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ATM Business Plan Template

Written by Dave Lavinsky

how to start an ATM business

ATM Business Plan

Over the past 20+ years, we have helped over 500 entrepreneurs and business owners create business plans to start and grow their ATM companies.

If you’re unfamiliar with creating an ATM business plan, you may think creating one will be a time-consuming and frustrating process. For most entrepreneurs it is, but for you, it won’t be since we’re here to help. We have the experience, resources, and knowledge to help you create a great business plan.

In this article, you will learn some background information on why business planning is important. Then, you will learn how to write an ATM business plan step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What is an ATM Business Plan?

A business plan provides a snapshot of your ATM business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategies for reaching them. It also includes market research to support your plans.  

Why You Need a Business Plan for an ATM Business

If you’re looking to start an ATM business or grow your existing ATM company, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your ATM business to improve your chances of success. Your ATM business plan is a living document that should be updated annually as your company grows and changes.  

Sources of Funding for ATM Businesses

With regards to funding, the main sources of funding for an ATM business are personal savings, credit cards, bank loans, and angel investors. When it comes to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to ensure that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business. Personal savings and bank loans are the most common funding paths for ATM companies.

Finish Your Business Plan Today!

How to write a business plan for an atm business.

If you want to start an ATM business or expand your current one, you need a business plan. The guide below details the necessary information for how to write each essential component of your ATM business plan.  

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your executive summary is to quickly engage the reader. Explain to them the kind of ATM business you are running and the status. For example, are you a startup, do you have an ATM business that you would like to grow, or are you operating a chain of ATM businesses?

Next, provide an overview of each of the subsequent sections of your plan.

  • Give a brief overview of the ATM industry.
  • Discuss the type of ATM business you are operating.
  • Detail your direct competitors. Give an overview of your target customers.
  • Provide a snapshot of your marketing strategy. Identify the key members of your team.
  • Offer an overview of your financial plan.

Company Overview

In your company overview, you will detail the type of ATM business you are operating.

For example, you might specialize in one of the following types of ATM businesses:

  • Independent ATM owner/operator: This is the most common type of ATM business in which an individual owns one or multiple ATM machines that can be located in a variety of places such as retail stores, shopping malls, and more.
  • Mobile ATM: The owner/operator of this type of ATM business will book their mobile ATMs for events such as festivals or conventions.
  • Bitcoin ATM: This type of ATM machine is for cryptocurrency transactions rather than traditional banking transactions.
  • ATM installation and maintenance: This type of business provides installation and maintenance services for an ATM owner/operator.

In addition to explaining the type of ATM business you will operate, the company overview needs to provide background on the business.

Include answers to questions such as:

  • When and why did you start the business?
  • What milestones have you achieved to date? Milestones could include the number of customers served, the number of transactions completed, and reaching $X amount in revenue, etc.
  • Your legal business Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry or market analysis, you need to provide an overview of the ATM industry.

While this may seem unnecessary, it serves multiple purposes.

First, researching the ATM industry educates you. It helps you understand the market in which you are operating.

Secondly, market research can improve your marketing strategy, particularly if your analysis identifies market trends.

The third reason is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your ATM business plan:

  • How big is the ATM industry (in dollars)?
  • Is the market declining or increasing?
  • Who are the key competitors in the market?
  • Who are the key suppliers in the market?
  • What trends are affecting the industry?
  • What is the industry’s growth forecast over the next 5 – 10 years?
  • What is the relevant market size? That is, how big is the potential target market for your ATM business? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your ATM business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: individuals, schools, families, and corporations.

As you can imagine, the customer segment(s) you choose will have a great impact on the type of ATM business you operate. Clearly, individuals would respond to different marketing promotions than corporations, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, including a discussion of the ages, genders, locations, and income levels of the potential customers you seek to serve.

Psychographic profiles explain the wants and needs of your target customers. The more you can recognize and define these needs, the better you will do in attracting and retaining your customers.  

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Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other ATM businesses.

Indirect competitors are other options that customers have to purchase from that aren’t directly competing with your product or service. This includes online money transfer apps and traditional banking establishments. You need to mention such competition as well.

For each such competitor, provide an overview of their business and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as

  • What types of customers do they serve?
  • What type of ATM business are they?
  • What is their pricing (premium, low, etc.)?
  • What are they good at?
  • What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

  • Will you make it easier for customers to access your ATM?
  • Will you offer products or services that your competition doesn’t?
  • Will you provide better customer service?
  • Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.  

