1: Has your store sales taken a dip in recent months and you are getting a bit worried?
2: Are you looking to add consistent extra income every month to supplement your main business?
3: Have you been wondering lately if your store is lacking the required customer foot traffic?
You can make use of the many benefits of an ATM machine, to address most of these concerns. An ATM installation can help diversify your income streams and provide you with a steady cash flow along with your main business; be it a convenience store, store in a shopping mall, or even restaurants, clubs and bars.
The most obvious way to make money, by having an ATM on your premises, is through the ATM fees or surcharges that ATM users pay for using the machine. Outside customers from the neighborhood or pedestrians in the neighborhood in need of quick cash will start using your ATM services. Moreover, your regular clients will use the ATM every now and then, when they come to buy stuff from you. If you have bought the ATM machine outright, you can set the ATM fees as much as you want. By charging any reasonable convenience fee, you expect to make a few hundred dollars at least from the first month without any hassle, going in to 4-digit income after a while, when people start noticing your ATM installation. The amount of money you make off the transactions, depends on the foot traffic and number of customers you attract to your store or location.
Gone are the days when people used to carry a lot of cash on them. Nowadays, one cannot imagine going a day or two without using an ATM for quick cash withdrawal, especially for the younger millennial crowd. This group includes college students or young professionals, who do not like the idea of carrying too much cash. Some people have resorted to using credit cards only when it is absolutely necessary, because they don’t want to rack up their credit card debt, even for routine purchases. And when they need cash to buy something at the neighborhood market or store, they want cash available through ATMs in close proximity.
Apart from this primary income stream from ATM fees, the less thought-of reason to install an ATM is the increased exposure you will get through an ATM machine placement. An ATM machine at your retail location can add to your current sales by having more people walking in through the door. There are many tools you can use to increase the footfall into your store and having an ATM is proven to be one of those marketing ploys. If people have access to reliable ATM services in your store, they are more likely to use it again when need be. When they have cash in hand, they might buy something from your store if they happen to like something the see. As a store-owner, you may put selected items on display close to the ATM, so that the people who come in just to use the ATM, might catch a glimpse of some of these products.
Let’s take an example of a mall store, which carries men’s clothing and apparel. The target audience here is primarily male adults. But with an ATM machine installation, you might get a few female in to the store who might want to make use of your ATM machine and may end up buying something for their family, boyfriend or spouse.
Reasons for having an ATM installed in your store
o ATM fees per transaction every time your ATM is used for cash withdrawal
Or if this store is an art store. People may walk in and may see something amazing that they may like and end up purchasing some pieces of art on sale. If they are satisfied with your product, that’s two birds with one shot. They will remember the store in the mall with the ATM machine and might end up recommending it to a friend or a colleague at work.
A smart strategy and marketing tactic can be deployed with the correct placement of ATM machine, to improve or add to your main business, without doubt. It will go a long way in ensuring that pedestrians or customers notice that you have an operational ATM installed in your premises. If you have a see-through glass window, you may want to put your ATM there so that people passing-by can notice it straightaway. If you have a convenience store or 24-hour mart with ample space outside the store, you can place your ATM outside for increased visibility and ease of access for ATM costumers. If you are planning to have an ATM in a mall store, restaurant or pub, you may want to place a neon sign or any noticeable elevated sign, to attract customers for the available ATM services at your location.