Tag Archive for: atm entrepreneur

The Truth About Owning ATMs as a Business “Gurus” Aren’t Telling You

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Owning ATMs as a business can be a reality for anyone. With the right information, resources, and support, you could be making semi-passive income with ATM machines if that’s something you are interested in. But just because anyone can do it doesn’t mean that everyone should.

ATM business gurus often provide valuable insights and strategies. But they can sometimes overlook or downplay certain harsh realities of the ATM business world. There are some truths they might not emphasize but that you should be aware of before getting started. Making sure you properly manage your expectations and know exactly what’s ahead is your first step to success owning ATMs as a business.

There Is No Guaranteed Formula

You will often see ATM business gurus touting the wealth and success they’ve experienced owning ATMs as a business. They want you to know exactly what worked for them so that you can follow in their footsteps. 

But what this strategy fails to consider is the fact that each person has different business goals, obstacles, strengths, and weaknesses. What works for one person might not work for the next. And what each person wants out of an ATM business will vary as well. 

There are many ways to make money in the ATM industry. And there are many ways to run an ATM business. No two business models look exactly the same. So to be successful, don’t force yourself into someone else’s formula if it isn’t working for you, regardless of the promises.

Failures Are To Be Expected

Everyone makes mistakes. Successful entrepreneurs often have multiple failures behind them. The path to success is rarely linear and is often paved with setbacks. Fortunately, by following the guidance of gurus and ATM industry experts, you can avoid a lot of major failures and setbacks by learning from the mistakes of others. 

But if you are new to owning ATMs as a business, you will have to learn from your own mistakes as you go. Simply adjust and move forward with your new knowledge. There is really no mistake you can make that can’t be remedied. And the closer you adhere to ATM industry best practices, the fewer and smaller your mistakes will be.

One of the biggest misconceptions many gurus will promote is that owning ATMs as a business will be easy. Compared to other businesses, an ATM business is quite simple. But at the end of the day, it will still require effort to get up and running smoothly. If you can’t power through the challenges, you can’t expect success.

Do Not Expect to Get Rich Quick

Really, don’t expect to get rich at all. Owning ATMs as a business is a great, low-stakes way to generate some extra semi-passive income and maybe even replace your 9-5. But don’t expect to become a millionaire….

Don’t pressure yourself to grow quickly. Prioritize sustainability over rapid growth. Rapid growth is frequently glorified, but sustainable, steady growth is often more beneficial and less risky in the long run. Take your time, study your metrics, and adjust accordingly. If you focus on the business as a whole rather than simply generating more and more revenue, your service will be better and your business will succeed in turn.

Beware of Market Saturation and Competition

Entering a saturated market or facing intense competition can make it exceedingly difficult to gain traction. Not all cities have the same need for ATM service. So success owning ATMs as a business might be dependent on where you are located and the opportunities available. 

However, just because a location has an ATM in place already does not mean that it’s off the table. If the equipment is old, run-down, or frequently out-of-order, that could be an opportunity for you to offer a shiny new ATM. If a business owns its own ATM machine but is tired of maintaining it, that could be an opportunity. Or maybe you find a business that is unhappy with their current service and is eager to work with someone new.

High traffic, high demand locations, like casinos and clubs, are difficult to break into. This is where networking comes in handy. If you already know someone who is a decision-maker at a profitable location, then your chances of operating an ATM machine there improve.

Whatever the situation, it is your job to identify a gap in the market. If you see opportunities for ATM placement in your area, you can be successful owning ATMs as a business.

Be Open to Continuous Learning and Adaptation

Owning ATMs as a business will require a certain degree of flexibility. The business environment is constantly changing. Continuous learning, adaptability, and willingness to pivot are crucial for long-term success. 

Don’t expect to learn everything. Because as soon as you do, something will change. And if you don’t keep up with the changes and dedicate yourself to learning and improving, your business will suffer.

Learning the business is not something you do once. It is an ongoing part of being a business owner and entrepreneur. Don’t neglect this work in your business.

Influencers vs. Gurus vs. Mentors vs. Experts

ATM industry gurus are not all wrong or bad. However, be warned that if it’s too good to be true, it probably is. Beware of influencers, gurus, and mentors online who are just after clout, views, and likes without really explaining how ATM business works. If you really want to know how a successful ATM business works from start to finish, take it from an expert whose success is tied to yours. 

How to Get Started Owning ATMs as a Business

Now, owning ATMs as a business is the ultimate side hustle because of its comparative simplicity, low overhead, and semi-passive revenue. But, like any business, it will come with its fair share of challenges. To be successful, you have to know your strengths and weaknesses and be able to move on from mistakes.

