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For all kinds of businesses, both big and small, an ATM can be a great way to add an extra source of revenue. Once you pay the upfront costs for the machine itself, most of the money from collecting surcharges is pure profit. So, just how much can your business make from having an ATM? Well, it’s not an exact science, as there are a number of variables based on different locations. However, there are formulas that you can apply, depending on your business.

Foot traffic formula

If you believe you have enough foot traffic at or near your business to warrant an ATM machine, the general rule is that roughly 4% of people who see the machine will use it. Obviously, there are no guarantees, but over an extended period of time, the rule of averages should come out to somewhere in the area of 4%. So, multiply your surcharge by four and that’s roughly the income your ATM will bring in for every 100 people who see it. If you know how much foot traffic your business gets, you can extrapolate that amount over a longer period of time.

Customer volume formula

Another formula for calculating ATM income is based on the number of customers that frequent your business. Count up the number of customers your business gets in a given day and it’ll be roughly equivalent to the number of people who will use your ATM in a month, give or take about 10%. However, if your store gives cash back or has a high volume of customers who pay via credit card, you may not make quite as much as this formula may indicate.

Hotel or residential building formula

Hotels and residential buildings are a common location for ATMs, as they help to serve your guests or residents. For these buildings, you’ll want to take the number of rooms or apartments and multiply it by your average percentage of occupancy to give you your expected amount of ATM users in a month. Obviously, there are a number of variables for hotels, but for most midsize or large hotels, there is typically enough guests to warrant an ATM.

Commercial building formula

Commercial buildings have a similar formula for hotels. However, you have to take the number of total workers in the building and multiply it by the number of workdays, as few people will be in the building on weekends and holidays. This makes it a little harder to calculate than hotels or businesses that may be open seven days a week. However, if the commercial building is large enough, an ATM should bring in enough passive income to justify having one.

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

There are a number of reasons why owning an outdoor ATM can be a better choice than one that’s inside. They are likely to see more foot traffic, and they can be used 24/7 — not just during regular business hours. However, the trade off is that outdoor ATMs require more protection. Aside from security concerns, outdoor ATMs may be affected by weather and other factors. Here are a few ways you can protect your outdoor ATM from the elements.

Overhang

A roof or overhang is almost mandatory for any outdoor ATM. It’s vital that you protect an outdoor ATM from precipitation, so having a roof above it is the least you can do. The closer to the ground the roof is, the better off you’ll be, as it’ll help shield the ATM from any rain that may be coming down sideways or debris that may be blowing in the wind. As a bonus, when customers need to use your ATM in the rain, they’ll get a reprieve from the weather conditions, which is a nice perk for them.

Plastic Shield

Most ATMs can be equipped with a thin plastic shield that can be placed over the machine’s buttons and screen. With outdoor ATMs, it’s easier than you’d expect for water and condensation to get into the small crevices between each button and cause problems. Fortunately, there are several products made of durable, airtight plastic that can cover the keyboard and screen, making your ATM resistant to weather, as well as any food or drink that customers may spill on it.

Electric Heater

One potential problem with outdoor ATMs is the possibility of the machine’s parts malfunctioning if temperatures get too cold. In areas that get warm weather year round this isn’t a problem, but everywhere else, it may be a good idea to place a small electric heater inside your ATM’s vault. It’s best if you can get a heater that runs on a timer so that it only comes on at night when the temperature drops and turns off during the day when temperatures outside are more moderate. Either way, you can’t allow your ATM to be exposed to freezing temperatures without having a way to heat it up.

Storm Preparation

An ATM is like any other part of your business; if there’s a big storm coming like a hurricane or a blizzard, you’re going to take measures to protect it. If you’re expecting a massive amount of snow or a lot of wind and rain, it’s all right to shut off service and cover your ATM until the storm passes. You may lose a little business in the short term, but it may be better to protect your outdoor ATM from the elements to ensure it can be used over the long term.

Contact National ATM Wholesale today to learn about our outdoor ATM options.

