Should You Place an ATM at Your Business? In Most Cases the Answer is Yes!
With all of the other issues that a small business owner manages, perhaps the thought of placing an ATM in your establishment seems like it may be just too much to manage. Fortunately, this is not the case and most often placing an ATM in your store, restaurant, hotel lobby etc…will benefit your business in many ways! Most importantly, placing an ATM in your business increases your bottom line.
What are the Benefits of Placing an ATM Machine at My Business?
A benefit to placing an ATM at your business is that it produces an additional revenue stream adding more profitability to your bottom line through increased sales and transaction revenue.
Customers who withdraw money from your ATM spend, on average, 10% of the money withdrawn at your business. Additionally, providing your customers with a cash option creates a higher level of customer satisfaction and creates a loyal customer base.
ATM Managed Placement- What Can a Business Owner Earn
Generally 3%-5% of the foot traffic into your establishment will use the ATM. Let’s translate that into actual potential revenue. If you have 250 people coming into your establishment daily, then that rolls to 7500 people passing through your doors each month. Assume an average of 4% of those people using the ATM and you have 300 transactions/month. Factor a $1.50-$3.00 surcharge for each transaction (depending upon what type of management solution you choose…more on that later!) and you have a silent revenue stream of $450-$900/month or $5,400-$10,800/year. ATM Placement equals profitability.
How Do I Manage My Business and an ATM?