If you want to learn the ins and outs of owning ATMs as a business from someone who’s been in the industry for over thirty years, check out the ATM Business Road Map. What sets this training system apart from others is that it is risk-free and you don’t have to complete it before getting started!

You can use the ATM Business Road Map modules as reference material as you progress through your business journey. You have lifetime access to all training materials, so you can refer back to them any time you have a question about a particular situation.

If you are unhappy with the course or discover that owning ATMs as a business is not for you, just email us within 30 days of purchase or before you start Module 4.2 for a full refund.

Additionally, you can purchase equipment and receive processing from ATMDepot.com—everything all in one place. With this kind of information and support from experts dedicated to your success, you can confidently take the next step in owning ATMs as a business.

Get started today!

Still have questions? Contact us here.

7 Myths About Running an ATM Business in the US

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Running an ATM business is the ultimate side hustle. It offers faster ROIs, lower start-up costs, and fewer barriers than most other side gigs or passive income streams. But there are some common myths and misconceptions about running an ATM business. You might even be surprised to find out that not all ATMs are owned by banks!

What does it entail? What are the possibilities? Once you have an idea of what you can realistically expect from running an ATM business, then you can confidently make the decision to get started yourself! Don’t let the wrong impressions keep you from making a little extra money.

1. Get Rich Quick

There are ATM business gurus who will try to appeal to you with their successful business models that generate thousands of dollars a month. They did it, and so can you. 

While it is absolutely possible to generate a $50,000-$60,000 income with an ATM business, it takes hard work and dedication to get to that point. Many independent ATM deployers (IADs) start with just one ATM machine to generate some extra spending money. It isn’t until you build an entire route of ATM machines that you will start seeing thousand-dollar paydays.

So, whether you want to get started with one machine and earn a few hundred bucks each month or scale up to 12-24 machines and make five to ten grand a month to support yourself, make sure you maintain realistic expectations. You might not get rich, but with a little time and effort, you can definitely make money running an ATM business.

2. Passive Income vs. Semi-Passive Income

You might hear revenue generated from running an ATM business referred to as “passive income”. Passive income typically means that you do some work one time, and that work continues to generate revenue without any further effort. For that reason, it is more accurate to say that an ATM business generates “semi-passive” income.

Running an ATM business generates passive income in the sense that you make money while you do other things: work another job, play golf, sleep…. You make money from your ATM machine(s) without being tied to a location for hours a day. However, it is really only semi-passive because you do have to maintain your business; you don’t just put in the work one time and then forget about it.

You have to make sure your machine is always stocked with cash. You have to address any error codes, repairs, or software updates. And you should probably be regularly monitoring your ATM activity to ensure everything is always running smoothly. But remember, you can monitor activity remotely. That’s the beauty of running an ATM business!

3. You Need Business Experience or Technical Skills

Another common myth that keeps many people from getting into the ATM business is the notion that they need some sort of business experience, technical skills, or industry knowledge. And that simply isn’t the case.

These are all things that you can gain on-the-job. As an ATM business owner, you will be in business for yourself—an entrepreneur. You are the boss; you call the shots. So in that respect, yes, you do need some business acumen. But many IADs get their entrepreneurial start with their first ATM machine; no prior education or training necessary.

But what about technically operating an ATM machine? Well, if you’ve ever used one yourself, you pretty much already know how it works and what the components are. ATM machines are not complex, and each new model is designed to be more user-friendly than the previous; rapid technological advancements and a competitive market make this possible.

Then there are plenty of resources available to you. From technicians to user manuals to Facebook groups to YouTube videos, there is no shortage of information out there. Especially if you work with a reputable ATM processing company dedicated to your success, they’ll walk you through each step you need to get started.

Running an ATM business is not easy. But it is simple. It is simple enough that anyone can do it with the right resources.

4. Easy to Find Profitable Locations

Running an ATM business is not easy. It will require a little leg work. For example, you have to find a location from which to operate your ATM machine. This could be as simple as finding an old, run-down, frequently out-of-order machine and offering to replace it. Or, you might know someone already who owns a retail store and wants to offer ATM service to their customers. Or, you might just have to ask around to find an interested location.

But negotiating a placement agreement isn’t all you need to make money. You want a location that will generate a lot of business for you. So the best locations are going to be high traffic areas with high cash needs. And those aren’t always so easy to find.

Don’t be discouraged. Another benefit of running an ATM business is that if one location isn’t doing well, you can always move it or just place another one somewhere else! An ATM business offers you that flexibility.

5. Easy to Get a Bank Account

Many new ATM entrepreneurs underestimate the patience and finesse required to open an ATM business bank account. Unfortunately, it isn’t as easy as opening an average business bank account. Regularly providing an IAD with large volumes of cash presents banks with a degree of risk and extra effort.

