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re: Anyone here ever run an ATM business or know someone who does?

Posted on 11/15/16 at 2:46 pm to
Posted by dabigfella
Member since Mar 2016
6687 posts
Posted on 11/15/16 at 2:46 pm to
Baldona someone pays me for the ice machines as well. Here is what happens, most stores they force them into long leases on all these machines like 20+ years for me, I found a loophole in that the contract for the ATMs was signed previously by a cashier who never worked for me but the previous owner so I got out. I imagine most owners have no clue what these machines make I know I never did till a friend of mine who had a few in bars and other places told me. For me I had businesses to run and I figured a few dollars from the ATM + ice machine + air machine was not something worth my time. Today I know that's not true and 5 atms is easily $5000+ a month total alone. The air machines I don't think make too much so I'm not worried about that, and the ice bags I also don't want to get involved with bc I get paid either way only on what sold and lots get stolen and it's not my problem. In theory most stores will probably make say $400/mo between ATM payments + ice payments + air machine id imagine at a minimum so most probably would rather not deal with headaches of owning/maintaining them. Knowing what I know now, there's a reason companies will pay you $200/mo to put an ATM at your store and its that's for $2400/year they probably net $3600/year at a minimum
Posted by NewIberiaHaircut
Lafayette
Member since May 2013
12537 posts
Posted on 11/15/16 at 2:46 pm to
quote:

Who uses an ATM away from their bank?


I do. I travel to places where my local bank doesn't have a branch. I also get reimbursed the ATM fee so I get my cash and didn't have to spend money on gum or go into a store or pay a fee.
Posted by OweO
Plaquemine, La
Member since Sep 2009
122522 posts
Posted on 11/15/16 at 2:49 pm to
Get a few video poker machines. They make more.
Posted by FishinTygah84
LA
Member since Dec 2013
2036 posts
Posted on 11/15/16 at 2:54 pm to
bad idea unless you have 50k up front. I worked at a bank and had 2 customers who ran independent ATM's. Every Friday they came in needing like 30-40k in 20's to stock their machines. I'm sure there is money to be made somehow, but i never saw them making a killin. To me, the worst part of the job was packing around that much money all the time.
Posted by dabigfella
Member since Mar 2016
6687 posts
Posted on 11/15/16 at 2:59 pm to
$30-40k means they had crazy machines. I own a store that's probably one of the busiest stores in Houston in terms of gross sales and the ATM does like $27k/mo in dispensed cash, most average like $10k/mo tops, I just checked.
Posted by baldona
Florida
Member since Feb 2016
24439 posts
Posted on 11/15/16 at 3:28 pm to
quote:

Every Friday they came in needing like 30-40k in 20's to stock their machines. I'm sure there is money to be made somehow, but i never saw them making a killin


Those don't compute man. You are saying they are doing 160k/ month in ATM withdrawels and they aren't making money? I'd say they are making a killing.

I'd bet most people that use those pull out $40-80 at a time. That's a complete guess, but those are usually for quick cash and not the maximum of $400 or whatever.
Posted by jimbeam
University of LSU
Member since Oct 2011
75703 posts
Posted on 11/15/16 at 3:32 pm to
That's pretty good money I'm willing to bet
Posted by FishinTygah84
LA
Member since Dec 2013
2036 posts
Posted on 11/15/16 at 3:48 pm to
quote:

baldona


all i know is i saw their accounts, i saw how they dressed, and i saw what they drove. It seemed like a ton of work and overhead/ working capital and very small margins. No idea how many machines each one of them had, but lets say they put 5k in each machine. thats 6-8 machines. an avg of $3 per withdrawl at 40 per W/D. That's 5000/40 equals 125 W/D. 3x125 = 375 x6 or 375 x8 = 2250-3000 or so. So 12k a month in fees. i guess that is pretty good, but i still have no idea how accurate these numbers are or what all it involves.
Posted by dabigfella
Member since Mar 2016
6687 posts
Posted on 11/15/16 at 3:54 pm to
LOL good lord, what they drove and dressed in? I drive a leased $40,000 suv to work everyday, have you seen my other posts where I posted a picture of a rolls royce and a bentley in my driveway and a nice porsche as well? What a person drives to work says absolutely nothing about their standing in society. Also I keep under $20,000 in my personal checking account bc well banks pay no interest at all,its all in my brokerage accounts so to a teller I too would be "poor"
This post was edited on 11/15/16 at 3:57 pm
Posted by idlewatcher
Planet Arium
Member since Jan 2012
98619 posts
Posted on 11/15/16 at 4:24 pm to
quote:

I own a store that's probably one of the busiest stores in Houston in terms of gross sales and the ATM does like $27k/mo in dispensed cash


Are you a gas station? What part of Houston?
Posted by undrafted
DHA
Member since Oct 2009
1008 posts
Posted on 11/15/16 at 4:34 pm to
quote:

Non-bank ATMs in New Orleans are controlled by organized crime. Fact.


This isn't really true.....unless my friends dad is into some shite we don't know about.


Does his last name end in a vowel? If so, I need to explain something to you...
Posted by Carson123987
Middle Court at the Rec
Member since Jul 2011
68233 posts
Posted on 11/15/16 at 5:14 pm to
quote:

I own a store that's probably one of the busiest stores in Houston in terms of gross sales and the ATM does like $27k/mo in dispensed cash


Curious as to the location as well. Just moved to Htown, let's grab some beers and make sports bets bigfella
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