Tag Archive for: atm business

9 Additional Income Ideas for Brick-and-Mortar Entrepreneurs

by

Additional income ideas are often sought after no matter who you are. But if you are a brick-and-mortar entrepreneur, you might have a leg up already. You already own a business which means you already have products and services ready to offer your customers and clients. Now, it’s just a matter of optimizing the resources you already have in place.

Here, we have 9 additional income ideas for brick-and-mortar entrepreneurs. That’s anyone who owns his or her own business and operates it from a store or office, but some of these ideas will apply to any business. If nothing else, use these ideas as a springboard for developing an additional income stream that works for you!

Workshops and Classes

Workshops and classes are a great way to promote your services and engage with the community. And, you don’t even have to have a lot of space. Depending on the nature of your business, you might be able to host workshops and classes online. These can be live, like a webinar, or prerecorded, like a class. 

This is one of the most flexible additional income ideas. With pre-recorded classes, you can create the content and roll it out when there is particular demand for it, or just sell it as an appetizer for done-for-you services.

Online classes and workshops allow you to offer this service without the need for a ton of space, and those who are interested will be better able to fit it into their schedules. However, if you do have the space, in-person workshops can bring in traffic to your store where they can view and purchase items and services. It’s a great way to get exposure.

Workshops and classes work well for any service people typically have done for them. This might be financial maintenance, meal prep, auto repair, or crafting. If you have expertise in a particular area related to your business, you can offer workshops or classes.

Online Sales

If you own a brick-and-mortar retail store, you might consider offering online sales. You can do this from your own website or even from social media and other third-party platforms like Amazon or Etsy. Determine a maximum shipping radius and develop a set shipping fee or adjust online ticket prices and offer “free” shipping. Either way, this can bring in more sales without costing you anything extra. 

Even if you don’t own a retail store, you can still offer online sales. You can sell any product related to your industry that clients and customers might need from someone like you. Say you own a salon, for example. You might consider selling beauty products online. 

As an expert in your industry, your customers will value your product recommendations. This can put you ahead of the competition with other big businesses. It also offers your customers a one-stop-shop. They’re already buying your service; why not buy your products, too?

Extra Services

To piggy-back on online sales, think of other services you can offer your clients related to your business. For example, if you run a beauty salon, you could offer makeup or skincare consultations. If you specialize in clothing design, offer alterations. A lawn care business could expand into other outdoor maintenance like cleaning gutters or washing windows. A restaurant or cafe can offer delivery, catering, or meal-prep packages. 

With specialized knowledge or expertise in your industry, you can offer consulting services to customers and even to other businesses. The possibilities are endless!

Loyalty Programs and Memberships

Loyalty programs and memberships are great upsells in and of themselves, but they also encourage repeat business and a steady stream of income. Offer a one-time or annual charge in exchange for discounted product pricing, special offers, coupons, free shipping, and other incentives. 

This is one of the most cost-effective additional income ideas. It requires very little extra time and resources.

Events

Hosting events offers a lot of benefits:

First, it helps you connect with your community. Especially if you live in a small town, people are always looking for something new to do. This is a good way for you to get to know your community better and network.

Second, it’s great for exposure. People who might not have previously been aware of your business might find you through your event. And then, of course, if held on-site, you bring in extra traffic to your business location. 

Events could include product launches, fashion shows, talent shows, singles’ nights, or networking events. Charge admission fees or partner with other businesses to sponsor the events. Partnering with other businesses that offer complementary products or services could include cross-promotion, joint event, or bundled offering opportunities, too.

Merchandise

Whether you own a salon, a lawn care company, or a financial advising business, you can sell merchandise. Sell t-shirts, ball caps, tumblers, etc. with your name, logo, slogan, or motto to friends, family, and regular customers and clients. Not only will they more than likely be happy to support you, but you benefit from the additional marketing, too!

Franchise Opportunities

If your business model is successful, consider franchising it to expand your brand and generate additional income through franchise fees and royalties. Scale your business and open more locations!

Rent Space

If you have extra space at your brick-and-mortar location, consider renting it out to other businesses or individuals for events, meetings, or pop-up shops. You can also rent store space out to an independent ATM deployer (IAD). Having an ATM on-site provides you with a number of benefits. 

It encourages cash payments which can save you money on credit card transaction fees. It also brings in more traffic to your location. Some people might visit you rather than a competitor for the extra ATM service. Others might visit you just to use the ATM machine. That’s okay. It still brings them into your business so that they know you exist and maybe even make an impulse purchase! 