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a ATM business plan, your marketing strategy should include the following:

Product : In the product section, you should reiterate the type of ATM company that you documented in your company overview. Then, detail the specific products or services you will be offering. For example, will you provide mobile ATMs, bitcoin ATMs, or ATM installation services?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your plan, you are presenting the products and/or services you offer and their prices.

Place : Place refers to the site of your ATM company. Document where your company is situated and mention how the site will impact your success. For example, is your ATM business located in a busy retail district, a business district, a standalone office, or purely online? Discuss how your site might be the ideal location for your customers.

Promotions : The final part of your ATM marketing plan is where you will document how you will drive potential customers to your location(s). The following are some promotional methods you might consider:

  • Advertise in local papers, radio stations and/or magazines
  • Reach out to websites
  • Distribute flyers
  • Engage in email marketing
  • Advertise on social media platforms
  • Improve the SEO (search engine optimization) on your website for targeted keywords

Operations Plan

While the earlier sections of your business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your ATM business, including answering calls, planning and providing therapy sessions, billing insurance and/or patients, etc.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to install your Xth ATM, or when you hope to reach $X in revenue. It could also be when you expect to expand your ATM business to a new city.  

Management Team

To demonstrate your ATM business’ potential to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company.

Ideally, you and/or your team members have direct experience in managing ATM businesses. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act as mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing an ATM business.  

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet, and cash flow statements.

Income Statement

An income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenue and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you install 5 ATMs in retail locations around your city, and will you charge a $2.00 fee for each transaction? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets

Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $50,000 on building out your ATM business, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a lender writes you a check for $50,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement

Your cash flow statement will help determine how much money you need to start or grow your business, and ensure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt.

When creating your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a ATM business:

  • Cost of the ATMs
  • Payroll or salaries paid to staff
  • Business insurance
  • Other start-up expenses (if you’re a new business) like legal expenses, permits, computer software, and equipment

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your office location lease or a list of locations in which your ATMs will be installed.  

Writing a business plan for your ATM business is a worthwhile endeavor. If you follow the free template above, by the time you are done, you will have an expert ATM business plan; download it to PDF to show banks and investors. You will understand the ATM industry, your competition, and your customers. You will develop a marketing strategy and will understand what it takes to launch and grow a successful ATM business.  

ATM Business Plan FAQs

What is the easiest way to complete my atm business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily write your ATM business plan.

How Do You Start an ATM Business?

Starting an ATM business is easy with these 14 steps:

  • Choose the Name for Your ATM Business
  • Create Your ATM Business Plan
  • Choose the Legal Structure for Your ATM Business
  • Secure Startup Funding for ATM Business (If Needed)
  • Secure a Location for Your Business
  • Register Your ATM Business with the IRS
  • Open a Business Bank Account
  • Get a Business Credit Card
  • Get the Required Business Licenses and Permits
  • Get Business Insurance for Your ATM Business
  • Buy or Lease the Right ATM Business Equipment
  • Develop Your ATM Business Marketing Materials
  • Purchase and Setup the Software Needed to Run Your ATM Business
  • Open for Business

Learn more about   how to start your own ATM business .

Don’t you wish there was a faster, easier way to finish your ATM business plan?

OR, Let Us Develop Your Plan For You

Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.   Click here to learn about Growthink’s business plan writing services .  

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ATM Business Plan Template

Written by Dave Lavinsky

ATM Business Plan

You’ve come to the right place to create your ATM business plan.

We have helped over 1,000 entrepreneurs and business owners create business plans and many have used them to start or grow their ATM businesses.

Below is a template to help you create each section of your ATM business plan.

Executive Summary

Business overview.

SecureVault ATM Company is a startup ATM machine business located in Santa Cruz, California. The company is founded by Lacie Bryon, a vending machine manager who owns multiple machines throughout the city of Santa Cruz. She has built excellent relationships with the business owners from whom she rents space and electricity and, as a result, has several offers to place her ATM machines in the current locations where her name and reputation precedes her.

SecureVault ATM Company will provide reliable and secure ATM services to customers while creating mutually beneficial relationships with the location providers. There is an increased drive by consumers for cash and SecureVault ATM Company plans to build profit from that increase, particularly as the business grows. All SecureVault ATM machines will be in convenient and easily accessible locations, making it especially easy for consumers to access the ATM machines and return to it whenever needed.

