How To Start An ATM Business

Author: John Alson
Updated on March 08, 2021


Having a passive income business that could generate money for your while you are sleeping is the goal of investment for your retirement plans. There are several different ways to have passive income investments and most of them require some money to invest in the beginning so that money can start working to earn more money for yourself. This could be real estate, owning a business, dividend investment, and many more. However, whatever you do, there is always a minimum of work you have to give your time to. In real estate, you have to take care of the apartment, if you own a business you have to check the books from time to time, etc. One of those passive income investments is starting and owning an ATM business. Owning an ATM business depending on how many machines you will operate needs less money than the other investments we have talked about. Moreover, there are not many things you have to look out for apart from a necessary couple of things.
In this article, we are going to talk about how to start an ATM business, its costs, and some tips about maintaining that business.

Starting Your Business

The first thing when someone wants to start investing in something or start a business, they look for the costs involved. When you want to start an ATM business, the costs are slightly lower than other types of investments or businesses that produce an income for you. However, this depends on how many ATMs you want to have and make it work. On average, an ATM’s costs are around 2,000$ and 10,000$, and you should keep at least 2,500-3,000$ in the machine for circulation. The prices depend on the features, quality, and other stuff of the machines. Apart from an ATM machine, you will need an insurance policy, some knowledge and tools to maintain the machines when needed, and a vehicle that you could go around to check the machines and carry the cash just in case. When you look at it, the most expensive thing on the list is the ATM machine, as it is supposed to be. These are the startup costs for your ATM business. There are also ongoing costs that you have to pay weekly or monthly.

As we have mentioned, the cash that you stuff inside the machines for circulation has to be loaded on a rotating basis and should be checked out all the time. Apart from that, since you will be agreeing with a bank to use their ATM, you have to pay a fee to that bank, and that fee depends on your agreement with the bank. It could be high or low or per transaction. You also need to pay rent where you put your ATM to. These are some of the ongoing expenses you will have when you start your ATM business, but they are not too much, so they do not take up too much of your money, but it depends on the deal you make with the bank. If the fees are high, it might be a problem, so know your deal well enough and act according to that.


You will also have your profits from your ATMs, but how do you make those profits? There is a fee you take from the customers who use your ATMs which a fee that you charge per transaction. Even though it depends, on average the fees are around 2.00-3.00$ per transaction. When you look at it, if your ATM is in a good location and many people use it, there is a huge potential of bringing a good revenue. In fact, many ATM business owners report an average of 500$ of revenue per month, per ATM machine. If you own five ATM machines, that would be around 2,500$ of revenue per month which basically equals a monthly wage. Without having to do too much, you earn at least 500$ per month.

To use your ATMs to their maximum potential, knowing the places you put your ATMs and researching it beforehand to make sure that ATMs are really used in that location is the key. Talk to people who do this business, hear out their experiences, study your city and certain locations and it might be hard but if your ATM is not getting enough people, try changing the location after you put it. If you are sure that the new location will work, it will be worth changing it. Once you hit a certain amount of revenue with several ATMs, you can even hire people to do the work for you. Like maintaining your ATMs, checking out if they are okay, and other necessary things. This way, you will have a business that works without you having to do too much work.

As you can see, starting an ATM business is easy and does not have too many startup costs when you compare it to other types of businesses or investments you make for passive income. Before you start the business, there are some things you must know in order to make the best out of it in terms of the revenue you will get. The most important thing is to know have some technical background because if your ATM gets broken or something happens, you need to be able to handle it yourself if the problem is not too big. The other thing is to know the area you will be putting your ATM in. When it is ATMs, all you need is a convenient location where many people do not have any other alternatives than to use your ATM. That is why you must know the area and study it well enough to know where you will be putting your ATM. Once you master these little details and start buying your ATMs, you will start your ATM business easily without too much problem. Having this business is a great way to create a passive income for your life without too much trouble.

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John Alson

About the Author: John Alson

John Alson is an experienced business consultant and a contributing editor at He has extensive experience in business strategy and planning, sales management, marketing, business development, and corporate communications. He has been involved in a variety of public and private sector roles including management consultant, project management and marketing manager, and is now focusing on sharing his knowledge and experience with the community through the