Easter Money: 9 Ways to Use Cash During Easter

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Easter money is an American necessity with the average household projected to spend $200 for a record collective high of $24 billion. Easter is coming up, and with it candy, food, gifts, clothing, and decorations. 

There are a variety of payment methods that can be used to purchase items in these top 5 categories of planned purchases. But cash definitely has its place at Easter time. 

Many kids and young people will be expecting goodies, gifts, and treats. Why? In this article, we will explore the history of this holiday, its traditions, and how you can benefit from using cash for Easter money this year.

The Origins of Easter Money

Easter is a Christian holiday that celebrates Jesus’s resurrection from the dead. However, many Easter traditions are not found in the Bible and likely have pagan origins. While historians only speculate about what Easter eggs, Easter baskets, and the Easter bunny represent, the theme of new life remains constant.

Easter Eggs, Easter Baskets, and the Easter Bunny

Easter, a Spring Equinox holiday, is a time to celebrate new life. Eostre was the Germanic goddess of fertility who blessed harvests. Carrying baskets of offerings to her ensured that harvests were successful. This is one potential explanation for the iconic Easter basket. 

Eostre’s animal symbol is a rabbit. This “Easter bunny” would be responsible for secretly bringing gifts and treats to children on the evening before Easter.

According to some sources, German immigrants to America brought with them the lore of “Osterhase” or “Oschter Haws,” an egg-laying hare. Children would construct nests (later to be replaced by decorated baskets) for the hare to lay its eggs. Rabbits are notoriously known to be prolific breeders—a sign of new life and fertility—which is another possible explanation for the rabbit as a symbol of Easter. 

Eggs can represent fertility, new life, and even Jesus’s emergence from the tomb. But some sources say that eggs were a forbidden food during the Lenten season. Decorating them was a way to mark the end of the fasting period. Then, they would be eaten in celebration.

Easter Coins and Easter Money

So, that explains the Easter basket, the Easter bunny, and Easter eggs. But what about Easter money?

You might remember opening eggs on Easter and finding coins inside, whether gold foil-wrapped chocolate coins or quarters and nickels. This tradition likely has its origin in 13th century England when royalty would give food, clothes, and coins to the poor on the Thursday before Easter Sunday. They would also wash the feet of the poor.

Feet washing, clothing, and food were replaced in the 18th century by a set allowance. Still known as Royal Maundy today, the tradition has evolved to include coins minted specifically for the occasion, known as Maundy Money. Recipients include elderly men and women chosen for the Christian service they have given to their Church and community.

Now, in the U.S., we fill our kids’ Easter eggs and baskets with chocolate coins, real coins, and even cash….  

Easter Money: 9 Ways to Use Cash During Easter

In short, Easter is a time for Christians to celebrate the resurrection of Christ and a time for everyone to get together for a special meal and other family traditions. Most families are projected to spend around $200 this year on Easter goodies. But there are some Easter traditions that just work better with cash.

1. Easter Eggs

Putting coins and small amounts of cash in Easter eggs is a nice alternative to sweets and candies. According to 90% of consumers, candy is the top planned Easter purchase this coming year. Why not replace some of that with physical money? Children are excited to comb through and play with shiny coins found in their eggs after their Easter egg hunts. It is also a great way to introduce currency to children at a young age.

2. Piggy Bank

Coins and cash for kids make fun additions to piggy banks. This can help teach kids about saving money. Then, plan with them what the money will be used for when it’s full!

3. Pez Dispensers

For older kids, cash inside of a pez dispenser could be a fun way to gift to the young ones in your life. Just fold it neatly, slide the dispenser up, and put the cash inside. What a nice surprise when they go to insert their candy!

4. Easter Baskets

You can also put cash gifts inside of children’s Easter baskets. There are many creative ways to even decorate baskets with cash and coins! As kids get older, Easter money could serve as a yearly allowance, a tradition for them to look forward to for years to come. College students can benefit from baskets with household supplies, food, treats, and even cash to help them with their expenses.

