To start an ATM business, you need 50-80 sq. ft space, 100 meters from other ATMs, a 24-hour power supply, a 1 kW connection, and society approval for V-SAT. The ATM machine costs $1,000 to $10,000. Used machines are cheaper but slower. Freestanding or countertop models affect 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. At $2.50 per transaction, an ATM earns $20 daily.
You must fill the ATM with cash as the owner, or a third party can handle this responsibility. Proper planning and execution lead to a successful ATM business. First, choose a name and make a business plan.
To improve profits, reduce expenses and increase revenue. Location affects costs most significantly. Rent could be over $80,000/month in some areas or under $1,000 in others. Consider hiring staff to service machines across a large area and review their background thoroughly.
To get an ATM franchise, pay a Rs. 2 lakh security deposit and invest Rs. 3 lakh operating capital. In India, only 25 ATMs are available per lakh people. You get Rs 8 on every cash transaction and Rs 2 on non-cash transactions. The profit margin varies based on location, transactions, market potential, etc. The return on investment ranges from 33-50% annually.
To get an SBI franchise, you need the same prerequisites as starting the ATM business. Required documents include Aadhar Card, Pan Card, and Voter Card, and you should guarantee 300 transactions daily.
Muthoot Finance provides ATM franchises under Orange Booths, increasing profits and access to cash with Muthoot’s network and technology.