When you think of vending machines, you probably do not think of ATMs. Why not? After all, these machines dispense stuff everyone wants, just as the candy, chip, soda pop, and sandwich machines do. Yet, the difference is that these machines to a direct transfer of funds from the user's bank to the machine, and dispense the amount the user has requested, instead of the user putting money in to get a product out. You probably also did not know that you could use an ATM for rent to make a profit, just like other vending machines. Here are three reasons why you should rent ATM machines and operate it as the turnkey business it really is.
ATM machines can be set to collect up to $3.50 per transaction. If one of your ATM machines does sixty transactions on a given day, that is over two hundred dollars a day in ATM fees! As the business owner, you have to repay the rent on these machines to the company that owns them, but most of the remaining fees collected is your profit. If you have twenty machines operating all over town, that portion of the fees that is your profit builds up fast.
You can place an ATM machine just about anywhere. The best places are just inside stores, restaurants, clinics, hospitals, and entertainment locations (e.g., movie theaters, performing art centers, etc.). To place your machines, you only have to get permission from the business owners. Some of these business owners may require a small piece of the profits pie, which you can either accept or refuse depending on the success of that location's ATMs.
Turnkey operations are businesses that can run almost entirely on their own. Consumers use the service or product then leave. ATM machines definitely fall into this category. If you work a day job, and you do not have time to run another business of your own on the side, you could run the ATM turnkey business with rented ATMs. Just find places to set and/or install them, and then let them go.
Every couple of days, swing by your machines to make sure that they still have money in them to dispense, and that they are still working properly. Collect any money that needs to be transferred to banking institutions. Then take your cut of the profits after that. Contact a company, like Maritech ATM Solutions, for more help.