If you notice that the ATM in your store is very profitable, it is likely you can identify other stores and locations that can be as profitable. ATM Companies have programs where you provide the location and you get a portion of the profits that the machine you place gets.
The general 3 L rule that ATM businesses follow is: Location, location, location. Having a good location sets the ATM up to generate huge profits and becomes a win-win for everyone.
You can either buy ATMs wholesale and then look for locations, but you can also look for locations and then start ordering as you go. Both have their benefits and cons, but ordering as you go is the obvious way to minimize risks.
If you choose a franchise, there are rules franchises have. Each parent company sets rules and the franchiser then interprets it, and it should be fine as long as they don’t violate any rules governing the use of ATM machines. Some franchises even offer franchise owners special training for ATMs.
When owning a lot of ATMs, it is best to own a network of reliable ATMs so you do not have to send technicians out every day. Sending them out also eats into potential profit, so make sure you do not get the cheapest, but also a good price so that you do not have to worry about it breaking down all the time.
If your ATM machine isn’t working on a particular day where there is a cash only event nearby, that person will probably head there. You then become known as the location with unreliable ATMs and future transactions will be done at the working ATMs.
Everything does not go according to plan. You need to have plans in place for when machines need maintenance and refills. Having a good system will help you streamline the process and save time while making more money.