ATM Machine Buyers Guide and Purchasing Advice
ATM Machine Buyers Guide & Purchasing Advice
ATM Services - Can your business profit from owning an ATM machine? If you're reading this article, then the answer is probably yes, but before we get ahead of ourselves. You need to ask yourself a few questions regarding the actual ATM location you plan on placing your new ATM machine.
- Do you have customers asking for the ATM location nearest you?
- Do you have at least 150+ people a day visiting your location?
If you answered yes to both of these ATM related questions. Then I'm about to show you why you need to buy an ATM machine and how you're going to make a great profit with little or no effort.
The key to being successful in the ATM services business is to find ATM placement locations that will make you money month after month. ATM sales are based on customer traffic count, so let's figure out how many people will use your new ATM machine on a daily basis. The formula I am about to show you is the same formula that is used by every ATM company, dealer and ATM distributor in the country when placing ATM machines. Trust us when I tell you this formula is tried and true.
ATM service companies and ATM distributors look at one thing when deciding wheather or not to place an ATM machine at a particular location. The rule of thumb goes like this. 3% - 5% of the foot traffic that actually sees the ATM machine will use the ATM. So let's figure that you have a total of 300 people a day coming through your doors, and let's say that you are charging a $2.75 surcharge per valid withdrawal. If you take the middle road that 4% of the people that see the ATM machine will use it. Then you can count on your new automated teller machine to generate you a minimum of 360 transactions per month at $2.75 per valid withdrawal. That comes out to $990 per month or a total of $11,880 per year. All that from one ATM machine at one location.
The next question is how much will your new ATM machine cost. This question is a little harder to answer simply because there are so many ATM machines to choose from. Such as Class 1 Armored ATM machines, Indoor ATM machines like the line from Tranax ATM, Triton ATM, and Hyosung ATM, which they all offer great machines such as the mini bank 1500 ATM, Hyosung Halo, Triton 1600, Through-The-Wall ATM machines, Cashless Scrip ATM, etc. But one thing I can tell you is that 75% of the ATM machines used in non-bank locations are non-armored ATM machines. A good non-armored ATM machine is the Hyosung Halo ATM machine with a color screen. The Hyosung Halo ATM can be purchased from us for $1,995 at the time this article is written.
So there you have it, if you have customers that are currently asking you for the closest ATM, or if you have a large amount of foot traffic coming in or walking by your location on a daily basis. Then you will most definitly profit from owning an ATM machine.
Co Op ATM Services - Is this the right solution for your ATM needs?
Co Op ATM services are a fairly new concept within the ATM business. The co op ATM option seems to be best suited for a store or property owner that wants to take advantages of owning their own ATM while minimizing thier risk by splitting the costs and liabilities with a top notch knowledgeable ATM distributor or ATM dealer like us. By doing a co op ATM Experts, you will avoid the many little mistakes most people make when learning how to operate a profitable ATM machine on their own for the very first time.
Co op ATM deals are usually designed where the ATM distributor (like ATM Experts.com) and the property owner split all costs right down the middle on everything from the ATM machine itself, to installation, receipt paper rolls, ATM maintenance costs, etc. While in return, the store or property owner is only responsible for paying half of all hard costs, and keeping the ATM machine filled with their own cash at all times, and that's it. In return, all profits are split 50 - 50. That is why getting into a co op ATM is a good idea for the property owner that wants to minimize their risk, and have the opportunity to learn more about the ATM business from a reputable ATM distributor like ATM Experts.
Free ATM Placement Programs - What are the benefits of a free ATM placement?
Free ATM placement services have been around as long as the ATM business itself. Free ATM placements services are designed for high traffic locations that need a high volume, full service ATM machine with out any of the headaches of owning one. In most cases, a high traffic location is offered free turn key ATM placement services at no charge. In return, the ATM distributor will provide the location with a percentage of the ATM surcharge revenue from each valid cash withdrawal from the ATM. The ATM distributor will be responsible for everything revolving around the ATM machine. They will pay for the ATM, ship the ATM, set up ATM processing and install the ATM, load cash into the ATM and then maintain the ATM for the life of the ATM placement. The location owner does absolutely nothing but cash the checks when they arrive in the mail from ATM Experts, the ATM distributor. (Or direct deposit if you choose)
Free ATM placements are the best way to take advantage of the ATM boom. No headaches, no investment, no worries. Just make sure you pick the right company...a company like ATM Experts.
