Tag Archive for: atm business

ATM Cash Machine Business vs. Vending Machine: Which Is a Better Side Hustle?

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An ATM cash machine business and a vending machine business are two side hustle options that can earn you a semi-passive income. So which one is better? 

At the end of the day, it is up to you and your personal goals, experience, and comfortability that will affect your decision. However an ATM cash machine business can be a simpler venture in many ways. Here, we’ll provide you with a side-by-side look at some considerations of each.

Why Are ATM Cash Machine Business and Vending Machine Business Good Side Hustles?

An ATM cash machine business and a vending machine business are similar in many ways. Both businesses involve the purchase, placement, operation, and maintenance of one or more machines. 

Compared to traditional retail businesses, ATM cash machines and vending machines typically have lower overhead costs. There is no storefront rent, utilities, or a large staff; just the equipment and product.

The success of each is dependent on the quality of the location. Finding a quality location requires research into the target demographic, market gaps, and amount of foot traffic.

Since there is no storefront rent, both businesses, therefore, require placement negotiations. You will have to partner with other business or location owners or renters by appealing to them with the extra service you can offer to their customers.

Additionally, both businesses offer semi-passive income. This means that you can be making money while you do other things: work another job, pursue hobbies, sleep…. But you will still have to monitor the activity on your machine, making sure it’s stocked, operational, and generating revenue.

Then, of course, there is ongoing maintenance for both. You might have to troubleshoot error codes, handle customer complaints, make sure the machine is clean and presentable, and address any tampering, vandalism, or damage.

However, while both an ATM cash machine business and a vending machine business involve automated transactions and generate revenue through user interactions, there are several important differences between the two.

Key Differences Between ATM Cash Machine Business and Vending Machine Business

Product Offering

The most obvious difference between an ATM cash machine business and a vending machine business is the product offering. One offers convenient access to cash while the other offers food and beverage. 

A vending machine business generates revenue based on the sale of the products it offers. An ATM cash machine generates revenue from a service fee, or a surcharge. Customers pay for access to the service, but they essentially receive that which already belongs to them. An ATM doesn’t sell anything per se.

An ATM cash machine business is simpler in this respect. The only “product” you work with is cash. The only metrics you need to monitor are how much cash is needed and at what times. This allows you to ensure that your ATM machine has enough cash to meet the demand during the times of highest need (maybe weekends, holidays, local events, etc.). 

There are a lot more factors to consider with a vending machine. For example, will you offer snacks or drinks? How much of a variety will you offer? Which product(s) sell more frequently than others? You need to strategically select and monitor the products that appeal most to your target demographic.

The same is true of an ATM cash machine business but on a much more limited scale. For example, most ATM machines offer a single denomination (20s), though you can opt for two denominations.

But that’s pretty much it. With an ATM cash machine business, your biggest stocking concerns are which denominations to offer and when the busiest cash-demand times of the month are.

Market and Placement

While product offering is limited to an ATM cash machine business, the placement options are more diverse. And that’s a good thing.

Vending machines are commonly placed in offices, schools, hospitals, gyms, and other public spaces. ATM cash machines, however, succeed wherever there is a need for cash. 

Vending machines typically require locations where large numbers of people congregate for a long duration of time. ATM cash machines do well in similar locations, like shopping centers, bars, and casinos. But they also do well in areas where people are simply passing by, like markets, convenience stores, and parking lots. 

ATM cash machines are also more versatile in that they can be placed indoors or outdoors. This offers 24/7 access to your service which allows you to make more money. 

Finally, ATM cash machines can be easier to place than vending machines. First of all, you aren’t limited to large venues that necessitate vending machines. You can appeal to salons, restaurants, and other small businesses which expands your options. 

And, business owners are motivated to add an ATM cash machine to their location for the benefits they’ll see in return. The added service can bring in more traffic, increase sales, and encourage cash payments which saves the company money on credit card transaction fees.

So while both businesses rely on placement negotiations with other businesses, the process and options vary greatly.

Regulatory Compliance

Just like any other business, an ATM cash machine business and vending machine business will have to comply with industry regulations. 

Operating a vending machine business may require adherence to various regulations and permits, depending on the location and types of products sold. Ensuring compliance with health, safety, and licensing requirements can add complexity and administrative burden.

