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Still make Money with ATM's?


KPHudson

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Hit up Blueplate. He is our resident ATM operator. He's told me he's making money hand over fist. Last I heard, he was the largest ATM operator here in our region. He probably makes money off of me everyday.

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  • 5 weeks later...

I will let you know. I embarking on it now. Its a numbers game. Blueplate is a world of knowledge when it come to ATM. He helped me out with an issue with my bank. Im in Orlando metropolitan area. Its a saturated business, but it seems success in it depends on what youre willing to put in financially and what you expect back.

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  • 4 months later...

if you can place a few in strip clubs,topless bars,and even dive bars you can quit your day job!

they charge any where from $5-$12 per single transaction and the bank will hit its client for another few bucks,i have personally never used one cause i am a cheap golpher and work to hard for my money as well as always carry spare cash in case i need it.

but i see suckers line up at the high priced ATM's all night, my buddies included,on a busy night i will see an average of more than 10 transactions per hour.

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if you can place a few in strip clubs,topless bars,and even dive bars you can quit your day job!

they charge any where from $5-$12 per single transaction and the bank will hit its client for another few bucks,i have personally never used one cause i am a cheap golpher and work to hard for my money as well as always carry spare cash in case i need it.

but i see suckers line up at the high priced ATM's all night, my buddies included,on a busy night i will see an average of more than 10 transactions per hour.

So how long do you hang out at "strip clubs, topless bars, and even dive bars" in order to calculate that "more than 10 transactions per hour" average?

All in the name of research, right? :rolleyes:

Just messing with you...

Seriously though, do you have ATM's llcoolrobb?

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So how long do you hang out at "strip clubs, topless bars, and even dive bars" in order to calculate that "more than 10 transactions per hour" average?

All in the name of research, right? :rolleyes:

Just messing with you...

Seriously though, do you have ATM's llcoolrobb?

no,but i should,but all the best locations are already taken!

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I looked at ATM's a while back as all my friends it seemed where getting into them.. I decided not too, because i couldn't see where it was better than other types of vending i could put my money into..and plus i was manufacturing pushers and no ROI could touch what i was getting there as i was getting mine made at costs..

but here where my questions... If you have a location,say a c store and it does 100 transactions a month at 3 bucks each, you get 2.50, location gets .50 and then you get back end "interchange" money of .25.. so 2.75 profit each transaction..

each transaction averages out to 60 bucks so you have 6000 in vault cash plus 2000 for ATM invested in that location..so 8k total investment(this is where argument insues) you never recoup that 6000 because it always has to be there,,you can't say you only have 2000 invested because that 6000 is always tied up and can't be used for other things,yes its still yours but not available to you so it has to be counted as investment money..

so 8K at 275 a month is more than 3 years ROI... Ive heard "Well you don't have to use 6K for vault, just service it every week and use 2K for vault" etc.. Im sure its a money making biz but it just seemed like you would always be spinning your wheels and never making money until you sell out.. This is of course coming from a amusement and bulk vendor who looks at anything over 10 months ROI as taboo.

all i can say is make sure you do research,,if the guy offering you your processing doesn't tell you about the "interchange" or offers you a nickel or a dime then he really isn't a processor but trying to position himself as a middleman and make part of your interchange money every transaction. demand a quarter each transaction,the processor normally gets 50 so they can do this...this will pee a lot of guys off letting a potential new guy in on this but i think its crooked so i will tell...I TELL EVERYTHING I KNOW!! and that is why i get so much flak from a lot of guys.. B)

there are honest guys out there who won't try to rob you on processing but a lot of middle men trying to cash in on a few nickels a month from new guys..I think the best route to go would be to let location service ATM and you take a buck per transaction(plus the interchange) and let them load the cash and you just provide service if it needs it..

ron

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I have been very interested in the ATM business as of late. I was actually close to purchasing a route for 52k for 8 machines but it turned out it was being sold by the franchise of AFCN and they wanted a 25k franchising fee.

I have found so many great locations but not really sure how to get started. I talked to the owner of a hotel who said yes, whenever I was ready. Can anyone give me the step by step?

I have the money to buy the machine.

Do I have to buy a modem?

