Tag Archive for: Side hustle

7 Reasons to Start an ATM Side Gig

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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!

The Ultimate Side Hustle Idea

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There are tons of side hustle ideas out there. However, most of them require you to consistently invest time, which is basically just getting a side hustle job. Or, you need to invest a lot of time, effort, energy—and maybe money—up front, which will pay off… Someday.

But, there’s a side hustle that gives you an almost immediate return on a relatively small investment. If you’re thinking, “buying ATM machines,” you’re right.

An ATM machine will almost immediately generate income. And, you can get great deals on used and refurbished ATM machines. So, the barrier to entry in the ATM business is low, and the ceiling is virtually non-existent. You can own as many ATMs as you want.

But, the best part is that it takes very little time to maintain and operate your ATM machines once they’re installed. This means operating ATM machines is a true side hustle that will have very little impact on your full-time job or free time. And, your ATM business could easily replace your full-time income.

Here’s what makes owning ATMs such a great side hustle to make money without giving up your evenings and weekends.

Generate Passive Income

ATM Business Passive Income Family Time

Most side hustle jobs are just that, jobs. They require a lot of time. They might pay an hourly wage. It’s a good way to make some extra money. But, it’s also a good way to end up working even when you’re not at work.

On the other hand, an ATM machine only has two major time investments:

  1. The time it takes to install your ATM.
  2. The time it takes to fill your ATM with cash.

Other than that, your ATM machine sits and makes you money without your help. The time investment in operating an ATM is low enough that you can easily run multiple AT machines without hiring anyone (or giving up your social life).

With enough ATM machines—and not even that many—you could easily add a second full-time income stream without quitting your full-time job.

Learn New Skills

If you’re considering a side hustle, acquiring new skills can often be beneficial, particularly if you’re aiming to diversify your income streams or transition into a new career.

Owning ATMs does introduce you to new skills, albeit straightforward ones. Certainly, you’ll need to understand the basics of setting up and installing an ATM. While this might sound daunting, it’s pretty straightforward once you’ve learned the ins and outs.

There is a training system designed to efficiently guide you through this process, ensuring you can learn these skills quickly and effectively — it’s the ATM Business Road Map training system. We like to call it an ATMDepot Academy.

In contrast to many other skills that can take months or years to master and additional time to gain the necessary experience for a substantial income, learning how to operate ATMs is much more time-efficient.

This efficiency means you can start generating income sooner, making it an attractive option for those looking to establish a new income stream quickly.

Incredibly Simple Business Operation

There’s real estate, affiliate marketing, funnel building, and other businesses that are marketed as amazing side hustles or primary income streams.

However, all of these are deeply involved businesses.

You Can Start an ATM Business Today!

You have to find houses to flip, and fix them up to make them saleable. Or you have to build an audience to get enough traffic for your affiliate offers. And, you can’t make money with a funnel if you don’t have a product to sell.

The reality is that these side hustles aren’t really side hustles at all. They’re full-time jobs.

In contrast, all you have to do in the ATM business is buy an ATM, find a location, and install it. The ATM company handles the backend business operation. All the payments, reporting, processing, and other business operations are off your plate.

All you have to do is make sure your ATM has cash in it, and watch the transaction fees roll in.

Low Upfront Investment

Let’s talk about the cost of an ATM.

An ATM machine costs a rough average of $2,548. Keep in mind, that’s the average price. You can get ATMs for much less. We’re using the average for the sake of comparison.

You’ll also need around $2000 in cash to stock your ATM with $20 bills. The total to setup an ATM and start making transactions is about $4,548.

$4,548 might sound like a hefty investment. But, the cost of the ATM is a one-time expense. You can use the same $2000 for restocking your ATM. It’s cash you need on hand, not a direct expense.

$4,548 is actually quite modest when you compare it to the upfront costs of other side hustles:

It’s much less than the cost of buying a house to flip (and far less risky).

More affordable than all the months of paying rent and living expenses without your side hustle income while you learn something like coding or build your affiliate marketing audience.

Lower long-term cost than the overhead expenses of subscription services like ClickFunnels, which eat into your profits, and actually add up over time to far more than the cost of an ATM.

The only reason the initial cost of an ATM seems high is because you may have to pay it in a lump sum. But, it’s a much more affordable investment than many other side hustle businesses. It comes with no persistent overhead costs. And, buying an ATM costs you almost no time.

No-Risk Income

Last, but not least, is the risk. All side hustles involve some risk. Even if you’re just going to a side hustle school to learn a new skill, there’s a risk that you won’t be able to find work using that skill. Think of all the college graduates who never use their degree. The same rules apply to learning side hustle skills.

Investment side hustles like real estate and investing carry even more risk because there’s no way to guarantee a return on your money. Stocks tank. Houses sit on the market for months or years.

But, an ATM machine reliably generates income (unless you hide it in a dark alley, behind a dumpster or something like that).

It’s true that some locations get more traffic and more transactions than others. But, if you put an ATM where people can see it, they’ll use it. And, you get 100% of the transaction fees.

Cash still accounts for 30% of all transactions, and 55% of transactions under $10. And, $10 transactions are exactly what you want, since most people will get a $20 out of an ATM for a $10 purchase, which means you get more transaction fees without having to refill your ATM as often.

The No Hustle Side HustleEarning Money from Passive Income ATM Business

Side hustles are a great way to earn some extra income. But, most side hustles just turn your spare time into extra cash.

With an ATM machine, you dependably turn cash into more cash. Just get an ATM. Install it. And start generating income. You could do it over a weekend.

No, you won’t get rich quick. But no side hustle is intended to make you rich fast. It’s about creating reliable long-term income. And that’s exactly what owning an ATM does for you.

Key Takeaway

So, if you are dreaming of shaking off the 9-to-5 routine and diving into a side hustle that’s both rewarding and manageable, the ATM business might just be the perfect fit for you! 

It’s a fantastic way to build a steady, semi-passive income while being your own boss, and it’s especially suited for those who are in it for the long haul, not just a quick cash grab.

Noah Wieder, CEO of ATMDepot.com, has put together an amazing ATM Business training system. With over 30 years of experience in the field, he’s the go-to guy for learning all the ins and outs of the ATM world. His training program is super helpful, guiding you through the basics and beyond, and making sure you avoid the typical newbie mistakes.

What’s really great about Noah’s approach is that he keeps it real. You know those online “gurus” who promise you the moon with minimal effort? Well, Noah’s not about that life. He’s here to give you the straight scoop, no fluff or unrealistic expectations.

So, if you’re seriously considering a side hustle that’s not just about making quick money but building a solid, long-term income, the ATM business could be your golden ticket. It’s not a get-rich-quick scheme, but with the right training, just like the ATM Business Road Map, and a bit of dedication, you can definitely pave your way to financial freedom.