Product Offering

The following are the services that SecureVault ATM Company will provide:

  • Convenient and secure ATM cash withdrawals
  • ATM cash machine services for tourists and out-of-country visitors
  • Bank deposits that will transact within 24 hours
  • Secure video panels and safety mechanisms within the machines ensure secure and safe transactions
  • Proprietary app “ATM @My Location,” quickly sources and offers driving instructions to the nearest available ATM within the SecureVault ATM machines in the region
  • Secure account information printouts with receipts
  • Day to day management of ATM locations to maintain clean machines and surrounding areas

Customer Focus

SecureVault ATM Company will target residents of Santa Cruz. They will also target visitors from the U.S. and international visitors within the popular beach city. They will target business owners who are interested in partnerships built via the ATM machine locations. They will target businesses who will want to market services or products via the ATM app.

Management Team

SecureVault ATM Company will be owned and operated by Lacie Byron, a vending machine entrepreneur who owns multiple vending machines throughout the city of Santa Cruz. She has recruited her virtual assistant, Kayleigh Thompson, to join the startup on-site.

Lacie Byron has been a self-employed entrepreneur for over fifteen years. She has built excellent relationships with the business owners from whom she rents space and electricity and, as a result, has several offers to place her ATM machines in the current vending locations where her name and reputation precede her.

Kayleigh Thompson, the former virtual assistant, will join SecureVault ATM Company as an Administrative Assistant on-site. She will oversee all day-to-day administrative tasks. She will also be on-call for ATM emergencies 24/7 each day.

Success Factors

SecureVault ATM Company will be able to achieve success by offering the following competitive advantages:

  • Friendly, knowledgeable, and highly-qualified team of SecureVault ATM Company
  • Secure ATM machines that accept out-of-country debit and credit cards
  • SecureVault ATM Company creates partnerships with area businesses with the intention of building up both businesses and creating mutually beneficial profitability.

Financial Highlights

SecureVault ATM Company is seeking $200,000 in debt financing to launch its SecureVault ATM Company. The funding will be dedicated toward securing the office space and purchasing office equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs for the print ads and marketing costs. The breakout of the funding is below:

  • Office space build-out: $20,000
  • Office equipment, supplies, and materials: $10,000
  • Three months of overhead expenses (payroll, rent, utilities): $150,000
  • Marketing costs: $10,000
  • Working capital: $10,000

The following graph outlines the financial projections for SecureVault ATM Company.

SecureVault ATM Company Pro Forma Projections

Company Overview

Who is securevault atm company.

SecureVault ATM Company is a newly established, full-service ATM machine business in Santa Cruz, California. SecureVault ATM Company will be the most reliable, secure and convenient choice for residents, visitors and tourists from out of the country, as well as those from the surrounding communities. SecureVault ATM Company will provide a comprehensive menu of ATM choices and services for any customer to utilize. Their full-service approach includes a comprehensive set of options for cash withdrawals, deposits and other banking transactions.

  SecureVault ATM Company will be able to serve hundreds of customers on a regular basis. The team of professionals in SecureVault ATM Company are highly qualified and experienced and each member of the team is trained to easily serve customers. SecureVault ATM Company removes all the headaches and issues of trying to find an ATM machine, particularly in an unfamiliar city, and ensures all issues are taken care of expeditiously while delivering the best customer service.

SecureVault ATM Company History

SecureVault ATM Company is owned and operated by Lacie Bryon, a vending machine entrepreneur who operates multiple vending machines throughout the city of Santa Cruz. She has been in business for over 15 years and has built excellent relationships with the business owners from whom she rents space and electricity and, as a result, has several offers to place her ATM machines in the current locations where her name and reputation precede her.

Since incorporation, SecureVault ATM Company has achieved the following milestones:

  • Registered SecureVault ATM Company, LLC to transact business in the state of California.
  • Has a contract in place for a 10,000 square foot office in a midtown building.
  • Reached out to numerous contacts to include SecureVault ATM Company in their current and future location plans.
  • Began recruiting a staff of three and two office personnel to work at SecureVault ATM Company.