When do I find a processor? and How do you know which is best?

Other tips?

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each transaction averages out to 60 bucks so you have 6000 in vault cash plus 2000 for ATM invested in that location..so 8k total investment(this is where argument insues) you never recoup that 6000 because it always has to be there,,you can't say you only have 2000 invested because that 6000 is always tied up and can't be used for other things,yes its still yours but not available to you so it has to be counted as investment money..

someone on here does a deal where they borrow the vault money short term from friends and family

but i see what you're saying and i agree. seems like the best deal would be to just lease the equipment

to the store , let them stock it with their own money and keep most of the fee, just take a small slice

kind of like an insurance policy should service calls arise.

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someone on here does a deal where they borrow the vault money short term from friends and family

but i see what you're saying and i agree. seems like the best deal would be to just lease the equipment

to the store , let them stock it with their own money and keep most of the fee, just take a small slice

kind of like an insurance policy should service calls arise.

I know of someone else here that uses armored services money. That way he has zero money held up. the armored car service refills the machine for him and all he does is collect the fee. Even that is wired electronically into his own account.

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i have researched the armored car service and it was 90-100 dollars per stop every time they serviced and filled, plus a percentage on vault cash used..so if you had say 10 atms and you wanted them to fill with 5K each so you wouldn't have to pay them the 90-100 but once a month then you would have 50K and pay something like 5% every month(not yearly interest, monthly) .

It is something to have in your hip pocket for the really home run stops,,like i have a friend that has a truckstop,, it goes through 10K a week in vault cash,, he services it twice a week as it is near him..just think if that stop was 100 miles away ?? you never know when your gonna hit a home run with a location.. so with atms i kinda feel like guys don't want to hit home run because if you do you have to sink so much vault cash in machine to keep from having to service constantly.. with armor car service as a option you can put those on the armor car and when you do hit a home run your OK!!

( that truck stop does so well as it gives 15 cent a gallon discount if you pay cash..say your filling your tank with 20 gallons that is 3.00 , you need some cash anyway so your sir charge just got paid by the discount on the gas,,thats why it is so good)

ron

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I think the only decent locations that are here in michigan are the casinos. I have a friend who works for pendum and he said even the banks loose money on atms. The only reason they have them is so people will open a checking account with them. One of the banks even had an atm at the secretary of state and they pulled that because they lost to much money.

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  • 3 months later...

Wow, good to see the board is thriving. Been awhile since I logged on. I like to see ATMs being discussed :rolleyes: . The ATM side of vending is still strong. Hope everyone is well

Blueplate I just started an ATM business and wanted to know who should I go with for processing. I have locations lined up just have to purchase the ATMs and sign up with a processor. Any advice?

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Blueplate I just started an ATM business and wanted to know who should I go with for processing. I have locations lined up just have to purchase the ATMs and sign up with a processor. Any advice?

What kind of locations do you have lined up? The c stores and most other places are saturated with atm's around me.

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Pizza places can be good if they don't take credit cards. I can process for you if you want, where in New York are you? I can even come help install it. I will send you a PM with my phone number.

Im in upstate NY near Syracuse. I will give you a call when I get a free moment.

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  • 1 month later...

I am also getting into ATMs as an extension to my full line vending now. Most likely I will be hands off even though I wont make as much I would just like another revenue stream comming in. I plan to start with one or two and go from there. Any other advice from the pros in here?

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someone on here does a deal where they borrow the vault money short term from friends and family

but i see what you're saying and i agree. seems like the best deal would be to just lease the equipment

to the store , let them stock it with their own money and keep most of the fee, just take a small slice

kind of like an insurance policy should service calls arise.

When you let the store stock it with there own money are you able to still track transactions from the ATM even though it is going to their bank account? Would the store then pay you monthly? I plan on doing something similar to this or having another company replenish the ATMs for a certain amount of transaction fee if I can find one that will do that. I would like to remain hands off most of the ATMs depending on the location

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  • 3 weeks later...

I'm new to vending however I don't have a friend in southern Alberta, he has told me that he makes several thousand a year with each ATM from service charges. He charges about $3.00 per transaction which he says works great for him

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