If you want to know how to start an ATM business and make it successful, then this article will prove very helpful.

It reveals some important tips to guide anyone interested in starting and succeeding with an ATM business opportunity.


Why Start An ATM Machine Business?

Why not, right?

Especially when it can be pretty lucrative!

First, this company has paid $25+ million to members:

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If there is one business that is trending for many people and locations today is an ATM business.

This is a business where the owner of an ATM gets paid each time a customer uses the ATM to take out cash.

If you are the owner of the machine, you will receive a convenience fee or charge placed on the machine.

You can receive this convenience fee daily.

Starting an ATM business may seem overwhelming but you can do it if you are thinking of changing a career or starting a new small scale business and succeeding.

Keep reading to find more helpful tips and details that will guide you on how to start an ATM business.


Benefits of an ATM

For the uninformed, an ATM means Automated Teller Machine. This is an unattended machine that dispenses money when a personal coded card is used.

This machine is most often found in front of banks. They are also installed in some strategic places like hotels, markets, malls, restaurants, gas stations, and convenience stores, etc.

The benefits of using an ATM include:

  • Users can make cash withdrawals at any time of the day or night.
  • Users can save the time that would have been used to visit a banking hall for financial transaction.
  • Users can use this machine to transfer money to others.
  • The machine is used to check the account balance.
  • Customers can use this machine to do other transactions like buying airtime or data plan for their phone.

Also See: How to Work at a Dispensary and Immediate Hire Work from Home Offers.


Types Of ATM Machines

There are different types of ATMs you can use for your business. You can decide to install new or used.

Since you are starting, make sure you invest in a new ATM so you avoid running into many repairs associated with used ATMs.

Many companies manufacture and sell ATMs. Some popular brands include Nautilus, Hyosung, and Genmega.

You should choose the type or model that best fits the location of your business

Whatever model or type of ATM you choose, make sure that it is EMV compliant.

ATMs can be standalone, table-top, or permanently installed on the wall. So, choose the best fit for your location.


How an ATM business works

If you are interested in starting an ATM business then you must know how it works naturally.

The following are steps that will guide you on how the business work:

  • Locate a place where you can install an ATM. The place should be where a lot of people go to or visit daily. Examples include bars, malls, convenience stores, gas stations, and nightclubs, etc.
  • Once you have located a convenient place, you then have to negotiate with the owner to provide an ATM. They may likely give you a spot where you will install the machine.
  • Buy and install the ATM at the location. Also, make sure you install its Internet line, cell system, or phone line.
  • Once the installation is completed, you can start to load cash in it. Customers can withdraw cash from the machine.

You will receive a transaction fee known as “surcharge” each time a transaction is made. You should know that the average national surcharge fee is around $3.

Also See: How to Start a Commercial Cleaning Business and Starting a Shipping Business.


11 Steps to Starting an ATM Business


1. Write Your Business Plan

If you are interested in setting up an ATM Machine business then you need a business plan to start with.

This is a summary of what your business would like.

It also reveals the income and expenses estimates for the type of business you are exploring.

A business plan comes in handy and will highlight the strategies you can explore to start and run the business.

This plan will also reveal how you plan to make a profit and how investors would get a return on their investment.

Also See: What Happens to 401k When You Stop Working?


2. Form a Business Entity

After creating a business plan you should form a business entity.

You can register your business as a sole proprietorship, partnership, or limited liability company.

The type of business entity that you choose would be a function of how liable you want your asset to be in the event of liquidation.

The business entity decision may also reveal whether you are would be starting the business from the scratch or you would be franchising.

Also See: Best Business Ideas to Start with Low Investment.


3. Name the Business

Choose the right name for the business.

You can check the state records to pick a name that is not used by someone else.

Register your name with the right authority in your location.

Again, this company has paid $25+ million to members:

SurveyJunkie (only USA, Canada, Australia residents allowed). You can earn money sharing your thoughts. They have already paid $25+ million to their 20+ million members just for sharing their thoughts and opinions. Click here to join SurveyJunkie for FREE

Also See: Advantages and Disadvantages of a Company Corporation.


