Wonder
Sign up
Log in
Research Outline
Prepared for Adam P. | Delivered January 4, 2020
ATM Business
Review your project details
Goals
To obtain an in-depth understanding of the processes involved in starting and running an ATM business in the US.
View less
Early Findings
Setting up an ATM business from scratch requires
a number of processes
, which include securing the needed capital, identifying and securing the ATM's location, negotiating the location owner's commission, registering the business, registering the business for taxes, obtaining the necessary state and local permits and licenses, filling the needed paper work and contracts, acquisition and installation of the ATM itself, selecting and connecting to a processing server, setting up business insurance, and promoting the ATM business.
For each of the steps or processes outlined above,
several vendors
exist in the US to help new ATM businesses properly set up their ventures and achieve profitability.
Purchasing an ATM.
The actual purchase of the ATM is
one of the last steps
involved in the business creation process. It is highly recommended that prospective business owners
secure the ATM's location
before going ahead to purchase the ATM itself. Also, new business owners are advised to purchase new ATMs rather than used machines
to avoid
some of the headaches and repairs that usually accompany used ATMs, as new ATMs usually come with a one or 2-year warranty.
ATMs generally cost between
$1,000 to $10,000
, depending on the state of the machine itself. New ATMs typically cost between
$8,000 - $10,000
each.
Several vendors offer both new and used ATMs for sale, including
ATM Money Machine
,
ATM Brokerage
, and
National ATM.
Most ATM vendors also offer
installation services
in addition to the sale of the machine itself. The installation technician is responsible for installing, programming, and training the business owner (or a representative) on the workings of the ATM.
View less