This is where ATM-Machine-Quotes.com comes in. Simply submit your info outlining your current ATM needs. You will then be contacted by two or three of the most reputable ATM distributors in the country with in 24 hours. Then you can shop and compare the offers from both ATM distributors and ultimately choose the best ATM machine distributor that fits your ATM needs.
ATM Machine Lease - Weighing the benefits of an ATM Lease
Are you thinking about buying or leasing an ATM machine to place in your business or as an additional source of income? Before you make your decision, weigh the pros and cons of both leasing and buying. You might find that leasing is a better option for the particular needs of your business.
What kind of things do you need to consider? First of all, what kind of service agreement will you have if you choose to buy an ATM? Are you responsible for all repairs? Is there any kind of warranty? Where is the closest ATM service repair person?
If you do buy, you will be responsible for all future ATM repairs and ATM parts. There is generally a warranty period of atleast one year on both ATM parts and labor, but don't take those things for granted. Make sure you understand your agreement before you buy an ATM.
The same goes for leasing: make sure you understand the lease agreement before you sign off on it. Generally speaking, you may receive more repair assistance if you lease the equipment but read your contract closely. Are there charges for late lease payments? What if the machine does not perform as you had hoped? Is there a clause in the agreement that will allow you to opt out if necessary?
Look at the total price before you get infatuated with the low monthly price of a lease agreement. Look at these examples. If you can buy an ATM machine outright for $2000, don't be taken in by a $100 a month lease for 60 months. That would end up costing you an additional $4000 more than it would have cost you if you would have bought the ATM outright. So, while $100 a month certainly sounds nicer than $2000, the lease will cost more in the long run. Not all ATM leases are the same, though, so you should evaluate your options carefully.
Talk to your accountant to see which would be a better deduction for your business. Do you need a monthly payment to claim as a business expense for your taxes next year? How much of the monthly lease payment can you deduct? Can you deduct more if you buy it outright? Your accountant can tell you if it is more beneficial for you to buy or lease an ATM machine and will also be able to outline a few more pros and cons related to ATMs as business expenses.
Take a little time to investigate your options before you choose to either buy or lease an ATM machine. Making an educated decision now will mean you will likely be more satisfied with your choice months down the road. Don't let a sales rep rush you into a decision. Remember, it's his or her job to sell. Insist on taking your time, asking questions, reading information and talking with other customers about their experiences with the company from which you are considering either leasing or buying.
ATM Sales - Buying ATM Machines can be tricky. What should you expect?
If you've ever considered buying an ATM machine, but think the ATM sales business is probably too complicated, think again. While there's going to be a learning curve, this is a business that can be learned by anyone who has a tendency toward entrepreneurship.
Start with the basics. Take a look at the major manufacturers of ATM machines like Tranax ATM, Triton ATM, Hyosung ATM and WRG ATM, and those who advertise themselves as ATM companies. You should expect from these companies the exact same service you'd expect from anyone offering a product - competitive prices, service after the sale, technical assistance and the ability to upgrade.
Remember that ATM machines exist simply because of two things - the demand for convenient access to a customers cash and the technology to make that need a reality.
Take time to compare prices, but don't necessarily look only at price. Some companies offer lease purchase options, or even a "rental" opportunity. Those may very well be what you need to get you started in your ATM business endeavor.
With almost any business enterprise, service after the sale is vital. If your machine is down, people will remember it as an unreliable location. Not only will you lose that day's transactions and the accompanying profits, you'll also lose in the future because the customer who doesn't successfully complete a transaction is likely to find another ATM location for their next attempt.
Some companies offer a network of technicians to help you keep your ATM machine maintained. This isn't necessarily part of the ATM sales process, so keep it in mind as you choose a company to purchase your ATM machines from.
Locations are another important issue to consider as you look into the potential of getting an ATM machine or expanding your current network of machines. Some companies offer to help you find locations, but others simply offer up the product, leaving the location finding to you. If you're opting to take over an existing location, you should probably get a look at the previous owner's profit margin, if possible.
That location may be important for another reason. If it's a "through the wall" ATM machine, you're probably going to have to have a machine that fits that existing spot. Some ATM sales companies tout their ability to retrofit machines so that you can use any existing space.