ATM cash machines must meet regulation guidelines according to the Americans with Disabilities Act (ADA). But new machines are already designed to meet these requirements, so most of that burden is off your shoulders! All you need to do is make sure there is a clear path to the machine and that all functions are accessible.

Conclusion

While both vending machine and ATM businesses offer opportunities for generating passive income through automated transactions, they involve different products/services, target audiences, revenue models, and operational considerations. Carefully evaluate these factors to determine which type of business aligns best with your goals, resources, and risk tolerance.

An ATM cash machine business is simpler than a vending machine business in many ways which can make it a better side hustle. And what’s more is there is a risk-free training program available to you to get started in the ATM business from the ground up. 

If you want to start making money while you sleep, find out everything you need to know from ATMDepot.com’s own CEO and founder, Noah Weider with the ATM Business Road Map. With the right information, tips, and support, starting an ATM business has never been easier. Get started today!

7 Benefits of Getting an ATM Business Mentor

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A business mentor is a valuable resource in any industry. Having a mentor provides you with access to years of experience you don’t already have if you are just getting started. When starting a business, you don’t have to reinvent the wheel. Learn from others’ mistakes, repeat what works, and be humble enough to ask for help and admit when you don’t know something. Otherwise, your path to success will likely be a long and rocky one.

An ATM business is no different. Any business mentor will be able to give you business advice to a certain extent. There are some ins and outs that all businesses share. But a business mentor with specific ATM industry experience is a rare find. 

If you’re interested in generating passive income with an ATM business, you’re in the right place. In this article, you’ll find out all of the value an ATM business mentor can provide as well as how to get access to your own ATM business mentor who will be by your side every step of the way.

1. Get Answers to Your Questions  

One of the obvious benefits of an ATM business mentor is having someone to answer all of your questions. Yes, you can find answers to your questions from a variety of sources. But how long will that take? 

You might not find an answer that applies to your unique situation. You might come across outdated or incorrect information. And if you enlist the help of other individuals, you are at the mercy of their busy schedules.

Basically, having a dedicated ATM business mentor provides you with timely, reliable answers to your questions. You will rarely, if ever, have to spend time interpreting and discerning the different opinions you will get from a basic internet search or forum.

2. Avoid Mistakes

Plus, you don’t know what you don’t know. Without an ATM business mentor, how do you know whether or not you’re asking the right questions? Some of your questions might only arise after a mistake has been made and needs to be fixed. 

Without an ATM business mentor, you will make common mistakes that are easily avoidable. What you need is someone to give you a heads up! A good business mentor knows what you should do, but also what you should not do. This can save you time, money, and unnecessary stress.

3. Get Started Faster

There is a lot to do when starting an ATM business. You have to complete all of the necessary paperwork, get a business bank account set up, establish a location, purchase equipment…. That’s a lot of steps and a lot of new territory to navigate. 

But do you know what happens when you work with an ATM business mentor? You get started faster! Given your financial circumstances, how soon do you need to start making revenue? The longer it takes you to get started, the longer it will take to start making money.

Working with an ATM business mentor can help streamline the process. It can also help keep you accountable. That way, if you start to feel lost or overwhelmed, you’re less likely to abandon the idea altogether. So rather than waste time and resources trying to go it alone, invest in an ATM business mentor to increase your chances of success.

4. Make More Money

The sooner you get started, the sooner you can start making money! You will also save money by avoiding simple mistakes. The less money you have to put into your business, the more you get to put in your pocket.

And the smoother your business runs, the better your service will be. This will earn you more contracts, more customers, and before you know it, you’ll be making a steady flow of passive income.

5. Receive Ongoing Support

It’s important to remember that once your business is up and running, your questions and learning won’t stop there. Parents don’t send their kids off into the world once they learn to walk; there’s years of development in between.

Having an ATM business mentor ensures that you aren’t alone in your business once you’re operational. When extenuating circumstances arise, you will still want someone there to guide you through your situation. 

Your business will change over time, too. You might want to adjust the role you play in your business. You might want to scale your business. These changes will be easier and smoother with an established ATM business mentor who can help you make the best decision for you based on your unique situation and goals.

