Even in a digital world, cash still plays a massive role in the economy. When people need cash quickly, they turn to an ATM – if they can find one. In some areas, ATMs are hard to find, where an ATM franchise could become a lucrative venture. Placing ATMs in areas that aren’t currently served, and collecting the fees on the transactions that run through those machines, can become either a worthwhile side hustle or a full-fledged business.
With so many franchise business options available, you may find yourself overlooking the potential in the ATM market. This is not a traditional business model, like opening a restaurant or a retail store. There is a lot of potential here, however, and one of the best things about the ATM business is the possibility of running it part-time at the start. Rather than an all-consuming venture that requires you to drop everything and dedicate every waking hour to the business, you can start gradually and build up as profits start to roll in. In fact, you might not even have aspirations to make this a full-time gig – keeping it as a side job may be a nice source of relatively passive revenue for years to come.
Without a doubt, the biggest hurdle to finding success in the ATM business is picking out the right locations for your machines. You’ll need to explore countless potential locations before you land on some winners, and you will have to get comfortable negotiating with landowners or property managers to work out a deal that serves both of your interests. Finding the right spots for your ATMs is a skill you can develop over time, so don’t be surprised if you start seeing opportunities everywhere once you get the hang of it.