How to Start an A.T.M. Business


Have you ever wondered how to start an A.T.M. business? If you have, then this step-by-step guide is for you. According to statistics, the global A.T.M. market reached USD 20.18 billion in two thousand twenty and is expected to expand at a compound annual growth rate (C.A.G.R.) of 4.9% within the next few years. Undeniably, now is the best time to capitalize on this money-making opportunity.

Starting an A.T.M. business is a big undertaking, and it’s essential to understand all the steps before you begin. This guide covers everything you need to know about starting an A.T.M. business.

Advantages of Starting an A.T.M. Business:

Before getting into the nitty-gritty, let’s discuss why you should consider starting an A.T.M. business. Here are some of the advantages-

Predictable Income Stream:

Do you know what’s better than having an income stream? Having a predictable income stream. Your customers will always need cash, meaning you’ll have a steady revenue stream from A.T.M. transactions.

Low Maintenance:

Once an A.T.M. is installed, there’s not much maintenance required or ongoing costs that you need to worry about. This also means you don’t have to keep up with the latest technology trends since your machines only require regular updates.

Potential For Growth:

As stated before, the A.T.M. market is growing, and you can capitalize on this trend by adding more machines to your network. This means that as your business grows, so does your potential for income growth.

Flexible Work Hours:

With an A.T.M. business, you’re in charge of your hours. This means you can take a holiday when needed or work fewer hours if that works better for your lifestyle.

Importance Of A Well-planned Strategy:

Now that you know some of the advantages of starting an A.T.M. business, it’s time to discuss the importance of having a well-thought-out strategy. A well-thought-out plan can help you be successful in your A.T.M. business. It can help you mitigate risks such as cash flow issues or customer complaints, giving you more time to focus on expanding your business. 

It can also help you identify areas of improvement and prioritize tasks so everything runs more smoothly. Having a well-planned strategy is critical to ensuring the success of your business. Aside from the points mentioned above, it helps you stay organized to track your progress and provide everything is going according to plan.

5 Steps to Start an A.T.M. Business:

In this section, we’ll discuss how to start an A.T.M. business in detail-

1. Conduct Market Research-

Market research is essential to starting any business, and it’s no different regarding A.T.M.s. This subsection provides a guide for conducting market research for an A.T.M. business.

Determine The Start-Up Costs And Profitability:

Starting an A.T.M. business has a high start-up cost, so you must understand how much money you need to invest. You’ll need to research the cost of buying or leasing A.T.M.s and other associated costs, such as maintenance fees and installation. It’s also essential to consider the potential profits and R.O.I. (return on investment).

Identify The Target Market:

When starting an A.T.M. business, it’s essential to identify your target market. Consider who you want to provide services for and where they would be. This will help determine the type of ATMs you need to buy and where you should install them. An excellent way to do this is to research the local market and determine the types of A.T.M.s most suit that area.

Evaluate Competition:

Your competition plays a significant role in how successful your A.T.M. business will be. It is essential to understand who else is operating ATMs nearby and what services they are offering. This will help you determine where to position your A.T.M.s and how to differentiate your services from their offerings. 

Find The Right Location:

Ideally, you should find an area with many potential customers and low competition. This could include locations such as:

Convenience stores:

Smaller payments are commonplace for many convenience store customers compared to larger stores. These miniature purchases can take a toll on credit card processing fees, so many stores set an established minimum for credit cards. With this in mind, it’s no surprise that A.T.M.s remain close at hand whenever feasible.

  • Gas Stations: Gas stations are popular locations for A.T.M.s. Customers typically purchase gas before leaving a gas station, so it makes sense that they want access to cash while they’re there.
  • Casinos: For a casino to thrive, customers need to be able to exchange their cash for poker chips quickly and use those same funds at slot machines. As such, A.T.M.s are an integral component of any successful gambling establishment.
  • Bars and Restaurants: Cash-only establishments require customers to bring in the money they plan to spend. This can be inconvenient for many people, so A.T.M.s are often placed nearby for their convenience.
  • Retail Stores: It’s not uncommon to see ATMs near checkout lanes for larger retail stores. This allows customers to withdraw cash for larger purchases if needed.

