How to Start Your Own ATM Machine Business

1. How to Start Your Own ATM Machine Business

2. ATM machines are generally profitable in public places, especially large cities, because ATM customers are willing to pay the machine an extra few dollars to gain access to cash. If you are considering starting your own ATM machine business to create a virtually passive source of income over the long term, you might want to purchase used ATM machines from a site like ATM Money Machine. Before you begin your business, you should consider the following steps to starting an ATM machine company:

3. Decide Whether to Start Your Own Company or Join a Franchise First, you need to determine whether you want to join an ATM franchise or begin your own ATM business, according to SmallBusiness.Chron.com. If you join a franchise, you will probably receive a name brand and machines, as well as a solid business plan. However, joining a franchise is generally more expensive than simply buying your own ATMs, especially if you buy used machines, so it will take you longer to earn a profit. Buy The Necessary Equipment After you have determined your business plan, you should buy the equipment or machines that you need for your ATM business. You can either buy a single ATM and gradually expand your business or you can buy several machines right away. A single ATM generally costs between $3,000 and $10,000, sometimes less if you buy a used machine. You will probably also need a truck to service and move around the ATMs.

4. Set Up The Legal Aspects of Your Business You can now register your business under a business name and buy a business license from your local government. You should also consider setting up a business entity, like a limited liability clerk, to avoid personal liability by filing articles of organization and paying appropriate filing fees with your state. Find ATM Machine Locations Find appropriate public locations to place your ATM machines. You will want to find public places that receive a lot of pedestrian traffic on a daily basis. About 3 to 5 percent of those who pass by your ATM machines will use them. Using those projections and transaction fees between $2 and $4, you can calculate about how much money you will generate on a monthly and annual basis at each ATM location. Speak with various business owners and land on an agreement for placing your ATM on their property. You will probably need to pay rent or a commission to the business owner.

5. Set Up ATM Machines Place your ATMs at the locations that you have secured from business owners and set them up. Make sure that your machines have access to a phone line or Internet and set up a computer to check your ATMs on a regular basis. You can check your machines’ status from this computer and see when you need to refill them with money. According to ATM Depot, you can estimate that the number of daily patrons that the establishment in which you set up your ATM machine receives will use your ATM on a monthly basis, give or take ten percent.

6. Thank You Office Address :2511 Fire Rd., Egg Harbor Township, NJ 08234 E-Mail ID : atmprograms@gmail.com Phone No : +1 609-641-7300 Website : atmmoneymachine.com