Finding Perfect Locations for Your ATM Business

One of the most important decisions you must make upon starting an ATM business is where to place your ATM(s). How do you know if you’re placing your ATM in an optimal location? These are the four qualities that you should look for in a perfect ATM location:

  • Ample foot traffic. It’s simple math. The greater the number of people who walk by your ATM, the higher the chance that they will stop to take out money.
  • Proximity to cash need. While foot traffic plays a large role in strategic ATM placement, you also need to ask “why would someone need cash here in the first place? You probably don’t want to go out of your way to put an ATM near a cashless restaurant, even if it’s located on a street that receives a lot of foot traffic. Look for cash-only establishments or businesses that rely on cash tipping to pay workers.
  • Safe and secure. Make sure your ATM is installed in a well-lit area with 24/7 surveillance. Not only do you want to prevent tampering and vandalism of your ATM, but you also want to make sure customers feel safe to use it.
  • Convenient for you. If you place an ATM too far away from your home base or off the beaten path of a larger ATM route, you’re increasing your travel and service time.

Here are 10 examples of perfect ATM locations that tick all of the boxes above:

1. Restaurants and bars

While an ATM is a necessity in cash-only restaurants and bars, they are also useful in establishments that accept cards since many servers and bartenders prefer receiving tips in cash.

2. Concert venues and sports arenas

Merchandise booths and concessions are often cash-only, so an ATM ensures that customers don’t have to miss out on that snazzy band t-shirt or enormous baseball hot dog.

3. Pop-up outdoor events

Mobile ATMs are ideal for festivals, farmers’ markets, flea markets, bazaars, and county fairs since many vendors and activities require cash.

4. Gas stations, convenience stores, and grocery stores

When was the last time you visited a gas station, convenience store, or grocery store and didn’t see an ATM?

5. Tourist attractions

No tourist likes walking around an unfamiliar city in search of an ATM. Placing an ATM close to a major tourist draw ensure quick, fuss-free cash access.

6. Hotels, motels, and resorts

Plus, an on-site ATM makes it easy for guests to tip service staff — from the housekeeping team to the hotel bartender.

7. Campgrounds and RV parks

When a camper has a late-night craving for a bag of cheesy poofs, having 24-hour access to an ATM ensures they have what they need for a cash-only vending machine.

8. Beauty salons

Businesses that specialize in cosmetic and personal care services — including nail salons, hair salons, waxing studios, and more — encourage cash tips for their estheticians, stylists, and technicians.

9. Marijuana dispensaries

Cash-only transactions are generally required for dispensaries due to federal law.

10. Adult entertainment venues

Performers and servers working at adult establishments rely on cash tips.

Have more questions about finding the perfect ATM locations? Give AtmMachines.com, LLC a call at 1-866-295-2329.

Opening an ATM Business? 3 Pitfalls to Avoid

Starting an ATM business has the potential to transform your life. Decent money, a flexible schedule, and short hours? No wonder so many people are drawn to this line of work! Even so, it’s important to remember that an ATM business isn’t a “get rich quick” scheme. Here are three of the most common pitfalls people encounter when starting an ATM business.

1. Cutting corners by purchasing used ATM equipment.

The initial start-up costs for an ATM business can feel a bit steep, which is why many new business owners find themselves curious about used ATMs on sites like ebay. We recommend against going this route. First and foremost, used ATMs may not be compliant with current rules and regulations for ATMs. While you can certainly update your ATM to meet these standards, it’s often more cost-efficient to just buy an entirely new ATM. Another reason to avoid used ATMs is because, unlike brand new ATMs, used ATMs are almost never protected by a warranty. Finally, there’s the issue of customer psychology. If your secondhand ATM is especially old and beaten up from years of use, potential customers may think it looks untrustworthy and avoid using it altogether.

2. Placing ATMs in inconvenient, low-traffic spaces.

When it comes to ATM businesses, geography will be your key to success. Obviously, you are going to want to find locations that are highly visible, safe, and receive ample foot traffic. This is a no-brainer. However, you also want to take into account the range of your ATM servicing route, too. The farther your ATMs are from each other and your home base, the more time you will need to spend driving between them.

3. Neglecting to properly protect your ATM business.

When you start an ATM business, it’s important to acknowledge that things can and do go wrong. All the time. That’s why it’s crucial to be prepared for anything that comes your way.