Once you’ve identified an ideal location, it’s essential to negotiate a good deal with your vendor or landlord. This will help ensure you get the best price and terms for your business.

2. Complete Legal and Financial Requirements-

This subsection discusses how to own an A.T.M. legally and the requirements you must fulfill to become appropriately licensed:

Register The business:

Registering your business is an imperative and essential step; it’s the first step to paying taxes, raising funds, establishing a bank account, and other fundamental elements of starting a successful company. But before you register your business, you must first think of a business structure that fits your needs. Here are the main options:

  • Sole Proprietorship – This is the most typical setup for small businesses. It has no legal separation between the company and its owner. All revenue is received by the proprietor, who also bears complete responsibility for any business-related debts, losses, or liabilities. Subsequently, taxes on all income earned through their enterprise are reported on a personal tax return form.
  • In a general partnership, two or more persons join forces to form a general partnership business. They share the profits and losses of their enterprise, and each partner is responsible for any debts incurred by the partnership.
  • Limited Liability Company (L.L.C.) –This business structure combines the traits of corporations and sole proprietorships or partnerships while assuring owners are not held personally responsible for debts.

Obtain An A.T.M. Business License And Other Necessary Permits:

You will need an atm business license and local, state, and federal government permits to launch your A.T.M. business. You must register a “Doing Business As” (D.B.A.) name with the government and obtain health-related permits through O.S.H.A. and trademarks, copyrights, and patents for all intellectual properties associated with the new venture. There may also be industry-specific requirements that necessitate additional licenses or permits before beginning operations.

You may need to obtain state-level and regional licenses or permits, depending on your location. The individual requirements for obtaining these vary significantly across different areas of the country, so check with your state government and any local city or county websites for specific details. Alternatively, contact an appropriate contact in those jurisdictions who can help provide more information about getting authorized.

Set Up A Business Bank Account:

To start your new A.T.M. venture, you must open an exclusive business bank account. This is necessary for separating personal funds from the money generated by your enterprise and also helps draw a clear financial line between the two entities.

A dedicated bank account also allows you to easily track all of the income and expenses associated with your business. Moreover, it can be used for setting aside money for taxes and other payments like rent or utilities. It is recommended that you look around to find out which banks offer the best fees, interest rates, and features before signing up with one of them.

Finally, remember to set up a secure payment processor account to make it easier for customers to use their A.T.M. cards.

Protect Your Business With Insurance:

Business insurance is essential in launching an A.T.M. business, as it helps protect you from potential liabilities and other unforeseen risks associated with operating a company. Some of the typical components of an A.T.M. business insurance policy include the following:

General Liability Insurance:

This coverage protects your business from claims involving property damage, bodily injury, and other losses from ordinary business operations.

  • Property Insurance covers any damage to and theft of physical property, such as A.T.M.s or their components.
  • Product Liability: This coverage helps protect your business from claims related to product defects or malfunctions that could lead to customer injuries or other losses.
  • It would help if you spoke with a qualified insurance representative who can help you understand the exact coverage needed for your particular enterprise. This will protect your business from potential risk or liability claims.

3. Choose the Right A.T.M. Machine-

Now that you’ve covered the basics, you can start exploring types of A.T.M.s available and decide which will best fit your needs. This section covers the different kinds of A.T.M.s available and how to choose the right one for your business.

Determine The Type Of A.T.M. Machine You Need:

The first step in choosing an A.T.M. is determining what machine you need. You can find ATMs that accept cash, debit/credit cards, or both. You will also want to consider the features offered by each machine, such as whether it provides cash advances and the types of receipts that are printed out. Most A.T.M.s these days come with a range of advanced features, so you should research them carefully to ensure they meet your needs before making a purchase decision.