Owning an ATM for the purpose of adding an extra source of revenue isn’t always as simple as it sounds. One aspect that should not be overlooked is dealing with all the cash that physically goes in the machine so it can be withdrawn by your customers. It’s vital that ATM owners know the process of vault cash management so that it can be conducted as effectively as possible. Here’s what you need to know about each step.

Cash Source

The first step in the process is deciding whether to fill the machine with your own cash or work with a third-party cash provider. For most ATM owners, it’s unfeasible to have thousands of dollars of cash available every time you need to fill the ATM. Often, this necessitates a contract with a vault-cash management provider, like National ATM Wholesale. This may cut into some of the profits earned from an ATM, but it can also reduce a lot of the stress that comes with owning an ATM.

Tracking

Whether you fill an ATM on your own or work with a cash-management firm, as an owner, you’ll be responsible for tracking the cash that’s left in the machine so you know when it needs to be refilled. This is usually automated and can be tracked using software to make it easy for the owner to monitor the cash in the machine. However, you always have to be aware of the money left in the machine so you don’t risk running out of money before the machine can be restocked.

Schedule

When you start to run low on cash, the next step is to schedule a time to refill the ATM before it runs empty. If you refill it with your own cash, you’ll obviously want to do this at a time that’s secure and you have the time to go through all of the steps properly. With vault cash providers, you can schedule refills on a regular basis, so you know in advance when your ATM will be restocked. However, this requires data on your ATM’s use over an extended period of time, which may not be an option until you have more information on how quickly your ATM runs out of cash.

Insurance

One issue to be aware of when it comes to ATM cash management is insurance for the thousands of dollars being placed in your machine each time it’s refilled. When you use your own cash in your ATM, you generally don’t have to pay for insurance. Of course, if something goes wrong, you risk losing thousands of dollars. With a vault cash provider, there is a limited amount of risk because the ATM money will typically come in an armored car, which is why many ATM owners leave things in the hands of a cash-management company, even if it costs them a little extra.

Contact National ATM Wholesale today to learn more about our vault cash management services.

When you decide to buy an ATM machine to bring your business an extra source of revenue, the most important decision you can make is choosing an ATM provider. Ideally, you’ll want an ATM provider that will take care of as many details as possible so that owning an ATM feels like a turnkey operation. Here are a few things you should be looking for in an ATM provider.

High-Quality Equipment and Service

The most important thing when owning an ATM is the machine itself. You’ll want an ATM provider that can offer you state-of-the-art equipment and give you a machine that matches the needs of your business. You’ll also want a machine that is in good condition and won’t break down.

It’s also important to have a provider that can handle refilling the machine, supply receipt paper, and fix the machine any time there’s a glitch. Not all providers will perform all of these services at a reasonable cost, so make sure you choose a provider that’s committed to turnkey service and can give you the equipment and service you need to profit from your ATM.

Track Record of Success

ATM service is one of those industries in which experience is of great importance. Your best bet is to find a provider who a long track record and a good reputation. You may be tempted to sign up with a newer company, but in the long run, an established ATM provider will be more likely to provide turnkey service that helps make everything run smoothly.

Flexibility

Not every ATM owner needs the same types of services, and so you need a provider that gives you a certain degree of freedom when it comes to the options available to you. For instance, if you think you can make more money by filling the machine yourself or branding your ATM in the model of your business, you should have the freedom to do just that. The best ATM provider will be able to customize their services to suit your needs and wishes.

24/7 Customer Support

Before choosing an ATM provider, you have to know that they will be able to help you anytime a problem comes up. You need to know that you can call your provider 24/7 to troubleshoot any technical problem that may arise. You should also make sure that you can get a qualified technician to your business whenever you need. If your ATM provider doesn’t guarantee customer service and support 24/7, it’s not a true turnkey service.

Contact National ATM Wholesale today to learn more about our turnkey ATM services.