5. Easter Money-Holder or Card

Just as you might do for a birthday, you can always just give cash in a card rather than in eggs or baskets. This could be a nice addition to an Easter egg hunt for younger children or as an alternative for older kids. It’s also a good way to make sure everyone gets a fair amount instead of their Easter “payout” depending on the number of eggs they find.

6. Easter Bunny Money

Believe it or not, there is actual, official US currency with the Easter bunny on it. You can order $1 or $2 bills that are official, bankable, and spendable. Each USD bank note is a genuine authentic United States currency legal tender featuring a bunny portrait seal placed over the front of the bill covering the portrait of the president and creating an Easter Bunny Dollar Bill. 

You can also print your own, non-legal tender Easter bunny bills. This could be a good alternative as a toy for younger kids or to even help teach them about money and budgeting. Either way, Easter bunny money makes cute Easter egg, basket, or card fillers. 

7. Easter Money Origami

If you’d rather not spend extra money on Easter bunny money, you can make your own creative Easter bunnies by folding average bills into origami. You can make a full bunny or just a face and ears to add googly eyes to. Then put them inside eggs or toss them individually into a basket!

8. Easter Money Bouquet

If you are feeling really creative, you can make an Easter money bouquet for friends or loved ones. You can purchase them already made, or you can make your own! These can also make good donations for causes you’d like to support around the Easter holiday.

9. Church Collection

Last but not least, you can use cash at Easter time to offer a financial contribution to your local ministry. Easter is one of the most highly attended church days (along with Christmas Eve and Mother’s Day). 

According to Thom S. Rainer, this spike is likely due to high numbers of active and inactive patrons appearing at the same time on the same day. Those who do not attend church regularly will typically at least try to attend once a year at Easter. This is a good opportunity for local churches and other ministries to raise money through a collection, bake sale, or other donation-driven cause.

Allowing children to contribute cash to church collections and other donation areas helps teach them not only about the value of a dollar but also about charity, giving back, and sharing. 

Easter Money and Cash are King

We hope you noticed that each Easter money example above would not be the same if replaced by plastic. Cash is still very much a part of our history, our traditions, and our children’s lives. It is great for gifts, charity, and even teaching purposes. 

This Easter, try to get creative with cash! Can you think of other ideas not listed here? Since cash is so versatile, we’d be surprised if you couldn’t think of more ways to use cash for Easter money this year. Interested in making cash work for you? If you’d like to make passive income from owning your own ATM machine, check us out today!

5 Opportunities for a Portable ATM

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A portable ATM is a good way to generate passive income, especially if you live in or near a major city. This is because a portable ATM machine is quite versatile. If there’s a power source, you can operate a portable ATM at any indoor or outdoor event! 

Benefits of a Portable ATM

Benefits of a Portable ATM for an ATM Owner

If you are thinking about getting into the ATM business or have already started, it’s probably because you desire the flexibility. ATMs allow you to make passive income. That means that your machine makes money for you while you take care of other business or enjoy your freedom! And a portable ATM is even more flexible than a stationary one.

This flexibility means that you have more options and more control with a portable ATM. You can operate it at multiple events in a year, in a month, or even in a week. And new events arise all of the time! This ability to travel increases your exposure and reaches more and more potential customers.  Stationary ATMs, on the other hand, are only trafficked by the same locals, and only on an as-needed basis.

Another benefit of a portable ATM is that you can find opportunities that are particularly traffic heavy and cash-based. This increases your transaction potential because you are offering a necessary service at a temporary location. The alternative is placing your machine and hoping customers use it.

Competition can also be minimized by operating ATMs at events. Attendees are not likely to leave the event to hit their bank or a convenience store ATM. 

Benefits of an ATM for an Event Host

While a portable ATM machine can bring ATM owners passive income, it can also result in more success for the event hosts. There are event attendees who want to minimize the amount of cash they carry on themselves, especially at events with large crowds. This is typically a safety precaution. 

Instead, they might plan to visit an ATM for incremental cash as the need arises. Without this convenience, attendees are likely to spend less, either because they don’t have the cash necessary for purchases or because they have to go off-site to get cash. Leaving the event might produce opportunities for attendees to spend their money elsewhere along the way, which is business that the event loses out on.

