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Owning an ATM?
05-22-2013, 07:40 PM
I was wondering if anyone on here has any info or experience on owning one or more ATM machines. It seems like a decent way to make some side cash if you can find a high traffic spot. Even something like 10-15 transactions a day at $2-3 a pop would add up especially if you could get multiple machines going. Considering you need only minimal time to restock the machine with currency you could also easily keep your day job or concentrate on other things. I have read that a lot of businesses will agree to let you put a machine in them free or for a small fee since it's usually a win win with the people using the ATM spending the funds in that business. I have looked all over online and am finding new machines for between $2-2.5k, pretty low capital and can be paid off in the first few months depending on traffic.
Any input or ideas would be awesome.
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Owning an ATM?
05-22-2013, 08:03 PM
This thread has a ton of great info. It is actually my favourite thread on the forum:
http://www.rooshvforum.network/thread-19636.html
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Owning an ATM?
05-23-2013, 06:58 AM
How would you go about approaching the business owner? Who would you actually approach, in fact - the business owner or the land owner? I guess it may be easier to figure out who to approach if its a mall, but then they may have contracts with banks or ATM agencies already.
This is very interesting to me, since Europe is very much a Cash is King place. I think there are opportunities to place ATMs in a lot more locations than there currently are.
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Owning an ATM?
05-23-2013, 10:41 AM
Aren't security measures for transporting money and preventing card fraud or theft of the ATM costly? Wouldn't you need a huge volume of transactions to cover those?
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Owning an ATM?
05-25-2013, 10:28 AM
ATMs also tend to break down.
If the cash Dispenser unit is jammed then it is ok but if one of the belts is misaligned, then you will need to get professional ATM technician to service your ATM and this could add to your ATM being down and added costs. When the ATM is down, unless you have a NOC center, there will be no way to tell until the cash replenisher arrives.
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Owning an ATM?
05-25-2013, 10:39 AM
Quote: (05-23-2013 10:41 AM)Handsome Creepy Eel Wrote:
Aren't security measures for transporting money and preventing card fraud or theft of the ATM costly? Wouldn't you need a huge volume of transactions to cover those?
I believe the money is bonded. The machine is insured.
Fraud comes in part by way of skimmers who makes digital copies of the card, the liability in this comes to the bank but I'm not 100% sure.
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Owning an ATM?
05-25-2013, 10:41 AM
Quote: (05-23-2013 06:58 AM)augen sehen Wrote:
How would you go about approaching the business owner? Who would you actually approach, in fact - the business owner or the land owner? I guess it may be easier to figure out who to approach if its a mall, but then they may have contracts with banks or ATM agencies already.
This is very interesting to me, since Europe is very much a Cash is King place. I think there are opportunities to place ATMs in a lot more locations than there currently are.
I used to work in industry. If I am not mistaken, Europe already has the US beat in the electronic "tap" card market -- where the ATMs have the tap card instead of the physical card which deters skimmers. Replacing these machines to get international compliance will be a b*tch but there will be lucrative niches there.
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Owning an ATM?
05-25-2013, 10:50 AM
Location is king, especially in ATM. People get an affinity to where they get their cash. But this is not your model, your model should focus on the convenience aspect.
The most valuable ones here are transportation centers, but that is true for everyone. There are also opportunities in colleges, ballparks, parking lots, bars (this should be ur target), cash checkers, health centers, city assistance centers, and random kiosks that popout of nowhere, you can have them placed in tourist attraction.... pretty much anywhere. But I suggest getting a low key place with a small business feel to it bc contracts are big business and nice locations will be bank owned and maintained.
If you get big enough, you can start to partner up with other retail stores. Like cardtronics (?) has a deal with a grocery chain and they manage the ATMs for all of them.
*should have put all this in one post