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Welcome to the PRO Members Area
Quick Links
Step 1.
Learn ATM Terms
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Step 2.
Setup Your Business
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Step 3.
Ordering your First ATM
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Step 4.
Securing Locations
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Step 5.
Programming & Installation
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Step 6.
Filling the ATM with Cash
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Step 7.
Making Money
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Step 8.
Noah’s Insider Tips
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Step 9.
ATM Security
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ROAD MAP TO A SUCCESSFUL ATM BUSSINESS
STEP 01
THE BASICS
INTRO AND FIRST STEPS
Meet your Instructor as he takes you through the most important first steps that will set your business up for success.
Test Your Knowledge
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STEP 02
BANKING AND INCORPORATION
THE FOUNDATION OF YOUR BUSINESS
New ATM Business owners struggle with this one the most. I’ll help you navigate the banking landscape like a pro, drawing on my 30 years of experience in this ‘business banking secrets’ module.
Test Your Knowledge
Bonus Resources
How to Find and Choose the Right Bank
Sample ATM Banking Questionnaire
How to Setup a DBA
STEP 03
BUYING AN ATM
WHAT TO KNOW WHEN BUYING AN ATM
Learn my best hack on how to use other people’s money to jump-start your business. I’ll cover how to sort through all the ATM models to determine what’s best for you.
Test Your Knowledge
Bonus Resources
How Does My ATM Get Delivered?
STEP 04
SECURE LOCATIONS
HOW TO FIND AND SECURE LOCATIONS
Just like in real estate, location is the key to success. Discover how to find locations and how to talk to owners and proprietors with exclusive swipe scripts. Follow my plan and you will get locations.
Test Your Knowledge
Bonus Resources
Cold Calling for ATM Business
How to Find a Good Location to Put an ATM
How to Get an ATM in a Laundromat
How to Get an ATM in a Brewery
How to Get an ATM in a Nail Salon
ATM Leave Behind (Hyosung)
ATM Leave Behind (Genmega)
Sample SLA
STEP 05
PROGRAMMING AND INSTALLATION
YOUR GUIDE TO PROGRAMMING AND INSTALLATION
Buckle your seatbelt for a comprehensive guide covering programming, master keys, admin functions, wireless installation—the whole shebang! Plus, my secrets to overcoming the number one objection about installation!
Test Your Knowledge
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STEP 06
VAULTING BEST PRACTICES
VAULTING BEST PRACTICES: FUNDING THE ATM
We’ll discuss how much cash you need, the best tricks for when and how to load, along with reversals, balancing, journal requests, and answers to the three most common questions about loading an ATM.
Test Your Knowledge
Bonus Resources
Cash Loading (Management Functions)
Full Cash Loading with Receipt
STEP-07
MAKING MONEY
HOW MUCH CAN YOU MAKE?
Here’s where the rubber hits the road. I walk you through Surcharge & Interchange and show real examples of how much you can actually make. We’ll even cover business start-up costs and how taxes work.
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STEP 08
INSIDER TIPS
OWNERSHIP & RESPONSIBILITIES PLUS OPPORTUNITIES
I’ll dive into making money in all aspects: Free Placements, Selling Machines, and providing service, or Buying a Route. I reveal all my insider tips to negotiate revenue sharing to get locations.
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STEP 09
ATM SECURITY
THE COMPLETE GUIDE TO ATM SECURITY
For the final touches, we’ll go over alarms, cameras, insurance, the pros and cons of merchant loading, plus my special tips on bolting ATMs down and overcoming any objections to it.
Test Your Knowledge
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Bonus Videos
How ATM Processing Works?
How does the ATM know the cardholder has money in their bank account? This video will help you get a better understanding of ATM processing through visual aid.
How does my ATM machine get delivered?
If you’ve never dealt with a shipping company or received any type of equipment on a pallet, this video will help you know what to expect upon delivery. We also suggest what to look for before signing the delivery receipt in case of damage.
How do I find good local locations where I can put an ATM?
This 4-minute video explains how we look for new possible locations in eateries. While this is not the first video in our series of tutorials and learning videos, it is one of the most asked and most important for new ATM Business owners.
