An ATM Business Can Save Your Marriage (It’s Not as Crazy as It Sounds)

The title statement may sound outlandish. But, consider these stats about gray divorce (divorce among couples over 50):

  1. Gray divorce has doubled since 1990.
  2. Gray divorce has increased by 700% since 1960.

Those are startling numbers. And, it probably seems unlikely that an ATM business is the solution. But, if you look at why the gray divorce rate has skyrocketed, it becomes clear how an ATM business can help.

Here’s a quick story to illustrate the most common cause of gray divorce:

A young couple meets, dates, and gets married early in life—shortly after college. For the next few decades, they spend most of their time building careers, raising children, and preparing for retirement. There’s a lot to do, and they’re both happy to be doing it together.

Then it comes time to retire. Suddenly, the shared goals are gone. And the man has dedicated the majority of his life working. He spent very little time building relationships or hobbies. Or maybe both of the people in this couple spent very little time pursuing things other than work.

The struggle is that retired people often find themselves with nothing to do. And, this can severely strain marriages. When all the work is done, it’s easy to feel that there’s no need for a team anymore.

But there’s more: having nothing to do is no fun. Retirement is supposed to be enjoyable—at least as enjoyable as a fulfilling career, if not more enjoyable. So, it’s easy to feel unhappy in retirement.

That’s what’s caused this spike in gray divorce: a lack of shared goals and things to do in retirement.

An ATM business solves that problem.

How an ATM business can save your marriage from gray divorce

Being an ATM owner is not a way to get rich quick. When you start an ATM business, you’re playing the long game. And, this long game affords people opportunities to build relationships and develop a routine that can sustain them throughout retirement.

Older Couple having CoffeeBuilding relationships

One of the most important aspects of owning an ATM business is building a successful route. An ATM route is just the common path you take to refill your ATM machines with cash and ensure they’re in good shape.

The benefit of this ATM route for older people is that it provides a place where you show up regularly and get to know people. Socially, it’s like a bar (but far more productive and profitable).

Additionally, each ATM machine will be located in or near a business, and maybe even a bar if that’s something you’d enjoy. And, you have to develop a relationship with that business owner, because your ATM is on their property. And, these business owners may want to be involved, to some small degree, in the operation of that ATM machine (coupons, promotions, lowered credit card fees for them, etc.).

Developing quality relationships with these landlords, business owners, and property owners is key if you want to have an ATM business that’s all about service. And, your ATM business should be all about service. That will make your business successful and will ensure you keep your customers happy so they’ll stay with you for a long, long, time.

But, more than being an important part of your ATM business, these relationships give you people to do things with once you’ve retired. Your ATM business creates a circle of friends that will last a lifetime.

Productive routines

An ATM business also solves the problem of idle time in retirement.

Once you’ve set up your ATM route, you’ll obviously need to run that route regularly to keep your ATM machines up and running. This creates a routine that helps retain a sense of purpose and offers shared goals for you and your partner.

But, the best thing about the routine of an ATM business is that your routine can be as busy or as minimal as you’d like. If you want, you could work nearly full time in your ATM business. Or, it can be as part-time as you like.

And, you’re not just keeping busy. Your ATM business gives you productive work. It’s even better than a hobby, in many ways.

Reaching retirementOlder Retired Couple Enjoying Retirement Early via the ATM Business

Although this focuses most on how an ATM business can protect you from a gray divorce, an ATM business can also help you stay married until retirement.

As we mentioned earlier, an ATM business is not a get rich quick scheme. It’s a long game.

But, running an ATM business can provide reliable income that doesn’t require you to grind it out day after day. And, it’s income that you can earn in addition to your professional income. So, an ATM business can certainly make it easier to retire when you want to.

And, the additional income of an ATM business gives you time to develop relationships outside of work and build a marriage that’s ready for the realities of retirement. It’s also a business that gets you out of the house which is a big plus for decreasing the chance of a grey divorce. Plus, you get to enjoy any neighborhood you wish to pursue, make connections, and have fun at the same time. 

So, your ATM business isn’t just a marriage failsafe for retirement. It’s also something that can sustain your marriage and life until you reach retirement.

And, what about those who are retired or near retirement right now? You can start an ATM business at any time. Yes, the ATM business is a long game. But, it’s a long game that you can start right now, regardless of where you are in your life. Besides, you can start and ATM business with less than $5,000 and the returns on that money will be much better than the bank and much safer than the stock market. You’re investing in yourself and in your retirement. 

If you’re ready to start now, learn more about starting an ATM business.

