The addition of an ATM is a great way to serve your customers better and make more money.
However, the size of the investment means that many people struggle to make the right decisions regarding their purchases. It can be very intimidating, knowing that the success of your future income is based – at least in part – on how smart you are as a shopper for your new machine.
The rewards of owning and operating a credit union ATM typically far outweigh the risk, though. Here’s what to know if you are considering adding one to your business:
Why Add an ATM to Your Operation?
It’s no secret that adding an ATM to your operation will provide an additional, valuable service to consumers. This will give people more reason than ever before to patronize your business, regardless of what type of operation you are running. This is particularly helpful to small business owners since they can enjoy a huge uptick in foot traffic and a corresponding boom in business.
Likewise, ATM ownership is a great passive income stream. Charging nominal fees to your users will help you quickly recoup the costs of your investment – and keep making money month after month. What’s more, allowing people to withdraw money within your store or business gives them more money in hand to potentially show your goods and services with, and that’s great for business.
With all of that in mind, it’s no wonder so many business owners feel like they can’t afford to own an ATM!
Understanding the Potential Risks of Shopping for ATM Machines
Did you know that there are no commonly accepted credentials for ATM retailers? It’s true. That means that just about anyone can sell you something that they claim is an ATM. That makes the marketplace a risky one!
While this may sound frightening, the truth is that with a little bit of care and caution, you can find great ATM retailers that are honest in what they offer and provide great quality products. The key is to know the best approach for sorting the bad apples from the bunch. That way, you can spend your time considering pricing, features, and other key elements – rather than worrying about whether your retailer is trying to scam you!
Tips for Smarter, More Secure Shopping
One of the few laws that exist regarding ATM use in the United States is that they must be accessible to any consumer. This is focused on allowing access by those with physical or other disabilities. The Americans with Disabilities Act requires several regulations to be met, including adequate floor space and machine models that make use intuitive and easy for those who are visually or otherwise impaired.
The problem is, many less-than-reputable retailers may try to sell you an outdated model. Even if you are getting it for a reduced price, you will pay later in potential lawsuit settlements, because these models are often not accessibility-friendly. Save yourself the worry and hassle and be willing to invest in an up-to-date machine.
If you are in doubt, ask your retailer for references or reviews. They will likely be happy to provide them to you. This will help you better understand how they have served previous customers and what kind of products and services they provide. It will also help you rest easy knowing that they have nothing to hide.
Buying an ATM for your operation doesn’t have to be an intimidating experience. Invest wisely, and you will be enjoying the passive income benefits for years to come – and making your consumers happier, too!