Anyone in the ATM Business? (credit card, fee, insurance, small business) - incorporation, advertising, financing, small business... - City-Data Forum

JamaicanSprinter · 09-08-2013, 11:50 AM

I currently have a vending business here in the Houston area and am looking to expand into ATMs. I have done a ton of research but would like some feedback from people who have been in the business. The good and the bad.

oregonwoodsmoke · 09-10-2013, 12:37 PM

All I can think of is that you'd better have a secure location where no one can attach a chain to your machine and jerk it out of the wall.

Other than that, they are supposed to make money, but at 15 cents per customer, they can't be making too much.

LordSquidworth · 09-13-2013, 08:08 PM

Quote:

Originally Posted by oregonwoodsmoke

All I can think of is that you'd better have a secure location where no one can attach a chain to your machine and jerk it out of the wall.

Other than that, they are supposed to make money, but at 15 cents per customer, they can't be making too much.

I'm sure there's insurance for that.

mtgmike · 09-17-2013, 09:21 AM

Declining business. Honestly, the only growth I see in ATM's would be placing them in pawn shops, or other businesses that require cash. Any pawn broker can and will buy their own. Aren't more and more of your vending locations(especially bars) going cashless?

One of my friends is in vending and Ive listened to him talk about the business a ton, but don't have personal experience.

unplugme71 · 10-03-2013, 02:37 PM

Yes, only ATMs near cash businesses would make sense. I rarely hit an ATM anymore and if I do, I just drive by my bank first.

A better business idea is to sell POS products to small businesses to accept credit cards. You get a nice flat fee for the setup/installation, consulting, and markup on product. You also get income from the support of that POS system going forward.

doodlemagic · 10-04-2013, 03:33 PM

oops i thoguht you were referring to a business in adult nature atm is also a reference for something else as well. guess i was wrong your talking about cash machiens lol

mariadsouza · 10-21-2013, 05:35 AM

People these days are not interested any more in ATM's.

Felix C · 10-23-2013, 06:17 PM

You may wish to email the poster of this thread as he is in the same business:
//www.city-data.com/forum/busin...-business.html

Ryaan · 11-04-2013, 04:52 AM

Its not a profitable business now!!

NickL28 · 11-10-2013, 08:06 AM

If it WERE so profitable, then why do there seem to be many listed for sale on Craigslist of all places?