- Startup Costs of ATM Business
- Initial Investment: $3,500 to $11,000
- Average Startup Cost: $7,300
- Earning Potential
- Transaction Fees: $1 to $8 per transaction
- Commission Opportunities: $180 to $360 monthly
- Best ATM Locations
- Ideal Places: Casinos, busy streets, popular shopping areas
- Considerations: Where foot traffic is lacking
In this comprehensive article, we will delve into the world of Automated Teller Machines (ATMs), How Much Does an ATM Cost, the process of starting an ATM business.
Vaulting services manage the refilling of your ATM for you. They use the following ATM price example:
They subtract those costs from the monthly revenue, which they assume will be $3 per transaction and 500 transactions per month. Effectively, their example means you are paying approximately 17% of revenue to operate the machines.
You could start by researching the industry and learning about the different types of ATMs, the best locations for ATMs, and how to manage and operate an ATM business.
Whether or not owning an ATM is worth it for an individual or business will depend on a variety of factors. It can be a lucrative business opportunity if the operating costs are low, the location is ideal, and there is a profitable number of transactions.
The cost of opening an ATM business can vary based on several factors. However, for an ATM business you can expect to spend $62 to $35,923 with an average cost of $19,267.
Although it does not apply to all cases, it is common practice that you pay a commission or fixed fee to the business owner for letting you place an ATM there.
On average, it’s reasonable to pay $2,000 to $2,500 (or the equivalent in your local currency) for an ATM.
Typically, an entry into the ATM industry can commence with an initial outlay of $3,590, encompassing the expense of a single ATM unit at $3,090, coupled with an allocated cash reserve of $500.
Daniel said self-service or buying your own ATM is very profitable, and between 15 and 30 transactions a month yield a high return. “[It’s] a great secondary source of income that could equal between anywhere between $20,000 and $30,000 extra per year,” he said.
Overall, you can expect to pay about $3,000 to $4,000 to start an ATM business. These costs are divided between the cost of the machine itself, internet connectivity, cash reload fees, and relevant vendor fees.