  • Install ATMs in safe locations with necessary security features. An ATM machine is a huge investment — especially when you’re just starting out. Make sure you’re doing everything in your power to protect that asset. In addition to placing your ATM in a safe, well-lit area, it’s also a good idea to equip your ATM with any necessary security and surveillance features.
  • Make your business partnerships official. This means getting signed contracts with any business owners that clearly spell out the terms of ATM placement. We recommend consulting with a lawyer on drawing up these kinds of documents.
  • Get ATM insurance. Any legitimate business should have insurance, and ATM businesses are not exempt from that. As with any type of insurance, it can pay to shop around.
  • Vet your employees. At a certain point, your ATM business may grow large enough to require employees. Since you’re working with such vast quantities of money, carefully vetting potential employees prior to hiring will prevent you from getting burned later.

Have more questions about starting your ATM business? Give AtmMachines.com, LLC a call at 1-866-295-2329.

How to Earn Passive Income with ATM Machines

An ATM business is widely considered to be one of the most reliable ways to earn passive income these days, but how? Having been in the ATM business game for years, our team at AtmMachines.com, LLC knows a thing or two about making a healthy profit from our passive income earnings. In this post, we identify the two basic steps involved in earning passive ATM income.

Step One: Lay the groundwork for your ATM business

Before you start making any passive income from your new ATM business, there are some upfront investments you must make. These upfront ATM costs include:

  • Buying the actual ATM: The cost of an ATM machine can range from as low as $1,000 to as high as $10,000. At AtmMachines.com, LLC, we sell a wide range of ATM machines by Hyosung, Genmega, and Triton.
  • ATM insurance: Having insurance is the best way to protect your business in the event of crime, equipment loss, and liability. Just like any other type of insurance, you’re likely to find the best deals by shopping around.
  • Vault cash: ATMs need a steady cash supply to properly serve customers — meaning, you need to be able to load several thousands of dollars of cash into your ATM. At AtmMachines.com, LLC, we offer a vault cash program that simplifies cash access for your ATM business.

When you add up all the upfront costs of an ATM business, it may seem like a lot at first. However, keep in mind that your start-up costs begin paying off from the moment you place your first ATM. That brings us to the next step in earning passive income with ATM machines…

Step Two: Pay off your initial start-up costs … and profit!

Depending on how strategically your ATM was placed, you can easily earn tens of thousands of dollars each year from a single machine’s fees. With such a robust rate of return, it does not take long to pay off your initial business start-up costs and begin profiting.

Aside from any ATM fee revenue you’re sharing with merchant partners, the ongoing overhead costs for an ATM is close to nothing. If your ATM is installed in an already existing business, you don’t even have to pay for electricity. (Of course, you can enjoy an even greater profit if you already own the property an ATM is installed on — no need to pay someone else a cut of your money.)

Since many ATMs may be used 24 hours a day, 7 days a week, you’re literally making money in your sleep. Now that’s passive income!

Have more questions about how to earn passive income with an ATM business? Give AtmMachines.com, LLC a call at 1-866-295-2329.

ATM Businesses: How Much Work Is Required?

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? AtmMachines.com, LLC 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 AtmMachines.com, LLC a call at 1-866-295-2329.

What is a Mobile ATM?

Whether you’re hosting a music festival, trade show, fashion expo, flea market or some other outdoor special event, providing easy access to cash is a must. If your attendees have to go offsite to find an ATM machine, chances are they won’t come back. Mobile ATM machines provide a perfect solution to this dilemma, not only for the added convenience for your guests, but also for improving vendor sales and even bringing in supplemental income in the process.

As the name suggests, a mobile ATM is a standalone unit that can be moved according to need, allowing it to be placed nearly anywhere. Mobile ATMs can be strategically placed where visibility and foot traffic are highest so your event attendees can easily spot them. And since they transmit and receive data wirelessly, there’s no need for a phone line connection — all that’s needed is a power source.

Advantages of Using Mobile ATMs

Why should you consider installing mobile ATM machines at your next special event or outdoor event? Let’s look at a few key reasons:

  • More revenue for your vendors. Most of the cash withdrawn from event ATMs will spent at the event — and some of your vendors will probably operate cash-only. By making cash readily available to attendees, you’ll improve your vendors’ profits, incentivizing them to return for your next event.
  • Convenience for your attendees. Your event attendees need access to money to spend at your event. If a vendor only takes cash and the attendees’ cash is running low, they’ll either stop spending or go offsite hunting for the nearest ATM. If they leave the premises, there’s a good chance they won’t come back. Providing this courtesy makes it easier for attendees to enjoy the event while keeping an uninterrupted cash flow.
  • Place ATMs strategically for maximum use. No need to worry about phone lines because mobile ATMs are equipped to conduct transactions wirelessly. As long as you can plug the machine into a power source, you can place it wherever most people who need it will be hanging out.
  • Weather proof. Worried about bad weather? Don’t fret; many mobile ATMs are designed to be used outdoors, even in rainy or cold conditions.
  • Supplemental revenue. When you work with an ATM provider like National ATM, you receive a portion of the service fee for every transaction. This provides an additional source of revenue to help you offset the cost of the event and even increase profits.

