Are you thinking about buying an ATM? It’s a smart idea if you want to start a small business or put one in your existing business. Here are some simple steps to help you make a wise decision:
- Research First: Start by learning about ATMs. What do they do? How do they work? Knowing this will help you make better, more informed choices. We have several retail ATMs for purchase at: https://bpsands.com/product-category/atm-machines/atms-for-retail-businesses/
- Budget Wisely: Decide how much money you can spend. ATMs can cost a few thousand dollars, so plan carefully. We typically recommend new ATMs, especially to new buyers. Unless you know what your getting into- stay away from used machines.
- Choose a Good Spot: Where will you put your ATM? Pick a safe and busy location, like a store or gas station. If it is going in your own store – put it in a visible spot – so cardholders know its there immediately when they walk inside.
- Find a Reliable ATM Provider: Look for a company that sells ATMs and offers good customer service such as www.bpsands.com. They will help you set up and maintain your ATM and process your transactions for you.
- Understand Fees: ATMs can charge fees for transactions. You’ll make money from these fees. Some owners are just looking for alternatives to credit cards- so consider not having a fee.
- Legal Stuff: Check local laws and regulations. You might need a permit or license to own an ATM. Nassau County, Westchester County and the state of Massachusetts require registrations.
- Maintenance: ATMs need regular care. Make sure you can fix small problems or hire someone to do it for you. We can help you with service.
- Security Matters: Keep your ATM safe. Always bolt your ATMs to the ground!
- Stock with Cash: Make sure your ATM always has enough money. You’ll need to refill it regularly.
- Promote Your ATM: Let people know you have an ATM. Use signs or ads to attract customers.
Buying an ATM can be a good way to make money, but it’s essential to do your homework. With the right location, proper maintenance, and good customer service, your ATM business can be a success!
In our 25+ years of history we have helped thousands of individuals start and operate successful ATM companies.
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Peter Wilkenshoff
Peter Wilkenshoff is the President of Best Products Sales and Service Inc./ BestATMstore.com. With more than 20 years in the payments industry, he has made a career out of helping businesses get paid in the simplest and smartest ways possible. Cash, cards, mobile wallets or whatever futuristic payment gadget someone invents next week, he is here for it. He loves taking the stress out of money movement and turning complex processes into something anyone can understand. When he is not working he is usually fishing, building something around the house, out on a boat, surfing or planning the next family Disneyworld trip which sounds like a strange mix until you meet him and suddenly it all adds up.
Follow Peter on LinkedIn: https://www.linkedin.com/in/peter-wilkenshoff/
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