7 Reasons to Start an ATM Side Gig

Side gig, side hustle, side business—whatever you call it, many people are looking for flexible ways to make extra money in addition to their regular jobs. As the cost of living continues to raise and salaries struggle to keep up, extra income streams are increasingly sought out and pursued.

But what side gigs are best? And how do you get started? Here, we’ll explain the best qualities to look for in a side gig and why an ATM side gig might be right for you.

What is a Side Gig?

A side gig is really anything you do to generate income in addition to your main source of income. Technological advancements, changes in consumer behavior, and economic factors have contributed greatly in recent years to what is now known as the “gig economy”. 

Technological advancements and a changing work environment spawned by the Covid-19 work-from-home movement have created more freelance, part-time, or short-term job opportunities facilitated by digital platforms. Side gig opportunities have diversified to include not only ridesharing, food delivery, and freelancing, but also virtual assistance, online teaching, and remote project-based work.

One of the key attractions of the gig economy is flexibility. People seek out side gigs that provide them with the ability to choose when and where they work, providing greater autonomy over their schedules. However, side gigs often lack the job security and benefits associated with traditional employment. This leads to financial stability and long-term sustainability concerns for those who come to rely on the income. 

But what if there was a flexible, financially stable, sustainable, and even scalable side gig opportunity? Would you be interested? If so, then an ATM side gig might be right for you!

7 Reasons to Start an ATM Side Gig

1. Flexibility

Like we said before, flexibility is probably the most important quality to look for in a side gig. It has to work around your schedule which might include a full-time job, family responsibilities, hobbies, etc. Rather than leave your full-time 9-5 to head to a part-time job from 6-10, a side gig should be something you do because you can not because you have to.

Flexibility means you aren’t devoted to a set schedule. You can set your own hours and work when you’re available. Not only does an ATM business provide you with this flexibility, it goes a step further by offering passive income.

2. Passive Income

Passive income is money that you generate even when you aren’t working. An ATM business can earn money while you work your regular job, travel, or even sleep! Once you set up your machine, it works for you. Aside from vaulting and periodic maintenance, there is really only a little time you need to devote to an ATM side gig compared to other hustles. There aren’t many side gigs that offer this kind of freedom.

3. Freedom

Freedom doesn’t just refer to the ability to set your own schedule or make money while you go out with your friends. It also means being your own boss. A part-time job comes with a set schedule, a boss, a dress code, etc. Freelance projects and gigs come with clients and deadlines constantly looming. And while there are many side gigs that allow you to work from the comfort of your home, an ATM business doesn’t restrict you to a computer screen for hours a day.

Operating an ATM machine isn’t just a side-gig; it’s a small business, and you are the owner. This puts a lot of power in your hands. You make all of the decisions. 

4. Low Overhead

Now, since your ATM side gig is really a small business, that does mean it will require some initial investment. The biggest costs will be the ATM equipment and vault cash, but other side gigs have their costs as well. Rideshare and delivery services come with fuel costs as well as general wear, tear, and mileage on your vehicle. Online teaching and other internet-based gigs might require extra computer equipment, software, or training.

Not only are ATM startup costs low, they also pay for themselves quickly and provide stability and sustainability. Again, these qualities are hard to find in a side gig.

5. Steady Demand

Have you ever heard the phrase, “Cash is king?” Well it is, and that’s good news for ATM owners. Despite the rise of digital currency and payment options, cash still has its place in society. It isn’t going anywhere anytime soon. 

There are still many situations where cash is necessary and/or preferred. And there are a number of benefits of using cash rather than card. This means that there is regular, predictable income to be made with an ATM machine as opposed to other side gigs that might require you to bid for jobs, sell yourself short to keep up with competition, or rely on seasonal opportunities. What could be better than steady demand? How about scalability.

6. Scalability

An ATM business is different from other side gigs because it is scalable. Want a raise? Increase your surcharge fee. Want to save up for a trip or new vehicle? Invest in another machine! Once you have one ATM machine up and running, there is nothing stopping you from owning more. 

In this way, you have full control over how much money you make. What’s more is your ATM business could even end up replacing your main source of income. You could quit your regular job to focus solely on making passive income with ATM machines!

The possibilities are endless, and you have the power to make your ATM side gig look however you want.

7. Diversification

There are lots of ways to make money in the ATM industry. Keep in mind that you don’t have to own and operate your own machine to make money in the ATM industry. You could negotiate locations for other ATM owners. You could just be the cash vaulter for someone else’s machine. Or, you could be an ATM salesperson and sell machines to businesses that want to operate one themselves.

Even if you do own your own ATM machine, you can still pick and choose which tasks you handle and which you outsource. Your ATM business is completely customizable.

How to Start an ATM Side Gig

Yet another benefit of starting an ATM side gig is that anyone can do it. It doesn’t require any specific certification, training, or education. Of course, training and education resources are available and valuable, but they are far from required. You can start an ATM side gig in just a few simple steps.

First, you will need to select and purchase your equipment. Then, you need to find a processing company to work with. This is how you will get your machine to communicate with the credit card networks. Many ATM processing companies like ATMDepot are also vendors, so you can take care of both of these tasks in one place.

Next, you need to find a bank that can supply you with regular vault cash. When opening an account, let the banker know about your ATM business and cash needs. This can help them prepare and let you know whether or not they are in a position to maintain an account for your ATM business.

You also need to find a place to operate your machine from. You want to find a place with a lot of foot traffic that’s not too close in proximity to a competing ATM machine. But basically, you just need to find a business that is interested in reaping the many benefits of an on-site ATM machine so that you can install your ATM there and generate surcharge revenue.

Once you find a location and order the equipment, the next step is installation and programming. After that, just advertise that your ATM machine exists and start making money.

Start an ATM Side Gig Today!

Convinced? ATMDepot.com offers a wealth of resources, both paid and free, to help you get started in the ATM industry. You can also expect continued support throughout the course of your business with ATMDepot as your ATM processing company. 

Whether you want to supplement your main source of income, own a business already and want to add another revenue stream, or are interested in replacing your regular job with ATMs, ATMDepot.com has everything you need. We have startup kits available for everyone from ATM entrepreneurs to store owners. 

For more information, join our ATM Entrepreneurs Facebook group, or contact us! If you are really serious about starting an ATM business, check out our Member’s Area where you’ll have access to negotiation scripts, videos, contract templates, and more.

If you’re looking for a simple way to make some extra money, start your ATM side gig today!