Where Can a Mobile ATM Be Useful?

Mobile ATMs provide added convenience and boosted profitability for many types of events, such as:

  • Outdoor concerts and music festivals
  • Home improvement expos
  • Auto, boat and RV shows
  • Merchandising trade shows
  • Annual fairs
  • …and much more!

Don’t miss the opportunity to improve profits and customer experience at your next outdoor event. To learn more about how to install mobile ATMs at your event, call AtmMachines.com, LLC at 1-866-295-2329.

The Most Secure ATM Models

When you’re trying to start an ATM business, proper security is naturally one of your most important concerns. Not only do you want to protect your machines and the cash inside them, but your customers’ sensitive banking information must also be protected from skimmers and identity thieves.

There are some common-sense things you can do to keep your machines safe, such as placing them in visible, well-lit areas or under the watchful eye of security cameras. But some ATM machines also come equipped with enhanced security features for even greater peace of mind, both for you and your customers. Let’s take a look at a few of the most secure ATM models.

Nautilus Hyosung Halo II

Known for its affordability and ease of use, the Halo II is also recommended for having a great array of security features for its price point. Aside from having an attractive design and user-friendly interface, this machine includes such security enhancements as:

  • Robust UL 291 business-hours safe with break-in protection
  • Reinforced metal frame
  • Front metal plate for added protection
  • EMV card reader with anti-skimming protection
  • PCI 3.0-compliant keyboard
  • TLS transmission encryption for secure transmission of data

Genmega Onyx

A great standalone machine for public locations like retail, gas stations and hotels, the Genmega Onyx is built for security and durability with a strong frame and enhanced features, all with a sleek, state-of-the-art design and visible signage. The Onyx is equipped with the following security features:

  • Security reflective screen, designed to keep sensitive information private from onlookers
  • Touch keypad
  • UL 291 business-hours safe
  • Dial or electronic lock
  • DIP card reader with optional EMV capability

Triton Traverse

Triton ATMs in general are known for their standard array of security features, which include malware-resistant software, firewall protection and SSL transmission. The Triton Traverse is specifically designed for high-traffic retail environments, combining durability and user-friendliness in a sleek, space-saving design. Security features in the Traverse include:

  • UL 291 business-hours safe
  • Dip and/or EMV card reader
  • TCP/IP with SSL encryption
  • Optional enhanced electronic locking
  • Optional Triton Key Management—a secure master key access system
  • PCI 3.1 compliance

Triton Argo

Hailed as the “ATM of the future,” the Argo is Triton’s top line product, offering not only the best in design in user experience, but also enhanced security features at every level. In addition to the standard Triton security enhancements, Argo machines offer the following:

  • UL 291 business-hours safe
  • Dip and/or EMV card reader (motorized EMV option)
  • TCP/IP with SSL encryption
  • Optional enhanced electronic locking capability
  • Optional Triton Key Management—a secure master key access system
  • Optional camera
  • High security panel lock

These are just a few of the ATM machines available with enhanced security features to help ATM business owners protect both their machines and their users’ sensitive information. AtmMachines.com, LLC is pleased to offer these and other secure ATM models to our customers. To learn more about ATM machines with security enhancements for your business, call us at 1-866-295-2329.

How to Get a Cannabis Dispensary ATM

If you operate a cannabis dispensary or are planning to open one, you already understand the challenges marijuana dispensary businesses have with processing payments. While an increasing number of states have legalized marijuana for medical or recreational use, the federal government still considers it a Schedule 1 controlled substance. This means most banks and credit card companies can’t legally conduct transactions with you, so accepting debit/credit cards and checks are a risky venture at best. One of the best ways to ensure your customers have easy access to cash is by placing a cannabis dispensary ATM machine on site. Let’s discuss a few options you have for doing so.

Buying an ATM Machine Outright

With a bit of up-front investment, you can purchase an ATM outright to place in your dispensary. Having ownership of the machine comes with a number of advantages, especially when you purchase from a reputable company like National ATM. These advantages include:

  • Turnkey operation: Installation and signage are included, along with warranty coverage.
  • Increase in sales: More than 50 percent of users of your ATM will buy in your store — and for cannabis dispensaries, this percentage is likely higher since your customers are required to pay in cash.
  • Convenience for customers: You’re providing additional value for your customers by providing easy cash access.
  • Additional source of revenue: When you own the machine, you get to keep all the transaction fees, which not only helps the machine pay for itself but provides you an additional source of income.