There are also advertising opportunities with an ATM machine. You can work with the IAD to customize the graphics to promote your business and offer coupons on transaction receipts to encourage repeat business.

And, most importantly, you can earn a portion of the surcharge fee on each transaction made on an ATM in your location. So if you are approached by an IAD or are able to locate one, you should jump on the opportunity to let them operate an ATM machine from your location and share in the benefits, namely passive income: you make money without doing the work!

ATM Machine

Why share in someone else’s surcharge revenue when you could have it all? Sharing your location with an IAD is a great idea, especially if you feel like you are too busy to take on more responsibility. But if you have a few hours a week to spend on vaulting your own machine, it could be a worthy investment for you.

Owning your own ATM machine provides you with all of the benefits above plus the whole surcharge fee revenue. And, since you are already benefiting from having an ATM on-site, the surcharge revenue might just be the icing on the cake. Therefore, you could find yourself offering a competitively low surcharge fee which will bring in not only your own customers but ATM customers, too. You basically end up operating two businesses simultaneously!

Conclusion

When it comes down to it, an ATM machine might be one of the best additional income ideas because it requires the least amount of effort. It will require some regular maintenance, but you don’t need to spend nearly as much time planning and marketing for an ATM machine as you do for other additional income ideas. 

Plus, it’s cost-effective. It will require a little bit of money up-front if you purchase your own, but once it’s up and running, you make money anytime someone uses it; you don’t even have to be there! And if you are able to place it outdoors, you could be making money 24/7.That’s what’s great about being a brick-and-mortar entrepreneur: you already have the number one asset of a location. Now all you have to do is optimize it. Interested in making additional income? Get your ATM start-up kit today!

Is an ATM Business Still a Profitable Business in 2024?

by

If you want to start a profitable business in 2024, you might want to consider looking into an ATM business. But how do you define “profitable” and how much profit do you want to make? An ATM business won’t get you rich, but it is a safe investment that can generate revenue immediately and turn a profit quickly. 

With the increase in digital forms of payment, you might be concerned that cash will soon become obsolete and therefore ATM machines. Although Americans are using cash less, we are still very far from getting rid of it altogether. 

So yes. An ATM business is still a profitable business in 2024. Here, we’ll tell you what that looks like. 

What Does It Mean to Be a Profitable Business?

A profitable business makes more than it spends. The money that a business generates is its revenue. What’s left over after startup and operational costs are covered is profit. 

There is typically a relatively high degree of risk when starting a business because of the high startup and operational costs. The business has to see enough customers, retain enough clients, make enough sales, etc. to justify those costs. Otherwise, the business costs more to operate than it makes, it doesn’t generate profit, and it fails.

Because of its low startup and operational costs, an ATM business is a lot less risky. It’s actually very difficult to lose money with an ATM machine.  

How Is an ATM Business a Profitable Business?

How an ATM Business Generates Revenue

An ATM business generates most of its revenue from the surcharge fee imposed on transactions made on the machine. Most of the ATM machines you see on a daily basis charge about $3.00 per cash withdrawal. 

The most basic way to calculate your profit is to multiply your surcharge fee by the number of transactions you expect to see in a day. For example, $3.00 times 5 customers equals $15. Multiply that by the number of days your machine is available to the public to estimate weekly, monthly, and even yearly totals.

Now, if you consider that an ATM machine plus the vault cash is around $3,000-$4,000, you’ll have that paid off plus more in the first year with the above numbers. So yes, an ATM business is a profitable business. It is very easy to make your return on investment (ROI) very quickly and therefore begin to profit.

Other Ways to Profit from an ATM Business

While you won’t get rich with an ATM business, there are other benefits an ATM business offers over other businesses. First, an ATM machine generates income while you sleep (or just do other things). 

When you think of the time and energy involved with running an average business, you might find that the profit doesn’t compensate you enough for the non-monetary resources you invest. An ATM business, on the other hand, doesn’t require your physical presence all of the time. 

This allows you to spend your time doing other things, whether it’s enjoying your free time, working another gig, traveling, or spending time with friends and family. These can be considered profits, too, which many other businesses don’t offer.

Second, there are many headaches you don’t have to handle with an ATM business. You don’t have to manage employees, rent an office or lease or purchase property, or even wake up early! You can monitor and manage your ATM business all by yourself if you want to, with an app on your phone, from the comfort of your home.