Event hosts also want their vendors to do well. This keeps them coming back and ensuring that attendees have an enjoyable amount of options for food, beverage, goods, and entertainment.

5 Opportunities for a Portable ATM

Any multi-day event is a great opportunity for a portable ATM. Multi-day events bring in large crowds of people who need cash for food, drinks, and other vendors. The following 5 opportunities are particularly good ideas especially as the seasons change and outdoor activities return!

Farmers Market

Farmers markets are great locations for portable ATM machines. This is because most vendors accept cash only. There are some that now use Square or money transfer apps like CashApp to accept payments, but small business owners benefit more from cash payments.

Each digital card transaction costs small businesses 3% of the transaction. So even though you might pay full sticker price, and you might even tip, for every $1,000 in sales paid by card, that vendor loses $30 of their revenue to financial institutions!

Pop-Up Markets

Pop-up shops are forms of “flash retailing”. And they’re a relatively new trend. And you know that “trend” is synonymous with “popular”. There is some underlying novelty to a shop or product that is available to you only for a limited time! 

Pop-up markets are popular because they generate interest, create a sense of urgency, and get people to come pay various businesses a visit for a fun, limited time event. Visitors are compelled to make some sort of purchase even whether they visit intentionally or come across it by accident because of this “limited time” element. Ever heard of FOMO? The fear of missing out…?

Pop-up shops are particularly refreshing lately because of the overwhelming amount of online marketing consumers are constantly faced with. Pop-up markets put faces to small businesses and add a personal connection that is hard to duplicate online. Therefore, if you want to place your portable ATM where consumers are, pop-up markets are the place to be!

Fairs, Carnivals, and Festivals

Fairs, carnivals, and festivals are obviously great locations for portable ATM machines because of the size of the crowds they draw. However, if you want to break into an event that has a long history in your town or town adjacent, you will probably find that they already have an ATM hook-up. 

But don’t worry. You can always try to contact an event planner or manager to see if he or she is happy with the current provider. If not, you might be able to convince them to partner with you instead if you can solve a certain pain point they are experiencing. This applies as well if they operate their own ATMs. Maybe they are tired of the extra work and would be relieved to have someone in the industry take over the task!

Fairs, carnivals, and festivals are also great opportunities because these typically only operate for about a week to a month before they move on. That allows you to explore and participate in other events throughout the season or year so that you aren’t reliant upon one particular event or audience for your success. 

Furthermore, these types of events are less likely to experience “slow” days. Farmers markets and pop-up markets, on the other hand, might lose business on days when the weather is less than ideal.

Concerts

Concerts are also great opportunities for portable ATMs, especially concerts that are held outdoors. These types of concerts can vary in location depending on the occasion. 

For example, a bar or restaurant might host a concert or live music to celebrate an anniversary. Or a neighborhood might organize a summer event or series of events for their community. 

These are the best types of concert opportunities because they typically aren’t planned so far in advance that ATM services are pre-arranged. They also might not be traditional, meaning the planning committee might not already have an ATM operator who has approached them in anticipation of an annual event. However, if you are able to get your foot in the door, you might be able to become a trusted part of recurring events and secure your business for years to come!

Parades and Holidays

Parades, on the other hand, might be more difficult to break into because they typically are quite traditional. So arrangements for ATM machines might already be made. However, any upcoming holiday is a great opportunity to look into events where visitors will have a need for cash. Just try to plan ahead by making your inquiries off-season to beat any potential competition.

How to Place a Portable ATM

Most portable ATMs can transmit transaction information wirelessly, so you don’t need a phone line to operate one. They are usually self-contained units, so you don’t necessarily need to house one in a building or enclosure, though canopies can help encourage usage, especially on wet days. 

When placing your machine(s) at an event, there are a few things to keep in mind to ensure that they see maximum traffic. First, you’ll want your machine to be visible and obvious. Near the entrance(s) is a prime spot because everyone in attendance will pass by. Other good spots include food and beverage vendors, shops, and anywhere tipping is expected.

