How they produce passive income: How much money you make depends on how many people use the ATM machine. The more people who use your ATM machine, the more money you will make. It is possible to generate anywhere from $300.00 to $2000.00 per month in net profit per machine. This money is made off of the ATM surcharges. You basically charge the person using the ATM an “access fee”. Typical surcharges are from $1.50 to $2.00 per transaction. The money that was withdrawn, plus the surcharge fee, is deposited into your bank account automatically in less than two days.
How to create this asset: In order to create this asset, you must first do some good research before buying your first ATM machine. You’ll want to brainstorm where you can place them. ATM machines can be placed in places such as convenience stores, night clubs, movie theaters, arcades, small grocery stores, and bowling alleys. Then, contact the owners or managers of the locations you brainstormed, and see if they would be interested in placing an ATM in their business.
ATM’s not only make you money, but they make the business owner money too. Almost $14.00 of every $40.00 that is taken out of an ATM is spent back into the store. You can use that as sort of a sales pitch.
If the business owner or manager agrees to place the ATM machine in his or her store, create a contract and have the owner or manager sign it. Your contract doesn’t have to be long and very technical. Your contract should include items such as the business owner’s commission, how long the ATM is to remain in that location, if the owner is responsible for any damages, and who to contact if the ATM machine is down.
After creating the contract, it is time to purchase the machine. Here is where you have two options: You can either pay cash for the machine, or lease it. New ATM machines with the best security features cost around $3500.00 a piece. If you don’t want to pay monthly payments, then paying in cash is what you should do. If you don’t have the $3500.00, then you should lease the machine. The company that you purchase your ATM from should install it, and teach you how to use it. From there, you’re in business. You’ll need to fill your ATM’s about once a week with cash, and also get them repaired by the ATM company if needed.
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I would like to know how to find the best procssing system and how I go about purchasing the right one for my business