When organizing a music or food festival, one of the top items on your to-do list should be securing ATMs for guests to use during the event. ATMs have become an absolute necessity at such events, proving useful for organizers, vendors, and guests. Here’s a look at 10 ways your next music and food festival can benefit from having ATMs onsite.

Revenue from Surcharges

Scattering ATMs throughout the festival grounds is a good way to add an extra source of revenue. Guests will pay surcharges every time they use an ATM at the festival, just as they would at any other ATM location. It may not be the festival’s top source of revenue, but it’ll be noticeable.

Sell More Food and Souvenirs

Data shows that more than 75 percent of the money taken out of ATMs at festivals is spent at the festival. By giving guests more access to cash, you increase the chances of them spending more money than expected on food, drinks, and various forms of souvenirs, which will increase the revenue the festival brings in.

Guest Satisfaction

Most of the people attending your festival will be glad that ATMs present. No, it’s not their main reason for attending, but it’s a convenient perk that will keep them happy while at the event. If there are no ATMs present, most guests will notice and may be inconvenienced because of it. Remember, most guests will be expecting and need an ATM.

Attract More Vendors

Having ATMs present can help to attract more vendors who will buy space at the festival. A lot of the vendors at festivals will only operate with cash and may be hesitant to set up shop if guests don’t have access to cash during the festival. Making it clear that you’ll have plenty of ATMs at the festival will push more vendors toward participating.

Less Theft

Having ATMs available can play a role in reducing petty theft at festivals. Without ATMs, guests will be more likely to carry around large amounts of money, leaving them vulnerable to losing it. But if they have access to ATMs, they can take out however much cash they need and then turn around and spend it right away before they have a chance to worry about losing it.

Guests Will Stay Longer

For certain events, once a person runs out of money, there’ll be no reason to stay. If there are ATMs around, this will never happen. With ATMs onsite, guests will stay longer, spend more money, and be able to enjoy themselves, which is the whole point of the festival, right?

Revenue from Sponsorship

This is another way to make a little extra money from ATMs. It’s easy to have a company or vendor sponsor your festival’s ATMs by putting a few stickers on the machine or placing the ATM inside a tent that bears the company’s name. It’s not the biggest money maker, but it’ll bring in enough extra revenue to be worthwhile.

Shorter Lines and Faster Transactions

Cash transactions at food and souvenir booths tend to happen a lot quicker than those that happen electronically. People don’t want to spend their time at festivals standing in long lines, which means faster transactions will help keep your guests happy. It also means you need to have plenty of ATMs onsite so people aren’t waiting long to get their cash.

Vendors Avoid Electronic Transaction Fees

Aside from taking longer, electronic transactions often come with fees that vendors may not want to pay. Even if some vendors accept credit cards and other electronic methods of payment, having ATMs at the festival will promote the use of cash for all purchases. More cash transactions will mean fewer fees paid by your vendors and more revenue from surcharges every time someone uses an ATM, making it a win-win for both the festival and its vendors.

Keep Vendors Happy

Between encouraging more purchases and alleviating the fees that come with electronic transactions, having ATMs at your festival will go a long way toward keeping your vendors happy. More importantly, it will keep your vendors coming back the next time. If your vendors do well and have a hassle-free day, they’ll be eager to sign up for the next festival, which can make planning the next festival a lot easier.

Contact National ATM Wholesale today to learn more about installing an ATM at your music festival.

For any business owner searching for an extra source of income, owning an ATM is an option worth exploring. Most of the costs associated with an ATM are upfront, and once the ATM is purchased, it can bring in a steady stream of income. At a certain point, the machine will pay for itself, and once you cover the cost of buying the ATM, almost all the money it brings in is pure profit. On top of that, having an ATM can provide your customers with an added convenience and may even lead to increased business.

Of course, it’s not always that simple. Owning an ATM is about more than collecting service fees from the people who use it. It’s a piece of equipment that requires upkeep and attention just like any other piece of equipment you need to make your business run. While it can bring in added income for you, there is some work required when owning an ATM. Here are a few of the most common issues that require your attention when managing an ATM.