The main downside of owning the ATM is that you’re responsible for maintaining the machine, including keeping it stocked with cash. However, when you’re running primarily a cash business, this burden shouldn’t be too difficult to bear.

ATM Placement Program

If you simply don’t want the added responsibility or expense of buying and maintaining your own ATM machine, another option is to contract with the ATM company for an ATM placement program. Under these terms, the company retains ownership and maintenance of the machines while giving you a percentage of the transaction fees in return for providing the placement space. Benefits of this type of arrangement:

  • No out-of-pocket expense: Placement is free of charge.
  • Hassle-free operation: The ATM company takes responsibility for placing, installing, maintaining, stocking and repairing the machine.
  • Simplicity: ATM placements offer convenience for your customers, and increased sales for you, without the headaches of maintaining the ATM.

Bitcoin ATMs for Dispensaries

Yet another option to consider — or an additional option to installing a cash ATM — is to place a bitcoin ATM in your cannabis dispensary. With the current limitations dispensaries have in conducting transactions, many are accepting bitcoin and other cryptocurrencies as forms of payment. Because crypto is both unregulated and secure, it is a viable way for customers to conduct cashless transactions if they so choose. Installing a bitcoin ATM gives your customers yet another way to pay.

If one or more of these ATM placement options appeals to you, we can help. To learn more about getting a cannabis dispensary ATM for your customers, call AtmMachines.com, LLC today at 1-866-295-2329.

The Rise of Blockchain & Cryptocurrency ATMs

From the moment we became able to purchase goods and services electronically and online with the click of a button, it seems that the evolution of cryptocurrency was inevitable. After all, if we can transfer money digitally, it naturally follows that our currency might become digital, too. As various cryptocurrencies like bitcoin have mushroomed in value, more businesses have started accepting them as forms of payment — which in turn, has made the rise of blockchain and cryptocurrency ATMs inevitable, too.

For consumers and business owners who are new to the idea of cryptocurrency and bitcoin ATMs in general, let’s give a little background on the idea of blockchain and how cryptocurrency works.

What Is Blockchain?

Blockchain technology serves as the foundation of all cryptocurrency — but what, exactly, is blockchain? Put as simply as possible, blockchain is a form of secure data entry that is updated simultaneous on all computers connected to a network (a peer-to-peer, or P2P, network). At its heart, it’s not that much different than an open-source, community-driven platform like Wikipedia. Virtually anyone can create and edit entries in Wikipedia, and the entry will update automatically for anyone who accesses that entry. The biggest difference with blockchain is that it is encrypted data.

How Blockchain Works with Cryptocurrency

When someone makes a cryptocurrency transaction — for example, when someone purchase bitcoin, or uses bitcoin to make a purchase — that transaction is recorded in the blockchain and instantly propagated across all computers in the network. (This makes transactions exceedingly simple since bitcoin and similar currencies are effectively data.) What makes blockchain so effective in this case is that the transactions are both secure and transparent. They are secure because they are encrypted, making it difficult for hackers to tamper with them; and they are transparent in that every computer updates with the same information, so it is very difficult (if not impossible) to tamper with the books or hide transactions.

What this technology means for bitcoin users is that every time you conduct a transaction with bitcoin, it instantly and securely registers across the global network how much you bought or spent while still protecting your identity and privacy. This makes it incredibly easy to conduct transactions across the world with little risk of theft or tampering.

Which Types of Businesses Benefit from Cryptocurrency?

Cryptocurrency is now being accepted by a wide range of businesses, ranging from e-commerce sites to local retailers to national chains like Subway. Specifically, cryptocurrency might be a good fit for your business in any of the following situations:

  • If you conduct transactions internationally. Cryptocurrency bypasses many of the complex foreign banking processes.
  • If you conduct a lot of business online.
  • If you run a marijuana dispensary. While cannabis is becoming legal in many states, the federal government still considers it a controlled substance, which means federally insured banks can’t do business with dispensaries. Cryptocurrency gives you an alternative form of payment to cash-only or running funds through a bank.
  • If you simply want to provide an alternative form of payment.

If your business accepts bitcoin or other cryptocurrencies as a form of payment, it might be in your best interests to install a bitcoin ATM in your place of business to make it easy for your customers to use this form of payment. To learn how we can help, call AtmMachines.com, LLC at 1-866-295-2329.

Using Mobile ATMs for Special Outdoor Events

When you’re organizing any kind of special outdoor event — whether it’s a concert, festival, trade show, expo or any other kind of large gathering outdoors — one of your biggest challenges is making sure your attendees have easy access to cash. Quite often, the event’s success hinges on how much money people spend and how much revenue your vendors can take in. Not all vendors can process credit cards, and if attendees start running out of cash, the last thing you want is for them to leave the event to find an ATM. In these cases, special event ATMs can make the difference between success and failure for your outdoor event.