There are many things to consider as you look at purchasing an ATM. Remember that there's profit to be made, but don't think that the money is simply going to roll in without your input at all. From periodically checking machines to maintenance, you have to be willing and able to invest some time as well as the initial financial investment. But if you do your research, and choose your ATM sales company carefully, you'll find out why so many people are opting to go into business with an ATM machine.
ATM Distributors - Why ATM distributors must be there before and after the sale
Why must ATM distributors be there for clients both before and after the sale? The answer is simple. Good customer service - before AND after the sale - brings about repeat customers and referrals. And remember, the customer is a powerful person. If the customer has one bad experience, you can believe he or she will tell any and everyone who will listen about it. If you are trying to build a good business; bad experiences will kill it faster than anything else ever could.
Stay on top of customer service. It begins before the sale.
If you call, write or email about your interest in an ATM distribution program, make sure the company follows up as quickly as possible. If you ask questions, they should be answered. If they don't know the correct answer, they should say so. There is nothing wrong with not knowing everything. As a matter of fact, you will probably trust the company more if they answer a question with an honest "I don't know, but let me find out and get back with you by the end of the day." If they give you a time limit, make sure they honor it. But if they can't find the answer you need by the mentioned deadline, call back to inquire and make sure all your questions are answered. Just be honest, and you will get your business relationship with the ATM company off to a great start.
Now that you have chosen an ATM company and bought your ATM product, atm sign, or services, the work does not stop. You must still work to keep your ATM customers satisfied, even if your company is small and you have to deal with a lot of other business issues. Keep in touch with the ATM company.
When it comes right down to it, they are the people you have to communicate with. They sold you the product. Usually you can call a service representative personally if you ever have any trouble with customer service or repair departments for your ATM machine. Let them know that while you don't anticipate any problems, you'll be in touch if you do run into any. With that said, make sure the ATM company you choose follows up on your concerns and gets back to you in a timely manner. If you've been trying to reach someone from tech support but can't seem to get through a busy switchboard, make sure someone takes your phone number and ask someone from tech support to give you a call. Even if it takes tech support a while to solve your problem, you will be impressed if you get results from them. This is how business relationships are built.
If you want to build your business, service both before and after the sale is of utmost importance. Don't slack on either aspect. A satisfied customer is a long-term customer. When a satisfied customer tells other people about his or her great experience with you and your company, it's better than any type of advertising you could ever invest in.
ATM Processing - How much should it really cost for ATM transactions
How much should it really cost for an ATM transaction? In a perfect world, it would cost nothing. However, ATM machines cost money. Without the charge for ATM processing, there would be no way to reimburse the people who are out the costs. And no one wants to be out the costs without some kind of return for it. However, you should try to find an equilibrium price so that people will continue to use your machine and you will begin or continue to make a profit for your machine.
When you decide to go into business or make some extra money with ATM processing, you should first decide if you want to own or rent. You should then consider any additional costs for owning and maintaining your machine. This should include any costs for periodic maintenance, time spent on the machine, and any costs that you will need to pay to any outside parties. The costs of owning and maintaining an ATM machine will vary from owner to owner. You just take into account the costs that you may incur.
After you figure out how much cost you will incur on a regular basis, you should decide on a possible scenario for how much your machine will be used. The first step in doing this is surveying the traffic around your machine. This is one thing to consider when you are choosing a location to put your machine. One thing to make sure is that people will realize that your machine is there. No one can use a machine that they don't know exists.
If you are putting your ATM machine in a place that has a lot of traffic, especially foot traffic, the likelihood of people using your machine increases. Also, if there is a reason why people in the area around your machine would need extra money, the transactions are likely to increase. All of these factors are important because when more people use your machines, you can afford to charge them less.
After you figure out what reasonable pricing with the competition seems to be, see if you can meet or beat it. However, you still have to keep the charge high enough to make a profit. But if you charge less and more people come, you still have the potential to make more. This is the whole point of competitive pricing.
When you are pricing your transaction fees, you should compare your fee to the competition's, especially if any other machines are in a close proximity. No one will use your machine if they are charged more at yours than at the one around the corner. However, even if yours is the only machine for miles and miles, you shouldn't charge way more than other machines. People will then use your machine only in emergencies in that case.
The main point that you should remember when pricing your ATM machine's processing transaction, is to charge enough to cover your routine costs and make a profit without going above the competition's pricing. If you can't do this, don't buy one.
