Is 2023 your year to succeed? The answer could be a resounding, “Yes!” That is, if you decide to pursue ATM entrepreneurship. What’s more, you’ll want to seriously consider expanding to a BTM/ATM. What is that?
Before we look into how to make passive income with a BTM/ATM – with zero money down – we’ll explain precisely what a BTM is and does.
What Are BTMs?
Much in the same way an ATM works, a BTM machine functions on similar lines. But instead of dollars, bitcoin is utilized. Through the machine, your clientele will be able to purchase and sell bitcoin (crypto currency).
BTMs are meant to be complementary to ATMs, not replace them. The two machines do not compete with each other. Just the opposite is true. BTMs are sometimes actually referred to as bitcoin ATMs.
Start Your ATM/BTM Business with No Money Down
First things first, here’s a term you want to know: OPM. This refers to Other People’s Money.
If you like doing everything on your own and you’ve got some money to spare, or you want to save up, then there is nothing wrong with starting a business with your own money. But if you could use someone else’s money, why not?
The beauty of bringing someone else in on your business as an investor is that, if they give you money with which to purchase an ATM, load your ATM, etc. – OPM – you can promise them a kickback. Whereas the money sitting in their bank account might earn a few dollars a month in interest (if it’s substantial), they stand to make much more from you every month, because you brought them into a moneymaking business. The ATM/BTM business is, after all, all about money.
Another Financing Option
You may also want to consider taking advantage of the promotional rates offered by some business credit cards (some of our clients have had good luck with AMEX). Enjoy no interest for 12 or 18 months, which gives you time to make money with your ATM and pay back the credit card. Use it when you need it, pay it back almost immediately.
To get one of these cards, you’ll probably need a relatively impressive credit score and proof of income, so have information like that, and other personal information they need, in hand when you apply.
If you end up using one designated personal credit card, make sure it’s designated for business use only and use it only for your ATM spending. This will be particularly important when tax time rolls around.
If you’d like to find out how to pay for your first ATM/BTM, but you’re just not sure about financing options, the ATM Together team would be happy to help you figure it out. We even have a funding program.
What About Loans?
The chance of getting a business loan with which to start your ATM/BTM business is slim to none.
A personal loan, on the other hand, may be an option but will be determined by any number of factors. If you seem like a good risk to the bank, $50,000 personal loans aren’t uncommon and certainly come in handy for starting your ATM/BTM business. But the bank will want you to meet their criteria for approval. You should only use the personal loan for your ATM/BTM business, if you get one. The interest will be tax-deductible as a business owner.
Jump Into the Future Today with a BTM or ATM
Use your own money, OPM, or talk to the ATM Together team about financing. Any way you look at it, you’re going to make money by purchasing, locating, owning, and operating ATMs. Bring other people on board so they can make money too, if you choose.
The most important part is that you talk to someone from our team about starting an ATM business. Please contact us today.