All About ATM Vending Machine Business
If you are looking to set up a business that earns you money while you do least of the work on your own then setting up an ATM business can be a great idea for you. You can buy an ATM business for sale at a low investment and get constant incoming money over a long period.
What is ATM business?
ATM business is just like any other vending machine business wherein you set up your own ATM vending machine at a location that attracts traffic and then earn money every time someone else makes a transaction using your ATM.
How is money made in ATM business?
ATM vending machine business works on a simple premise that if someone wants to take out money immediately he would rather pay a very low charge to an ATM vendor for using his machine than going to the bank and making a withdrawal. Whenever someone makes a withdrawal using an ATM he is required to pay a surcharge that is what makes money for the machine owner.
How much money can be made?
On an average, an individual who withdraws money using an ATM has to pay $2-$3 on every transaction he makes. There is no limit as to how much you want to charge an individual for using your ATM but some states do have regulations regarding the maximum surcharge limit, so you have to inquire rules that govern your state.
What is the cost of an ATM?
There is a wide variety of ATMs available out there in the market for you to choose from. You can buy as expensive an ATM machine as one costing you $15000 and at the same time you can also get an ATM for as less as $2000. Since the investment is not that high and the return is periodic, you can recover the entire cost of your investment in as less as 6 months’ time.
What to look for in location?
1. Foot traffic: You will need to place your ATM vending machine at a place that attracts good amount of foot traffic. If you can get the location of a street market or any other place of public interest, you are certain to reap dividends of placing your ATM vending machine there.
2. Security: Security is of paramount importance while placing the ATM and hence always choose a location that is very secure and where stealing and destroying your ATM vending machine is out of the question.
ATM vending machine business is a great idea if you want to get regular income from your business without making a huge investment. You can always start with looking for ATM business for sale, and buying one ATM and then expand on the basis of returns. If you want to own a business that does not require you to sit in the office for hours, this is probably for you.