Friday, February 22, 2013
ATM's as a Profit Center for Your Business
I know that I have talked about ATM's before but I had a chance recently to discuss how profitable ATM's have been for various retail stores, restaurants, and bars.
For many business owners, the best option has been to be to only be responsible for stocking the ATM with cash. This means zero up front cost (other than the cash which is credited back to their bank account within 2 business days as it is dispersed from the ATM). On the low end, a couple of businesses have been generating about $100/month in profit from the ATM surcharges. Businesses with higher volume (or in areas with few ATM options for customers) have seen monthly profits over $300.
$100 - $300/month may not seem like a lot but that equates to $6,000 to $18,000 over five years. Not bad for something that has a zero investment cost.