Think of an ATM as a cash vending machine. It sits
by the door, waiting to be used just like any other
vending machine. But instead of dispensing soda or
snacks, it dispenses $20 bills. Instead of charging
$0.50 or $1.00 for sodas and snacks (that cost you
something to begin with), an ATM machine charges $1.50
or more per transaction and the $20 that it dispenses
goes back into your bank account. What happens when
a vending machine gets low on product? You refill
it. If your vending machine dispenses sodas and snacks,
have to buy more to fill up the machine. With an ATM,
the same money you put in gets recycled. You take
a few $20 bills out of your cash register or bank
account to put in the ATM. Customers withdraw those
$20’s and the ATM networks deposit that money back
into your bank account in 24-48 hours. No soda or
snacks to buy to refill the machine.
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A deluxe snack and soda machine with
a bill acceptor costs about the
same price as a small
ATM Machine. The difference between
an ATM and a snack machine is
that the ATM can make more than
triple the income and has a lot
less overhead. The product it dispenses
is money, and a portion of it is
spent in your business where the
ATM is located. You certainly don’t
make $1.65 on a can of soda. And
with an ATM the $20 bills that
are spent in your store are put
back in the ATM the next day to
be dispensed again. Your only inventory
item is a few dozen twenty-dollar
bills. |
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$2,500 + |
An ATM will only do really well if it is placed in a well lit location where there
is a lot of traffic and it is needed. The key to most successful things is location,
location, location, and with as many potential customers as possible. There should
to be a reason your customers would need to have cash, or the ATM should be located
for convenience.
ATMs located in nightclubs, amusement parks, and casinos typically have high transaction
counts because customers frequently run out of cash and do not want to leave to go
to an ATM. An ATM located in the lobby of large apartment or commercial building with
lots of tenants or employees typically does well because of convenience. People become
creatures of habit and like to combine “trips”. If you provide them with a way to
get cash at work, or on there way out of the house, there is no need to stop somewhere
to get cash. ATMs in convenience stores and fast food restaurants do well because
they are destination establishments. People go there for something anyway and the
ATM saves them a trip to the bank. |