And, you can scale if you want to. Want to see more profit than you’re getting from one machine? Place another! With 10-12 machines, you could make the ATM business your full-time job, physically spending only part-time hours away from home. Say goodbye to job interviews, job security stress, bosses, coworkers, dress codes, and the rest!

Better Investment Than a Savings Account

Like we said before, it’s hard to lose money with an ATM business. You probably already have $3,000-$4,000 in a savings account at the bank. As of January 2024, the national average yield for savings accounts is 0.58 percent APY. 

That money, sitting there doing nothing will earn maybe $20 in a year in interest. Do you think you could get at least 7 ATM transactions in a year? We think you can! Investing in an ATM business will yield you more than the money you have sitting in your savings account at the bank right now.

Will Cash Soon Become Obsolete?

This might all sound great, but how long will it last? Take it from us: cash will not become obsolete in our lifetime. There are still way too many industries, businesses, and individuals that depend on it. Just because we are seeing less cash payments does not mean cash is irrelevant. It just means there are more payment options today for consumers. 

It makes sense that there are less cash payments today than there were in the ’50s and ’60s when credit and debit cards just hit the market. Today, in addition to cash and plastic, money transfer apps and an entirely new form of currency—cryptocurrency—have been added to the arena. But that doesn’t mean that we don’t still need cash.

There are a number of situations where cash is better than card. There are still several types of businesses that operate on a cash-only basis. And, good news for the ATM industry, there are even more businesses that would prefer to switch to cash only if it meant they wouldn’t lose customers.

According to the Pew Research Center, over half of Americans try to keep at least some cash on them at all times. And cash is still the most common form of payment for unbanked and low-income individuals.

In short, although cash is used less today than ever before, it is still relevant. And as long as there is a need for cash in our society, there will be a need for ATMs. Which means that an ATM business is still a profitable business in 2024!

Reasons Why an ATM Business is Still a Profitable Business in 2024 

An ATM business is still a profitable business in 2024 because people still need cash. Where there is a market, there is an opportunity. All you have to do is find a gap in that market, offer a needed service, and reap the rewards. 

It only takes a few thousand dollars to get started, significantly less than other businesses. And your ATM makes you passive income—you can be making money while you sleep! If you already have the money sitting idly in a savings account, you might as well put it to work for you!

Will an ATM business buy you a Lamborghini? No. But it could help you fund a vacation, spend more time with friends and family, or replace your 9-5 if you want it to. 

If you’re ready to get started in the ATM industry, get your ATM start-up kit today! If you still have more questions about how to own and operate your own ATM machine, check out ATMDepot Academy, your ATM business road map to generating a steady flow of passive income. 

15 Questions to Ask When Starting a Business

by

There are a number of questions to ask when starting a business to make sure you have a plan and clear expectations. You don’t want to go into business blind, so asking yourself the right questions can help you prepare for success.

Here, we have 15 questions to ask when starting a business. While these questions usually apply to conventional small businesses, they apply to ATM businesses too. 

An ATM business is unconventional in the sense that you aren’t selling a product, you don’t work directly with the public, and you don’t own your own location. But an ATM business owner has many of the same responsibilities as any other business owner. 

There are certain universal considerations, decisions, and liabilities that go into starting a business. We’ve tried to summarize them here so that you can go into business for yourself as an ATM owner with a clear direction and no surprises along the way.

1. What is my business idea and expectations?

The first of many questions to ask when starting a business is what your idea and expectations are. There are many ways to start a business in the ATM industry. So what aspects appeal to you the most? 

Do you want to own and place your own machine? Do you want to start a route of many machines? Would you rather sell machines to locations that want to operate the ATM themselves? Would you like to negotiate placements for other ATM owners? Do you just want to sell a service to other ATM owners like vaulting or technical support? Are you interested in getting into Bitcoin ATMs? 

Once you have a clear idea of your business goal, you can start taking the appropriate steps in the right direction. Managing your expectations early on can save you time and money you’d spend changing your mind mid-way through the start-up process.

2. Is there a market for my service?

Your business idea might (and should) depend on the market. Consider where you live and what opportunities are available to you. If you live in a small town, you might have better success operating your own machine than trying to manage others as there might not be many other independent ATM deployers (IADs) in your area.

You also want to consider the placement of an ATM machine. Are you able to identify a gap in the market? Is there an area with a clear need for ATM service? Are there ATMs in your area that are often out-of-order, outdated, or poorly managed? 