However, for security purposes, you also want to make sure that your machine is safe from damage, vandalism, and theft. So it should be well lit at all times and within view of security cameras or event staff. You might also consider bolting it down if the location accommodates it. These precautions also make users feel more comfortable using your machine knowing that they are visible to witnesses.

Conclusion

Whether you are already a seasoned ATM owner looking for more opportunities or if you are just starting out, a portable ATM machine can be a great source of extra income. If you live in or near a large city, obviously, your opportunities will increase, but a portable ATM can do well in small towns too, especially if you already have good connections.

If you want to know how to get started in the ATM business, ATM Depot can help! We have guides and resources available for both ATM entrepreneurs and for pre-existing business owners, including event hosts and planners! Have questions? Feel free to contact us today!

7 Reasons Why Cash is Better Than Card

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Do you know why cash is better than card? If you are in the ATM business, then you probably have your reasons, the number one reason being revenue…. But with the advancements in electronic payment technology, money transfer apps, and cryptocurrency, some might start to wonder whether cash will become obsolete.

We’re here to tell you that cash is here to stay. Not only are there a number of situations and scenarios where cash is the only possible form of payment, there are also clear benefits of using cash instead of a debit or credit card.

Trust us. Cash is king. Here are 7 reasons why cash is better than card.

1. Minimize Debt

As you probably already know, credit is a quick way to accumulate debt. It’s the very nature of credit: buy now, pay later. Charging more than what you have or what you make results in debt. And it’s a very easy habit to develop. When you pay with cash, however, you own rather than owe. 

Paying with cash has also been proven to help with budgeting. Budgeting, in turn, prevents debt. Budgeting ensures that you only spend what is available. Therefore, budgeting is made easier with cash payments. You see and feel the money leave your pocket. When it’s gone, it’s gone. 

A budget is much harder to maintain when the debit or charge is so far removed. Ever heard the phrase, “Out of sight, out of mind”? Unfortunately, for many people that’s what happens when they pay with their cards. And this is what makes budgeting so much more difficult.

2. Avoid Interest

Then, as though charging more than what you have or can afford wasn’t enough to burst your budget, you accrue interest on your card payments. In this way, you end up paying more for your purchases when you pay with a card than if you had paid with cash. 

Of course, you don’t accrue interest if you pay the balance each month. But many people occasionally miss payments. Not only do you end up paying more in interest and late fees, but your credit score could be at risk, too. With more cash payments, these problems become less of a concern.

3. Avoid Overdraft Fees

While it might seem clear or even obvious why cash is better than card when it comes to credit, it does have its place above debit as well. First of all, the same “Out of sight, out of mind” maxim applies. It is much harder to stick to a budget when you don’t actually see or feel the funds leave your wallet. 

Second, your debit payments don’t accrue interest, but have you ever miscalculated your balance and been charged an overdraft fee? There’s $20 you’ll never see again…. Alternatively, depending on your bank, you can only get cash if your available balance will support it. 

Once you have the cash, you can spend it until it’s gone without suffering overdraft penalties! You always know how much you have at any given time without the confusion of “pending” transactions, “available” balance, or delayed processing.

Unless you want to keep a register, like we did when checks were more commonplace (Does anyone miss checkbooks?), it might be best to use cash as much as possible rather than rely on debit transactions. Especially if you are trying to maintain a strict budget and decrease your debt.

4. Avoid Transaction Fees

Did you know that it costs money to process card transactions? Yes, there are network fees charged by your card company to process, or allow, your transactions. 

Many businesses adjust the cost of their goods and services to account for the amount these fees will cost them to process card payments. But there are some businesses (typically small businesses, pop-up shops, freelancers, etc.) that pass this fee on to the consumer. And some restaurants pass this cost onto their servers and deduct card transaction fees from their tips!