SecureVault ATM Company Services

The following will be the services SecureVault ATM Company will provide:

Industry Analysis

The ATM machine industry is expected to grow during the next five years to over $30 million. The growth will be driven by ATM machines placed in new locations, particularly as new communities form. The growth will also be driven by new industries or sectors that conduct business in rapidly-growing cities. The growth will be driven by entrepreneurs who prefer to own and operate a business without an employer or oversight by others. Costs will likely be reduced as ATM partnerships share the costs on a more equitable level of a 50/50 split. Costs will also be reduced as new technology paves the way for improvements to ATM servicing capabilities.

Customer Analysis

Demographic profile of target market, customer segmentation.

SecureVault ATM Company will primarily target the following customer profiles:

  • Residents of Santa Cruz
  • U.S. visitors and international tourists
  • Potential business partners for ATM placement/services
  • Potential business partners who will market their business via the ATM app

Competitive Analysis

Direct and indirect competitors.

SecureVault ATM Company will face competition from other companies with similar business profiles. A description of each competitor company is below.

Quick Cash Company

Quick Cash Company provides ATM machine access throughout the Santa Cruz and Highway 1 Corridor. ATM machines are located within strip malls and adjacent to laundry facilities. The ATM machines provide cash in twenty-dollar increments up to a value of $200. The ATM machines do not accept bank deposits, nor do the ATMs accept cash deposits. There are no receipts provided. Quick Cash Company is owned and operated by Gerrie and Sandy Doney, entrepreneurs who have been in the ATM business for over ten years. The ATM machines provided by Quick Cash Company are utilized heavily near the beach amusement park area and are also popular near the southern beach portion of the Santa Cruz city. Quick Cash Company has a singular goal: that of providing cash; all other transactions are omitted from the services provided.

MoneyLink ATM Services

MoneyLink ATM Services is bank-owned and operated as a convenience for the customers of the Redwood Bank. The day-to-day management of the ATM machines owned is contracted out to a security company that refills the ATM machines with cash on a regular basis and maintains the ATM machines as needed. The Redwood Bank provides services for customers of the bank, including conducting transactions if cash or checks are deposited and paying out up to $400 if the withdrawals are from a bank customer.

MoneyLink ATM Services operates 10 ATM machines in various parts of the city of Santa Cruz, with two ATM machines near tourist shops and mini-mall stores in the downtown area of the city. The ATM servicing company maintains the ATM machine by filling them with cash as needed; however there is no cleaning of the areas around the machines, nor cleaning of the machines themselves. There are no services offered at the ATM machines, other than withdrawals and deposits.

Harrison & Company

Harrison & Company is a legal limited liability company formed between four brothers who own and operate ATM and vending machines throughout the Santa Barbara, California area. They recently expanded their business to include Santa Cruz and other beach areas. There are twenty food vending machines in the business and 15 cash vending machines within the company, each serviced and maintained by the siblings in Harrison & Company.

The food vending machines owned by Harrison & Company are located primarily in strip malls and convenience stores, where visitors can access easy and convenient cash. Harrison & Company carefully evaluates each suggested location before placing a vending or ATM machine on any site, due to the increased risk of theft or other invasive tactics by unscrupulous visitors. Harrison & Company maintain the ATM machines and food vending machines on a daily basis and have created strong and lasting partnerships with other businesses in the area in order to secure the prime locations for their machines.

Competitive Advantage

SecureVault ATM Company will be able to offer the following advantages over their competition:

  • SecureVault ATM Company creates partnerships with area businesses with the intention of building up both businesses and creating mutually beneficial profitability

Marketing Plan

Brand & value proposition.

SecureVault ATM Company will offer the unique value proposition to its clientele:

  • Highly-qualified team of skilled employees who are able to provide a comprehensive array of services and cash products to consumers.
  • SecureVault ATM Company offers reasonable partnership value and steady income levels for partners.

Promotions Strategy

The promotions strategy for SecureVault ATM Company is as follows:

Word of Mouth/Referrals

SecureVault ATM Company has built up an extensive list of contacts over the years by providing exceptional service and expertise to her clients. Current partners and potential partners are eager to take part in the relationships of SecureVault ATM Company and help spread the word of SecureVault ATM Company.

Digital Advertising

SecureVault ATM Company will contract with a digital marketing expert to access local and regional marketing campaigns.