Installation

This is obviously the first step in owning and maintaining an ATM. While it’s possible for someone without a technical background to install an ATM, it’s usually suggested that you leave it to a professional technician. Once you pick out a location for your ATM, the technician can usually handle the rest. However, you should keep in mind that an ATM needs to be near a power outlet and have a dedicated phone line in order to make transactions. It may also be necessary to have the machine bolted down upon installation so that it won’t be stolen when no one’s watching.

Routine Maintenance

Just like any other piece of equipment, it’s wise to keep up with routine maintenance on your ATM to avoid problems that will prevent your customers from using it and prevent you from making money on it. A professional technician can go through the basics to help prevent a problem before it happens. It’s also possible to do your own fault testing, although this can be time-consuming and may force you to become familiar with some technical jargon. You will also want to clean the exterior of the machine, as well as the cash dispenser, so the machine looks good for your customers.

Troubleshooting

Even if you keep up with regular maintenance on your ATM, errors are still possible. If you have a newer machine, serious problems will be rare, but there will be occasions in which you’ll have to do your own troubleshooting. For minor issues like paper jams or running low on receipt paper, you can usually handle it yourself with a little help from the instructions manual. Other issues can also be easily fixed on your own using error codes. Unless your ATM is old and run down, it’ll be rare that you have to call a technician to fix it. However, for minor problems, you’ll likely have to do your own troubleshooting, and you’ll want to get it done as soon as possible so you don’t lose money.

Refills

If you own an ATM, you might be responsible for refilling the machine when it’s running low on cash. How frequently you do this will depend on how much money you put into it and how much use the machine gets. You should also keep in mind that you will usually be putting up your own money into the ATM, which will require you having thousands of dollars handy every time you refill the machine.

Security

One final aspect of owning an ATM that can’t be overlooked is security. You are responsible for making sure that your ATM is safe for people to use. This is particularly important if your ATM is available during non-business hours when security is more of an issue. You have to make sure no one can hack into the system or dismantle the machine. You may also consider installing a security system nearby to track activity around your ATM so that you can ensure the safety of the customers who use it.

Contact National ATM Wholesale today to learn about our turnkey ATM services, which make owning and managing an ATM a breeze.

Owning an ATM is like any other aspect of business in that most of the time, location is everything. If you want your business to do well or sell a specific item in your store, finding the right location is essential. The same goes for your ATM. If you want people to use it, you need to find the right location. Here are some of the best locations for putting an ATM.

Restaurant/Bar

Most people will pay for expensive meals at restaurants with a credit card so they don’t have much of a need for cash. However, for more casual places where the check is likely to be a little lower, ATMs will get some use. Also, certain bars are likely to have a lot of cash transactions, and so when someone wants to stay a little longer than expected, they need to visit an ATM to get some fast cash. Plus, these locations get plenty of foot traffic even if people don’t need the cash to pay for their meal.

Sports/Concert Arena

Whether they’re buying food or souvenirs, people are going to spend a lot of money when visiting any kind of entertainment venue. Aside from all the foot traffic, prices at an arena are often way higher than people expect, forcing them to visit the ATM to get more cash. Placing an ATM in an arena also gives you a little more flexibility when it comes to raising the surcharge to use it, which can help you make a little more money.

Gas Station/Convenience Store

These two businesses are cut from the same cloth and are filled with people paying with cash, making it perfect for an ATM, if not two. Some gas stations are starting to offer cheaper prices for those paying in cash, which makes an ATM necessary. Also, customers at both places may find themselves spending more than they expected on impulse items, forcing them to make an unplanned trip to a nearby ATM.

Hotel

Few businesses get more foot traffic than hotels, and this fact alone makes it the perfect spot for an ATM. People who are far from home won’t be able to visit their bank to pick up extra cash, so they’ll visit the nearest ATM, which is likely in the hotel lobby. In fact, larger hotels may even have an ATM on every floor, so there’s definitely a high need for ATMs inside hotels.

Contact National ATM Wholesale today to learn more about installing an ATM within your place of business.