Maybe a 3% payment transaction fee doesn’t discourage you from the convenience of making an electronic payment rather than a cash payment. But think of it this way:

You use a card to pay for a $50 restaurant tab. That $50 is now worth only $48.50 when you subtract the transaction fee. Whereas if you pay for your meal with a $50 bill, that $50 bill retains its value whether it’s used for groceries, a haircut, or a movie by the next person.

So after, say, thirty card transactions, that $50 will end up being only $5. The other $45 becomes property of the bank after all of the digital transaction fees are paid….  Is that where you want your money to go? 

5. Spend Less

Psychologically, we spend less when we use cash instead of card. It doesn’t “hurt” as much when we spend without our means if we don’t immediately experience the effects. In other words, the option and/or ability to postpone the consequences of our spending money we don’t currently have results in overspending. 

For this same reason, you are more likely to encounter deals when you are able to pay in cash. Individuals, small businesses, and, well, basically anyone, prefer cash payments to electronic payments. 

First of all, they don’t have to worry about missed payments. Sometimes it’s more important to a seller that they get full payment immediately than have to deal with defaulted or delayed payments. 

Secondly, when someone receives a cash payment, again, they benefit from the entire value of the banknote. The alternative is either having to deduct a percent of a card payment or risk missed payments. Therefore, since most people would rather have the security of full payment up front, they are more likely to offer you a sale for less than the ticket price if you have cash.

Often the “ticket price” accounts for the cost of waiting for a fulfilled payment and any associated fees. So when you pay with cash, you not only avoid paying interest, but you might also benefit from paying less up front due to the convenience afforded to the seller. 

6. Decrease Risk of Identity Theft

Have you ever received an email saying your information was compromised in a data breach? When you swipe your card, credit or debit, you put yourself at risk of being robbed. 

When you swipe your card or use it online, your card data can become compromised if there is a lapse in security. This risk applies to money transfer apps tied to your accounts as well. 

On the other hand, there is no paper trail with cash. So when you make cash payments, your personal information remains secure no matter what.

7. Pay for Almost Anything

Finally, cash is universal. You tip your server, bartender, barber, or manicurist in cash. You give a dollar or two to the beggar on the corner. Your kids get their allowance in cash. You pay your young neighbor in cash to babysit. The local farmer’s market or pop-up exchanges goods for cash. 

Most cannabis dispensaries are cash only still, too. And with the recent change in money transfer app taxable income reporting, you might start to find even more freelancers, independent contractors, and other self-employed individuals encouraging cash payments. 

Cash is almost always accepted. You will find more “Cash Only” signs than you will “Card Only” signs. Since cash retains its value while the bank shares in electronic transactions, some businesses just don’t want to pay those transaction fees. And what happens when “the system is down”? You pay with good old fashioned cash!

Most importantly, everyone has access to cash. Minors, low-income, and other unbanked individuals would find it quite difficult to fit into a cashless society. Cash is non-discriminatory and is absolutely necessary in today’s world.

Why Cash is Better Than Card

Now, we know that alternative payment methods definitely have their place. But we also know that because of the benefits cash offers, it won’t become obsolete anytime soon. 

Cash is traditional and familiar. It’s reliable. It’s universal. And it’s better than plastic.

Now that you know why cash is better than card, are you convinced that an ATM business is a solid investment? Contact us to get started today!

9 New Year Business Quotes for ATM Business Owners

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New Year business quotes function much the same way as any other motivational quote you might have seen in your lifetime. The difference is that these quotes can be directly applied to business owners.

The beginning of a new year is inherently motivational for most people. It signifies a fresh start, a second chance, and new opportunities. This applies to us personally as well as professionally. As a business owner, entrepreneur, or self-starter, do you feel more motivated with the arrival of the new year?

If you need a little more motivation or inspiration, here are 9 New Year business quotes to help you achieve business success this year.

1. “Another day, a whole ‘nother set of possibilities.” -MacGyver

We like this New Year business quote because it doesn’t just apply to a new year. You can apply this one to any day. A new year, a new quarter, a new month, a new day…. All signify opportunities to achieve more. 

