If you find that your customers are constantly asking where to find the nearest ATM machine, it might be worth exploring how to get an ATM machine installed inside your business. Not only does an ATM provide a convenient service for your customers, but it can also increase the money they spend while shopping at your business while providing an added source of income through surcharge revenue.
On the surface, figuring out how to get an ATM machine might seem like a complicated idea that’s not worth the hassle. However, having an ATM installed in your business is a lot easier than you think, especially with the help of a company like National ATM Wholesale.
Is a New ATM Machine Right for My Business?
The first and most important question to ask is whether your type of business is a good candidate for ATM placement. Providing convenience for your customers is one thing, but on the other hand, business owners shouldn’t invest in something that’s only going to take up valuable floor space without providing a good return on investment.
That being said, certain types of business do quite well by providing an ATM solution, including the following:
- Convenience stores. (This is often the first place people look for ATM machines besides banks.)
- Gas stations.
- Restaurants and bars.
- Music venues/event spaces, especially those with bars or vending services.
- Other small businesses that prefer taking cash to running a credit card.
Bottom line — if your business does best with cash purchases (or is cash only) and/or gets a fair amount of foot traffic, chances are an ATM is a good idea.
Where to Place Your ATM Machine
Location is everything when it comes to ATM placement, so the next thing you need to think about is choosing a good location for your machine in your place of business. Some factors to consider:
- Choose a spot that’s easy for customers to find and access. (Having an ATM won’t do you any good if people can’t find it.)
- Choose a place in a high-traffic area of the store. Foot traffic is a key ingredient in making your ATM profitable.
- Choose a location that is visible, well-lit and secure. You want customers to feel safe using your machine to access their bank account and taking out cash.
- Make sure your location has access to electricity and a phone line.
To Own or Not to Own?
Once you have a location for your ATM in mind, your next question is whether to buy your own ATM or work with an ATM company. It will cost more upfront to buy an ATM machine outright, not to mention the need to stock the machine with cash and take care of maintenance. The tradeoff is that ATM owners get to keep all profit from the ATM surcharges minus any processing fees. The machine soon pays for itself, and before long, the business owner enjoys a significant additional stream of passive income.
That said, if you don’t have the money or time to maintain your own ATM, but you still want the benefits of having one in your business, an excellent alternative is to form a partnership with an ATM provider like National ATM Wholesale. Under our placement program, National ATM owns the machine, installs it, maintains it, handles cash management, and takes care of everything else the machine needs to run. This turnkey solution requires no investment upfront and little work on your end. You won’t make as much money from transaction fees, but you’ll experience all the other benefits of having an ATM installation. (Studies show that customers spend more money at a business if they’re able to use an ATM there to make a cash withdrawal.)
Starting an ATM Business
One other option to consider: Some business owners and entrepreneurs find their ATM machines so profitable and easy to maintain that they prefer to launch their own ATM business. Many people have generated passive incomes of six figures or more by placing ATMs in strategic locations with high foot traffic. The investment is not as much as you would think, and the payoffs can be tremendous with the right business strategy. Reach out to us to learn more about this exciting option.
Working with an ATM Partner
Whether you choose to buy an ATM or work with a placement program, it pays to have a reputable ATM provider like AtmMachines.com, LLC to partner with. Even if you purchase your machine outright, we have solutions to help you with purchase, installation, maintenance and even vault management.
AtmMachines.com, LLC is a dealer for respected brands like Triton, Hyosung and Genmega, and we can also help you assess your options so that you choose the right ATM with the features you need. ATM companies like AtmMachines.com, LLC can also take care of installation and assist with maintenance and vault management. We’ll make sure you have the support you need to make your ATM profitable, whether or not you buy it outright.
Perhaps the best part of installing an ATM at your business is that you have options. Whether you own a convenience store, gift shop or bar; whether you want to own and manage your own ATM, or whether you want us to take care of those details for you, there’s a path to ATM profitability that is tailor made for you and your business. Let us work with you to find the right solution. To learn more about how to get an ATM machine in your place of business, including ATM ownership, free ATM placement and other details, call us today at 1-866-295-2329.