Starting an ATM Business
Buying an ATM costs $2,000-$8,000. One machine with $500 fills earns $150 monthly from 300 average monthly transactions, if owning venue too. Owners get commission opportunities. Three to four daily transactions, owners earn $180-$360 monthly.
Optimal Locations for ATMs
Consider the best ATM location? Options are casinos, busy street corners, popular shopping areas, main entrances, highly traveled areas, services for likely users. Numbers vary by city. Owner background plays a role in guidelines development. ATMs located in casinos are ideal because cashing out customers need money. Lobby access outside business hours. Corner location works for smaller stores. Bar and club owners see extra spending income with accessible cash. Though cashless ATMs have bigger fees, software and maintenance costs accompany them.
The Profitability of ATM Franchises
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 ATMs 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 margins vary based on location, transactions, market potential, etc. The return on investment ranges from 33-50% annually.
Requirements for ATM Franchise
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
- Society approval for V-SAT
Required documents are Aadhar Card, Pan Card, and Voter Card. 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.