The Ultimate Guide for ATM Machine – Purchases, Leases, Installations, and Maintenance
There are many good reasons to consider adding an ATM machine to your business location. Just one of these machines could serve as an extra stream of earning apart from the products and services you offer to customers. It is important to do a bit of research as it relates to purchasing or leasing these machines. There are various types of these to choose from, so know which is best for your objectives is essential.
You should also familiarize yourself with information about installations and maintenance requirements. Some business owners will focus primarily on the process of owning and operating these machines. Others will want to add them to already existing business locations to expand the amount of business profitability. Let’s take a look at some of the information you as a business owner will need to consider.
Different Machine Types
One of the first things that business owners will want to know is the best ATM type for their location. Much of this is a decision for you to make based upon the number of customers you get on a daily basis. Some experts in this field say that 150+ is a good gage for businesses but the number will vary. Here is a checklist of information about the different machine types:
- White Label – owned and operated by non-bank entities
- Brown Label – maintained and owned by a service provider
- Onsite Machines – bank owned by and located onsite of a banking institution
- Offsite Machines – maybe bank or privately own in a standalone location
Once a business owner decides which type of ATM they want the next steps in getting a quote.
Get a Reliable Quote
No matter where your business is situated in the country, it is possible to get an automated teller machine for it. Getting a dependable quote is essential to this process and helps you to better allocate your resources. It is important to determine if purchasing a machine is the goal or simply finding one to lease. There are companies that serve both of these purposes, providing quotes for you to bargain shop.
What’s the Financial Benefit?
No business owner will consider adding automated teller machines unless there is a real financial benefit. Studies have shown that it is possible to earn at least $11+K per year from one machine. This, factors in transactions of 360 per month with a $2.75 withdrawal fee. A part of this evaluation includes calculating the customers you get currently. It may be possible for you to earn much more annually.
Plan for Installation
Fortunately for business owners, there are companies that specialize in the distribution of ATM products. These are companies that provide services to customers interested in making a purchase or signing a lease agreement. The installation process is paramount to positioning the machine and ensuring that it is functional. You have to learn all the contracts and purchase details to plan for installations.
Acquire Maintenance Assistance
Depending on the company providing your ATM, the installation may be factored into initial costs. Maintenance, however, is typically an additional service that allows business owners to have a hassle-free experience. The technical expertise required to fix problems or make repairs is important to the operation of these machines. A regular maintenance program is critical to the overall longevity.
Consider Franchise Options
Another option for business owners wanting to embark on an ATM opportunity in franchising. Since there are many of these getting a quote can be very helpful. There are benefits associated with this choice because training is typical. It is possible to learn operations, bookkeeping, and maintenance tips from the parent franchise company. Keep in mind that certain franchise rules will apply here.
It doesn’t matter what type of store, shop, or business you are currently running. Your profit motive can be easily increased by bringing in the right type of automated teller machine. This may be a choice based on the amount of traffic that you receive daily. It may also be a beneficial decision because of the location you operate it. Getting the information necessary for quotes to buy or lease is critical to this process.