If you run a small business, whether a restaurant, a grocery store or a gas station and you do not operate an ATM, you are missing out on an easy side hustle.
Apart from the passive income, you stand to gain, operating an ATM at your business is easier and less complicated than your cash register or even better than running a merchant account for debit and credit card processing.
If you are reading this article, then you must be a smart business owner looking to increase your revenue. Operating an ATM can help you achieve that additional income. This will also help you retain your customers since they know that they can get cash at your store and would rather patronise you than go elsewhere. An ATM is a good side business to invest in if you are looking for some extra income to support your business.
Your Business Gets more Traffic, More Sales, More Revenue
Operating an ATM will attract more foot traffic to your store or restaurant. Customers usually look out for businesses that concern themselves with giving customers a good experience. So they are more likely to spend more at your establishment if you operate an ATM. These days, customers are spending more cash than credit, no thanks to the credit crunch. So, making cash easily available to them will only help your bottom line. It’s simple logic – operate an ATM and enjoy an increase in traffic, which translates to an increase in sales and more revenue.
ATM Plans Are Flexible
Most ATM companies offer business the option to buy, lease, or rent ATM machines. So if you are considering operating an ATM at your business, you can start off with a plan that is easy for you and move on to another if you feel comfortable about it. It is just a matter of choosing a plan that best suits your business needs.
Increase in Sales
Increased sales mean better profits. Research has revealed that having an ATM at your business was can increase sales by as much as 50% of the total amount cashed from your ATM. Even better if your business is located in an area where there is a lot of foot traffic. So, yes, having an ATM can be very profitable.
Lower Credit Card Processing Fee
Many businesses usually pay a high credit card processing fee. While this can be considered a necessary cost that is attached to doing business, because credit and debit card payment offers your customers some convenience, but lowering that amount means that you will keep more money within your business. This is one thing that operating an ATM at your business can do for you. It is also a win-win for you and your customers because they can pay for their purchases with cash, and your business does not have to incur card processing fees.
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