Having an ATM installed at your place of business helps draw in more foot traffic. Better foot traffic means more chances to improve your revenue. If you’ve been looking for a way to improve your earnings, but don’t have too much time to invest in managing that side-business, then think about getting an ATM. Before you shop around, here’s some useful buying advice to keep in mind.
Check It’s Right for You
Owning an ATM is a good move. But first, make sure it’s a good addition to your business. For instance, if you have a shop or restaurant, installing an ATM machine right at the entrance of your store is a must. That way, when customers step inside to use the machine, they can see the items you sell already. With the right ads and campaigns, it shouldn’t be difficult to get people to walk from the machine to your store. Once there, there’s a bigger chance that they’ll spend time shopping around.
Consider the Traffic
Do you have wonderful foot traffic to your location? Then you can leverage that by adding an ATM to your shop. You can take advantage of the foot traffic that way. If your business already attracts a lot of customers, having an ATM that offers easy and convenient access to their cash will encourage even more shoppers to visit your place of business.
Calculate the Cost
How much will the machine set you back for? How much are you willing to spend? Determine your budget and check if you can afford the cost. Make sure you look beyond the price tag, though. High prices don’t always mean better options. There are plenty of ATM machines, brands, and models out there that are right for your business, even if they aren’t the most advanced or the newest, even if they don’t pack a ton of features.
Think About What You Need
Some ATMs are so basic that they only allow customers to check their balance and withdraw money. Some models, though, come with features that make it possible for customers to deposit money, update their passwords for their online banking accounts, and more. You could always go for a basic model without the bells and whistles. Not every business needs an ATM that’s super-advanced. That could be a waste, too, if all that your customers need is a basic unit. So, keep that in mind.
Choose Co-Op ATMs
You can also choose co-op ATMs. This is an ideal option for a store or property owner. If you want to own an ATM, but you want to split the costs and liabilities, you can do that with an ATM distributor. Not all distributors offer this option, though, and since it’s a fairly new concept, it might also take some time for you to warm up to the idea. That’s why research is crucial. That way, you can avoid making any mistakes before you operate an ATM, whether it’s one you own exclusively or through a co-op.