Why Provide Mobile ATMs at Your Event

A mobile ATM machine is just as its name suggests: it’s a standalone machine that is designed for easy, flexible placement. By using mobile ATMs at your special outdoor event, your attendees can easily spot the nearest place to get extra cash — and studies show that most of the dollars withdrawn from these ATMs get spent at the event itself. This results in the following benefits:

  • Increased profits for vendors. With easy access to cash and uninterrupted cash flow, vendors almost always make more money when ATMs are nearby. (This means they’re more likely to come back for your next outdoor event.)
  • Increased attendee satisfaction. If event attendees run out of cash, they typically either leave the grounds to find an ATM, or they simply stop spending money. Either way, you’ve made it inconvenient for that attendee to be at your event, and less likely to come to the next one. ATM placement helps ensure a positive experience.
  • Income boost for you. By working with a provider like National ATM, you will receive a percentage of the service charge for each transaction — and since lots of people will be using these machines, that can add up to a significant boost in revenue.

Advantages of Mobile ATMs

Strategically placed mobile ATMs offer many advantages with practically no down sides. Let’s look at a few of these features:

  • Flexible placement. Because these machines are mobile, you can place them strategically for maximum exposure and foot traffic. If a particular location isn’t seeing enough traffic, you can move it.
  • Weather proof. With outdoor ATMs, there’s no need to worry about rain or inclement weather; they’re designed to be used safely outdoors.
  • Wireless capability. Mobile ATMs are designed to conduct transactions wirelessly, so there’s no need for phone line access. All you need is a power source.
  • Stress-free. When you work with a provider like National ATM, these machines are placed and maintained at no cost to you. Just relax and enjoy the benefits of customer convenience and your share of the transaction fees.

Special outdoor events that offer mobile ATMs for their attendees typically see a dramatic increase in profits compared to the alternative. To learn how easy it is to include mobile ATM machines at your next special event, call AtmMachines.com, LLC at 1-866-295-2329.

Earning Passive Income With an ATM Business

Most brick-and-mortar business owners realize that having an ATM can help them generate more cash customers. But have you stopped to consider that an ATM machine itself can be an excellent source of revenue? More and more entrepreneurs are discovering the possibilities of earning a steady source of passive income by building their own ATM business.

How ATMs Generate Passive Income

The idea behind passive income is that you receive maximum returns for little or no input—as opposed to active income where you must consistently work your business to get it to turn consistent profits. Here’s why ATM machines can generate great profits as a passive source of income:

  • Turnkey operation. Once the ATM machine is installed and set up, it operates on its own with no further input or monitoring required.
  • Low maintenance. Occasional restocking and periodic maintenance are generally all that’s required to keep the machine running.
  • Virtually no overhead. Beyond the initial purchase of the machines (if you own them outright) and occasional servicing, ATM machines operate with minimal cost. If you place them in other places of business, those businesses are even providing the electricity. And since you contract with those businesses to share the service fee, you never feel the out-of-pocket expense.
  • Profits go up — expenses don’t. The longer your ATMs run, the more money you make. Meanwhile, your operating expenses never increase, so your profit margin grows exponentially with time.
  • 24-7 revenue. Since customers can use the ATM 24 hours a day, 7 days a week, you can literally be making money while you sleep — the ultimate in “passive income.)

Tips for Maximizing Revenue with an ATM Business

Whether you invest in one ATM machine or dozens, the following common-sense tips will help you make the most of your investment:

  • Place ATMs in high traffic locations. Target locations and businesses where customers spend a lot of cash. Make sure signage is clearly visible.
  • Invest in secure, tamper-proof ATM models. Since each of your machines operates as a miniature bank, your primary safety concern is to guard against theft. Be willing to spend a few extra dollars on secure machines with tamper-proof features.
  • Place machines in secure locations. If you place machines outside, make sure they are placed in well-lit areas, preferably with security monitoring. When you place ATMs in places of business, ask about building security and camera monitoring, and make sure you are comfortable with the location before leaving it.
  • Negotiate fair fee sharing. If you place a machine in a high-profile business with lots of foot traffic, incentivizing the merchant with a generous fee sharing offer will help ensure that merchant encourages more customers to use the machine — resulting in greater profits for both of you.

Interested in starting your own ATM business? AtmMachines.com, LLC can help! To learn more about opportunities to earn passive income with an ATM business, call us today at 1-866-295-2329.