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Updated over 1 year ago,
Requesting advice on starting an ATM business!!
I have been doing some research online and there seems to be a lot of potential in the ATM industry. From what I understand so far, you make 100% of the transaction fee from the ATM withdrawals. So the plan would be to approach multiple business owners (whose businesses seem to get a lot of foot traffic) and discuss the benefits of installing one of my ATM's in their business. I would stock/refill (with my own cash), and maintain the ATM's, and the business owner would get a percentage of the fee (an example would be a $2.50 transaction fee and the business owner getting 50 cents per transaction). Not to mention the increased business and reduced credit card charge-back's the business owner would benefit from. ATM's surprisingly average around $2,500 and I plan to stock about $2,500 in each machine. So each ATM would cost around five thousand and I would continue to expand/reinvest the money into the route.
Does anyone have any advice or experience with this type of business?!