These are questions to ask when starting a business in the ATM industry so that once you have your machine, you know where to put it and how well you expect it to perform. An ATM machine with no transactions won’t make you any money.

3. What are the initial startup costs?

You want to think about the initial startup costs of starting your business so that you know how to budget for and fund your business. As an IAD, you’ll want to plan for the costs of ATM equipment, installation and programming, and vault cash.

4. What are the ongoing expenses?

After the startup costs, how much should you expect to deduct from your revenue in operational costs? This might include ongoing maintenance, wireless service, insurance, and any revenue you share with other parties like the location owner. 

Not every ATM business has the same ongoing expenses. Some you will want to budget for right away; others you can add once you start making money. You may or may not have a revenue share, but you’ll figure that out when you negotiate the placement. But it’s good to have some money set aside for maintenance costs like technical support, tampering or vandalism, and cleaning supplies. 

5. How will I fund my business?

Once you have a good idea of the initial costs of starting an ATM business, you’ll need to figure out how to fund it. If you already have a few thousand dollars saved up, you can fund the business yourself. Fortunately, ATM business startup costs are relatively low, so you should be able to fund the business with your own money, via credit card, or through a loan from a friend or family member.

You might need to decide whether to register as a sole proprietorship, partnership, LLC, corporation, etc., based on legal and tax implications. You will want to set up your business bank account under this entity. A simple route for IADs is to create a sole proprietorship or an LLC and get a fictitious business name, a “doing business as” (DBA), to avoid conducting business under your own name.

7. What technology and tools do I need?

Operating your ATM machine will require some technology and tools. Some are nice-to-have and others are need-to-have. For example, the installation will require certain drills and bits. But you don’t have to handle the installation yourself. If you hire this part out, you don’t have to worry about procuring the installation tools.

Technology that is nice-to-have might include cameras for surveillance or a wireless router to avoid relying on a location’s unpredictable internet service provider. 

Technology that is need-to-have is remote online monitoring. You will want to be able to track your ATM activity from anywhere 24/7. This will help you keep your assets safe as well as keep your machine up and running without any lapses in service.

8. How will I handle day-to-day operations?

Just like you can choose what role you want to play in the ATM industry (IAD, vaulter, technician, etc.), you can choose which aspects of your business to handle and which to hire out. It depends on your level of comfort, how much time you have/want to invest in your business, and how much profit you want to make. 

For example, you can hire someone to vault your machine for you, or you can do it yourself. Just weigh the costs of hiring someone else against the amount you are willing to “pay yourself” for taking the time to handle that aspect of the business.

9. What is my unique value proposition?

This question requires you to identify what sets your business apart from competitors and why customers should choose you. Now, as an ATM owner, there are two ways to look at this:

First, you want to consider the value you offer to the location where you will place your machine. Will your ATM bring in new business? Will it add a much needed service to existing customers? How will the location financially benefit from having an ATM on the premises? These are questions to ask when starting a business so that you know how to approach location owners with a proposal to place an ATM machine on-site.

Second, you want to consider the ATM users. Why should passersby use your machine rather than one a couple of blocks down or at the bank? Can you offer better security? A competitive surcharge fee? Coupons? Superior customer service? Ask yourself these questions, and then do it.

10. How will I handle customer service?

Again, you have two angles to consider here:

How will you ensure that the location owner does not have any problems working with your or your machine? Will you be available to handle any unexpected issues? Do you have a partner or someone you trust to act in your stead if you have to be away? How quickly will you be able to address any problems?

Do you have a process in place for handling customer complaints? What happens if there is a discrepancy with a withdrawal? What if there is a security concern? Is it clear who users should contact and how? Answering these questions early on will save time and money later.

11. What is my pricing strategy?

Really, as an IAD, the only pricing you need to worry about is the surcharge fee. You want your surcharge fee to be low enough to encourage transactions but high enough that you make a decent ROI and profit. There are a number of factors to consider when setting your surcharge fee including any preferences of the location owner and revenue share. 

Remember that your surcharge fee can change, too. You might start low to encourage traffic and then raise it once it’s steady. Or you might start high to reach your ROI quicker. Monitor the activity and trends and adjust the surcharge fee accordingly to find the “sweet spot” that satisfies both the customers and your own business goals.

12. What is my marketing strategy?

When you have your ATM installed and ready to go, you’ll want to think about advertising it. People can’t use your ATM if they don’t know it exists. So how will you encourage transactions? Thinking about this early can help you get a head start and budget extra features into your startup costs. 

