This business can either be EXTREMELY lucrative, and you can make a lot of money, OR it can be a really slow and not worth your time. The atm business is dying, if you don’t follow my instructions!
With these steps that I am about to show you, you will be able to thrive in this business and you will be able to grow your ATM portfolio so that you can start making thousands of dollars per month, possibly even tens of thousands per month.
So before you can even go out and purchase an ATM, you MUST start an LLC. It may seem a little more intimidating than you think. Starting an LLC also known as Limited Liability Company, is just a matter of filling out some paperwork and sending it to the correct offices government entities.
Luckily for us, 3rd party businesses have made the whole process much easier. Companies such as INC File have provided us some software that we can use. All we have to do is go over to their website and fill out some information, and they will file the LLC for us with the State.
This process does require you to take specific action such as clicking the correct boxes and choosing specific dropdown boxes. I have created an entire video explaining how to do this, so you can just follow along in the video.
You can find the LLC Link Here
The second step in this process is to file for your EIN number. This is a number you get from the IRS so that you can do your taxes. You also need this number to open up a business bank account, which we will get to in the next step.
Getting an EIN number is simple. I have made a video to explain how to get an EIN for FREE. So just follow the video that I linked for you in the previous paragraphs.
More info can be found in our free ebook: HERE
Opening a business bank account is the next step in this process. Once you open up a bank account, you will be able to receive payments from customers who use your ATM.
You must open up a business checking account! You cannot use your personal checking account.
Congratulations!! You are now officially a business owner. Once all of these steps are done, we can start the process of getting out ATM in stores.
This step is critical. You must find and filter out all of the good locations from the bad ones.
Each business has a certain level of cash demand and a certain level of traffic each day. A business with high traffic and high cash demand will do very well when it boils down to ATM transactions.
For example, a Strip Club has high cash demand because strippers take CASH ONLY. They do not take credit cards, Venmo, or Cash App. They take cash. So cash only places do extremely well.
If that strip club has hundreds of people coming in and out each night, thats considered a high traffic business. So a location like this might bring in the ATM owner $1000+ per month in profits. That equates to over $12,000 per year! The machine itself only costs about $2100. So that’s an Return on Investment (ROI) of over 471% per year!
This is why the ATM business is so lucrative! You can make your money back many times over with just 1 machine. Even if this machine doesn’t do $1000 per month, you’re still making fantastic money with just $500 per month per machine. This is some of the results from my students.
As you can see by the picture above, he had 17 successful transactions on this one night. Each of these trans he charged his customers $4.50.
(17 x $4.50) = $76.50 just for this one day!
If he is able to replicate this each night for the next year, he can make roughly $28,000 per year with just this one machine alone.
Each machine only takes a few hours per month to cash load and maintain. So imagine if he had multiple machines doing this same exact thing?!?!
So you must be able to differentiate the good locations from the bad locations. This is something that I teach to my students in my ATM Business Video Course.
Installation and Programming is something that every new ATM business overlooks. Companies are charging $250-$350 just to install and program your ATM machine for you. So if you need their service 5 times for your first 5 machines, you’re paying them over $1000 just for installation!
That’s ridiculous in my opinion! You’re better off learning how to do it yourself.
It’s not rocket science, but you do have to learn the steps in order to program and install yourself. With a little guidance and assistance, you’d be able to learn it in no time.
I show my students how to properly install and program these machines, so that you don’t have to dip into your wallets each time you install a machine.
If you’re looking for more information on how to actually start an ATM business, and you want to become a BOSS, I host a FREE Webinar a few times a week. Just click the link below to find out when the next webinar is.
There are limited spots because of the hosting platform that we use, so make sure you sign up, or the spots may get taken up.
Sign up for my FREE Webinar: