The Money Mustache Community
Learning, Sharing, and Teaching => Entrepreneurship => Topic started by: the_fella on November 10, 2017, 07:51:31 PM
-
My understanding is that most of the non-bank branded ATMs you see are privately owned. The business typically gets a percentage of the ATM fee. Has anyone done this or does anyone have any suggestions?
-
I can only speak for Australia but some of it might apply to the US. Over here cash transactions are declining quite markedly year on year and there seem to be a lot of players already in the market (bank and non-bank). The move towards a cashless society seems to be gathering momentum. There seems to be a long-term move towards the banks reducing the number of ATM's they have or sharing them with other banks. That would leave the holes to be plugged by non-bank providers. But to me it still appears to be a shrinking market with plenty of established players.
-
I knew someone who does this. He causally mentioned roughly 10-12% returns, if I remember correctly. There is some risk, of course, since your cash is sitting in the ATM. So you'll want to insure against that lose.
The most crucial part is having a public location that wants your ATM. I don't know much about the mechanics of how to get started, however.