Attract more customers, make profit on every transaction and please customers – what’s not to like about having an ATM? Read our guide for what you need to know before buying.
By Rissa Ann
Investing in an ATM (automated teller machine) is an excellent revenue source for you if you own a brick-and-mortar business. If you have the space, you can attract more customers simply by having an ATM in the store, and you can make a profit on a percentage of each transaction.
ATMs are available for purchase directly from their manufacturers or via turnkey ATM service. Turnkey solutions usually handle all aspects of the ATM itself, including cash management, service, transactions, monitoring and installation. As with most major business components, you can lease, rent or finance an ATM.
Let’s take a look at the different types of ATMs and what you should consider when it’s time to evaluate an ATM purchase for your business.
Should your business get an ATM?
If your business has hefty foot traffic (150 or more customers per day) or you find that customers regularly ask if you have one, you may want to consider buying an ATM for your business. The following business types often do well with having ATMs installed:
- Grocery stores
- Clubs and bars / nightlife establishments
- Cafes and other businesses with minimum transaction or charge amounts
- Gas stations
- Convenience stores
- Banks and credit unions
Editor’s note: Looking for an ATM for your business? Fill out the below questionnaire to have our vendor partners contact you with free information.