Location, location, location! You’ve heard it before, whether or not it has actually applied to the ATM business. When it comes to ATM machines, however, location is everything. Putting your ATM in a place that won’t bring in the funds you need is simply bad business. But if you’ve decided to start your ATM business, how do you know what constitutes a “good location”?
A Quick Bit Of Advice
One piece of advice before launching into finding ATM locations – if you’re new, buy new. This means if you’re new to the business and just getting started, do so with new machines. Take it from those who learned the hard way.
On to locations.
Finding the Right Location For Your ATMs
Let’s break this down into two methods:
Finding Your Location
Finding your own location is referred to as “prospecting”, which makes sense if you think about it. To prospect locations for your ATM machines, you can use the cold call method or visit the locations personally. Either way, make sure you’re always talking to the owner or person in charge.
Some salesmanship is required when trying to convince a merchant to allow the placement of your machine in their location. ATM Together has various ATM prospecting videos that introduce you to these two methods and how they can work to your advantage. Check them out when you have time.
The thing to remember here is that time is money. You’re likely going to spend a lot of time trying to find your own locations. How valuable do you consider your time? Are you going to be spending time prospecting that you could be using to make money?
Using a Location Finder Service
When using a location finder service, you may be presented with a couple of different types of options. One will likely work better for you. The good news here is that you’re going to save all the time you would have spent prospecting.
ATM Together offers two different packages. For information on that, please contact ATM Together. Shoot us a text at 844-941-4309.
Another important thing to remember: If one location isn’t working out, you can always move your machine to a better location.
Another Piece of Advice
One successful ATM owner, instead of just placing his machine and giving a percentage to the merchant (the owner of the location where he placed his machine) started “vaulting”. This is where a third-party service fills your ATM, and you pay them a percentage of a surcharge. Vaulting comes in handy if you don’t have enough money to stock your machine. Particularly if you’re first starting out. It’s also nice if you have a number of machines that frequently need filling. You can cut down on the time you spend, always running back and forth, doing the job.
Vaulting would, of course, only be done by someone you know and trust.
Need Help with Locations and Start Up? A Team Together Is Here for You!
The ATM Together team can help you find the right location for your machine or machines. When it comes to purchasing machines, financing, placement, owning, and operating ATMs – and anything else related to ATMs or BTMs – we have the answers. We have knowledgeable individuals who can help you with any aspect of the business.
If you’d like to know more about starting your own ATM business, please contact us. Your success is first and foremost.