Social Media Campaign

SecureVault ATM Company will also contract with a social media manager to announce the launch via a series of call outs across several channels to build up to the launch date. ATM locations and specifics of the services offered will be included in the social media campaign efforts.

Print Advertising

SecureVault ATM Company will secure local newspaper ads to announce the new ATM machines in the targeted communities and regional areas. They will also send a direct mail targeted flyer to all residents within Santa Cruz county.

Website/SEO Marketing

SecureVault ATM Company will fully utilize their website. The website will be well organized, informative, and list all the services and products that SecureVault ATM Company provides. The website will list their contact information and will engage in SEO marketing tactics so that anytime someone types in the Google or Bing search engine “ATM machine that accepts international debit and credit cards” or “ATM machine near me”, SecureVault ATM Company will be listed at the top of the search results.

The pricing of SecureVault ATM Company will be moderate and on par with competitors so customers feel they receive excellent value when purchasing their services.

Operations Plan

The following will be the operations plan for SecureVault ATM Company. Operation Functions:

  • Lacie Byron will be the Owner and President of the company. She will oversee all staff and manage partners and new partnership relations. She has spent the past year recruiting the following staff:
  • Kayleigh Thompson, who will take on the role of Administrative Assistant and manage the office administration and act as the emergency contact.

Milestones:

SecureVault ATM Company will have the following milestones completed in the next six months.

  • 5/1/202X – Finalize contract to lease office space
  • 5/15/202X – Finalize personnel employment contracts for the SecureVault ATM Company
  • 6/1/202X – Finalize contracts for SecureVault ATM Company partnerships
  • 6/15/202X – Begin networking to find potential partners and ATM locations
  • 6/22/202X – Begin moving into the SecureVault ATM Company office
  • 7/1/202X – SecureVault ATM Company opens its office for business

Financial Plan

Key revenue & costs.

The revenue drivers for SecureVault ATM Company are the fees they will charge to customers for the usage of their ATM services.

The cost drivers will be the overhead costs required in order to staff SecureVault ATM Company. The expenses will be the payroll cost, rent, utilities, office supplies, and marketing materials.

Funding Requirements and Use of Funds

SecureVault ATM Company is seeking $200,000 in debt financing to launch its ATM machine business. The funding will be dedicated toward securing the office space and purchasing office equipment and supplies. Funding will also be dedicated toward three months of overhead costs to include payroll of the staff, rent, and marketing costs for the print ads and association memberships. The breakout of the funding is below:

Key Assumptions

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials and in order to pay off the startup business loan.

  • Number of ATM Customers Per Month: 1,600
  • Average Revenue per Month: $56,500
  • Office Lease per Year: $100,000

Financial Projections

Income statement, balance sheet, cash flow statement, atm business plan faqs, what is an atm business plan.

An ATM business plan is a plan to start and/or grow your ATM business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can easily complete your ATM business plan using our ATM Business Plan Template here .

What are the Main Types of ATM Businesses? 

There are a number of different kinds of ATM businesses , some examples include: Independent ATM owner/operator, Mobile ATM, Bitcoin ATM, and ATM installation and maintenance.

How Do You Get Funding for Your ATM Business Plan?

ATM businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.

What are the Steps To Start an ATM Business?

Starting an ATM business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop An ATM Business Plan - The first step in starting a business is to create a detailed ATM business plan that outlines all aspects of the venture. This should include potential market size and target customers, the services or products you will offer, pricing strategies and a detailed financial forecast. 

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your ATM business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your ATM business is in compliance with local laws.

3. Register Your ATM Business - Once you have chosen a legal structure, the next step is to register your ATM business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws.

4. Identify Financing Options - It’s likely that you’ll need some capital to start your ATM business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms.

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations.

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events.

7. Acquire Necessary ATM Equipment & Supplies - In order to start your ATM business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation.

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your ATM business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a successful ATM business:

  • How to Start an ATM Business

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Atm Business Plan

Executive summary image

Additional revenue potential, a simple business model, and several tax benefits make starting an ATM business an excellent choice for emerging entrepreneurs. However, entering the marketplace without proper planning can expose your business to risk.

Need help writing a business plan for your ATM business? Creating a business plan is essential to starting, growing, and securing funding for your business. So we have prepared an ATM business plan template to help you start writing yours.

sample business plan

Free Business Plan Template

Download our free business plan template now and pave the way to success. Let’s turn your vision into an actionable strategy!