Compare A.T.M. Machines And Suppliers:

If you’re considering incorporating an A.T.M. into your business, it’s essential to familiarize yourself with the different models available and how they can help bolster your small business. Here are three of the best-known types of A.T.M.s:

  1. Genmega Onyx: The Genmega Onyx A.T.M. Machine is a noteworthy upgrade from the rudimentary G2500 base model. With its modernized aesthetic, larger display, and responsive touch keys, the Onyx provides an ideal solution for any retail space. Not only does it look great, but it works flawlessly too! The Onyx A.T.M. is an attractive, cutting-edge machine with unparalleled features such as E.M.V., A.D.A., and PCI compliance. Whether installed in a hotel or gas station, this remarkable A.T.M. will encourage customer transactions with its modern design that looks professional yet stands out from other locations. The Onyx costs around $2,445.00. 
  2. Hyosung Halo II: The HALO II is the most popular A.T.M. available, providing an unbeatable value compared to other cash dispensers. Not only does it offer a UL 291 business hours safe and E.M.V. card reader for added security – but with its PCI 3.0 compliant keypad and T.L.S. (Transport Layer Security) transmission encryption, you can rest assured your personal information will remain secure and private while using this device! Starting at just $2,295.00, the HALO II is an affordable, reliable solution with a sleek design and plenty of features to ensure your customers enjoy the experience.
  3. Genmega GT3000: If you seek a secure and efficient way to offer A.T.M. services, consider an in-wall option such as this “through-the-wall” Automatic Teller Machine. Perfect for businesses wanting to provide outdoor access without having a separate unit, it gives convenience with unparalleled safety measures. One thing to note about in-built A.T.M.s is that they require a minimum wall thickness of at least 6.3 inches to be built around them, providing extra protection and insulation against theft. The Genmega GT3000 is the most expensive A.T.M. on this list, at $3,445.00.

4. Install and Operate the A.T.M. Machines-

In this subsection, you will learn how to install and operate A.T.M.s.

Install the A.T.M.s: 

Installing an A.T.M. is a process that involves several steps to ensure the successful operation of the machine. The first step consists in choosing the right spot for your A.T.M. Selecting the proper place for your A.T.M. is essential. For safety reasons, it should be situated away from any back door, wide window, or external entrance to guarantee maximum security. To maximize coverage of its location, position the machine near a rear wall as much as possible; however, if you need more visibility and convenience for customers, put it closer to the front area so visitors can locate it quickly.

Once you have selected a site, you must securely attach the A.T.M. to the wall or floor. To do this:

  1. Start by marking holes in the wall or floor where your A.T.M. will be installed.
  2. Drill out a hole in each marked area to secure the brackets holding the machine.
  3. Attach these brackets to the outer and inner walls to securely mount your A.T.M.

After mounting your A.T.M., connect it to an electrical outlet to provide power. Depending on your A.T.M. type, the connection method may vary. For example, some machines are powered by a 110-volt A.C. outlet while others require 12-volt D.C. wiring for power supply. Use electrical tape or nuts to cover exposed wires and ensure safety from electric shock or fire hazards.

Set Up And Manage The Software:

Once the A.T.M. is securely installed, you must configure its settings. Start by adding or updating information such as customer accounts, transaction fees, and service options. You can do this through the A.T.M.’s software panel. Once done, select which services will be available on your machine and set up a system for managing cash withdrawals/deposits and other transactions.

If you have problems installing an A.T.M., like if it can’t connect to the internet or doesn’t have power, check if all the wires are connected correctly. Ensure they are plugged into the right outlets, with no exposed wiring. If all of these things look okay, but it still isn’t working, ask someone who knows about machines for help.

Maintain The A.T.M.s: 

Finally, it is essential to maintain your A.T.M.s regularly. This includes checking for visible signs such as cracks in the outer coating, damage or deterioration, faulty buttons or keyboards, and other issues that could affect customer experience. Additionally, keep up with software updates and security patches to ensure optimal machine performance. You should also set up a schedule to clean the A.T.M.s once every week or two weeks to remove dirt, dust, and debris.

