ATM Business Startup – Learn How Profitable an ATM Is to Run
Have you been thinking about investing in an ATM? If so, you’ve come to the right place!
Automatic Teller Machines (ATMs) continued to be a profitable business to be in but most ATM business owners never really talk about how profitable they are to run. This is why in this article we will break down the profits you can expect from owning an ATM business, ATM fees, and so much more.
It All Depends on Location and Foot Traffic
In the real estate world, you’ve heard the phrase “location, location, location” before, the same is true with ATMs because some ATMs are more profitable than others because of the location where the machine is placed.
When scouting new locations, the owner of the ATM should verify how much foot traffic the location gets daily because depending on the city or town where the machine is placed, it could only get a small amount of foot traffic per day, or a large amount.
Some locations by default will be better for ATM placements than others. Night clubs, bars, restaurants, strip malls, and restaurants will always universally be good locations for ATM’s. Why? The answer is simple, consumers almost always need extra cash at these locations and offering the convenience of an ATM will be an asset for the business.
Automatic Teller Machines are always in demand at convenience stores too because consumers spend up to 25 percent more money in a location where an ATM is located and since most convenience stores can easily get 10 people per day (or more) using the ATM, your profits will add up.
ATM’s Provide A Reliable Source Of “Supplemental” Income
Let’s say that you’ve found a great location to place your ATM, like most ATM owners you’re going to make money from the processing fees which can range from $1 to $8 per transaction although the average fee is about $3 per transaction.
On average, it’s not uncommon for most ATM’s to earn about $150-$250 per month in profit but if an ATM is placed in a location that you own, and you also own the machine as well, you can expect to earn more money every month.
If earning a few hundred dollars per month in income might not seem like a lot of money, remember that the location of the ATM is vital to the performance of the machine.
Since the average cost of a new ATM is now under $2,000, you could easily develop a passive income if you were to purchase 10 machines (or more) and place them in locations around a city that gets excellent foot traffic or over 1,000 cars driving past the ATM daily.
Besides placing multiple ATM’s at a time, you can also make money with an ATM by running digital advertising on the ATM screen. The advertising opportunity alone could bring in hundreds of dollars into your business every month, especially if you sign up local businesses like restaurants or stores in your area.
When you purchase ATM’s remember to register a Google My Business account for your ATM. This will help your ATM to get listed on Google Maps and found by people who are visiting the town where the ATM is located and might not know that your ATM exists.