How to Start Your Own ATM Machine Business

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How to Start Your Own ATM Machine Business
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ATM machines are generally profitable in public
places, especially large cities, because ATM
customers are willing to pay the machine an extra
few dollars to gain access to cash. If you are
considering starting your own ATM machine
business to create a virtually passive source of
income over the long term, you might want to
purchase used ATM machines from a site like ATM
Money Machine. Before you begin your business,
you should consider the following steps to
starting an ATM machine company
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Decide Whether to Start Your Own Company or Join
a Franchise
First, you need to determine whether you want to
join an ATM franchise or begin your own ATM
business, according to SmallBusiness.Chron.com.
If you join a franchise, you will probably
receive a name brand and machines, as well as a
solid business plan. However, joining a franchise
is generally more expensive than simply buying
your own ATMs, especially if you buy used
machines, so it will take you longer to earn a
profit.
Buy The Necessary Equipment
After you have determined your business plan, you
should buy the equipment or machines that you
need for your ATM business. You can either buy a
single ATM and gradually expand your business or
you can buy several machines right away. A single
ATM generally costs between 3,000 and 10,000,
sometimes less if you buy a used machine. You
will probably also need a truck to service and
move around the ATMs.
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Set Up The Legal Aspects of Your Business
You can now register your business under a
business name and buy a business license from
your local government. You should also consider
setting up a business entity, like a limited
liability clerk, to avoid personal liability by
filing articles of organization and paying
appropriate filing fees with your state.
Find ATM Machine Locations
Find appropriate public locations to place your
ATM machines. You will want to find public places
that receive a lot of pedestrian traffic on a
daily basis. About 3 to 5 percent of those who
pass by your ATM machines will use them. Using
those projections and transaction fees between 2
and 4, you can calculate about how much money
you will generate on a monthly and annual basis
at each ATM location. Speak with various business
owners and land on an agreement for placing your
ATM on their property. You will probably need to
pay rent or a commission to the business owner.
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Set Up ATM Machines
Place your ATMs at the locations that you have
secured from business owners and set them up.
Make sure that your machines have access to a
phone line or Internet and set up a computer to
check your ATMs on a regular basis. You can check
your machines status from this computer and see
when you need to refill them with
money. According to ATM Depot, you can estimate
that the number of daily patrons that the
establishment in which you set up your ATM
machine receives will use your ATM on a monthly
basis, give or take ten percent.
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Thank You
Office Address 2511 Fire Rd., Egg Harbor
Township, NJ 08234 E-Mail ID atmprograms_at_gmail
.com Phone No 1 609-641-7300 Website atm
moneymachine.com