What are your goals for this year? What are your goals for this month? For today? And those are just the possibilities you’ve listed for yourself. Those don’t even account for the opportunities that will come your way that you might not even expect. Will you take advantage of those opportunities? 

Angus “Mac” MacGyver is famous for his unconventional problem solving skills. Will you be defeated by any problems this year brings, or will you welcome them as possibilities and opportunities? 

2. “Cheers to a new year and another chance for us to get it right.” -Oprah Winfrey

“Cheers” is right! Hopefully you welcome the new year rather than dread it. You should celebrate an end to the previous year, a year surely filled with mistakes that you have since learned from. Take comfort in knowing that this year offers you a fresh start, a clean slate, a chance to put into action everything that you learned from last year.

Although it may seem that Oprah gets everything right all of the time, that is far from the case. And if she needs another chance to get it right, cut yourself some slack and try, try again.

3. “There are far better things ahead than any we leave behind.” -C.S. Lewis

C.S. Lewis is a writer known for The Lion, the Witch, and the Wardrobe and The Chronicles of Narnia. As a fiction writer, he knew a thing or two about possibilities. You, too, are a writer. Although Lewis’s famous works contain fantastical elements, you have the chance to write your own story. 

What does the new year hold for you? What are you manifesting or working toward? No matter how successful (or disappointing) last year was, you now have the chance to make this year even better. The pen is in your hand. 

4. “A person can succeed at almost anything for which they have unlimited enthusiasm.” -Charles M. Schwab

Sure, easy for Charles M. Schwab to say, a man who accumulated a fortune of around $200,000,000 in his lifetime. Nonetheless, there is truth to what he says. Everyone measures success differently. Success looks different for each individual and for each business. However, if you love what you do, find joy in your work, and are genuinely enthusiastic, there is no doubt that success will follow.

5. “Work smarter not harder.” -Allen F. Morgenstern

We know, we know. You’ve heard this one before. But did you know that it dates back to the 1930s? Allen F. Morgenstern, an engineer, coined the term during a work simplification program with the intent of increasing peoples’ ability to produce more with less effort. 

Now, there is some controversy about this particular new year business quote. So allow us to clarify why we’ve included it here:

First of all, it doesn’t mean you should work yourself to the bone. It doesn’t mean you shouldn’t ask for help. It doesn’t mean you should already have all of the answers. Quite the opposite.

Working smarter, not harder, in the context of your ATM business, means you should rely on those who have more experience in the industry. Ask questions. Ask for help. And plan ahead.

Working smarter also means you should prepare for any and all potential threats to your business. By this we mean ATM security. What potential threats, problems, malfunctions can you prevent this year that will save you time and money resolving in the worst case scenario? 

With the appropriate processes and procedures in place this year, you can ensure more revenue with less effort this year. Just like Morgenstern taught us.

6. “Do more than is required of you.” -General George S. Patton

Does anyone really succeed by doing the bare minimum? General George S. Patton didn’t. One of the most famous American military commanders during World War II, General George S. Patton was known as “Old Blood and Guts” and was awarded a Distinguished Service Medal and the Purple Heart.

General George S. Patton went above and beyond his duty and was revered and respected for doing so. This is what is necessary to make a name for yourself. If you’ve “gotten by” in the past, this year, try to do more than is required of you and see if you notice a difference in your business (and your life!).

7. “Creativity is intelligence having fun.” -Albert Einstein

Once you have some experience in the ATM industry under your belt, you can start to get creative. Experiment with your surcharge. Will a lower surcharge bring in more customers and therefore more revenue? Or is your traffic mostly local regulars where a higher surcharge brings you more consistent income?

What about advertising? Is there anything you can do to draw more attention to your ATM machine or business? Are there any extra features you’d like to add to your ATM machine this year to set your business apart from the competition?

Can you get creative with opportunities in the ATM industry? Maybe you want to start selling ATM machines to locations or get into cryptocurrency ATMs. 

You don’t have to be a genius like Albert Einstein to be successful. Once you have a little more experience, or intelligence, about the ATM industry, you can start to get creative and have a little more fun with your business.

