People always need cash, and they like being able to get it on the go. An ATM machine can be a great way to earn passive income — and more so if you turn it into an ATM business with multiple well-placed machines. But even so, there are steps you can take to maximize your profitability. One of the tricks to building a successful ATM business is to generate as much traffic to your machines as possible. Let’s look at seven ways you can encourage more visits to your ATM machine.
1. Place ATMs in businesses with high cash volume.
One of the best ways to maximize ATM revenue is to put your machines in places where people are most likely to use cash for purchases. Convenience stores, bars, arcades, laundromats, trade shows, marijuana dispensaries — virtually any location where the owners, vendors and/or customers need convenient access to cash.
2. Keep service charges competitive.
As ATM service fees continue to rise across the board, ATM users tend to remember the machines that charge the least in fees. Try to use this to your advantage. If the bank ATM two doors down charges $3 per transaction and your machine only charges $2, which machine do you think customers will choose? The increased foot traffic should more than make up for the discount you offer.
3. Offer discounts for cash purchases.
This technique is primarily geared for brick-and-mortar businesses who keep an ATM in their place of business. Many shop owners offer their customers a discount for cash purchases versus credit card — which makes sense considering that merchants are charged their own fee per credit card transaction. If customers know they will pay less for something if they pay cash, they’re more likely to visit your ATM before coming to the counter.
4. Place ATMs in areas of high visibility and easy access.
You want to make your ATM as easy as possible to see, and you want to make it as easy as possible for visitors to access it. Make sure the ATM is placed in a prominent location in plain view, and make sure the walkway to the ATM is open and clear so customers don’t feel they’re navigating a maze to get there.
5. Keep surrounding areas open and well-lit.
Since ATM users are inputting sensitive information and obtaining cash, they need to feel as safe as possible while doing so. Placing an ATM in a dark corner could make users feel vulnerable to thieves looking for an opportunity. Make sure the ATM is in an open, well-lit area so users feel safer.
6. Use appropriate signage.
People won’t use an ATM machine if they don’t know it’s there. Wherever appropriate, place visible signage on or around the ATM machine. If you’re placing it in someone else’s place of business, ask the owner for permission to place signage in the windows letting passers-by know there is an ATM in the store.
7. Keep machines well-stocked and in good working order.
If a visitor approaches your ATM and finds it out of order, there’s a good chance that user won’t be back. One key to maintaining consistent foot traffic is to make sure the machine is always stocked with cash and working properly.
National ATM Wholesale is committed to helping you maximize profits from your ATM machine business. For more information, give us a call at 1-866-295-2329.