So for a bank to open an ATM business bank account, they have to be sure it will make them money and be worth their time. Be prepared to purchase a number of products (open a line of credit, fund multiple accounts, etc.) to prove that you are a worthwhile customer. And of course, be respectful, patient, and grateful. Some banks don’t open ATM business bank accounts at all. Others might simply refuse you. Just move on and keep looking!

6. You Have to Have an LLC

This often worries a lot of new ATM entrepreneurs because they don’t want to mess with the fees associated with forming and maintaining an LLC. But the good news is that you don’t have to, and most IADs don’t. The most common way to establish your ATM business entity is as a sole proprietor with a fictitious “doing business as” (DBA) business name.

However, if you do plan to scale your business to include a route of multiple machines, an LLC might be a good idea because of the limited liability protection it offers. But if you are just starting out with one or two machines, a sole proprietorship will suffice, and you can always purchase general liability insurance if you want that peace of mind.

7. Cash Is Obsolete

Maybe the biggest myth about running an ATM business in the United States is that cash is becoming obsolete. This keeps a lot of people from investing in an ATM business because they worry about the security and longevity of it.

But while cash is currently competing with a number of digital payment methods, we will not become a cashless society any time soon. There is still too much tradition tied up in cash and there are too many benefits associated with cash payments. 

Cash allows people to budget, avoid debt, conduct business without a paper trail, and manage without a bank account. And, more and more businesses are pushing for cash payments and becoming cash only in an effort to alleviate credit card processing fees. 

So as long as there is a need for cash, there will be a need for ATM machines. And as long as there is a need for ATM machines, there are business opportunities for you.

Conclusion

Now that you know the truth about running an ATM business, hopefully you feel better prepared. There are many reasons why an ATM business is the ultimate side hustle. You can be your own boss, earn semi-passive income, and rest assured that your ATM service will always be needed!

Still not convinced that anyone can start an ATM business? Check out the ATM Business Road Map completely risk free! Take a look at the first three modules, and if it’s not for you, just email us within 30 days of purchase for a full refund.

If you are ready to start your semi-passive ultimate side hustle running an ATM business, get your ATM startup kit today!

Do You Need an LLC for ATM Business?

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Do you need an LLC for ATM business? This is a question commonly asked by new ATM entrepreneurs. It’s also asked by entrepreneurs who might have been in business for a while but are questioning whether or not they need to maintain their LLC. 

The short answer is, no; you do not need an LLC for an ATM business. You have other options. Each option has its own legal, tax, and operational considerations. Therefore, it’s important to research and consult with professionals to determine the best fit for your ATM business based on your goals, preferences, and circumstances.

Every business requires some documentation. While you don’t need a specific license to operate an ATM business, you will still need some sort of business name to complete the agreement with the ATM processor as your ATM vendor and to open a business bank account. Here, we’ll discuss what an LLC entails as well as a glimpse into some alternative options. 

What is an LLC?

LLC stands for limited liability company. It offers limited liability protection and more tax options which other alternatives do not. There are three main benefits an LLC offers.

Limited Liability Protection

One of the primary reasons for forming an LLC is to separate your personal assets from your business liabilities. If someone were to sue your ATM business, having an LLC can protect your personal assets from being at risk. This means your car, house, bank account, etc. are protected in the event your business is sued, is bankrupted, or defaults on a loan. 

There are a number of situations where you might find yourself at risk of liability. Limited liability ensures that, regardless of the outcome of the lawsuit, your personal assets are not threatened. And if you end up struggling to pay back a loan on time and accrue significant debt, your personal assets will remain safe regardless of whether your business pays back the debt as long as you didn’t personally guarantee the loan. 

Tax Considerations

Another benefit of an LLC is tax benefits and options. LLCs offer flexibility in how they’re taxed. By default, they are pass-through entities, meaning profits and losses pass through to your—the owner’s—personal tax returns. This can offer tax advantages depending on your situation. The business’s net income is then subject to income taxes (based on your tax bracket) and self-employment taxes.

A sole proprietorship or partnership is taxed in the same way, but an LLC offers the S-corporation (S-corp) option. An S-corp is an IRS tax status that an LLC can elect which allows business owners to be treated as employees of the business. This can lower self-employment taxes and will allow you to contribute pre-tax dollars to 401k or health insurance premiums.

Whether or not you think you might want this tax option depends on how much your business can/will pay you, the employee-owner. To really benefit from an S-corp, you should expect a reasonable salary of at least $10,000 in distributions a year for the work you perform.

Credibility

Finally, operating as an LLC can convey a sense of professionalism and legitimacy to potential customers, partners, and investors. This can be especially important when negotiating a placement agreement. In order for business owners to agree to share a space of their location with your ATM and to work with you, you’ll need to establish trust and credibility. 

