ATM machines have become indispensable in today's economy. People all over the world prefer to use these machines to draw out money for their daily needs, rather than go to the banks where lines can be long and transactions can take so much time. For sure, these machines will be around for a long time because of the convenience they provide consumers. If you have been offered to go into the ATM wholesale business, there are a few things you would need to consider before you dive into it.
ATM machines are found in many other areas aside from banks, where they were traditionally placed. Nowadays, these are commonly found in high traffic areas such as shopping malls, hospitals, schools, drugstores and supermarkets. If you are seriously considering buying an ATM machine and putting it somewhere that will attract a lot of customers, the first thing you need to consider is the location.
If you have decided on starting this venture, there are a few considerations that you have to remember. First, you need to decide how you can purchase an ATM machine. Some suppliers only ask for cash to pay for the purchase, while others are more flexible and may offer you a payment plan. Also, there are some suppliers who will offer you a franchise agreement. This could mean profit sharing or the franchiser may just ask for royalties. Remember also that there are other incidental costs such as set up costs, maintenance fees, staff salaries, etc.
Others may offer a franchise agreement where you need to pay an upfront franchise fee. Although this may mean spending more initially, you will get some benefits from the franchiser such as maintenance assistance, business training, and help in looking for the right location for your machines. You also get some discounts for supplies as a franchisee.
Find a good ATM company who provides not just the machines but also post-sale services. There are some companies that sell both new and second-hand machines and also give you options such as a direct purchase or lease. Be careful on choosing your ATM supplier, as the cheapest source is not always the best one.
Take care not to buy second hand ATM machines that are sold on internet sites. Many of these old machines do not have the capacity for password encryption, like the new ones have. You may be buying junk, so assess the machine carefully before you buy. Password encryption is important because it secures every transaction. Try to get only ATM machines that come from reputable suppliers.
After choosing a good supplier, get a copy of the agreement before you sign. Some suppliers may require you to sign a long-term contract, while others may just ask you to sign up to 2-3 years. Find out how much are the fees and other incidental costs that you have to pay prior to installing the machine on your chosen site.
Whenever your ATM machine breaks down, you lose not just from the transaction fees but also your clients. Look around for at least 2-3 ATM machine suppliers before you work with one. This is just to make sure that you will be in business with a company that is reliable. Also, remember to ask the supplier for daily transaction reports and a breakdown of the initial fees, just to make sure that there are no additional hidden costs.
ATM machines are found in many other areas aside from banks, where they were traditionally placed. Nowadays, these are commonly found in high traffic areas such as shopping malls, hospitals, schools, drugstores and supermarkets. If you are seriously considering buying an ATM machine and putting it somewhere that will attract a lot of customers, the first thing you need to consider is the location.
If you have decided on starting this venture, there are a few considerations that you have to remember. First, you need to decide how you can purchase an ATM machine. Some suppliers only ask for cash to pay for the purchase, while others are more flexible and may offer you a payment plan. Also, there are some suppliers who will offer you a franchise agreement. This could mean profit sharing or the franchiser may just ask for royalties. Remember also that there are other incidental costs such as set up costs, maintenance fees, staff salaries, etc.
Others may offer a franchise agreement where you need to pay an upfront franchise fee. Although this may mean spending more initially, you will get some benefits from the franchiser such as maintenance assistance, business training, and help in looking for the right location for your machines. You also get some discounts for supplies as a franchisee.
Find a good ATM company who provides not just the machines but also post-sale services. There are some companies that sell both new and second-hand machines and also give you options such as a direct purchase or lease. Be careful on choosing your ATM supplier, as the cheapest source is not always the best one.
Take care not to buy second hand ATM machines that are sold on internet sites. Many of these old machines do not have the capacity for password encryption, like the new ones have. You may be buying junk, so assess the machine carefully before you buy. Password encryption is important because it secures every transaction. Try to get only ATM machines that come from reputable suppliers.
After choosing a good supplier, get a copy of the agreement before you sign. Some suppliers may require you to sign a long-term contract, while others may just ask you to sign up to 2-3 years. Find out how much are the fees and other incidental costs that you have to pay prior to installing the machine on your chosen site.
Whenever your ATM machine breaks down, you lose not just from the transaction fees but also your clients. Look around for at least 2-3 ATM machine suppliers before you work with one. This is just to make sure that you will be in business with a company that is reliable. Also, remember to ask the supplier for daily transaction reports and a breakdown of the initial fees, just to make sure that there are no additional hidden costs.
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