For example, you might want to invest in a topper for your ATM machine, custom graphics, and/or a light-up ATM sign for the location window. Speak with the location owner as well to see about offering coupons to encourage transactions and increase in-store sales.

13. What is my growth strategy?

Depending on your business goals, you may or may not plan to grow your business. However, if you do, you will want to think about your growth strategy early to better manage your expectations and work toward that goal purposefully.

You could grow your business by offering additional services (vaulting, placement, technical support, etc.) or by adding more machines to your route. There is nothing wrong with managing just one machine. But the more machines you operate, the more profit you will earn.

14. How will I measure success?

It’s important to set goals for yourself in any endeavor, especially in business. Otherwise, how will you be motivated to keep going? Make a list of SMART goals so that you always know what success looks like, how to achieve it, and how to measure it. Then, you can make adjustments along the way as your business improves, you learn more, and your financial and other goals evolve.

15. What are the potential risks and how will I mitigate them?

Finally, one of the most important questions to ask when starting a business is how to mitigate potential risks. Predicting and planning for risks early not only helps to minimize disasters but also helps overcome obstacles that might be standing in your way of taking the next step. 

Having a plan for the worst case scenario can help put your mind at ease knowing that there’s nothing you can’t handle. Whether it’s a technical problem, a security issue, or a breach of contract, document a procedure you can use to address it. There’s a good chance you’ll never have to, but it’ll be worth it for peace of mind.   

Conclusion

Hopefully this extensive list of questions to ask yourself when starting a business makes the journey smoother for you. We’ve tried to think of everything so that you don’t have to. You don’t have to have any specialized knowledge or training to start an ATM business. But we know that not knowing what to expect can keep many people from taking that first step. And encountering unexpected barriers along the way can keep them from taking the next step.

If you work with ATMDepot, you will receive all of the support you need from choosing the right equipment to negotiating placements to ongoing technical support and business advice. What are you waiting for? Get your ATM business start-up kit today!

7 Top ATM Business Training Programs

by

ATM business training isn’t a requirement of starting an ATM business. But it sure can help! One of the many great things about starting an ATM business is that anyone can do it. You don’t need any specific certification, education, or training. However, if you want to save yourself time and money that avoidable mistakes can cost you, it might be worth it to invest in an ATM business training program so that you can start making money fast.

Now, we know you have a lot of options when it comes to ATM business training programs. And that can be overwhelming, especially with so many scam websites out there. 

So, to help, we’ve compiled this list of 7 top ATM business training programs that come up with a basic internet search to help you determine which program is right for you.

Insure ATM – ATM (Online) Training

Insure ATM Global Distribution and Services offers an online training program for ATM technicians. This training material won’t walk you through the ins and outs of starting an ATM business as an independent ATM deployer (IAD). Instead, this training program is designed for ATM business owners who employ a workforce of ATM technicians. They promise a comprehensive training solution customized to fit the needs of your technicians.

Their training classes are all entry-level and concern the use of ATMs and their installation, removal, upgrading, servicing, and repair. Insure ATM is a global supplier of original spare parts of the world’s major ATM brands with significant experience and keen understanding of the industry and a multilingual sales team. 

However, they are based out of the Netherlands which might create a barrier for US-based ATM owners. Furthermore, their training only covers ATM-machines and parts of the latest types of NCR and Diebold Nixdorf which are not the most common independent ATM models in the US. 

ATMMachines.com: Start Your Own ATM Business Empire

National ATM Wholesale offers an ATM business online course that promises to help you build a six-figure income without any capital or credit. Founder Justin Gilmore is proof that you can start an ATM business without a specific background in ATMs or sales, a high school diploma, or even money. 

Their ATM business training course covers everything for starting an ATM business from ATM placement to branding to value-added services. They warn that this is not a “get rich quick” scheme, emphasizing the value of hard work and dedication to the training and the business. What’s more is they offer a full refund after your first placement to help motivate you to see it through to the end!

Udemy

There are a number of different courses available to you on Udemy. The biggest concern here is that basically anyone can publish a course on this site, so it’s hard to tell the quality of the information before you spend your money. 

The publishers of courses like “The ATM Machine Business Crash Course,” “How to Start A Successful ATM Machine Business,” and “How To Get Started In The ATM Business- Complete Blueprint” are individuals rather than full-fledged companies. That means that they will not offer ongoing support, equipment, contracts and documentation, or online monitoring. You will have to get all of that from a separate ATM processing company and/or vendor.