5. Market and Promote the A.T.M. Business-

Now that you have successfully installed and set up your A.T.M.s, starting marketing and promoting your business is time. So how do you go about this? Below, we have outlined some key strategies that you can use to market your A.T.M. business and increase its visibility among customers.

Develop a Marketing Strategy:

Comprehensive marketing for any business strategy is vital, including A.T.M. businesses. Start by defining your target audience and customer profiles, then create clear objectives and plans for how you will reach them. This could include creating a website, producing content such as blogs or videos to promote the business, advertising in local newspapers or on social media platforms, attending trade shows, or even setting up booths in public areas.

Offer Additional Services:

If you want to offer extra services like mobile banking, bill payment, and money transfers with your A.T.M., consider whether it is a good idea. Ask yourself if it will help make your business better. If yes, then figure out how to make it happen. For example, you may need more machines or change their software. Then, market these additional services to your customers.

Create A Customer Loyalty Program:

A rewards-based customer loyalty program is one of the best ways to increase customer engagement and loyalty. This could involve offering discounts or cashback when customers use your ATMs and creating promotional offers or special events.

Challenges Faced In The A.T.M. Business:

One A.T.M. business’s biggest challenge is staying ahead of the competition. With technological advancements constantly occurring and new players entering the market, keeping up with customer demands can take time. Additionally, as more innovative solutions become available, such as mobile payments and online banking, A.T.M.s may become obsolete in some areas. You must continually adapt and innovate to remain relevant to stay ahead of the competition.

Another challenge is dealing with security threats. A.T.M.s are vulnerable to cyberattacks and skimmers due to their digital connections and customer financial data access. A.T.M. businesses must protect their machines from such threats, which can affect customer experience and loyalty.

Finally, A.T.M. businesses face the challenge of complying with regulations from different countries or regions. Laws vary from place to place, so A.T.M. businesses need to be aware of all applicable rules and regulations to remain compliant.

Frequently Asked Questions:

How Much is An A.T.M.?

The cost of an A.T.M. will vary depending on its features and capabilities. Generally, primary machines can range from $2,500 to $6,000, while more advanced machines can cost up to $10,000.

Is The A.T.M. Business Dying?

With statistics showing that A.T.M. transactions are steadily rising and mobile banking solutions gaining traction, the A.T.M. business is far from dying. It is a growing industry with many opportunities for businesses and customers alike.

Is An A.T.M. Business Profitable?

By processing 5-12 transactions daily, you can bring in $15-$25 of gross profit daily. If your retail business has just one A.T.M., it could yield an income potential of approximately $450 to $750 per month!

How Much to Start an A.T.M. Business?

The cost of starting an A.T.M. business will vary depending on the scope and size of operations. Generally, you'll need to budget for the machines, installation, and licensing fees. Additionally, you'll need to factor in costs for setup, marketing, maintenance, and customer support. All in all, you can expect to invest anywhere from $10,000-$50,000, depending on the extent of your operations.

What Are the Pros and Cons of An A.T.M. Business?

The pros of an A.T.M. business include the potential for high returns, customer convenience, and the ability to build customer loyalty. The cons of running an A.T.M. business include Hefty upfront costs and ongoing maintenance costs. Threats from cyberattacks or skimmers. Having to comply with regulations.

How To Start An A.T.M. Business With No Money?

Starting an A.T.M. business with no money is possible but can be difficult. Depending on the regulations of your area, you can partner with a bank or financial institution that will provide the machines for free in exchange for a percentage of profits. You could also raise capital through investments or crowdfunding platforms. Your family is another potential source of funds and grants from the government or private foundations.


In conclusion, preparation and research are essential to successfully launching an A.T.M. business. Ensure you know what kind of machines you need, how to install them properly, where they should be located, and how to set up and manage the software. Additionally, keeping up with regular maintenance and promoting your business through a well-developed marketing strategy is essential. With the proper preparation, you can successfully launch an A.T.M. business that provides customers convenient access to cash.

Read also: The World’s Favourite Busy Bee Car Wash.

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