Open Forum

ATM versus excepting credit cards

  • 1.  ATM versus excepting credit cards

    Posted 12 days ago
    I am a coin only laundromat. I am considering upgrading to credit cards or maybe adding an ATM machine. Can I please get some Pros and cons between the two.

    Kindest Regards, 

    Andy S. Akel
    Managing Broker
    Antra Realty Group , LLC
    2950 Halcyon Lane, Suite 205
    Jacksonville, Florida 32223
    Phone: 904-288-6692
    Cell: 904-708-2714
    Fax: 904-288-6691

                                    


  • 2.  RE: ATM versus excepting credit cards

    Posted 10 days ago
    Probably others will speak-up about convenience for clients with accepting credit cards. I approach it from a simple financial point. Adding ATM is the best approach as you are able to make additional revenue with the use of ATM machine. You have to options there, buy your own or work with companies that provide you with one and just give you a portion of profits.We had a provider and just recently purchased our own. You should start with getting one provided by third party first. When they send you the profit share report, they will tell you how many transactions. In a few months you can determine if there is a value for you to get your own machine.

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    Paul Bolkhovsky
    Store Owner/ Employee
    Brooklyn NY
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  • 3.  RE: ATM versus excepting credit cards

    Posted 10 days ago
    Any ATM horror stories to help gauge pros and cons?


  • 4.  RE: ATM versus excepting credit cards

    Posted 10 days ago
    In short, my coin market will do better with a money making ATM than with adding a card application and it's various ongoing costs.  However, know your market as some markets are vice versa.

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    Les Monthei
    Potential Investor
    Redding CA
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