8. “If you want something new, you have to stop doing something old.” -Peter F. Drucker

This New Year business quote from Peter F. Drucker, management consultant, reminds us of another: Insanity is doing the same thing over and over again and expecting different results. Do you want to make more revenue? Do you want to scale your business? Are you unhappy in your current position? Would you prefer to work out of a different location?

If there is any aspect of your business that makes you unhappy or uncomfortable, it’s time to make a change. Whatever it is you are doing now that isn’t working needs to stop. 

“Something new” could refer to something material: If you want a new car, you might have to make more revenue. Okay, so what changes could you make to your business that might generate more income?

Or, “something new” could refer to a state: If you want to feel less stressed in your business, you might need to consider a different business model. Is there an aspect of your business you’d like to focus more on? Are there parts you could outsource, maybe parts you dread or don’t really have time for? 

Every ATM business looks different. There is no one way to do it. What do you want yours to look like this year?

9. “A business absolutely devoted to service will have only one worry about profits: they will be embarrassingly large.” -Henry Ford

Henry Ford knew a thing or two about service and profits. His service made him a household name, and he would have been worth about $200 billion today.

Now, your ATM business operates on a much smaller scale than Ford Motor Company, but what is one surefire way to ensure you keep generating profit? Focus your energy and attention on the customer. 

Great ATM customer service goes a long way. Customers are loyal to businesses that listen to them and know them. What do the customers in your area need? What surcharge is convenient for them? Are they able to contact you? How quickly do you address machine issues?

You don’t have a business if you don’t have operating machines. And you don’t have income if you don’t have customers. So focus on them this year.

What Can New Year Business Quotes Do For You?

If you struggle to get motivated or stay motivated, these quotes might just help. Take it from the experts, from business owners, entrepreneurs, and self-starters just like you. They’ve been where you are, they know what it takes. And so do we.If you need help getting started, scaling your business, or exploring other opportunities in the ATM industry, don’t hesitate to contact us here at ATMDepot.com. We can help you reach your business goals this year.

7 ATM Business New Year Resolutions

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Business new year resolutions. Have you heard of it? Sure, we have our personal ones. But why not treat your business with the same respect? Business new year resolutions are a good way to assess the state of your business and make the most of the upcoming year.

Curious to know where to start? Feel like you’ve already got a good thing going? Check out these 7 ATM business new year resolutions just to make sure. 

1. Make Financial Projections

Making financial projections is an important part of any business. An ATM business is no different. Reviewing each year’s finances sets you up for success in the upcoming years. It allows you to make relevant decisions for your business and set realistic goals.

For example, you want to consider your cash needs. Did you have enough this year to run your business? Will you need more next year? Less? 

Additionally, consider your revenue goals for next year. Did you hit your revenue goals this year? If you didn’t, what do you need to adjust?

Finally, what expenses do you predict for the upcoming year? Are you prepared to cover them?

Making financial projections allows you to make strategic decisions and have clear expectations for the year ahead.

2. Plan Strategically

Once you have your financial projections in place, what’s your plan for implementation? What will you do to reach your goals? If you want to scale your business, you might consider investing in more machines or building some relationships with location owners. 

If you want to increase revenue, you might want to revisit your surcharge fee. Is it still competitive? Is it still reasonable for your customer-base? Spending and market trends change all of the time. So make sure your surcharge continues to match your target audience’s needs to bring in as many transactions as you can.

Maybe there are more opportunities in the business that you might be interested in. Do you want to outsource vaulting? Or start vaulting yourself? Do you want to try a new role in the ATM business? You could switch from independent ATM deployer (IAD) to ATM seller. Or maybe you want to do both!

You might also think about developments in the market. Cryptocurrency and cannabis might present new business opportunities for you this year. And maybe you want to explore other businesses in your area that are experiencing a high cash need. What new businesses started in your town recently that you could approach?

All of these are factors you should consider for the new year. This is the best time of year to be thinking about your ATM business new year resolutions that set you up for a lucrative upcoming year.

