Four Steps To Success
1 Find a good location
My first location was a Texaco Service Station on a very busy street. I choose it because the owner was the first person to say “YES” to my question, “Would you like an ATM in your business at no cost to you?” I think he was about the tenth or twelfth business owner I had asked and it turned out to be a good location. Yes, I have placed ATMs in bad locations and they had to be moved. It takes about one hour to install an ATM (I’ve seen it done faster by a seasoned installer) and it takes about 10 to 15 minutes to remove one from a location. We have collateral hand-outs to give to business owners and sometimes it takes few days to get a positive answer, but once the ATM is programmed and installed it just keeps sending money to your bank account.
2 Purchase a reliable ATM
You can buy an excellent ATM that will serve you well for ten to fifteen year for about $2,500.00. There are about ten or twelve manufactures of ATMs in the U.S. and there are several brands made off-shore. There are some better than others. You do not have to buy through my company, however, I believe I can offer you some great guidance.
3 Program and install the ATM
This is not rocket science, however, it does have to be done right and the first time may be a bit frustrating. Every ATM has it’s own unique program for operations and security reasons.
4 Fund the ATM
This is always the questions, “How much money should the ATM need?” Not as much as you may think.
The ATM should be set for a maximum withdrawal of $200.00 and the average withdrawal will be $60.00, so if you have 200 withdrawals per month that would only be $12,000.00 per month. If you service the ATM each week (recommended), that is only $3,000.00. All monies taken out of the ATM each day is back in your bank account the next morning.