Some of the latest trends in business include the introduction of Automated Teller Machines (ATMs). This is a new way of doing business with fewer costs. Automated Teller Machines can help you earn a passive income and increase your business sales.
Some of the businesses where Automated Teller Machines (ATMs) can be used include gas stations, restaurants, donut stores, thrift stores, parking lots, and nail salons. If you have a business and you want to reduce the costs of hiring a cashier, consider installing an ATM. With that in mind, are ATM machines a good investment? Let’s look at it.
How to Make Money with an ATM Machine?
- ATM surcharge fees. When a customer uses an ATM machine, they are charged a surcharge fee. Customers are charged a small fee of between $2 and $3 to use an ATM machine. This is one of the biggest revenue generators in an ATM machine.
- Placing adverts on top of ATM machines. You might have seen screens with adverts on top of ATMs when you visit an ATM machine. Brands pay business owners to place adverts on ATM machines. This is also a great way to increase revenue from an ATM machine.
How Much Does an ATM Machine Cost?
On average, an ATM machine costs between $2,000 and $5,000. ATM machines' prices vary depending on several factors like dispenser, size, speed, and type. A dispenser is a machine that is located inside an ATM and is used to hold and dispense money. Dispensers can hold varying amounts of money and different denominations.
How Profitable is an ATM Machine Investment?
Buying ATM machines as an investment is a profitable business. However, ATM machine business profits depend on how busy your ATM is. For example, assuming that your ATM machine makes around $150 transactions in a month and you charge a surcharge fee of $2.50 per transaction, then it means you will be making $375 per month.
If you are in a busier locality where you make about 300 transactions in a month, you will be earning $750. As such, strive to locate your ATM machine in a busy location.
Are ATMs a Good Investment?
Yes, it is. When you install an ATM in your business, customers will be charged a small fee when they use the ATM. This is an excellent source of passive income for your business. You don’t need to hire a cashier since you can be loading money into the ATM machine by yourself and wait for it to make money. You can also have screens placed on top of ATMs and brands can pay you when they place adverts on those screens.
Benefits of an ATM Machine
Why do you need an ATM machine in your business? Let’s look at some of the benefits of an ATM machine.
- Security. ATM machines offer security to customers’ money. Instead of carrying cash around, customers just need to carry their cards and can make withdrawals when need be.
- Convenience. ATMs provide your customers with easy access to cash while inside your business. This is a great way to improve customer satisfaction.
- Increased revenue. You can increase your business revenues by installing an ATM in your business. You will be earning ATM surcharge fees when customers use the ATM.
Summary of Whether ATMs are a Good Investment
If you have a business and want to increase your revenue, you can consider installing an ATM. With an ATM, you can increase your customers’ convenience since they can withdraw money from the ATM machine and pay for goods and services. To conclude, ATMs are a good investment for those looking to increase their business revenues.