Buying an Atm

Why should you offer the convenience of in-store banking to your customers? For the simple reason that an Automatic Teller Machine will also provide you with more convenience as a store or business owner. By buying an ATM, you can increase your profits with little effort, attract more customers, keep regulars coming back, and even cut down on the time you spend bookkeeping.

ATMs are guaranteed to make you money via surcharges. ATMs have a magnetic pull, bringing in new customers who would normally waltz pass your store at any other time. Think of an ATM as free advertising.

It will increase footfalls and increase new business for your store. No bounced checks, fees, or further action is required if more patrons are using cash for their purchases. Cash machines are also available in different sizes, so they can fit into any store's layout and size. You could even get a machine that prints out coupons for products available in your store and entices customers to put the cash they just withdrew back into your business. There's no reason not to invest in a cash machine for your store Savvy business owners know that buying a cash machine for their store is a great way to boost sales and profits.

With ATM cash machines currently costing anywhere from $3,000 to $30,000, there is no doubt that buying one for your business is costly. If you arrange things right, however, buying an ATM can actually be a very sound investment.

Provided that you primarily manage the machine yourself, ongoing maintenance costs shouldn't be too high. Once you have paid all these little fees, however, it is possible to make money on your ATM by collecting a percentage of the surcharge. The average charge for an ATM transaction is $1.60, and as the owner of the machine, all or a portion of this money will go to you.

As a professional franchise advisor I am constantly amazed at the client's perception (or lack thereof) of how they view the financial realities when looking at franchises to buy. Many candidates are only focused on the franchise fee required when looking at franchises to buy and wrongly assume this investment is the only cost that actually puts them in a business that will throw of unrealistic and quick profits. The ugly truth is the franchise fee in almost all cases is the least costly portion of the total investment and represents a very small fraction of the entire candidate's capital needs. In actuality, beyond the franchise fee the client will need additional amounts of capital to fully fund the enterprise and cover such items as pre-paid expenses (if they apply) to include deposits for a lease and utilities, construction build-outs or leasehold improvements, fixtures, computer systems, signage, vehicle purchases or leases, grand opening events, advertising, marketing, etc. The business will always need additional operating capital to continuously fund ongoing things such as employee's salaries, inventories, utilities, insurance, and all the other day-to-day expenses to keep the business open and operating.