How to decide if an ATM Machine is Right for Your Business

Purchasing an ATM has its own sets of benefits. It’s a great way to increase income, boost sales, and attract new customers to the business. However, not all companies can use the same type of ATMs for their companies or enjoy the same kind of income from it. You need to consider the following before you search atm machine for sale.

Answer a Few Basic Questions – You may expect to make a lot of money by installing a machine in your store, but it is not as easy as it seems.

You need to consider the foot traffic to your store along with the tie you will need to manage your business before you purchase an ATM. You need to calculate the value you will be getting by asking a few questions to yourself. Some of them are –

  • How are any cash-only services near your store?
  • Are there several other ATMs close by?
  • How many businesses near your store has ATM in their location?
  • Do the customers earn offers for paying by cards and any others?
  • How often will you need to restock the cash?

Choose from Different Types of ATM Machines – Now that you have determined that you will get enough traffic to your store and an ATM is worth it, you need to look at the features of ATMs. The top features to look for are screen size, aesthetic appeal, lock type, vault type, note system, language support, and others, depending on your needs. You need to consider the price of the machine before deciding on the one.

Choose the Perfect ATM Business Model – You need to pick an ATM business model that would work correctly for you. Generally, there are three models for you to consider – buy, lease, ATM placement.

  • Buy – Once you buy an ATM, you no longer have any ongoing costs. You can also put the ATM on sale when you no longer need it. However, the initial cost would be much higher, and you will need to pay for the maintenance and repairs to the ATM technicians once the warranty period is over.
  • Lease – When you lease an ATM, the initial cost is less, and the maintenance cost is included in the plan that you choose. If you want to exit the lease before the expiry date, you might be charged a fee. Also, the cost of the leasing is a little higher than buying but is spread across many months so you will not feel the pressure.
  • ATM Placement – Placement is the easiest and the fastest way to get you set up and running. The thing you have to work on is to convince the placement company about how much business you will be able to provide to them. You will also be required to maintain a minimum amount of usage.

Considering all the points mentioned above, you need to decide if an ATM in your business premises makes sense. Once you have decided, you need to look for an ATM dealer that is reputed and offers excellent services to their customers to minimize downtime and maximize your income.