Because ATMs generate passive income, running an ATM business doesn’t require much work compared to other professions out there. However, there are three instances that you can expect to need to put in a little extra effort:
1. The initial investment of time and money to start an ATM business.
While ATM businesses tend to be pretty low-key and light on fuss once you get them going, there is usually a fair amount of work to do to get it off the ground first. This includes:
- Hours of research and coursework
- Buying ATM(s) to fill your route
- Getting ATM insurance
- Building partnerships with businesses
- Placement of ATM(s) in strategic locations
- Arranging vault cash deposits
- Implementing security measures
Luckily, these investments tend to be a one-time kind of thing, and once you’ve taken care of them, you will transition to the next phase of ATM work.
2. Regular maintenance, monitoring, and servicing of your ATM(s).
Now that your ATM business is off the ground, you can kick back and rest easy, right? Not quite. Sure, an ATM business provides you with passive income, but it’s not a completely hands-off line of work.
ATMs on your route must be refilled with cash regularly. Of course, you have to monitor your ATM’s cash supply to know if an ATM’s cash supply is low in the first place. ATMs may also require maintenance and repairs from time to time, and receipt paper is another vital component of your ATM that needs periodic refills.
Depending on the number of ATMs you have in your ATM business route, this can add up to several hours a week worth of travel and service time for each ATM. That’s why it’s important to place your ATMs in locations that aren’t totally out of the way from each other.
3. Addition of new machines into your existing route.
Another instance in which more work than usual is required for your ATM business is when you decide to add new machines to your existing route. More ATMs can mean more income for you, but it also means another upfront monetary investment (a new ATM) and increased investment in the time you spend monitoring and servicing your ATMs. If your ATM business grows large enough, you might even need to consider hiring and training new staff members to assist you with monitoring and servicing your ATM route.
Let us streamline your ATM management
Looking to simplify the time and labor you put into your ATM business? National ATM Wholesale has your back. When you partner with our expert team, you enjoy all the perks of owning an ATM business without the technical work. We offer the following ATM services and products:
- ATM machine processing
- ATM placement services
- Online trend reports
- ATM cash supply monitoring
- Daily vault cash deposits
- Receipt paper refills
- Monthly statements
- ATM repair
Have more questions about the amount of work required to run an ATM business? Give National ATM Wholesale a call at 1-866-295-2329.