Author: Justin Gilmore

Explore More ATM FAQs

One of the best ways to add another source of income to your business is with an ATM. As long as you have space for the machine, almost any business can put an ATM in a place that’s convenient for its customers and useful in producing income for your business. For most businesses, the only question is whether it’s better to buy or lease an ATM. Let’s take a look at the pros and cons of each.

Pros of Buying an ATM

When you buy an ATM, it becomes a one-time expenditure for your business that’s no different from investing in any other piece of equipment your business may need to operate. Once you put the money down to buy the ATM, you will begin recouping the money you spent on the machine. At some point, the machine will have brought in more money than you paid to buy it. At this point, you have turned a profit on the ATM and will continue to do so for as long as you have it. Perhaps equally important, as the owner of the machine, you’ll have final say on its location and the fees you’ll charge customers to use it.

Cons of Buying an ATM

Buying an ATM outright does require a few thousand dollars, and not all businesses have that much money in the budget. Also, as owner of the ATM, you’ll be on the hook for any repair costs that may come up. Like any other machine, it’s best to perform routine maintenance on an ATM to make sure it runs properly, and so you will have to budget money for maintenance and repairs. After all, if the ATM stops working, it’s not bringing in any money for your business.

Pros of Leasing an ATM

Leasing an ATM requires little money up front compared to the cost of buying one outright. If your business is in a position in which you need short-term returns, leasing an ATM could be a wise move, as the upfront investment is usually minimal. Leasing is also a good idea if you want to add ATMs at several different locations, as buying multiple ATMs at one time will come with a massive price tag. You may also want to consider leasing if you’re not sure if an ATM is the right move for your business. Leasing usually doesn’t require a long-term commitment, so you can try out an ATM for a few months and see if it’s a good fit.

Cons of Leasing an ATM

As is the case with leasing a car or home, there will be give and take with the party leasing you the ATM. You may not have control over how much you charge for each transaction or even where the machine will be placed. Also, leasing is likely to cost more in the long run than paying upfront to purchase an ATM. With a lease, you’ll always be checking to make sure the machine brought in more revenue than the cost to lease it. Obviously, this is not something you’ll have to do if you own the machine.

Ultimately, the decision to buy or lease an ATM comes down to the individual business. But if you have the capital to buy a machine outright, that’s usually going to be your best option. Also, if you plan on having the ATM for a long time, purchasing one is going to be better than leasing one. If you do make the decision to buy an ATM, let AtmMachines.com, LLC help you with that purchase, as they have two decades of experience selling ATMs to businesses nationwide.

Explore More ATM FAQs

Explore More ATM FAQs

or businesses big or small, one passive way to add extra income is by installing an ATM machine on the premises. If your business gets a lot of foot traffic or if you operate cash-only services, having an ATM in or around your business is a great idea. In fact, you may be doing yourself a disservice by not having one. Here are some of the top reasons why you should buy an ATM for your business.

1. It’s a One-Time Investment

For the most part, buying an ATM is a one-time expenditure for your business. Of course, there may be upkeep and maintenance costs down the line, but it’ll be no different from any other piece of equipment your business needs. With an ATM, you make an investment up front, but once you buy the machine, you will start to see a return on your investment almost immediately. Over time, the ATM will pay for itself, and after that happens, all of the money brought in by the machine is profit.

2. It’s a Steady Stream of Income

If you own an ATM machine, you can choose how much you will charge to use it. This is usually in the area of $2 and is based on a number of factors, but that money is pure profit. The more withdrawals are made from your ATM machine, the more money you’ll make. Even if the machine is only used a handful of times every day, that’s still a few extra bucks in your pocket. Over time, that money will start to add up and give you a steady stream of income outside of the income your business typically generates.

3. Customers Love the Convenience

Having an ATM at your business can make life easier for your customers. For many, going to the ATM is an errand, and if patronizing your business is already on their to-do list, having an ATM available allows them take care of two things at once. This helps to put your business in their good graces and enhances customer loyalty. It may sound small, but any perk you can give your customers helps.

4. It Attracts Extra Customers

Having an ATM can be a great way to lure customers into your business. If a person needs to access money from an ATM, perhaps they’ll wander into your store for the first time to use the machine, and while they are there, they see what you have to offer. This can help you convert customers you didn’t previously have. After using the ATM in your business, customers are more likely to buy and make purchases in your establishment. Studies indicate that retail locations with an ATM can increase their business by up to 25 percent per year.

Contact National ATM Wholesale to learn about our ATM programs and 19 different machine models.

Explore More ATM FAQs

Explore More ATM FAQs

Buying an ATM for your business can be a great way to add an extra source of income. Having an ATM in your business can be a good way to attract new customers, build loyalty with your existing customers, and make an investment that will pay off financially in the long run. Of course, buying an ATM isn’t exactly a common activity, and so it’s tough to know where to get one and what to look for. Here are a few things to keep in mind.

Stick To Reputable Companies

There are several places to buy an ATM, but usually it’s better to buy from a reputable ATM provider, even if you end up paying a little more. These companies can provide you with all of the information you’ll need before you purchase an ATM to help ensure you get the one that best fits your needs. There may be ways to buy from a third-party vendor on eBay or Craigslist, or perhaps buy an old ATM from another business that wants to sell theirs. However, if you’re a first-time buyer, go through a company that specializes in ATMs.

Newer Is Better

Believe it or not, there are always new advancements being made with ATM technology, and so you want to keep up with the times and buy one of the newest machines to come out. On top of that, you don’t want to settle for a used ATM from Craigslist or a company that wants to get rid of their old machine. Older machines are more likely to have problems that require repairs, ultimately costing you more than if you were to just buy a new one.

Style

Not all ATMs are the same, and so you have to be aware of the differences so you can choose the one that best fits your business. There are online ATMs that are always connected to a bank’s database, as opposed to offline ATMs that are not connected, which means they have a withdrawal limit. There are also various labels for ATMs that distinguish them others by color, including white, green, orange, brown, pink, and yellow, so you’ll need to learn the difference between each one before making a purchase.

Software and Security

Software and security are both important things to consider when buying an ATM. Some only have software for basic transactions, while others may be capable of performing more functions if they have more complex software installed. You also have to think seriously about what security features you’ll need. Companies that sell ATMs can go through all of the possible security features available, with security cameras around the machine being one of the most common options.

Where To Go

For help choosing the right ATM, consider National ATM Wholesale. Boasting two decades of experience, we have a wide variety of machines to choose from and the expertise to help you pick out the right ATM. Call us at 1-866-295-2329 today for a free consultation.

Explore More ATM FAQs