Whether you launch a side business to supplement your income or engage in business full-time, it’s always possible to generate good profits when starting an ATM business. Consumers are constantly in need of cash, especially for brick-and-mortar retail stores, bars, restaurants and other types of small businesses. ATMs are fairly easy to set up, and when placed strategically, they provide an excellent source of passive income. If you’re considering placing an ATM in your existing business or start a standalone ATM business for yourself, here’s what you need to know to get started.
To Own or Not to Own?
One of the first questions you’ll want to ask when starting an ATM business is whether or buy one or more machines outright or whether to let a third-party company place and manage your ATMs for you. There are a number of reasons to consider purchasing your ATMs, not the least of which is that you get to keep all the profits and you’ll make more money per machine. The “downside” is that there’s more work involved in owning and managing your own machine, and you’ll need to learn a bit about ATM processing. For this reason, some business owners find it more convenient to work with a turnkey ATM provider like National ATM. While the amount of profit per machine is less, it’s also a lot less work because someone else is taking care of managing the machines and tracking the transactions. It allows you to enjoy the business benefits of ATM ownership without actually buying it — plus, it’s basically passive income for you since there’s little or no work involved.
Choosing the Right Machines for Your Business
The next step is to decide which ATM machines would work best for your business. This decision hinges largely on where and how the machines will be placed. ATM machines can be standalone, table-top or permanently installed in the wall. They can be placed for outdoor use, and nowadays there are even wireless ATM machines available for locations where running a phone or data line would be inconvenient. You may choose from a variety of models and types, depending on where the machines would best be placed. Our experts can help you make these decisions, as well.
Because ATM machines are basically portable banks with cash inside, when considering how to start an ATM business, you always want to be proactive when it comes to security and preventing theft. For these reasons, we recommend placing your ATMs in locations that are easy to monitor, either visually or by security cameras. Choose an ATM from among the more reputable brands like Hyosung, Triton or Genmega. We can also provide insights on the most secure ATM models so you can rest assured your investment is kept safe.
National ATM Wholesale is ready to partner with you to help ensure your ATM business is a success. For more information, call us 1-866-295-2329.