Having an ATM installed in your business is a customer retaining strategy. People get frustrated easily looking for where to withdraw after purchasing items from a store. The convenience factor means a lot to customers. Aside from that, it can boost your business revenue as people will feel comfortable coming to your store to get their needs. For this reason, you should consider having an ATM installed for you.
Here is what you should do to make it happen:
- Conducting Feasibility Studies
When starting any business, it is crucial to gather relevant information. That applies to setting up an ATM too. Talk to people with experience, particularly those with in-depth knowledge of how the ATM business works. You will get insight that tells if it is feasible or not. Feasibility studies are necessary because it equips you with all the data required to determine whether you should proceed with your plan.
- Choose A Model that Suits your Business Needs
Businesses focus on the cost of getting an ATM installed, with less attention to the features that should come with it. Consider the screen type, lock security, and aesthetics. Ensure that whatever you choose is favorable to your business. Whether new or used ATMs, what matters is getting a durable one that can serve you for long. If your ATM fails to work when needed, customers may feel disappointed. It can be the reason they start patronizing another store offering similar products.
- Pick the best position for Installation
Making this decision can be tricky, especially if you have limited space. Placement is a crucial factor in setting up ATM at your business. You don’t want to install it in a position where it will disrupt your daily activities. It would be best to choose a spot that gets little or no activities during business hours. Customers can walk down to the ATM before or after purchasing items from your store without challenges.
- Estimate Your Earnings
You have to be realistic when calculating how much you can earn from the ATM business. A survey revealed a high tendency for customers to increase their spending when using ATMs in stores. That shows the importance of getting an ATM at your business. You can calculate your earnings based on previous customer patronage data per day. The more people patronize your store, the higher the chances of using your ATM for transactions.
You can increase your business ROI by installing an ATM in your store and listing your business online using Google My Business (GMB. That way, customers will know that your store has an ATM. New York ATM is an ATM installation and maintenance expert if you need one installed for your business. Give us a call today or fill out our online contact form!