  • Fill in the blanks – Outline
  • Financial Tables

How to Write an ATM business plan?

Writing an ATM business plan is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan:

1. Executive Summary

An executive summary is the first section of the business plan intended to provide an overview of the whole business plan. Generally, it is written after the entire business plan is ready. Here are some components to add to your summary:

Start with a brief introduction:

Market opportunity:, mention your services:, marketing strategy:, financial highlights:, call to action:.

Ensure you keep your executive summary concise and clear, use simple language, and avoid jargon.

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2. Business Overview

Depending on your business details, you’ll need different elements in your business overview. Still, there are some foundational elements like business name, legal structure, location, history, and mission statement that every business overview should include:

About the business:

Provide all the basic information about your business in this section like:

  • The name and type of your ATM business: mention details about your ATM business type and the services it will offer to consumers. For instance, here are a few popular ATM business types: 1. Retail ATM Business: This type of ATM business involves placing ATM machines in retail locations such as gas stations, convenience stores, and other busy areas. 2. Mobile ATM Business: This business model involves transporting ATM machines to mobile locations such as fairs, festivals, etc. 3. Bitcoin ATM Business: It is a type of kiosk allowing users to buy or sell bitcoins using cash or debit cards.
  • Company structure of your spa business whether it is LLC, partnership firm, or some other.
  • Location of your ATM business and why you selected that place.

Mission statement:

Business history:, future goals:.

This section should provide an in-depth understanding of your ATM business. Also, the business overview section should be engaging and precise.

3. Market Analysis

Market analysis provides a clear understanding of the market in which your ATM business will run along with the target market, competitors, and growth opportunities. Your market analysis should contain the following essential components:

Target market:

Market size and growth potential:, competitive analysis:, market trends:, regulatory environment:.

Some additional tips for writing the market analysis section of your business plan:

  • Use various sources to gather data, including industry reports, market research studies, and surveys.
  • Be specific and provide detailed information wherever possible.
  • Include charts and graphs to help illustrate your key points.
  • Keep your target audience in mind while writing the business plan.

4. Products And Services

An ATM business plan’s product and services section should describe the specific services and products offered to customers. To write this section should include the following:

ATM Machines:

Atm services:, fees & charges:, value-added services:, emphasize security:.

Overall, a business plan’s product and services section should be detailed, informative, and customer-focused. By providing a clear and compelling description of your offerings, you can help potential investors and readers understand the value of your business.

5. Sales And Marketing Strategies

Writing the sales and marketing strategies section means a list of strategies you will use to attract and retain your clients. Here are some key elements to include in your sales & marketing plan:

Develop your unique selling proposition (USP):

Determine your pricing strategy:, marketing strategies:, sales strategies:, customer retention:.

Overall, your business plan’s sales and marketing strategies section should outline your plans to attract and retain customers and generate revenue. Be specific, realistic, and data-driven in your approach, and be prepared to adjust your strategies based on feedback and results.

6. Operations Plan

When writing the operations plan section, it’s essential to consider the various aspects of your business processes and procedures involved in operating a business. Here are the components to include in an operations plan:

Hiring plan:

Operational process:, technologies:.

By including these key elements in your operations plan section, you can create a comprehensive plan that outlines how you will run your ATM business.

7. Management Team

The management team section overviews the individuals responsible for running the ATM business. This section should provide a detailed description of the experience and qualifications of each manager, as well as their responsibilities and roles.

Founder/CEO:

Key managers:, organizational structure:, compensation plan:, board of advisors:.

Describe your company’s key personnel and highlight why your business has the fittest team.

8. Financial Plan

When writing the financial plan section of a business plan, it’s important to provide a comprehensive overview of your financial projections for the first few years of your business.

Profit & loss statement:

Cash flow statement:, balance sheet:, break-even point:, financing needs:.

Remember to be realistic with your financial projections and provide supporting evidence for your estimates.

9. Appendix

When writing the appendix section, you should include any additional information that supports the main content of your plan. This may include financial statements, market research data, legal documents, and other relevant information.

