One of the first steps for setting up an ATM business is choosing a location. This can be tricky to do if you are in an area where there is already an abundance of ATM machines in operation. However, if you are able to find a business or location where an ATM machine could be lucrative, you then run into the challenge of convincing the location owner to work with you by reminding them of the benefits of an atm machine. A simple way to do this is to make an ATM business flyer.
There are a few compelling reasons you can use to seal the deal. When negotiating a partnership, be sure to mention all of the benefits of an ATM machine.
Benefits of an ATM machine include:
- Saving money on credit card fees
- Keeping customers in the store that need cash
- Increasing opportunities for cash sales
- Encouraging future business by offering coupons on your ATM screen and/or ATM receipts
If you already have a machine or two in operation, don’t hesitate to discuss testimonials from other businesses you have worked with. This is a great way to settle any doubts the location owner might have about working with you.
Use these 5 points (your testimonials included) to help negotiate your way into a partnership and lock down the perfect location for your next ATM machine. We also recommend creating an ATM business flyer listing these 5 points. You can leave it with the location owners you speak with if they want time to think it over. Or maybe they’ll change their minds if they initially decline.
Point #1: Reduce Credit Card Fees
The first point to make on your ATM business flyer is that an in-store ATM machine reduces credit card fees. This is a major benefit of having an ATM machine in a business. Businesses are charged between 1.3% and 3.5% in credit card processing fees for each transaction made. An ATM offers customers the opportunity to pay with cash rather than card. So the chances of avoiding those processing fees increases.
Credit card processing fees can also be offset by the ATM surcharge. If the location owner gets a share of the ATM surcharge revenue, it can cover the credit card processing fees and the remainder kept as profit!
After installing an ATM, some locations even opt to get rid of credit card processors altogether. This would be a great selling point for small businesses rather than convenience stores where customers expect the option of paying with a card. But a small, local business could save a lot of money on credit card processing fees by encouraging cash-only transactions and offering ATM service.
Point #2: Keep Customers Who Need Cash
An ATM machine draws in customers who need to withdraw cash. This puts businesses with ATMs at an advantage over competing businesses without an ATM.
The main selling point of your ATM machine is convenience. Convenience is another major benefit of an ATM machine. If customers can access their accounts from the places they’re already shopping, your ATM machine will do well. And, the location owner can count on repeat business from these customers.
Be sure to mention on your ATM business flyer that an ATM machine retains customers who need cash. It’s an added convenience that can give your prospective location an edge against their competition.
Point #3: Provide More Cash for Spending
Convenience stores, for one, experience 23% more in sales from ATM users. This means that businesses could expect to see about a 20% increase in sales just by having an ATM machine on the premises. What is the point of withdrawing cash if not to spend it?
Offering customers the convenience of withdrawing cash in-store in turn benefits the store owner by increasing impulse purchases. Customers now have the cash to do so. And passers by who only intend to use the ATM machine are visiting a business they might not have otherwise.
Therefore, providing ATM service to patrons and non-patrons alike gets more people in the door and creates more opportunities for sales. Not to mention just promoting the business itself. Setting up an ATM machine is an easy, no-cost way for location owners to draw in new customers.
Point #4: Offer Valuable Coupons
Another way to promote future business and increase sales is to offer coupons. Coupons can be printed on ATM receipts or shown on the screen of your ATM. They not only incentivize customers to use your ATM machine, but they also create repeat customers for the location owner.
And they don’t have to be used indefinitely. You can offer coupons while your ATM machine is new to create awareness of the added service. Then, once you’ve established a customer base, you can offer coupons only promotionally if you and the location owner would like to.
Coupons give customers a reason to return to that location and a reason to shop there specifically. Using the ATM as an advertising method is also a benefit of an ATM machine. Increased visits equals increased sales and potentially increased ATM transactions.
Point #5: Testimonials
Finally, include testimonials on your ATM business flyer. If you have worked with location owners who have saved and/or made money from one of your ATM machines, get a statement and share it with prospective location owners.
If you are pitching your ATM machine as a stranger, it can help to have some proven success to back you up. Location owners want to hear from people like them about why they should be open to partnering with an ATM owner and how it can benefit them.
If you don’t already have successful machines in other locations, you can borrow testimony. This might be a statement from any business owner who has benefitted from an ATM machine, even if it wasn’t yours.
You can also cite the successes of your ATM provider. Knowing that you work with a company whose name is well-known and that has a proven track record can help ease you into a partnership as well.
Benefits of an ATM Machine for Location Owners
If you want to run your ATM machine out of someone else’s store or business, you will have to convince him or her to share the space with you. The best way to do that is to outline all of the benefits of an ATM machine.
What it really comes down to is extra revenue. Surcharge fees reduce or at least cover credit card fees. ATM machines draw more customers to stores and businesses. And once users are inside, the opportunities for impulse purchases and future business increase.
ATM machines are money-makers, especially for location owners since you, the ATM owner, handle all of the start-up costs. But it can still be daunting for location owners to enter into a partnership with a stranger. That’s why we recommend including testimonials on your ATM business flyer as well.
Convince your prospect that installing an ATM machine is simple, lucrative, and safe. List these 5 key points on your ATM business flyer to leave with prospective location owners and expect to be met with interest.
Then, once you have a location secured, contact ATMDepot.com to order your equipment!