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jns2010

Best ATM model for my needs?

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I am starting an ATM business and could use some advice on which models are best.  I'm starting with just one machine at first, and will re-invest and grow from there.

 

I have secured placement at 2 indoor trade shows (indoor) in mid September.  Each trade show deals with cash-based businesses and has an average attendance of 10,000-12,000 per show.  I'm placing the machine at these basically to recoup my initial investment.

 

After the trade shows are over I will be placing the machine at a contracted location.  The location will most likely be outdoor.  I am shooting for a truck stop or gas station.

 

If the trade shows are successful I will also be looking at securing placement at more in the future.  I have also looked into placement at the local farmer's markets, however I'm concerned the traffic there isn't high enough to be worth it.

 

Any suggestions on the best models to fit the bill?  I've been considering either the NCR self-serve 28, or the Triton Argo 7 eco (level 1).  Anyone have experience with either of these?

 

 

 

 

 

 

 

 

 

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Congrats on getting into the ATM biz.   Starting off with events can be difficult (but not impossible).  I've done about 14 events this year and have a few ATMs at a Live Nation venue.

 

First, you are looking at about 2.5% to 3.0% of the attendees use the ATM.  So let's take your 12,000 person event.  You have to guess on the high side of 3%.  That's 360 transactions.  Events usually average $80/transaction, unless your are attracting wealthy 30/40 year olds (like a Phish concert), then it's much higher.

 

So you will need about $30,000-$32,000 for the weekend to be on the safe side.  

 

Next, I look at the event hours.  If it's 10 hours a day (say the event is 2 days, total 20 hours)  look at 360 transaction divided by 20, that's 18 transactions an hour - very doable with one ATM, but I usually bring 1 ATM for every 8,000 people to be safe.

 

As far as the ATMs, I would buy the Hyosung 2700.  I think they are the best bang for the buck.  I don't know much about NCR's, I owned a used one for about 4 hours.  When I saw the programming instructions, I replaced it with a Hyosung.  I was once told, programming one is about as easy a flying a Russian MIG without being able to speak Russian.  The Argo seems like a good ATM, but I'm just not a fan of Triton - there are some small design flaws on most of them and they tend to tick me off.  

 

If you are concerned about safety, not sure I would go with the Level 1 safe.  They are heavy as all hell and add about $1000 to the total.  I would look into some metal surrounds from TPI or Diamond Kiosks.

 

Good luck

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Thanks Blueplate!  That was extremely helpful.

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