There is no doubt that adding an ATM to your location can be a lucrative idea for almost any brick-and-mortar business, but many business owners wonder whether buying a machine or participating in an ATM Placement program is right for them.
Owning an ATM allows for greater profit margins, but also takes time, energy and a larger upfront investment to get started. An ATM Placement Program allows business owners to benefit from having an ATM, without as much of an investment of their time or funds.
How Much Does ATM Ownership Cost?
Investing in ATM ownership can certainly increase your profits over time, provided you have the liquid cash to purchase the machine. Typically, you can purchase the ATM machine(s) outright for an initial investment of approximately $2000-$5000 per machine. Or, if you would rather, there are also options to lease or finance the machine(s).
On top of the cost to purchase an ATM, you will also need to keep the ATM stocked with cash. You should have enough to keep at least $1,500 in the ATM at all times.
Learn more about starting your own ATM business.
Or, if you don’t want to use your funds to purchase or lease a machine, but still want the benefits of having an ATM in your brick-and-mortar store, an ATM Placement Program may be right for you.
How Much Time Does It Take Set Up an ATM?
Along with an initial monetary investment, owning an ATM can take a considerable amount of time upfront, as there is a learning curve to operating an ATM. After the initial set up, you must also maintain the machine, keep it stocked with cash, and keep up with software updates.
Determine the profit the ATM machine will bring in, and then you can decide if the extra time involved is worth owning the machine; otherwise, an ATM Placement Program would be your best bet.
How Much Responsibility is Involved with an ATM?
An ATM is a machine offering technology – and this means both the machinery itself can malfunction or break, and the technology can misfire. Basic yearly maintenance is required and regular software updates should be scheduled to keep your machine operating in peak condition.
While some business owners do not find this to be too difficult, others would rather not have the added responsibility.
If you would rather focus your efforts on your business, while still enjoying the passive income that comes with having an ATM on your property, an ATM Placement Program may be the right solution for you.
Benefits of Having an Onsite ATM
Whether you decide to purchase an ATM or use an ATM Placement Program, having an ATM on-site is tremendously beneficial for most business owners. On average, 30-40 percent of cash withdrawn from an ATM will stay in your place of business; in fact, retail locations with an ATM that dispenses $20 bills increase store sales by over 8 percent.
If you are interested in an onsite ATM, contact us today for information on our Indian River Merchant Services ATM placement program. Indian River Merchant Services will provide a brand new, state-of-the-art ATM, and install, program and maintain it free of charge to you. We handle the entire cost of the machine, cash services, and all processing so you can enjoy earning monthly revenue without any fees or hassle.