ATM Business - How to get in on the ATM machine business phenomenon
One of the first things you should realize before you dole out the cash to get an ATM business off the ground is that simply having the ATM machine isn't going to do you a bit of good. The person who has a dozen ATM machines in the garage is no more in the ATM business than the person with no ATM machines at all. So what does it take to get an ATM business started?
The three most important rules of real estate apply to the ATM business opportunity. It's all about location, location and (of course) location. If you have poor positioning for your ATMs, you'll probably not do much better than if you had them in your garage.
So the first step is not only to find the machines, but to decide what you're going to do with them once you have them. Some ATM manufacturing companies offer help finding locations, and some ATM franchise companies offer help finding the machines. Which way you start is merely a point of personal preference.
If you choose a franchise, keep in mind that there are likely to be some franchise rules you'll be expected to follow. The extent of these rules will depend on the franchise because there is no typical franchise contract. Each franchise parent company sets rules for themselves, and those decisions are up to the franchiser as long as they don't violate any rules governing the use of ATM machines. Franchises do often offer one major benefit in the form of support. A franchise parent company may very well be able to train you in the management of your ATM business, down to bookkeeping and maintenance of machines.
The reliability of your ATM machines will depend largely on your manufacturer - some are simply at the top of game in this sector while others aren't. You may find that the cheapest source of ATM machines isn't the best source. Here's why reliability is such an important factor in your effort to start an ATM business.
If a consumer is headed to an ATM machine, it's probably because he or she needs cash. It may be for an impulse purchase or for an emergency car repair - but the fact remains that the person is looking for money. If your ATM machine isn't working on that particular day (or worse, malfunctions mid-transaction), that person will probably be able to go to another ATM machine to get the cash they need. You've lost the profit from that particular transaction. But worse, you've probably lost future transactions because that person is going to remember your ATM as the one that didn't work, and won't even bother to stop there next time.
After choosing the manufacturer and locations for your ATM business, you've still got some hurdles to clear. You'll have to set up a routine of servicing machines (whether you do it yourself or hire it to be done). You need to have a regular maintenance program in place, and to have a plan for when problems occur.
Setting up an ATM business isn't a process that's going to be completed and off the ground in an hour or two, but just take a look at the number of successful ATM businesses in existence. This is an endeavor that's likely to be well worth your time, effort and financial investment.
Cashless Scrip ATM machines - How Cashless Scrip ATM Machines Can Work For You
The words "cashless" and "ATM machines" simply don't seem to belong in the same sentence. After all, what service could a cashless ATM possibly offer? Actually, cashless scrip ATM machines are becoming more widely acceptable, and offer one of the most important things to the merchant - the potential for higher earnings. Take a look at the concept, how it works and how you can put it to work for you.
In reality, the concept has nothing to do with not spending or receiving money, but with spending money without using cash or writing a check. Instead, the customer simply swipes a card and the transaction is completed. While it's fairly common already to have credit and debit card terminals set up at checkout stands, one point to keep in mind is that these transactions come with a price.
Typically, the merchant pays a set fee for each transaction.
So what if you could eliminate the transaction fee? What would it be worth to you? Before you answer, stop to consider how much that fee is currently costing you. If it's a flat fee of fifty cents per transaction, for example, would it be worth fifty cents if that fee didn't apply? And what if you could then use that transaction fee - in whatever amount you choose - to encourage the shopper to return? This is one of the benefits of cashless scrip ATM machines.
So are these ATM points free? Actually, the customer pays a convenience fee, just as they would if they used a traditional ATM machine. So where's the advantage? When people are shopping, they're typically not worrying about a dollar (or even two or three) that they'll be charged for using an ATM machine. The same is typically true of the transactions on cashless scrip ATM machines.
In marketing, "soft benefits" is the term given to some benefit of shopping in a particular place. If you, as the merchant, can offer your transaction fee back to the customer, it might be just the slight incentive needed to encourage that customer to make a return visit. Even though the actual cash amount isn't likely to be significant, you're building good will - a feeling that will likely remain with the customer long past the moment when the last bit of wrapping paper is being crammed into the trash.
Other benefits of cashless scrip ATM machines are evident in the environment. The customer will typically receive two receipts for the transaction, but other paper receipts are eliminated. The result is less need for paper and less paper to throw in the trash - both good ideas for the environment.
Finally, you can point out the ultimate convenience of this type of transaction. Checkouts are faster because your customers aren't standing in line writing checks. Approval is almost instant and there's no need to make change. If you, as a merchant, are able to offer the very cutting edge of technology as a means to convenient shopping, your customers are going to remember you.
