Ready to Start Your Own ATM Company?

Author Justin Gilmore

So you’ve been looking for ways to generate passive income, and after doing some research, you’ve decided you’re ready to start your own ATM company. What’s next?

ATM machines can definitely provide an excellent source of passive income. They’re fairly easy to operate and maintain, and when you place them strategically, they’re a reliable revenue stream because people always need cash. At the same time, starting an ATM business does require a bit of ramp-up. You’ll need a business plan, and you’ll need to make some key decisions regarding how your business is going to run. Let’s look at some of the primary considerations that go into starting up a successful ATM company.

Choosing the Machines

One of the first things you need to decide is what types/brands of ATM machines to use, and whether you should buy them outright or let a third-party company handle placement and management. There’s a real trade-off to consider here: Owning the machines gives you greater control and a higher profit margin—but it also involves more work, more responsibility and more overhead costs. With a third-party company, you simply provide the space, the company manages the placement, stocking and maintenance of the machines, and while your income will be less per machine, all that income is basically passive, requiring very little effort from you.

Another consideration when choosing machines is how you will be structuring your business. For example, if your plan is to provide temporary ATM machines at large events like music festivals and trade shows, you want machines that are both portable and durable, but if your ATMs will be permanent placements inside brick-and-mortar locations, you’ll have a bit more latitude as to style and design.

Placing the Machines

One of the greatest factors in your ATM company’s profitability will be based on where you place the machines. For maximum impact, you want to choose locations with the following qualities:

  • High visibility
  • Large volumes of foot traffic
  • Good lighting and security
  • Convenient to businesses and vendors that require cash payment
  • Protected from the elements (if placed outdoors)

Securing the Machines

Since you are basically providing mobile banking stations stocked with lots of cash, ATM businesses carry some inherent risk of theft and damage. You can minimize this risk in a few ways:

  • Place machines in strategically lit locations, preferably with security footage
  • Use machines with enhanced security and tamper-proof features; and
  • Purchase ATM insurance to cover your losses in case of theft or damage to the machines.

If you’re ready to start your own ATM company, AtmMachines.com, LLC has a variety of machines and turnkey programs available to help you get started. To learn more, give us a call today at 1-866-295-2329.