| Think
of an ATM as a cash vending machine. An ATM Vending
Machine is really just a vending machine that dispenses
cash instead of snacks or soda.
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 $1.00
or $2.00 for a soda or a snack (that cost you
something to begin with), an ATM machine charges
$1.50 or more for the convenient access to the cash
in your bank.
Now, the banks have all
sorts of agreements with ATM networks to offer access
to your cash (otherwise we would not use banks as
much and ATM cards). Your ATM will now just dispense
$20 bills to users that pay for access. Then the
funds from that users bank will deposited back into
the ATM cash providers account daily.
All you
do is keep in loaded with $20's instead of snacks. 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 (if
you're a retailer with cash) or if your an ATM Vending
Machine Business you get $20's from your bank and
put them in the ATM.
Customers withdraw those
$20’s and the ATM networks deposit that money back
into your bank account the next business day. No
soda or snacks to buy to refill the machine. And,
with the ATM our online ATM management system shows
you daily usage and balances so you don't have to
visit the ATM unless youneed to.
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A deluxe snack and soda machine
with a bill acceptor can actually
cost more than a typical retail
ATM Machine. The main 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 the business where the
ATM is located. You rarely make
$2.00 or more profit 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 + |
To ensure your ATM will do well there are a few
tips you should keep in mind.
- Place the ATM in
a well lit location.
- Try and pick an area where there is a lot of
traffic (if it's your store don't put it back
by the restrooms).
- Keep in mind - location,
location, location, even within the Location
where you decide the ATM will be (think about
the most foot traffic).
- Keep the ATM away from solid glass windows
for security purposes.
- Have a professional install the ATM to secure
it to your floor.
- Have a Dedicated phone line and Power Outlet
within three (3) feet of where the ATM will be
located.
- Have your cash ready to load before you open
the store of if your an ATM business have cash
ready before you visit the site. Don't count
your cash in public view.
- If possible, take the cash cassette into a
different room to load.
Obviously, ROI all depends on the usage and traffic.
Our ATM
Profit Calculator can provide some estimates.
Keep in mind that an ATM located in a nightclub,
amusement park, or casino will 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.
If you are considering an ATM or getting into the ATM
Vending Business, feel free to give us a call and we'll
try and save you from the school of hard knocks.
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