Do you want to offer a discount to people who have abandoned a cart? Then you might want to send a re-targeting email. 

You should research some of the different types of campaigns out there and try to choose the one that will best help you achieve your goal. Here are some of the most common ones:

• Welcome Series 
• Re-Targeting Sequences 
• Abandoned Cart Sequences 
• New Launch Campaigns 
• Seasonal Campaigns 
• New User Drip Campaigns 
• Promotion Campaigns 
• Re-Engagement Campaigns 

You can also subscribe to some other lists from people you admire to get inspiration for structuring your campaign. 

Choose a Section of Your List to Send To

Once you know what campaign you’re creating and why, you can decide on who will receive the campaign emails. 

You can choose a small section of your list to receive the campaign. For example, you could send only the most engaged subscribers a campaign to sell them your new ebook. 

Or you can trigger an automation to send a campaign to users after they take a certain action, like joining your list or leaving your landing page. 

Constant Contact includes plenty of segmentation and automation tools to make this really easy. You can choose who you send your email to and when, and set up rules to make this easy to repeat with each new subscriber. You can also trigger specific campaigns like welcome emails or holiday sequences using their library of templates. 

You can get started with Constant Contact here for free. 

Step 2: Plan Your Campaign 

Once you have the groundwork done, you can start planning the campaign. 

Here’s what you’ll need to consider when you’re putting together an outline: 

Decide on How Many Emails You’ll Send

Most campaigns have between 4-7 emails. 

How many you need will really depend on how many you think it will take to achieve your goals. This will depend on how warm your audience is and what stage of their journey they are on. 

If you are just creating a campaign to get people to attend a free event, it will take fewer emails than convincing people to buy a high-ticket product. 

Choose One Goal for Each Email 

For the best results, your emails should just do one thing. Email marketers like to refer to this as “the rule of one.” 

You want to make it as easy as possible for your subscribers to complete each task or move from email to email without becoming overwhelmed.

If you set a clear goal for them in each email in the campaign, you make it easy for them to move through their journey. Otherwise, they can be overcome by too many choices and won’t take action at all.  

Step 3: Write The Content 

This is one of the most challenging parts of creating an email campaign. Especially if you are selling anything, it will take real skill to get the copy on point to see results. 

The best way to make this work is to hire an email copywriter, but you can also try writing your emails yourself. Here’s what you’ll need to do to have compelling content: 

Use Templates 

If you want to write the copy yourself, it’s a good idea to use templates. You’ll get editable copy that is primed to psychologically move your subscribers through the campaign journey and uses marketing tricks to convert better. 

Just make sure that if you use templates, you have permission. Do NOT try and copy emails others send to your inbox—it’s not worth getting caught!

Write the Subject Lines 

Surprisingly, subject lines are the hardest part of the email to write. 

You are competing with all the other emails appearing in someone else’s inbox, so you need to stand out, without resorting to clickbait. 

There’s a fine line between catching someone’s attention and tricking them, so think long and hard about what would get someone to open an email, but that still reflects exactly what’s inside the email. 

You can also find suggestions and templates online for subject lines that consistently perform well. You may also be able to find suggestions directly from your email marketing platform of choice. 

Use an Email Marketing Service 

Not all email marketing software tools have templates, but many do. 

They’ll be able to give you an idea of where to add content, how to structure your emails, and what to include to get results. You can use them to help you structure your campaigns, add CTA’s in the right places, and improve your chances of getting your emails opened. 

Hire a Copywriter 

If you really want to boost your chances of getting your emails opened, you should hire a copywriter. 

Email copywriters will know how to write subject lines that get clicked, and how to write content that gets people to take action. They’ll be able to use marketing formulas and the right language to get you results. 

It’s a skilled job for a reason—it takes a lot of learning and practice to write a good email campaign. If you want to see good ROI for your emails, this is the best way to go. 

Step 4: Set up the Campaign 

Once you have your content, you’re ready to actually add it to your email marketing software. 

If you are using the right software, this should be easy. You’ll just need to add in your text, play with the formatting, and decide on the elements you want to add. 

