Here, ATM business basics will be looked at. This refers to the “stuff” you need to know before buying your first ATM. Even if you’re already involved in it, it’s a good refresher. Maybe you want to talk to someone else about opening their own ATM business. In that case, this is going to come in handy, as well.
ATM Together can and will provide everything you need to know about launching your ATM entrepreneurship. We may even be able to help solve your financing problems if you’re not sure how to fund your new business.
Here are a number of things to know before you start your ATM business.
Do Your Research
At the end of the day, this is a business – an investment – so make sure you’re doing your due diligence every single day. Remember, no one is going to do your work for you – it’s on you.
At least do the minimal research you need to get started and go from there.
The Laundry List
ATM Together offers countless learning and instructional opportunities. We can be your guide to successful ATM entrepreneurship. Much of the research you will need to do can, in fact, be found courtesy of our videos.
- Free 2022 Guide – this is the latest, greatest version of our guide written by the people on the team who know all there is to know about the ATM business.
- Free ATM Minicourse – everybody loves this course. They feel it’s very informative and gets you excited and ready to go. People who don’t understand the business may think it’s boring. It’s anything but! This little minicourse can show you why.
- Record past Videos – ATM Together posts “Weekly Lives” on YouTube. These are beneficial in more ways than can be described here. So that you always have access to them, consider keeping a file of them handy so you can turn to them whenever you need instruction, information, or refreshing. Special guests, client testimonials, and other gems can be found on these posts. The experiences and knowledge of key ATM players are but one small part of what makes these posts so valuable.
Check Under “Guides” On This YouTube Post
To locate “Guides” on the YouTube video/post referenced, click Things You Must Know Before Starting an ATM Business YouTube Post here. At approximately 26:34, you’ll be instructed to click “Guides”. That will introduce you to the section referred to in this paragraph.
The Four Pillars
Four pillars are involved in your ATM business startup. Those are reviewed in the video/post just referred to. Here are the pillars:
- You’ll need an LLC/EIN. ATM Together can give you the NAICS code and a couple of good ways to achieve your LLC/EIN.
- You’ll need to set up a business checking account. Be sure, when you go to the bank to open your account, you have your LLC/EIN, identification, and an ATM processing agreement printed copy with you.
- You need an ATM processing company. Do your research! Going with a unreliable company can completely derail your profits. Make sure there is no contract and free processing is available. Customer service is another hot topic. If you can, talk to people who already use the company to see what they have to say.
- Location is everything. You’ll want to put your ATM in a place that is cash driven and experiences a good amount of foot traffic. ATM Together can help you figure out the best location for your machine(s) if you need assistance.
Ready to Start Your ATM Business?
We’ve shown you any number of things that you should know before starting an ATM business. One of the most important and beneficial things to know is this: You can get all the advice, guidance, hands-on training, instruction, and information you need to purchase, locate, own, and operate ATMs from the caring, experts on the ATM Together team.
That’s it in a nutshell.
We would love to talk to you about starting your own ATM business. Please contact us for more information. We may even introduce you to our financing option, if you don’t have the funds with which to start your business.