I installed my first ATM 2 1/2 years ago and my second 3 months ago. Same as Larry's, a through the wall model right beside my changer.
My average withdraw is about $35. I have a limit of $100 a day.Your regular customers will know that you have the ATM and a changer, it's mostly the one time user that may be upset about not having a CC reader on the machine.I'd be interested to hear the % of sales that the CC on the machine has. I'm sure it varies by area but I wonder the the average is.I'm not against the CC on the machine and I have looked at almost all of the brands available from bare bones to bells and whistles and may one day add them but it becomes a business decision as there is a lot of money involved. If I did add them I would still have the paid off ATM that wouldn't cost much to run.
I think one of the factors I would use would be the history of each system and if they were capable of being upgraded or just replaced. Think of the ones that were bought a few years ago that don't take Apple Pay or other options.As an example I have some 9 year old dryers that have a Maximum Flat Rate setting lower than I want, they also scroll the minutes and seconds remaining (which was dumb from the start). I asked one of the software guys at the manufacturer if they offered an upgraded chip and was told "No, you have to buy new dryers". I'll probably never buy from that manufacturer again as instead of supporting their older equipment (what's the retail on a chip ? $100? for a $1 chip?) they just move on and leave the older customers behind.I'm not a software programmer but surely it's not that hard to do, and you only have to do it once to upgrade hundreds? thousand's? of existing equipment.Now I'm going to go bag up a few hundred dollars in tokens to give away at my Grand Opening. And yes people are more excited by $100 in dollar tokens they they are by a piece of plastic with $100 on it.
I'm not sure that I'm adding 25 or 30% but my life is better. I've been doing this since 1985 and I have a day job. I know I'm getting more sales because the customers are spending more freely. And I don't need to fill the change machines as often. I also have an accurate count of sales, even when I'm out of town and trust my brother in law to an accurately count of my quarters! I know he is honest but no one does what I do the way I do it!
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