6. Borrow Authority

It can be difficult to gain clients and customers without any previous experience. Many people fall victim to imposter syndrome, wondering how they can assure people that they are serious, dedicated, and professional without any proof to back it up. 

This is where borrowing authority comes in handy. If you can align yourself with someone who is well-established, people will feel more comfortable with you and will take you more seriously. It also proves that you have access to the knowledge, tools, and resources you’ll need to do a good job. 

Aligning yourself with someone who has years of experience provides you with access to more and better networking opportunities, too. If you are ever in a position where you need to connect with other industry professionals, your ATM business mentor will know just where to look and who to call. They can introduce you to valuable contacts, potential clients, or partners, which can open doors for your business.

7. Try the Business Risk-Free

Finally, working with an ATM business mentor can allow you to explore various aspects of the business before jumping right in. This way, you can determine whether or not an ATM business is right for you before you get started. 

There are some questions you will have and things you will want to know before you invest your time and money. If you take advantage of the ATM Business Road Map, for example, you get access to mentorship from ATMDepot.com’s own founder and CEO, Noah Weider, with a 30-day money-back guarantee.

That means that if after 30 days (or 3 out of the 9 modules) you don’t think the ATM business or mentorship is right for you, then you haven’t lost anything!

Conclusion

Overall, having a business mentor can accelerate your learning curve, increase your chances of success, and provide invaluable support throughout your entrepreneurial journey. You don’t have to look any further for an ATM business mentor. The ATM Business Road Map has everything you need to get you started in the ATM business plus ongoing support throughout your business journey.

If you are looking for an ATM business mentor, Noah Weider is a trusted name in the industry with years of experience behind him. He is motivated by the growing need for successful local ATM business owners and operators who know what they’re doing. If you’d like to generate a couple grand a month in residual income, you can get started today!

Is There a Business Training Program on How to Start an ATM Business?

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If you are looking for a business training program on how to start an ATM business, look no further. Now, you can get ATM business training, mentorship, equipment, and processing all in one place. 

A good ATM business training program doesn’t just provide you with a set of steps and instructions. It also provides a wealth of resources and ongoing support, all from someone who’s been there and seen it all.

That business training program exists, and it’s the ATM Business Road Map. Created by ATMDepot.com founder and CEO Noah Wieder, the ATM Business Road Map allows you to start your ATM business today with tools, resources, and instructions you can reference as you go. 

A road map doesn’t provide one direction at a time. It shows the route from beginning to end with all of the turns along the way. You can see where you’re at, where you’re going, and all of the places you might need to stop (fuel, food, rest, etc.) as you travel. 

Similarly, the ATM Business Road Map provides you with the information you need as you need it. With Noah Wieder as your navigator, you can be confident that you will get from point A to point B without getting lost.

What Does an ATM Business Training Program Include?

There are a few topics you should expect from a good ATM business training program, most of which are based on frequently asked questions. For example:

Market Research and Placement

You will want to know how to gauge the market in your particular area. What should you look for when it comes to scoping out a location for an ATM machine? How can you be sure that a location will be successful for your ATM? How can you negotiate a place to operate your ATM from? Who is your competition and how can you keep up?

Business Setup and Documentation

You will also need to know how to navigate legal and regulatory requirements. How will you establish your business? What’s the best way to set up a business bank account? What documentation will you need? 

Business Model and Goals

There is a lot of room for customization with an ATM business. What do you want yours to look like? What are your goals? Which skills, resources, and assets do you already have and which ones do you need? 

Equipment and Installation

Then you need to choose your equipment. Which machine is best? Which one is best for you? Should you purchase any upgrades? Right away or after you start generating revenue? What does installation and programming look like? Will you install the machine yourself or hire it out?

Maintenance and Monitoring

Once you have your equipment, you need to consider ongoing maintenance. What will this include? What tools and resources will you need? How much cash should you load? Where do you get the cash? Who will be responsible for loading the cash in the machine? How will you monitor the activity on your machine? How will you handle customer service?

Marketing and Customer Acquisition

And, the most important questions might be about getting customers. Who are your customers? How will you attract customers to your ATM machine? What do customers in your area need and want from an ATM service? How can you provide it? 