Tranax ATM Machines - Cash To Go
For more than two decades, Tranax has been making self-service technology that works. It's this commitment to excellence that's made Tranax a popular option when it comes to ATM machines. If you're considering setting up an ATM or adding to your existing network of ATMs, you have to ask yourself a couple of questions. What is it that makes ATM machines profitable? What can cut down those profits? What can you offer that will make people pass up some other ATM to choose your Tranax ATM machines?
One of the reasons people use ATM machines at all is convenience. Every single thing you can do to add to that convenience increases the potential that your ATM will be profitable. That means that you may very well need to check out Tranax ATM machines to see what innovations make these even more convenient.
Maybe you're not even looking for a network of ATMs, but are looking for a way to make your existing business more profitable. Think an ATM can't help?
One of the innovations that emerged from Tranax is the combination ATM and ticketing kiosk. Just consider the problem some people face at movie theaters. It's not until they arrive that they realize that they don't have enough cash for movie tickets. They may very well scramble around to find an ATM machine, or they may simply go to a video store that will accept their credit or debit card and take their evening's entertainment home - unless you can make it easy to overcome this problem.
With a combination ATM and ticketing kiosk from Tranax, you can. What can be easier than using the ATM machine to pay for the desired tickets AND get enough cash for popcorn and a soft drink? This is just one of the many options you'll get with Tranax ATM machines.
You'll find Tranax ATM machines that offer coin exchange and check cashing capabilities - all designed to help you provide a wider array of services for your customers. And everyone knows that the additional services translate to higher profit margins.
But just as is true with any technology, the needs don't start and stop with the ATM machine, even if it is at the top of the game. You have to find several ways to attract customers. Tranax ATM machines are built to be located in a variety of situations, including "through the wall" models. You'll also find an array of signs, stickers and other accessories to help you attract those necessary customers, and even a surge protector to help protect your investment from an electrical surge that could put your ATM out of commission - resulting in lost profits for you and a loss of confidence from yourcustomers.
Tranax is headquartered in California. The company touts the installation of more than 60,000 ATM machines of various capabilities. If you've been thinking about the possibilities of an ATM machine, or just hoping to add to your current ATM network, take a look at what Tranax has to offer.
Tidel ATM Machines - When You Can't Wait to Get Started
Have you been thinking about the potential income possibilities of ATM machines and thinking you'd like to get in on that action? Do you immediately follow that thought with the recognition that you can't possibly afford to buy those machines outright? Take a look at Tidel ATM machines, and then look at the company's affordable lease-purchase options. You may find that you're closer to being ready to start a lucrative ATM business than you thought.
You can choose from the very basic Tidel ATM machines to the Tidel 3800 with multi-media capabilities. This particular machine can meet the demands of today's complicated transactions. For example, the 3800 can serve as a very basic ATM, completing cash transactions with a minimum of bother. But you may be missing out on a very important customer base by not offering check cashing. The 3800 can take care of those customers who need to cash specific kinds of checks as well.
The wide-screen monitor can be used for advertising - another potential source of income. Or you can offer up short entertainment clips to play as your customers wait for their transactions to be completed. Think that's pretty incredible? Your customers will too, especially when they find out they can purchase various tickets and even pay for travel arrangements, all through this one handy location.
If you think service of your ATM machine is important, you're right. Tidel recognizes both that service is sometimes required and that you may prefer your own service technician over Tidel service providers. If that's the case, you can quickly order and track parts through the company's website. Just choose the parts you need and place your order. If you wonder where the part is, when it was mailed or when it's due to arrive to you, just go back to the website and check the status of the part. It's all designed to help your business be as profitable as possible.
If you're looking to increase your ATM network overseas, Tidel may very well have the answers you're looking for. Take a minute to consider that Tidel ATM machines are currently located in some thirty-eight countries, according to information from Tidel.
Security is always an issue and Tidel ATM machines have been at the cutting edge of technology for many years with security-minded machines. After creating the technology designed to deter would-be robbers, Tidel moved right on to offer the first dial-up ATM available to the general public. These ATM machines are also very compact so that they'll fit in the smallest imaginable space, all aimed at what the company calls "low cost, high reliability" technology. When you consider Tidel's commitment to developing new ideas, you can probably imagine yourself as part of this winning team.
This company is based in Texas and produces a variety of self-service machines, such as ATMs.
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