There are over 23 million small businesses in America account for 54% of all U.S. sales. Small businesses provide 55% of all jobs and 66% of all net new jobs since the 1970s. The 600,000 plus franchised small businesses in the U.S. account for 40% of all retail sales and provide jobs for some 8 million people.
Best Buy is missing out on a very large opportunity to cater to this crowd. If a small business customer comes into Best Buy today, the only point of sale solution that is offered in-store is the Square reader or Square Stand. If a customer does not already own an older iPad the Square Stand is useless as it only operates with an embedded 30-pin connector.
The solution is for Best Buy to become a Lightspeed POS reseller. Best Buy would be able to demo how a small business customer could use a Mac and/or an iPad to run their retail store. If you have ever priced out an actual point of sale system they are incredibly expensive (typically in excess of $4,000 each for a full setup with computer, cash drawer, barcode scanner, etc.) and Lightspeed allows customers to create a feature-rich, scalable point of sale solution for as low as $300/mo for TWO full iPad POS terminals with barcode scanners, thermal receipt printer, cash drawer, credit card attachment and all. Not to mention customers could use a Mac mini ($599 or less) as a back office machine to be able to pull sales reports, manage employees or inventory, etc. (this could also be done from another iPad to keep expenses down).
Outside of having an in-store demo, it would be beneficial for Best Buy to have knowledgable people around how all of this operates and how to set it up and I think this would present an opportunity for Geek Squad services as most small business retail owners have a lot of on their plate and tend to just care about the solution working more than the actual setup and installation process. Just a thought.