Initial Investment and Costs
To start an ATM business, you need 50-80 sq. ft space, 100 meters from other ATMs, 24 hour power supply, 1 kW connection, concrete ceiling and society approval for V-SAT. It needs a concrete roof and society approval to install 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. ATMs average 6-10 transactions daily. At $2.50 per transaction, an ATM earns $20 daily.
Operational Details
You must fill the ATM with cash as the owner. A third party can also carry this responsibility. Proper planning and execution leads 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. 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. Review their background thoroughly as they will handle cash.
Franchising Options
You can apply for the ATM Franchise online by visiting official websites of all companies. To get an ATM franchise, you need to pay Rs. 2 lakhs as security deposit and invest Rs.3 lakh operating capital. In India only 25 ATM are available per lakh people, lower than the world standard. 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 SBI franchise, you need 50-80 sq. ft space, 100 meters from other ATMs, 24 hour power supply, 1 kW connection, concrete ceiling and society approval for V-SAT. Required documents are Aadhar Card, Pan Card, and Voter Card. The ATM must be in a 50 to 80 sq ft space, 100 meters from other ATMs, with 24 hour power supply and a 1 kW connection. It needs a concrete roof and society approval to install V-SAT. You should guarantee 300 transactions daily.
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.