How to Start an ATM Business


4. Select Your Location

You can then choose a location where you can install the machine.

Your location choice would be a public place where a lot of people come to buy, eat or do business.

The ideal location for this business includes places like bars, restaurants, hotels, gas stations, etc.

Also See: How to Start and Run a Carpet Cleaning Business.


5. Apply for Business Licenses and Permits

You can apply for local licenses and permits that would allow operating your ATM business in the location you have chosen.

You may be required to get both local and federal permits in some states.

Make sure you get all the standard permits before you can start operation.

Examples of these permits include ATM vendor permit, occupancy permit, Employer Identification  Number, and more.

Also See: Best USA States to Form an LLC for a business like Knitting Business.


6. Find  the Financing

You will have to incur some startup costs when you start an ATM business.

This includes the plenty of cash you will need to stock the machine.

If you have savings then it would be good to invest them in this business.

However, you can still go for other financing options if your saving is not enough.

You can get a business loan to help you with the startup costs.

Of course, you will need to have good credit before you can access a loan.


7. Open a Business Bank Account

You should separate your business account from your account.

For this reason, open a business bank account for your ATM business.

You will be able to track your business’s income and expenses when you open a business checking account.

Also See: How to Buy Silver Dollars from a Bank.


8. Get Your Marketing Plan in Place

An ATM business needs strong marketing so that people can patronize it. You need to put a good marketing plan in place.

Your marketing plan should help you connect with the location owner so you can easily secure the spot to launch  and operate the ATM

You can employ different marketing strategies to attract locations owners and customers.

These include online marketing,  email marketing, word of mouth, phone calls, social media marketing, etc.

If you put more messages out there, then you are more likely to attract more customers.


9. Get Business Insurance

An ATM business is a risky business. For this reason, you need several types of insurance coverage against loss or damage.

You should plan for and get insurance coverages associated with this business.

Some of the available ATM-specific policies you should take advantage of include:

  • General Liability Insurance – This will help protect the business if a vendor or ATM customer is injured while using the machine.
  • Commercial Property Insurance – This protects the business from damage or loss as a result of a fire incident.
  • Commercial Auto Insurance – This covers the vehicles used by the business in the event of an accident.
  • Worker’s Compensation Insurance – This is insurance coverage on medical bills and legal fees if an employee gets injured on the job.
  • Atm Insurance – This insurance covers and compensates for the damage or loss of the ATM or the lodged inside.
  • Cash And Valuables In Transit Insurance – This is insurance coverage protects the business against loss of money that could occur while being transported, processed, or stored. So, you must signup for different insurance coverages for your ATM businesses. Compare insurance companies to get the best fit.


10. Hire Employees

You should hire employees to assist you to provide ATM services in different places.

You alone may not be able to accomplish this task but having trusted employees will help you render services and increase profits.

That said, plan for employee recruitment. Follow legal and industry standards to hire and compensate staff.

Also See: Best High Paying Jobs for 18 year olds including Amazon Data Entry Work.


11. Set up an Accounting System

You need to set up an accounting system for your ATM business. This is to ensure you can keep track of income and expenses.

Also, this system will help you stay on top of taxes. You will know what your profits are in a period and the taxes accrued to the period.

Your ATM business should provide you with clear accountability of your cash flow, assets, and liabilities.

Ultimately, you should be able to make better decisions in the future.

Related: How to Earn Money as a Bookkeeper.



As this article has shown, it’s not that hard to start and succeed with an ATM business, if you know what to do and how to get started right.

Thankfully it revealed some of the very important aspects to doing things right with an ATM business.

Again, this company has paid $25+ million to members:

SurveyJunkie (only USA, Canada, Australia residents allowed). You can earn money sharing your thoughts. They have already paid $25+ million to their 20+ million members just for sharing their thoughts and opinions. Click here to join SurveyJunkie for FREE