Make More Money
Is your ATM profitable? Users might just see an ATM as a convenient way to get quick cash; however, some ATM owners are looking to see how they can make an ATM more profitable. Some store owners don’t put a lot of thought into the process; rather they look at it as a way to attract more customers to the store.
What retailers don’t often realize is that a few simple steps can turn an ATM into an additional money-making vehicle for them making your ATM even more Profitable.
Have you ever walked into a store that has an ATM sign in the window, but can’t find the machine once you’re inside? The investment is no good if the customer can’t easily locate the machine.
Many convenience stores are compact and use every inch of available space to shelve products. This makes it even harder to locate an ATM if it is in the back of the store. I’m sure we’ve all heard the words location, location, location. Well, it doesn’t only apply to real estate. The number one step to take when purchasing an ATM, is to put it in a visible and easily accessible location. The best place is right inside the front doors of the store or near the front of the store at the beginning of a popular aisle, such as the water and soda aisle.
Customers will have to pass by the machine before doing any shopping. If their main purpose wasn’t to come in and get cash, it might trigger them to do so since the machine is so convenient. In a bar, placing the machine in an area that gets the most foot traffic will be most profitable. Most often this is going to be by the entrance of the bar or near the drink ordering station.
Patrons have many uses for a few extra dollars while at the bar–the need for another drink, playing the juke box, playing another game of pool, or paying for parking or a taxi on the way out.
Signage is another simple step to advertise that you have an ATM located in the establishment. The location of the sign is also important; it must be visible from the street or to passers-by on the sidewalk. Many store fronts or bar windows can be cluttered with lottery posters, sale posters, or neon lights, so placing the sign where it is clearly visible will drive in the traffic.
An ATM owner is going to make profits from the convenience fee that is charged; therefore, the more conveniently located it is, the more traffic will be driven to the machine. Some bars or restaurants do not accept credit cards, so in this case the ATM will generate bigger revenues. An owner making a conscience effort with advertising and placement should see a jump in profits; making their money back on the investment much sooner than sometimes anticipated.
There are also many other ways to make your ATM profitable. From on screen advertising, to dispensing coupons and discounts on the receipt, to complete ATM branding by wrapping the ATM with a custom skin from one advertisers. Some of the simple ways to increase profits is to load the ATM with 10’s instead of 20’s in some locations. This lowers the average withdrawal amount and often increases transactions. Should you need more ideas about how to maximize profits from your ATM or your network of ATMs if you operate ATMs as a business, please give ATMDepot.com a call at 888-959-2269 to speak with one of our associates.