Are ATM Machines Still Profitable In 2020?
Are you thinking about investing in an ATM but you’re not sure how profitable they are in 2020? If so, you’ve come to the right place!
In this article, we will break down the real truth behind how profitable ATM’s are in 2020 so that you will know if it is indeed the right investment for you.
ATM Machine Profitability In 2020
2020 has been a tough year for almost everyone, but the good news is ATM’s have been more profitable than ever before due to the Pandemic. As most banks have modified their in-store hours, people have turned to ATM’s for cash as well as deposits, stamps, and other services that their ATM’s might offer.
Yes, many people have indeed slowed down on their use of cash during the Pandemic but the good thing about Coronavirus is that it’s encouraged many ATM owners to upgrade their ATM’s to offer frictionless options so that consumers don’t in most cases have to touch the ATM.
ATM Profitability - Is All About The Location
Before investing in an ATM, the important thing to know is that the key to success with that placement is all about the location.
Thanks to a recent statistic from mobilemoney.net, we know that 20% of consumers who withdraw money from an ATM will use that cash immediately so when considering where you’re going to place an ATM, it’s ideal to choose a location that’s in a retail store or venue where cash can be spent.
Now let’s talk about profitability. Keep in mind that one ATM isn’t going to get you rich because on average you’re going to earn about $150 per month, or about $2,000 per year.
Yes, that may seem low but, if you own the location where your ATM is placed, you can avoid having to pay the owner of the location a percentage of your profit. There is also a wide variety of other income streams that can come from just one ATM, including on-screen advertising, and there are many more products that can be sold from ATMs as well.
Things To Consider Before Investing In An ATM Machine
Before choosing to invest in an ATM make sure you choose your location carefully because ATM machines can be susceptible to attacks and robberies.
You should also consider the costs involved with maintaining the ATM, monitoring, and upgrades because your goal should be to keep your ATM running and profitable for years to come.