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Is The ATM Wholesale Business The Right Investment For You

Friday, March 21, 2014

By Gwen Lowe


ATM machines are increasingly becoming popular anywhere in the world. Consumers prefer to use the ATM machine for their financial transactions rather than go straight to their banks. These machines will be in use for many decades to come because they save time, money and effort. If you are thinking of an easy business with minimal cost to maintain, then consider investing on ATM wholesale.

Nowadays, you don't just find these ATM machines in banks or other financial institutions. You'll find them in supermarkets, drugstores, convenience stores, shops and other places where there is high traffic. Thus, if you have a store or you know of a location where people often go, you can use this opportunity to set up an easy business that does not demand much of your time.

If you have decided on starting this venture, there are a few considerations that you have to remember. First, you need to decide how you can purchase an ATM machine. Some suppliers only ask for cash to pay for the purchase, while others are more flexible and may offer you a payment plan. Also, there are some suppliers who will offer you a franchise agreement. This could mean profit sharing or the franchiser may just ask for royalties. Remember also that there are other incidental costs such as set up costs, maintenance fees, staff salaries, etc.

Others may offer a franchise agreement where you need to pay an upfront franchise fee. Although this may mean spending more initially, you will get some benefits from the franchiser such as maintenance assistance, business training, and help in looking for the right location for your machines. You also get some discounts for supplies as a franchisee.

An ideal ATM supplier is one that not only sells you the machines, but also provides post sales services. Some companies can give you both direct purchase or lease-to-own options. Consider all these options before you sign the agreement. Keep in mind that the cheapest machine may not be the best one to buy, as these may have problems or the company may provide poor customer service.

Take care not to buy second hand ATM machines that are sold on internet sites. Many of these old machines do not have the capacity for password encryption, like the new ones have. You may be buying junk, so assess the machine carefully before you buy. Password encryption is important because it secures every transaction. Try to get only ATM machines that come from reputable suppliers.

Read the terms of the sale agreement carefully before you sign up. Some suppliers will make you sign contracts that are longer than necessary. Keep in mind that most agreements only go for 2-3 years. Before you sign up, observe some of the ATM machines that the supplier is selling, if they are doing well in their locations.

Remember that if your machine breaks up frequently, you will be losing business everyday. Consider 2-3 ATM machine suppliers and study what they are offering before you buy a machine. Make sure the company will give you a daily transaction report and hat there are no hidden fees that you are not aware of when you sign the agreement.




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