For your first few ATM, Id recommend buying new. Once you understand the business you can begin buying used ATM. Just be careful to not get scammed. With new EVM chip laws, you will not want to buy an older ATM.
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With companies like
@Cardtronics, they will ship the ATM to your store location and install it for you.1 reply 0 retweets 12 likesShow this thread -
Your ATM is now installed. Everything is good to go. You as the ATM owner will set a surcharge rate. This will vary from location to location. Here in Ohio, an average ATM surcharge is ~$3.50. You load your atm with cash and sit back.
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Everytime someone uses the ATM, They withdraw (ex:$20) plus are charged the $3.50. So the customer pulls out $20, but is charged $23.50. You as the ATM owner just made $3.50 for doing absolutely nothing.
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ATM location is the key to this entire business. If you are in a prime location (dispenseries) you could make $3k a month per atm. I'd say this is the high end of the business. On average, you can make $400-$1,000 a month if your location is good.
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That's $400-$1000 for maybe an hour's worth of work. Now imagine owning 10 different ATM in 10 different locations. Things begin to add up.
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Your main job as the ATM owner will be ensuring your ATM is loaded with cash at all times. ATMs take approximately 1minute to fill. They will be filled with your own personal cash, but remeber, the (withdrawn amount) + (surcharge) is sent back to your bank account.
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So just to cover the financial inside again, someone pulls out $20,$40,$60 with their CARD. They are charged the $20,$40$60 PLUS $3.50 or whatever surcharge rate you set. You literally cannot lose money on the business end of this hustle.
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There is virtually no downside to this business. The only risk are things such as fire and water damage or someone actually stealing your entire ATM. Then likelyhood or those scenarios is slim to none. Nonetheless, be sure your ATM is located INSIDE the actual store for safety.
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Replying to @tellfisher
One of my relatives has an atm business. Last I heard it was over 400 in 12 states. Biggest expense at that scale: armored car service to stock the machines. Yeah, it pretty much prints money.
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Ahaha damn homie! Ya loading the ATM is the most sketch part. Especially if you're in a bad neighborhood.
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