ATM machines are increasingly becoming popular anywhere in the world. Consumers prefer to use the ATM machine for their financial transactions rather than go straight to their banks. These machines will be in use for many decades to come because they save time, money and effort. If you are thinking of an easy business with minimal cost to maintain, then consider investing on ATM wholesale.

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.

Once you have made the decision of investing on an ATM machine, you need to consider how you can enter this business. Do you intend to own, rent or lease? Do you have a good location in mind? If you decide to own one, remember that there are additional costs every month, the highest of which is the maintenance cost. These costs include mostly the maintenance fees, staff wages, if you are employing people, transportation costs and other incidentals.

Some ATM companies are set up as franchises, while others allow you to rent their machines for a monthly fee. Although choosing a franchise means a higher initial investment, you get benefits from the franchise parent company such as help in finding the best locations, assistance in managing the business, bookkeeping and maintenance of the machines. Usually, you can get parts and services cheaper from companies selling wholesale ATM machines.

If you’re really keen on starting this business, the first thing to do is to look for the right supplier for ATM machines. Choose a supplier that can offer you both new and pre-used machines so that you have plenty of options to choose from. Ask about the terms and conditions of the sale and inquire about the quality of post-sale services that they provide. Remember, the best supplier may not always offer you the cheapest machines, but it is someone who can add value to your investment.

Be careful about buying pre-used ATM machines that you may find cheap in internet auction shops. Some of these machines are not password encrypted and you may not be able to use them. Today’s machines are encrypted so as to safeguard the consumer’s transactions. Remember to deal only with suppliers with good track records and have earned good feedback from their customers.

Once you have chosen a good brand, ask about the terms of the sale carefully as you may be required to sign a long-term processing agreement, which is not really necessary. The longest processing agreement that you should sign should only be about 2-3 years. Ask about other ATMs owned by the seller and observe how these are doing.

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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