To get an ATM franchise, you need to pay Rs. 2 lakhs as security deposit and invest Rs.3 lakh operating capital. The ATM must be in a 50 to 80 sq ft space with a 24-hour power supply and a 1 kW connection. Required documents are Aadhar Card, Pan Card, and Voter Card. You should guarantee 300 transactions daily.
Muthoot Finance ATM Franchises
Muthoot Finance provides ATM franchises under Orange Booths. With Muthoot’s network, technology and banking services, the ATM franchise makes accessing cash easier for customers and increases profits.
Market Statistics and Profitability
In India, only 25 ATM are available per lakh people, which is lower than the global standard. The profit margin varies based on location, transactions, market potential, etc. You get Rs 8 on every cash transaction and Rs 2 on non-cash transactions. The return on investment ranges from 33-50% annually.
To start an ATM business, apart from the space and power requirements mentioned earlier, you need to be 100 meters away from other ATMs, have a concrete ceiling and society approval for V-SAT. The ATM machine costs $1,000 to $10,000. Used machines are cheaper but slower, and the choice between freestanding or countertop models affects the price.
You should prepare $3,550 to $11,100 for your initial investment. Additional costs include maintenance and features like eLock. Most ATMs charge $1 to $3 per transaction. ATMs average 6-10 transactions daily. At $2.50 per transaction, an ATM earns $20 daily.
As the owner, you must fill the ATM with cash, although a third party can also handle this. With proper planning and execution, an ATM business can be successful. Begin by choosing a name and creating a business plan.
To improve profits, it’s crucial to reduce expenses and increase revenue. Location greatly influences costs; for example, rent can range significantly from over $80,000/month to under $1,000. If you’re managing machines over a large area, consider hiring staff and thoroughly review their background, as they will handle cash.
Applying for an ATM Franchise can be done online by visiting official websites. The profitability and start-up costs of owning an ATM have been discussed earlier, as well as the requirement for Aadhar Card, Pan Card, and Voter Card when it comes to documentation.
For an SBI franchise, the space and infrastructure requirements are the same as stated earlier, and you must ensure a minimum of 300 daily transactions.
Muthoot Finance’s franchise opportunity under Orange Booths is reiterated here, highlighting the ease of access for customers to cash and profitability for the franchisee.