ATM Business Basics Part II: How to Start Up and Operate an ATM Business

Understanding how to start up and operate an ATM business might be one of the most overlooked parts of owning and operating ATM machines.

Yes, the ATM machines are important. But, most of the time investment actually goes into operating the business. After all, it only takes a few minutes to load cash into an ATM.

There are plenty of resources that explain how ATM owners make money. So, we’re going to focus on the process of starting and running your ATM business.

How to start up and operate an ATM business

Contrary to how it might seem, buying an ATM machine is not the first step. First, you need a place to put it (that isn’t your garage). These are the steps you need to follow:

  1. Identify potential ATM locations. There are plenty of options—gas stations, convenience stores, bars, and so on.
  2. Talk to the business owners and negotiate an agreement to provide an ATM for the business. You will need a contract for this agreement.
  3. Buy the ATM machine.
  4. Install the ATM machine, and secure it properly.
  5. Fill the ATM with cash.
  6. Tell people about your ATM.

Three of these steps actually have very little to do with the ATM machine itself. These three steps are major cornerstones of any business. And, these are the steps that most new business owners struggle with.

So, we’re going to break them down.

Identify ATM locationsGreat ATM Locations

In other businesses, this would be called “lead generation.” And, in many businesses, it’s a tricky process that some people never quite master.

But, in the ATM business, identifying leads can be as simple as visiting nearby businesses, choosing good candidates for an ATM placement, and asking if they have an ATM machine.

If the location already has an ATM machine, that doesn’t mean that you can’t place an ATM there. But, it’s an additional hurdle, since you’ll have to replace the current ATM provider. The business owner may or may not be willing to do that.

Either way, you can generate leads simply by visiting businesses and tracking which ones have ATMs and which ones don’t. Keep notes on locations, and remember locations that may be worth the extra effort to replace an existing ATM.

This list of businesses is essentially your leads database.

Negotiate with business owners

In traditional business terms, this would be the “sales” stage. This is where you actually sell your ATM services to the business owner. And, this can be the most challenging and time-consuming part of the process.

First, you have to convince the business owner to talk to you at all. Business owners are busy. And, people generally don’t like being sold to.

But, even though this is a sales process, it doesn’t have to be salesy.

Approach this as a relationship-building process. It’s important that people trust you and are willing to work with you. Focus on understanding what the business owner needs and helping them solve their problems. The agreement is beneficial to both you and the business owner. Be willing to make the arrangement lucrative for the business owner, and help them understand how it benefits them.

If you struggle with negotiation and sales, it’s wise to develop a script for starting the conversation. It’s impossible to predict how any interaction will play out. But, it’s easier to start the conversation if you at least know what you’re going to say first.

Using a script or some sort of plan also enables you to optimize your negotiation and sales process. If you’ve tried something several times, and it’s not working, try something else. Once you find the thing that works, put it in your plan and stick with it.

You’ll also need a contract for this step. A verbal agreement won’t cut it.

You can get a lawyer to draw up a contract for you. However, this will usually cost about a thousand dollars.

Or, you can use a contract template, which is much more affordable. We offer contract templates as part of our membership at ATMDepot.

You can probably find other templates on the internet. But, if you download a free contract template, make sure that it has all the necessary recitals and protections you need. Your contract is the only thing that protects you in a dispute.

ATM at a Gas Station via StockPromoting your ATM

This last step is otherwise known as “marketing.” You’re going to get some organic transactions simply by having the ATM placed.

But, more transactions are better. And, the more people that know about your ATM, the more transactions you’ll get.

You’ve probably seen the “ATM” signs in the windows at gas stations and convenience stores. Adding one of these signs will raise awareness about your ATM.

But, if there are nearby businesses that don’t have ATM machines, go tell them about the new ATM. That way, when people ask if they have an ATM, these other businesses can direct people to your ATM machine.

As a bonus, it’s a good reason to have a conversation with more business owners who don’t have an ATM of their own. It could lead to installing a new ATM.

The business cycle

These three steps will essentially be your ATM business. Yes, there will be accounting and service calls. But, the vast majority of growing your business will be going through these three steps over and over. If you master these steps, your business will boom.

Get leads.

Negotiate an agreement.

Support and promote your ATM.

The rest is just the manual labor of installing the ATM machines and filling them with cash.

It might seem daunting. But, the first step is the easiest: just go out and visit businesses and find out which ones have no ATM. It’s simple, and you’ll start building your book of leads.

After that, you just need to follow up with your leads. Then, go through the core business steps to start up and operate an ATM business.

Need more help mastering these core business cycle steps? Get contract templates, sales scripts, and tons of other resources for starting and scaling your ATM business from ATMDepot.