Making Your Money Work For You

« Back to Home

Atms As Turnkey Businesses

Posted on

Ordinarily, you probably would not consider ATM machines a turnkey business opportunity. Most people do not. After all, these machines are generally taken for granted, given that they are everywhere. Yet, the minute an ATM asks you if you agree to pay a service fee to get your money, it dawns on you. ATMs are a turnkey business. Here is how it works.

ATM Rental

You can rent or rent-to-own ATM machines. You can also buy them outright, if you have enough to invest. Once you have the machines, you can program them to deposit the fees that they gather directly into your account. They do this digitally and electronically, which is why you also need to place your machines where there are electrical outlets and phone jack systems.

The Fees and Your Profits

Next, you have to decide how much you will charge every customer to withdraw money from your ATM machines. Some people who do this kind of business charge as much as $5 per transaction. The limit is up to you, but the more you charge, the more you could earn. This is not always true, as you have to find how much customers are willing to pay to get their money versus the amount they are not willing to pay. You want customers to keep coming back to draw money, not avoid your machines in favor of other ATMs with lower fees.

Once you hit that fee amount on the head, then you can expect the fees to start pouring into your account. The amounts are taken directly from customers' transactions and transferred into your banking account. Sometimes it may take a month to collect the fees, and at other times the amounts are automatic. Just to give you an idea of what you could be making from a single ATM machine, consider the following.

You charge $2.50 per customer transaction. Twenty people each day withdraw money from your ATM. That is $50 per day in transaction fees you make, multiplied by thirty days equals $1500 a month, with almost no real work effort! All you have to do is keep the machine stocked with money and maintain it to get that passive income. After you pay ATM rental fees (if applicable), and cash restocking fees, you still come out ahead with a wad of cash. If you have multiple ATMs in operation, you could do just about anything you wanted without really working. If you are interested in the ATM business, meet with a professional such as Maritech ATM Solutions