Buying an ATM machine

[jabawokee]

-Buy ATM machine from wholesaler - $2079.00 Delivered @ atmequipment
-Put $2000 in it
-ATM gets used 250 times a month on average
-Machine will make $500 a month with $2 surcharge
-Get money back in 4-5 months
-???????
-PROFIT

Only problem I see is finding a place to put it since most places already have one.....

 

[jabawokee]

-Buy ATM machine from wholesaler - $2079.00 Delivered @ atmequipment
-Put $2000 in it
-ATM gets used 250 times a month on average
-Machine will make $500 a month with $2 surcharge
-Get money back in 4-5 months
-???????
-PROFIT

Only problem I see is finding a place to put it since most places already have one.....

 

[diego]

I looked into it before and its def didnt seem as easy as youre making it sound right now.

Info on this wholesaler?

 

[diego]

I looked into it before and its def didnt seem as easy as youre making it sound right now.

Info on this wholesaler?

 

[solewoman]

its good if you can find a location the only thing is its kind of over saturated i think now...but if you can find a location cool beans

 

[solewoman]

its good if you can find a location the only thing is its kind of over saturated i think now...but if you can find a location cool beans

 

[dirtylicious]

Only problem I see is finding a place to put it since most places already have one.....
and that's the biggest problem b/c you'll most likely have to lease out space from the business person to do so.

 

[dirtylicious]

Only problem I see is finding a place to put it since most places already have one.....
and that's the biggest problem b/c you'll most likely have to lease out space from the business person to do so.

 

[aveezythebeast]

Will only $2000 cover all the 250+ usuage?

 

[aveezythebeast]

Will only $2000 cover all the 250+ usuage?

 

[jabawokee]

Originally Posted by aveezytheBEAST

Will only $2000 cover all the 250+ usuage?

If it's in a gas station, transactions will most likely be around $20-$40. 

Also this money is returned the next day to your bank account as people use it. So you keep reusing the same 2k. So if 6 people took out $20 then next day you will have a $120 deposit .

 

[jabawokee]

Originally Posted by aveezytheBEAST

Will only $2000 cover all the 250+ usuage?

If it's in a gas station, transactions will most likely be around $20-$40. 

Also this money is returned the next day to your bank account as people use it. So you keep reusing the same 2k. So if 6 people took out $20 then next day you will have a $120 deposit .

 

[airkeung88]

there's a contract you have to sign with the Bank/service provider and there's a fee for it too.

 

[airkeung88]

there's a contract you have to sign with the Bank/service provider and there's a fee for it too.

 

[crumbs]

The leasing of space will cut that profit greatly, the only way these things are very profitable is if you have many, and like previously stated, this is a lot easier said than done.

 

[crumbs]

The leasing of space will cut that profit greatly, the only way these things are very profitable is if you have many, and like previously stated, this is a lot easier said than done.

 

[jabawokee]

Originally Posted by Crumbs

The leasing of space will cut that profit greatly, the only way these things are very profitable is if you have many, and like previously stated, this is a lot easier said than done.

Sales skills. Owners get pissed when the machine goes down and a lot of companys take awhile to come out to fix it. Let the store know you're local and you'll fix it the same day.
    
Plus I'm saving them money on CC fees.

 

[jabawokee]

Originally Posted by Crumbs

The leasing of space will cut that profit greatly, the only way these things are very profitable is if you have many, and like previously stated, this is a lot easier said than done.

Sales skills. Owners get pissed when the machine goes down and a lot of companys take awhile to come out to fix it. Let the store know you're local and you'll fix it the same day.
    
Plus I'm saving them money on CC fees.

 

[angelzdope]

something else to think about would be how frequently the machines malfunction and the cost to get them back in working order. Definitely an interesting prospect though.

 

[angelzdope]

something else to think about would be how frequently the machines malfunction and the cost to get them back in working order. Definitely an interesting prospect though.

 

[laseventrees]

100 ATM machines @ +$500 per month = $600,000 a year

Would cost about $400,000 to get started,

In 2 years you would have tripled your initial investment

Sounds like a good deal.

 

[laseventrees]

100 ATM machines @ +$500 per month = $600,000 a year

Would cost about $400,000 to get started,

In 2 years you would have tripled your initial investment

Sounds like a good deal.

 

[jabawokee]

Originally Posted by angelzdope

something else to think about would be how frequently the machines malfunction and the cost to get them back in working order. Definitely an interesting prospect though.

If you can fix a computer, you can fix an ATM. Pretty simple inside and when they go down they throw a code telling you whats wrong with it.

 

[jabawokee]

Originally Posted by angelzdope

something else to think about would be how frequently the machines malfunction and the cost to get them back in working order. Definitely an interesting prospect though.

If you can fix a computer, you can fix an ATM. Pretty simple inside and when they go down they throw a code telling you whats wrong with it.

 

[ogcalicat925]

Originally Posted by Jabawokee

Originally Posted by angelzdope

something else to think about would be how frequently the machines malfunction and the cost to get them back in working order. Definitely an interesting prospect though.

If you can fix a computer, you can fix an ATM. Pretty simple inside and when they go down they throw a code telling you whats wrong with it.

true..if have you the diags program to test all components, jams are easy to remove but whats causing the jam is the question?