3. Market Yourself

If you decide that you do want to scale your business or make more revenue or explore some new opportunities this new year, you might need to do some marketing. If you haven’t done so yet, you might start on social media. Create a business page or account and advertise the service(s) you offer and the pain points your business helps solve. 

You can do the same on ATM business fliers and business cards. ATM business fliers are great ways to leave behind information for location owners who don’t have time for a meeting with you or who want time to think about an offer. ATM business cards are handy when unexpected opportunities come your way. Keep some on you for when people inquire about your business!

And, depending on the size of your business, you might consider creating a website. What people do you want to reach, and what is the most accessible way for them to find you? If your marketing could use improvements, make this one of your ATM business new year resolutions!

4. Use More Technology

It’s never too late to start using more technology. So often it makes our lives easier—and our businesses. Think about your current ATM equipment. Is it becoming outdated? Do you need to invest in newer machines? This could prevent you having to worry about repairs or unexpectedly being out of order. However, newer, shinier machines bring in more traffic than older, dingy machines. 

There are other things you can do, though, to improve an older machine without springing for a new one. You might add new and improved features or improve existing ones. For example, you could add a topper to your machine that displays relevant messages to patrons. Toppers also draw users’ attention which means more business for you!

You could also upgrade your keyboard to one that is lighted. This is visually pleasing to customers and helps them conduct their transactions in dimly lit locations like bars and restaurants. Screens can be upgraded, too. Bigger ones draw more attention, and ones where customers can see themselves make them feel more secure using your machine.

If you struggled with internet service this year, you might want to consider purchasing a wireless device. This gives you more control over your connection and service without having to coordinate with the location’s internet service provider (ISP). More reliable internet service means that you are able to provide more reliable ATM service which could improve your business this coming year.

5. Update Security

Speaking of using more technology and implementing updates and upgrades, you will want to think about improving your security, too. 

It can be overwhelming (and expensive) to spring for every feature available for ATM machines when you are just getting started. Purchasing an ATM machine itself is a financial commitment even without all of the add-ons.

So, if you’ve been in business for a while, have made some revenue, and feel more comfortable, it might be time to improve your ATM security. Security cameras, GPS trackers, and online monitoring are great ways to protect your assets and your customers. You also want to update your software to protect against software hacks that can cause your machine to malfunction.

There are other security measures you can implement, too. For example, think about switching up your vaulting schedule to be less predictable. Or, if you hire out any of your business processes, get rid of anyone you don’t trust. Alternatively, if you are wanting to work less in your business, hire people you do trust to take over the parts of the business you no longer enjoy.

Still haven’t purchased ATM insurance?  Could you benefit from peace of mind? Are you in a better position to add the expense? It’s something to think about as you prepare your business for the new year.

6. Get Business Processes Down on Paper

To really have an organized business, it’s a good idea to document your business processes and practices. Get all parties and their responsibilities down on paper. Revisit, review, and update any contracts you have with location owners or third party partners.

The new year is a good time to make sure all of your ATM business processes are running smoothly and that you are comfortable with them. If they aren’t, you will need to get your business back on track. Make sure that each person involved in your business knows the processes and adheres to the practices you have laid out.

7. Clean Up

Finally, make sure your business is clean going into the new year. Clean the area around your ATM machine. Sweep, dust, polish, and sanitize. If any stickers are peeling, replace them! A clean machine is more attractive to passersby and puts you a step above the competition. Plus, it’s just a good way to enter the new year: fresh!

What Are Your ATM Business New Year Resolutions?

Now that you’ve seen 7 of our ATM business new year resolutions suggestions, it’s time to make your own list. What goals do you have for your business this year? What changes do you need to make? Is there anything you want to start doing? Stop doing? 

And if things are going great, keep up the good work! What do you need to keep doing? And how can you prepare for obstacles you might have luckily avoided in the past?

It’s never too late to be prepared. There is always room for improvement. Remember that as trends and markets change, so should your business. Pay attention to who your customers are and what their needs are. That’s where you will find the most success.

This new year, those of us at ATM Depot wish you nothing less than prosperity!