ATM Machines Business

ATM Machines Attract More Customers to Your Business

7-11 first installed ATM machines in all of their locations nationwide over 30 years ago because they learned (maybe before anyone else) that customers that use their ATMs to withdraw cash end up spending money inside the store.

Where ATM machines and convenience store customers are concerned, the statement seems to ring true.

Not only did 7-11 learn that ATM customers spend money inside the store when they use a cash machine, but they actually spend 25% more on average than non-ATM customers. People are busy, and impatient, so most people get cash while doing other things like shopping or running errands.

It's a fact that most customers expect businesses like gas stations, convenience stores, and bars & nightclubs to have cash machines.

When you attract more customers with conveniences like ATM services, it's much easier to get repeat business from them and have them coming into your business weekly or even several times per week.

For the customers that come into your store just to use the ATM machine and do not end up spending money, you still earn the transaction fee on the machine, which is normally between $2.00 and $3.00.

Automated Teller Machines (ATM) are ubiquitous right? ATMs aren't everywhere but one can be installed at your place of business. You don't take credit cards? Get an ATM installed. You get full price for your product, your customer has access to cash and you make money on that customer twice instead of paying a credit card processing fee or losing the customer completely.

Not enough space? If you don't take credit cards now, start with your bank or talk to other ATM site owners and call other processing companies. Will you have to pay an armored car company to fill up the machine? What happens when the machine breaks down or runs out of cash? What happens if the machine breaks down and gives away money or doesn't give out the money? So you're wondering whether or not its worth buying an on-site ATM machine for your retail store or other business? If your retail locations do not accept alternate payment methods such as checks, credit, and debit cards, an ATM could be an especially valuable way to increase revenue.

If you do accept alternate payment methods, you should remember the fact that installing an ATM will likely reduce usage of your credit card processing systems, potentially cutting down on processing costs and ultimately saving you money.

On-site ATM machines aren't for everybody, and if there are one or more other ATM machines within close proximity to your store, installing another one probably won't do your business much good. If your customers often find themselves short of cash, however, and need a quick and convenient way to refill their wallets, the benefits of installing an ATM could be incalculable.