So, do you need an LLC for ATM business? No, but it might be a good idea. It really depends on the scale of your operations, your risk tolerance, and your specific business goals. 

How Much Does an LLC Cost?

Setting up and maintaining an LLC involves some costs and administrative tasks, such as filing articles of organization, annual fees, and potentially more complex tax filings. In addition, with an S corp, your business might need to spend more on accounting, bookkeeping, and payroll services.

While the cost of starting an LLC varies by state, the average cost to form an LLC is $129, while the average annual cost to maintain one is $104. However, other optional LLC costs can range from just $35 to hundreds of dollars a year.

Formation Fees and Publication Requirements

When forming an LLC, you’ll typically need to pay a fee to the state where you’re registering your business. The fee amount varies depending on the state but can range from around $50 to several hundred dollars. 

In some states, newly formed LLCs are required to publish a notice of their formation in a local newspaper. This requirement can add several hundred dollars to the formation costs.

Registered Agent Fees

Most states require LLCs to designate a registered agent who is responsible for receiving legal documents on behalf of the LLC. You may choose to hire a registered agent service, which typically charges an annual fee ranging from $50 to $300 or more.

Operating Agreement

While not always required by law, it’s highly recommended to have an operating agreement in place for your LLC. This document outlines the ownership structure, management roles, profit distribution, and other important details of the business. You can draft the operating agreement yourself and save hundreds of dollars on hiring a lawyer for this. 

Annual Fees

Many states impose annual fees or franchise taxes on LLCs to maintain their active status. These fees can range from a nominal amount to several hundred dollars or more, depending on the state.

Business Licenses and Permits

Depending on your location and the nature of your ATM business, you may need to obtain various business licenses and permits. The costs vary widely depending on the type of licenses and permits required.

Tax Filings

LLCs are typically required to file an annual report with the state and may need to file additional tax returns depending on their tax classification (sole proprietorship, partnership, S-corp, or C-corp). You may choose to handle these filings yourself or hire an accountant, which can add to your expenses.

Ongoing Maintenance

LLCs have ongoing administrative requirements, such as holding annual meetings, maintaining accurate records, and filing necessary reports with the state. While these tasks can often be managed internally, they require time and attention.

While this sounds like a lot, it is important to remember that consulting with legal, financial, and ATM industry professionals can help you navigate the process and ensure compliance with applicable laws and regulations. The process of establishing and maintaining an LLC really depends on the complexity and scale of your business.  

Alternatives to an LLC

Sole Proprietorship

The most common way new independent ATM deployers (IADs) start their businesses is by creating a sole proprietorship and operating under a fictitious business name, or a DBA—doing business as. You will be able to open a business bank account with this as well as be able to set up the vendor relationship for your business with the ATM processor.

While an LLC automatically establishes some credibility, you can also gain this with a sole proprietorship by “borrowing” another company’s name, like your ATM processing company. Some companies will license you the right to use their name as part of your company name. This often requires additional paperwork and a fee for usage rights, but it is an option for making a good impression when you are just starting out.  

This is the simplest and most common form of business structure. In a sole proprietorship, there’s no legal distinction between the owner and the business. It is easy to set up and operate, but you have unlimited personal liability for the business’s debts and obligations. However, some common liabilities can be covered with general liability insurance.

Partnership

If you’re starting the ATM business with one or more partners, you could form a general partnership. Like a sole proprietorship, a general partnership doesn’t provide liability protection for the partners. However, there are also limited partnerships (LPs) and limited liability partnerships (LLPs) that offer some liability protection for certain partners.

Corporation (C-Corp or S-Corp)

Corporations are separate legal entities from their owners, providing limited liability protection. C-corps are taxed separately from their owners, while S-corps are pass-through entities for tax purposes, similar to LLCs. However, corporations have more formalities and administrative requirements than LLCs.

Do You Need an LLC for ATM Business?

If you want to know do you need an LLC for ATM business, think about your business goals. If you want to purchase and place multiple ATM machines and develop an extensive route, then an LLC may be worth your time and effort. 

The more machines you operate, the more you increase your business risk. The more people you work with, the more customers you serve, and the more opportunities there are for something to go wrong. If that happens, you’ll want to be protected by an LLC.

However, if you are just starting small and aren’t sure yet where your ATM entrepreneurship journey will take you, there’s not a huge need to establish an LLC. Keep it simple and start with a sole proprietorship. It’s easy, it’s common, and your business likely will have a relatively low level of risk.

If you want to know more about starting your own ATM business, check out ATMDepot.com’s ATM Business Road Map, or contact us with any questions you might have!

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!