You’ll be able to answer all of these questions and more, confidently, with the help of the ATM Business Road Map.

ATM Business Road Map Training Program

“I’ve been around the block, and I’ve seen it all,” says Wieder. “But there’s one business model that stands out like a diamond in the rough – the ATM business.” 

The goal of the ATM Business Road Map is to help you generate a steady flow of passive income from one or more ATM machines. If you want to

  • Call the shots
  • Be your own boss
  • Earn passive income
  • Achieve financial security
  • Quit your day job
  • Spend more time with friends, family, and hobbies

then it’s time to get your ATM Business Road Map.  

This program wasn’t designed to be something you take once and never return to. It was created as a resource you can come back to time and again as you progress through different stages in your business. The program includes over 50 video lesson modules and hundreds of pages of resource material. To ensure your success, simply follow the road map.

Meet Your Mentor: Noah Wieder

From Zero…

Noah Wieder has been in the ATM business for 30 over years. Before he got started in the ATM industry, he was hustling. After graduating from college, he moved from upstate New York to San Diego, California with everything he could fit into his van—and with no job lined up.

He worked in the merchant processing industry until he became the first employee of U.S. ATM and one of the first Tidel ATM technicians. He later founded XtraCash ATM for the National Bankcard Association, Inc. and was among the first five people invited to join the very first Triton ATM Advisory Committee. 

Wieder has been training ATM entrepreneurs since the late ‘90s when he held quarterly business opportunity training seminars. 

He installed ATMs in 190 San Diego-area McDonald’s locations, helped coin the term “McMoney,” and installed over 5,000 ATMs nationwide over the span of 5 years.

Wieder worked for 2 years as the V.P. of ATM Sales & Marketing for CIBC before setting off on his own and starting ATMDepot.com in 2002. He grew the business slowly, solely from cash flow, and barely made enough to buy a cup of coffee with his first residual check. 

…To Hero

Today, ATMDepot.com is debt-free, manages over 3,500 ATMs, and has nearly 2,000 independent ATM deployers (IADs) as clients who receive education, training, sales, service, and support.

There’s a reason Wieder has worked in the ATM industry for over 30 years: it’s the ultimate side hustle. He created the ATM Business Road Map to address the growing need for successful local ATM business owners and operators who know what they’re doing and are doing it right. 

Wieder has learned from all of the mistakes so that you don’t have to. He’s put all of that experience into one ATM business training program to help you get from wherever you are to generating a couple grand a month in residual income.

Why Choose the ATM Business Road Map Training System?

The ATM business has one of the fastest ROIs and lowest barriers of entry of any side hustle or semi-passive income stream. Simply invest in a machine, find a location, and set it up. Before you know it, your investment will pay for itself. Get a dozen machines up and running, and you’re easily making $50,000-$60,000 a year—a salary that most people would earn from grueling 40+ hour work weeks—almost passively!

You can find training programs through online courses, industry associations, or specialized consulting firms that focus on ATM business startups. But working with an experienced ATM operator provides the most valuable insights, knowledge, resources, and support.

Satisfaction Guaranteed

Still not sure if this ATM Business Road Map is right for you? Try it for 30 days with no risk! If you’re unhappy with the course for any reason, just email us within 30 days of purchase or before you start Module 4.2 for a full refund.

Plus, in addition to lifetime access to the ATM Business Road Map Training System, you’ll also receive 

  • Lifetime access to the full slide reference guide which includes all module notes, bonus modules, all terms, test your knowledge quizzes for each module, and a task list
  • Lifetime access to the digital version of Wieder’s new book, How to Start and Grow an ATM Business: The Ultimate Side Hustle
  • A full 12 months of access to the ATMDepot.com member area
  • A full 12 Months of access to the private “ATM Business Road Map – Clients Only” Facebook Group moderated by ATMDepot.com staff
  • And a Certificate of Completion (Official IAD)

This is a serious business, and you can earn serious money. But you will need to put in the initial work and avoid quitting prematurely if you aim to grow your wealth and generate a steadily increasing semi-passive income.

If you’re ready to take control of your financial future, check out the ATM Business Road Map today and unlock all the secrets of the ATM business!

9 Additional Income Ideas for Brick-and-Mortar Entrepreneurs

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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?

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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.