Here’s what you’ll need to set up: 

Add the Copy to the Emails 

With some email marketing platforms, this is as easy as just copying and pasting your content into your email marketing platform. 

With other platforms, you’ll then have to reformat things like italics, links, bullet points, and bolded texts. 

You should check everything carefully to make sure it’s spelled correctly, and send yourself a test email to check for any errors. 

Add any Images or Extra Features 

Images aren’t necessary (and honestly, will just raise spam rates for most emails)

However, sometimes adding a meme or a screenshot can be useful – like a screenshot of a client testimonial. Most email marketing platforms let you easily add in images, gifs, or even emojis. 

Try playing around with what feels right and what fits your brand. Just remember that the more photos or large images in your emails, the more likely you will end up in the spam folder. 

You should also add buttons here to help make your CTAs clearer and easier to find.

Add Any Links or Downloads 

The next thing you’ll want to do is check that any links or downloads are working. 

You can add these directly through the email editor. Again, remember to send yourself a test email when you’ve finished editing to check all the links work and go to the right places. 

Add the Recipients 

You’ll also want to choose and add recipients to your campaign. 

If you’ll be setting up a triggered automation based on behavior, skip to the next step. But if you want to send it to a segment already on your list, now’s the time to select them and get them set up to receive it. 

How you do this will depend on your email marketing software. If you’re lost, you can usually reach out to most email marketing platforms directly for support or read their FAQs. 

Usually, though, you can select Send To and then choose the list or the tag you want your campaign to be sent to. 

Step 5: Add Automations

If you want to get the most out of an email campaign, you should try to set up automation. 

This just means that your subscribers will be tagged based on how they interact with your emails. You can then use this to trigger more emails, or just understand your audience better. 

Here are things you should think about setting up: 

Automate Who Gets the Emails 

If you’re sending out emails to a specific segment of your list, you can automate anyone with a specific tag to receive emails. If you want everyone who behaves a certain way to receive an email, you should automate your email to be triggered by behavior, such as subscribing to your list. 

This helps you save time and makes sure no one misses an email. If you’re sending all your emails manually, it’s easier to make a mistake or forget one of your subscribers. 

Segment Based on Action 

Something else you can do with your email campaigns is to use them to segment your list. 

Segmentation of your list allows you to send more relevant emails to your subscribers, which boosts conversions and brings down spam rates. 

You can segment them with things like Interested in Free Training if they click the link, or VIP Subscribers if they open every email. This might not help you get sales or achieve your campaign goal immediately, but it will help you have more successful campaigns in the future. 

Trigger Emails Based on Behavior 

Another way you can automate your campaign is by triggering emails or actions based on how they interact with your campaign. 

For instance, if someone clicks through a link to buy your course, then clicks away without purchasing, you can automate them to receive a retargeting email. 

Step 6: Test Your Campaign 

To get the most out of a campaign and make it as successful as possible, you should test and analyze it to see if it’s working. 

When you test your campaign and try different things, you should hopefully be able to boost your open rates and tweak your campaign until it’s as successful as possible. This includes changing subject lines, CTAs, or even images. 

The great thing about email campaigns is, unlike newsletters, you can send them out multiple times and keep seeing results. So, it’s important to optimize them as much as possible so that every time you send them out, they convert better. 

Analyze the Results 

The first step to testing your emails is to assess how well they are working. 

This includes looking at open rates, click-through rates, how far through the sequence people are getting before they stop opening emails, and looking at unsubscribe rates. 

It’s a good idea to research the normal rates for your industry, so you have a benchmark to measure whether your emails are underperforming or overperforming. You can also look at each email in the campaign and see which ones are getting more opens and which ones aren’t.

Try A/B Testing 

Once you have an idea of what’s working and what isn’t, you can start testing different things to try and improve your results. 

A/B testing is available on most email marketing platforms, and just means trying one thing with half your subscribers and another with the other half. After you’ve sent out enough emails to see whether option A or B works best, you can start using the most successful one with all your subscribers. 

This is a good way to look for patterns, and you can use it with everything, including CTAs, subject lines, and formatting. 

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