People often ask what the benefit of getting into the ATM business is. It’s simple. Residual income.
One of the many struggles as a college student isn’t the assignments, tests or stressful group projects, but finances. Students constantly hope that they can do away with the stresses of being broke. As a graduate of Cal State Los Angeles I looked forward to the beginning of the quarter for one reason, financial aid. The excess cash that I had after tuition was paid ranged anywhere between $1,500-$2,000, which typically went straight to bills. However if there is one business I would recommend any college student to get into for the purposes of making extra cash each month, it would be the ATM business. Using the excess cash from financial aid or even some extra cash you have laying around would be enough to get started, and here's why…
Low Start Up costs.
Most common ATM locations are mom and pop shops and gas stations; locations that don’t require a machine to hold a large sum of cash. You’re first new ATM will start at around $1,700. At that point you just need to have enough expendable cash to load your ATM with. ATM cash dispensers or CDUs located in the safe can hold anywhere from $500 to $2,000. So all in all being ready to operate your first ATM will run about $2,500.
Locations are easy to come by.
The general consensus in the ATM business is that locations for are being taken up left and right. That is something I refer to as a “fallacy”. There are always business looking to make more money and we at ATMTrader.com are constantly taking new orders on machines for new deals from our partners. And these locations are places that college students visit constantly: gas stations, bars, night clubs, mom and pop shops, liquor stores. It can be as easy as bringing up the idea to your regular “go to” spot or to a place that is familiar with you.
No Employees needed
You are your own boss!! In this business all you really need to keep up with is loading and maintaining your machine, which really only requires a wipe down of your sensors and belts. Monitoring your machine so it doesn’t run completely out of cash, and watch that residual dollar amount grow. There is no clocking in and it is a business that can work around your everyday schedule.
Cash is always in demand.
Providing a service that people will always need is a sure way to get your residuals flowing to a point that you will always have cash coming in. Not every location accepts cards because of credit card fees. You can help local businesses bypass those charges with an ATM that is at no cost to them, and you need not worry about extra fees.