{"id":18500,"date":"2022-09-10T21:46:17","date_gmt":"2022-09-10T19:46:17","guid":{"rendered":"https:\/\/blinkx.com\/?p=7978"},"modified":"2023-08-24T12:27:20","modified_gmt":"2023-08-24T11:27:20","slug":"how-to-start-an-atm-business","status":"publish","type":"post","link":"https:\/\/businessfinancenews.com\/atm\/how-to-start-an-atm-business\/","title":{"rendered":"How To Start An ATM Business"},"content":{"rendered":"\n
While we have a complete blueprint for the ATM business<\/a>, we need to go into more detail about how to start this ATM business, almost like a checklist approach. <\/p>\n\n\n\n Furthermore, we have a complete cost analysis of the ATM business<\/a> updated after the inflation period that settled in 2023 along with a list of the pros and cons of the automated teller machine business<\/a>.<\/p>\n\n\n You probably know that most of those ATMs are owned by ordinary folks. <\/p>\n If you\u2019d like to be one of them, I\u2019ll teach you how to start an ATM business these days. <\/p>\n I\u2019m not referring to ATMs that are visibly linked with a large bank or financial institution when I say ATM business.<\/p>\n I\u2019m referring to ATMs found at convenience stores or petrol stations that aren\u2019t plastered with giant bank logos.<\/p>\n These \u201cindependent\u201d ATMs make up a significant portion of the ATM business. <\/p>\n Independent ATMs account for 278,394 of the 470,135 ATMs in the United States.<\/p>\n This equates to 59.2% of the market share.<\/p>\n Evidently, there is a large market for independent ATM operators, making it a profitable business venture.<\/p>\n So, what\u2019s the best way to get started in this industry?<\/p>\n It\u2019s actually relatively simple, and I\u2019ll help you through the process.<\/p>\n An ATM owner\u2019s average fee is roughly $3.<\/p>\n This fee is typically split between the ATM owner and the owner of the establishment where the ATM is located.<\/p>\n The average transaction split paid to location owners is between $0.50 and $1.00.<\/p>\n ATM owners can also profit from interchange fees, ranging from $0.10 to $0.20 per transaction on average.<\/p>\n Related Reading: Unique Business Ideas \u2013 Get To Know All Ideas Here.<\/em><\/p>\n Although a business degree is not required to start an ATM firm, specific skills and experiences would be beneficial.<\/p>\n An ATM owner with some basic troubleshooting and repair abilities can keep the devices running.<\/p>\n An owner who can perform specific maintenance and repairs themselves will save money by hiring a professional regularly. <\/p>\n An ATM owner who is familiar with a particular area can easily spot good locations that are likely to have a high amount of ATM usage.<\/p>\n Examples of suitable locations are tourist areas, shopping centers, and gas stations. These spots get high foot traffic.<\/p>\n Negotiation experience can aid a business owner in reaching deals with venue owners.<\/p>\n A business owner with technological expertise will be able to better understand, use, and market their ATMs to venue owners.<\/p>\n Establishing partnerships with venue owners is a crucial aspect of operating an ATM business.<\/p>\n It will be advantageous if you have strong interpersonal skills and strong networking abilities.<\/p>\n Working in or receiving training in the security industry is advantageous.<\/p>\n Knowing and adhering to security best practices reduces the likelihood of an ATM owner being robbed while maintaining the machines.<\/p>\n Meticulous attention to detail is essential when dealing with enormous sums of money like those needed to replenish ATMs.<\/p>\n<\/span>How Can You Make Money As An ATM Business Owner? <\/h2>\n
<\/span>How To Start An ATM Business \u2013 Necessary Credentials<\/h2>\n
Repair and Troubleshooting Skills <\/h3>\n
A Knowledge of Your Locale <\/h3>\n
Solid Negotiation Abilities <\/h3>\n
Technological Background <\/h3>\n
Ease With Networking <\/h3>\n
Expertise in Security <\/h3>\n
Meticulous About Details <\/h3>\n