Most people are unaware that owning an ATM (or a few) can become a business. It isn’t always a bank that owns and operates but, at times, a private owner. If you are interested in becoming an ATM owner, there are a few factors to consider. Your business can rely on making the best decision surrounding equipment and cost.
What Kind of ATM Do You Need?
There are three different kinds of ATMs that a buyer should consider prior to making a purchase.
- Wall Mounted ATM
- Through the Wall ATM
- Free-Standing ATM
Although the names of these kinds of ATMs are rather self-explanatory, it can be helpful to know the pros and cons of each. A wall-mounted ATM is small but holds less cash. A through-the-wall ATM is bulky and can require some construction but is ultimately secure and popular. Finally, a free-standing ATM is lightweight and needs little more than an outlet for it to be operable.
Does Brand Really Matter?
Consumers using an ATM rarely, if ever, notice the brand name of the machine. However, if you are going to provide one for people to use, the brand can be an important factor to consider. Genmega, Hantle, Hyosung, and Triton are the most common brand options.
Hantle is known for having reliable machines despite the small company size. Genmega is relatively new but growing quickly, employing a wide range of staff for an ATM owner’s various needs. Hyosung is the largest ATM manufacturer and has a reputation for both durability and dependability. With a couple of hundred thousand machines, Triton is another industry leader to consider. Choosing the right brand is dependent on your budget, needs, and general requirements.
Do You Have to Buy Brand New?
Most people prefer to make purchases of brand new items. Despite this, if you are buying an ATM for the first time, it can be helpful to purchase a refurbished machine. Having said this, seek out an ATM dealer that is reputable and trustworthy. You can purchase a great used machine, but it is important to make sure that the necessary fixes and maintenance have been completed prior to purchase.
Will Your ATM Pay for Itself?
Most buyers can purchase a refurbished ATM for less than $1,500. Brand new machines run for at least $2,000. Even if you were to obtain a small business loan to purchase an ATM or two, it is common to pay off the machine in less than 18 months. For most small businesses, a return on investment is nowhere near as fast.
The Perfect ATM Installation
If you require assistance with your ATM installation, New York ATM can provide the help you need. As a professional in the business, the beginning of your ATM business can thrive quickly and without issue when you use New York ATM. Give us a call today to start making money!