Resources
ATM Order Forms, Mobile AppBuying an ATM is a whole lot faster and easier with our secure digital forms. No more downloading, printing, scanning, emailing, or faxing forms. Digitally sign forms right form your phone and submit instantly.Learn MoreATM Profit CalculatorCheck out our Calculators to the right to make better decisions. These ATM profit calculators can help you determine if a location you’re considering might be a good location.Learn MoreATM Business FinancingWell, to start an ATM business, you really only need $5,000. That would get you your first machine
($2,000 – $2500), depending on the type of ATM Machine you want, then that leaves you about $2,500 – $3,000 for vaulting (the money that goes in the ATM). However, the smarter way to start is to preserve your cash-on-hand for loading ATMs and get ATM Equipment financing for the ATM Machines.Learn More
Get Your First ATM Machine Now!
Frequently Asked Questions (FAQs)
How do I get started with an ATM business?
Begin by educating yourself about the business and researching the necessary regulations and requirements in your area. From there, develop a solid business plan, secure locations for your ATMs, and implement effective management systems to ensure success.
Start by researching industry regulations, drafting a business plan, securing locations, and implementing management systems. If you need some guidance, we offer comprehensive training for beginners. No obligations, just a heads up.
How much floor space does the ATM need?
Not much. The ATMs we install are only 15.8” x 22”, less than 2 sqft.
What forms are required to start an ATM business?
To initiate your ATM business setup, you will need to complete several essential forms to ensure compliance and provide necessary information to your ATM provider.
What are the initial equipment costs required to start an ATM business?
We offer a range of ATM machines with prices varying based on models and features. Our typical recommendation is to budget around $2500 per month for machines over a two-year period to establish a profitable ATM network.
What are the ongoing monthly expenses for an ATM business?
Ongoing expenses include wireless communication fees, alarm system fees, bank fees, gas when going to load cash, maintenance, and potentially web hosting fees and ISO fees. Budgeting for these costs ensures smooth operation and profitability.
Why is a W-9 Form necessary for an ATM business?
As an ATM operator earning revenue, you must complete a W-9 form to report residuals for tax purposes accurately.
How long does it take to break even on your first ATM?
The time it takes to break even on your first ATM depends on its placement:
Permanent Location (Local Business): If the ATM earns an average of $300 to $600 per month, it would take approximately 4 to 8 months to break even, given the ATM costs $2,300.
How can I effectively prospect for potential ATM locations?
Prospecting for ATM locations is crucial for success. We advise obtaining 500 business cards and actively networking. Additionally, our team provides guidance and resources to help you identify and approach suitable locations.
Where can I get money to fund my ATM?
The cash to load ATM is typically acquired through three main methods:
- **Personal funds**: The speaker indicates that it’s common for ATM owners to use their own money for loading the machines. They clarify that currently, they personally withdraw money from their bank accounts to stock the ATMs.
- **Borrowed funds**: Alternatively, ATM owners can opt to borrow money from someone else to finance the cash loading process.
- **Third-party services**: While not recommended for beginners due to high costs, there’s the option to use services like armored trucks or cash vault services to handle the cash loading process.
What business bank accounts should I open for ATM business?
We recommend two checking accounts.
A general business income including any sales, parts, service, maintenance charges, and surcharge income. Basically all of your income from any business related activities goes into your main business checking account.
A separate checking account for funds settlement from vault cash. You fund this account with a dedicated amount you plan to use to load your ATMs with (vault cash). This account is only used by your ISO/Processor to settle the funds back into the account that you will then withdraw to reload back into the ATM.
What do I need to check when loading cash into an ATM?
Ensure all bills and denominations are in good condition. Check for any bent or damaged bills.
What should I do if I find damaged or incorrect bills during cash loading?
Pull them out immediately and replace them with bills in good condition to maintain the ATM’s functionality and provide reliable service to customers.
What should I consider when setting the surcharge fee?
When determining the surcharge fee, consider the fees charged by nearby ATMs to remain competitive. Adjusting the surcharge strategically can impact traffic to your machine.
How does the bank know to reimburse ATM owners when customers withdraw money?
When you own an ATM, you establish a relationship with an ISO (Independent Sales Organization) or a processor. You provide them with your business information and bank account details. Each ATM you own is assigned a Terminal Identification Number (TID), which links it to your bank account.
How do I receive the surcharge fees from my ATM?
Surcharge fees are automatically deposited into your bank account either daily or monthly, based on the paperwork filled out with your ISO.