Installing an ATM at your place of business may help you boost income, attract new customers, and improve customer satisfaction. To get the most out of your ATM solutions, you must put your ATM in a visible, accessible, and secure area.
What To Consider When Selecting ATM Placements
It’s pointless to have an ATM if no one can see it or knows it’s there. Avoid placing the ATM behind a wall or heavy furniture where it will be difficult to see or access. The optimum position is at the door, so passers-by will be encouraged to stop and use the machine. Here are essential strategies to consider when selecting your next ATM location.
Cash Intensive Locations
ATMs generally outperform in locations where people fork out large amounts of cash. Cash-only restaurants are ideal sites for ATMs since they encourage this behavior.
High Amounts of Traffic
You’ll want to make sure your equipment is easily visible, accessible, and safe to operate. Because of the number of individuals who see the ATM daily, locations with high foot traffic promote more ATM transactions.
The more individuals that pass by your machine, the more transaction chances there are. Additionally, customers may feel safer accessing their accounts in high-traffic places since witnesses surround them.
Again, you want your machine to be where the people are. You’ll lose money if you position your machine in an area where there aren’t many repeat customers or the ratings aren’t good. You want your machine to be located in a business that customers love visiting and receive positive feedback because that is exactly where everyone is!
When it comes to ATM location, security is a crucial consideration. A well-lit area with other people passing by at regular intervals will exude the sense of security required for frequent use.
High-Performing Locations for ATMs
The following locations have shown to be more profitable compared to other locations. One common denominator is the cash-intensive activities they’re involved with.
1. Restaurants and Bars
While higher-end restaurants and bars may have more significant bills generally paid by credit card, more informal establishments are excellent ATM sites. When the price of a meal is lower, people are more inclined to pay with cash. Consider the site’s cleanliness since filthy areas might attract rats, which can harm delicate equipment parts.
2. Sports Areas
Many merchants do not take credit cards. Therefore cash is king in stadiums and arenas. Aside from the heavy foot traffic, costs are sometimes far higher than customers expect, necessitating numerous ATM visits in a single evening.
People who stay in hotels are frequently away from home. They may not have access to their bank in the city they are visiting, or they may prefer the ease of withdrawing cash without having to find a bank outside.
Once you’ve decided on a site for your ATM, the next decision is to purchase your own or work with an ATM business. Purchasing an ATM outright will cost more in the long run, not to mention the requirement to fill the machine with cash and maintain it. In exchange, ATM owners keep the whole proceeds from ATM surcharges, less any processing expenses. The machine quickly pays for itself, and the business owner soon has a substantial new passive revenue source.
If you’re looking for a reliable ATM supplier, get in touch with ProSource. We have unparalleled years of experience and expertise in the ATM, payment processing, and business finance fields. Our satisfied customers hail from all over the state of Wisconsin.