Owning An Atm Machine Reddit

He already has the machine he just needs the capital or money to put it in to the machine.

Owning an atm machine reddit. Your research shows 5 of people who go to gas stations use an atm if present. You can use an iso or an iad. Anyways there s a 2 50 transaction fee for atms. Do your research on the places you plan on setting up your atms.

Setting up a network of machines in moderate to high traffic areas can yield 5k 10k year in revenue again according to the atm companies so taken with a grain of salt. That would pay off the costs of the machine within 6 months to a year at the latest. Cost to own is 2k 5k for a decent machine and location is everything. You can find them cheaper and even used but i have always gotten the same machine.

Anyways i m 18 and have 3000 dollars in my savings account. I own 55 machines right now. Your atm machine is a transaction machine. My brother is pushing me into putting at least 2000 in an atm and start making money.

So who will process these atm transactions. You want to go on a one week vacation who are you trusting with that 20 000 to go stock your atm s while you are out of town. I like it and understand how it works so i have just stuck with it. You own five atm s each one requires you to stock 4 000 5 000 each per week or 15 000 20 000 in cash.

Iso stands for independent sales organization. If you never leave town it may be a decent investment otherwise i wouldn t touch it which is why i decided not to do it once upon a time. A machine costs about 2000. Cash is still king in plenty of places which is why atms are more popular than ever says noah c.

So 50 people use the atm day. I don t own one but its just like any other business. This is my full time venture. Atm machines commonly found in convenience stores gas stations bars and other small businesses are not generally owned by major banks they are owned by people like you and me.

In any case the machines are very profitable investments. I would 1 25 while the owner of the business gets 1 25. Iad stands for independent atm deployer you will need to work with an iso or iad to process your transactions. Talk to a few different organizations before making your pick.

Gas station gets 1000 people per day. Wieder ceo of atm depot. So having an atm nearby helps them lower their credit card processing fees.