Now, because of this, these ATM business training courses will be among the cheapest you’ll find, ranging from about $29.99-$64.99. This price corresponds to the amount of information you’ll receive: 30 minutes – 2.5 hours of videos, 1 article, and a few downloadable documents. And honestly, you can find a lot of basic information online for free whether in blog articles or by joining a Facebook group for ATM entrepreneurs and just asking questions.

ATMIA

The ATM Industry Association (ATMIA), a leading non-profit trade association that represents the entire global ATM industry, is the authority on ATM machines and operations. ATMIA serves more than 9,000 members from around 500 companies located in 70 countries spanning the entire ATM ecosphere, including financial institutions, independent ATM deployers, equipment manufacturers, processors and a variety of ATM service and value-added solution providers.

Naturally, they offer training courses and support to their members. However, rather than focus on helping IADs start an ATM business from the ground up, their business training courses are more specific. For example, they offer separate training for vault managers, first line maintenance (FLM) technicians, operations supervisors, and customer service representatives. There is also a security training course. 

ATMGurus

ATMGurus offer hands-on, in-field repair ATM training. Again, their training is specific to servicing most retail ATMs rather than becoming an IAD. Furthermore, their training is on-site, not online. While their training facility is located in Long Beach, Mississippi, they do offer to travel to you. So if you are in the area looking for hands-on FLM training, this could be beneficial for you.

If you want to become an ATM technician, you can check out their comprehensive retail ATM training program. Or, if you’d like to become well-versed in servicing your own Hyosung, Genmega, or other model, you can check out those specifically curated classes. They also encourage you to request any particular training you might be looking for and are struggling to find.

ATM Freedom University

ATM Freedom University promises to unlock a reliable stream of passive income every year with their ATM Business Partnership Program. They will build out your entire ATM business from the locations to the ATMs to full certification. And they guarantee your first placement in 90 days or your money back. 

Their exclusive training will show you how to build out a profitable ATM business from scratch…if you’re an investor or business owner with at least $10,000 in investment capital…. This training is not for the average Joe looking to start learning the ATM business one machine at a time. Instead, it’s for someone with enough money to invest in a number of machines right away. So if you don’t have a lot of start-up cash, this ATM business training is not for you.

ATMDepot.com: ATM Business Roadmap 

ATMDepot.com offers a complete roadmap to financial success by showing you how to start an ATM business. This ATM business training will help you start your business as an IAD with live support available every step of the way. ATMDepot.com is an ATM processing company, so you can purchase equipment, process transactions, use their online monitoring system, and receive ongoing support throughout the course of your training and beyond. 

While other training programs claim to be comprehensive, ATMDepot.com’s ATM Business Roadmap takes you through the start-up process taking complete beginners with no knowledge of the ATM industry to purchasing and placing their first machine. But the ATM business training doesn’t stop there. 

You can continue to grow your business by adding more machines to your business, revisiting the roadmap as necessary. ATMDepot.com will provide you with all of the tools and resources you need, answering all of your questions along the way. You’ll have lifetime access to a community of ATM business moguls who have your back.

The ATM Business Roadmap Training System is given by ATMDepot.com founder himself, Noah Wieder, who has been in the business for 30 years. He’s seen it all and therefore can help you avoid costly mistakes so that your ATM business venture goes as smoothly as possible. 

The ATM Business Roadmap is suited for both those looking to get started with one machine and earn a little extra spending money and those looking to scale up to 12 – 24 machines and make a couple grand each month. This makes this business training program not only comprehensive but also universal.

Not sure? Try it out and get a full refund within 30 days of purchase or after the first three modules (a dozen lessons!) if it isn’t right for you.

Give Yourself the Gift of Financial Freedom

Whichever route you decide to take, the new year is right around the corner. There is no better time to start looking into ways to get out of your dead-end job and just finding your next stream of income.

As you reflect on the past year, think about whether or not what you’ve been doing is working for you. If it isn’t, it might be time for a change. Ask yourself: Am I a talker, a dreamer, or a doer? This year, be a doer. Go into business for yourself where you call the shots and make money while you sleep, travel, and pursue other hobbies. 

For these reasons and more, an ATM business is the ultimate side hustle. What are you waiting for?

7 Reasons to Start an ATM Side Gig

by

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!