It’s always going to be on your mind where to move your business, where to expand it and what type of location gets you the most transactions per day
What can you do to expand your business if you own multiple ATMs and no business?
A lot of ATM owners are also the proprietors of any given location, however if you find a location that doesn’t have an ATM and you’re trying to sell your ATM placement to a location, you’ll have to know how they will benefit from having a machine in their business. Some reasons why a business owner would like a machine in their business: to lower their credit card costs so they will see more cash being spent, as well as to attract customers into their business just by having an ATM on premises. They have no responsibility over the ATM, yet get to reap all of the benefits! With credit card costs being so high, most business owners would rather see cash being spent. By having an ATM on the premises they will allow their customers to have the option of using cash and ultimately reduce the chances of having to take the charges that come with plastic! Therefore, they will see lower credit card costs and more cash spending!
What type of locations will do well?
There’s no specific location that will do well, rather the foot traffic is the main statistic to look for when trying to find a location. Anywhere from 4-6% of people walking through the door each day will use the machine. Therefore, (for the purpose of understanding math) if there are 100 people walking through the door, that machine will get 5 uses a day. You want to find a business that averages 200+ people a day. If the business sees 200 people a day, you’re looking at about 10 uses a day (300 a month) and if you’re charging the national average surcharge amount of $2.66, that’s a $798 profit each month!