  • Include a table of contents for the appendix section to make it easy for readers to find specific information.
  • Include financial statements such as income statements, balance sheets, and cash flow statements. These should be up-to-date and show your financial projections for at least the first three years of your business.
  • Provide market research data, such as statistics on the size of the ATM industry, consumer demographics, and trends in the industry.
  • Include any legal documents such as permits, licenses, and contracts.
  • Provide any additional documentation related to your business plans, such as marketing materials, product brochures, and operational procedures.
  • Use clear headings and labels for each section of the appendix so that readers can easily find the information they need.

Remember, the appendix section of your ATM business should only include relevant and essential information supporting your plan’s main content.

The Quickest Way to turn a Business Idea into a Business Plan

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This ATM business plan sample will provide an idea for writing a successful ATM plan, including all the essential components of your business.

After this, if you still need clarification about writing an investment-ready ATM business plan to impress your audience, download our ATM business plan pdf .

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Frequently asked questions, why do you need an atm business plan.

A business plan is an essential tool for anyone looking to start or run a successful ATM company. It helps to get clarity in your business, secures funding, and identifies potential challenges while starting and growing your ATM business.

Overall, a well-written plan can help you make informed decisions, which can contribute to the long-term success of your ATM business.

How to get funding for your ATM business?

There are several ways to get funding for your ATM business, but self-funding is one of the most efficient and speedy funding options. Other options for funding are:

Small Business Administration (SBA) loan

Crowdfunding, angel investors, venture capital.

Apart from all these options, there are small business grants available, check for the same in your location and you can apply for it.

Where to find business plan writers for your ATM business?

There are many business plan writers available, but no one knows your business and idea better than you, so we recommend you write your ATM business plan and outline your vision as you have in your mind.

What is the easiest way to write your ATM business plan?

A lot of research is necessary for writing a business plan, but you can write your plan most efficiently with the help of any ATM business plan example and edit it as per your need. You can also quickly finish your plan in just a few hours or less with the help of our business plan software.

About the Author

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Upmetrics Team

Upmetrics is the #1 business planning software that helps entrepreneurs and business owners create investment-ready business plans using AI. We regularly share business planning insights on our blog. Check out the Upmetrics blog for such interesting reads. Read more

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How to Write an ATM Business Plan

So, you’re going to start an ATM business ? That’s great! But, you need to have an ATM business plan before you dive in.

As businesses go, an ATM business is relatively simple. There’s not a lot of equipment to maintain. You don’t have to stock any physical inventory. And, you can run the business yourself, if you want.

However, an ATM business plan is still very important, despite that simplicity.

Writing an ATM business plan helps you map out the first years of running your business. And, your ATM business plan forces you to think about all the aspects of running an ATM business , helps you anticipate costs and problems, and creates a checklist for getting your business off the ground.

Additionally, having a written business plan can help secure loans (if you need them) and bank accounts.

Really, your business plan is the first asset you build for your business.

So, let’s get started.

The anatomy of an ATM business plan

An ATM business has all the same high level considerations of any other business. So, the contents of your business don’t need to be special. Your contents page can look just like this:

  • Executive summary.
  • Company summary and funding needs.
  • Products and services.
  • Marketing plan and analysis.
  • Management team.
  • Financial plan and forecasts.

There will be subsections for each of these sections. But, everything will fall under one of these umbrellas.

Your business plan doesn’t need to be a manifesto. As you add the information for each section, a good tactic is to use short headings followed by bullet points. Use the question as the heading, and list the answers to each question in the bullets. That way you can easily reference your business plan when you need it.

These are the questions you need to answer as you fill out each section.

Executive summary

There are three main subsections for your objective summary:

The objectives don’t have to be anything super corporate. It’s your business. What do you want your business to do for you in the first year? The first two years? The first five years?

The purpose of your objectives is to set measurable goal posts, so that you know when your business has achieved what you want and if you’re meeting your timeline.

  • Mission statement

The mission statement is related to what your business does for your customers. The mission should be a direct line to your objectives. What will you do for your customers that will help your business achieve your objectives?

  • Keys to success

What are the most important things that you’ll need to do to make your business successful?

Be very honest with yourself here. You’re going to be doing most of the work in your business. So, there may be some personal development that’s critical to making your business successful. Or maybe you must secure some additional funding before you can do anything else.

Your keys to success should be mandatory things, the non-negotiables that make the whole thing work.

Company summary and funding needs

Your company summary and funding needs defines who’s going to do what and how you’re going to cover startup and operating expenses.

  • Company summary

Obviously, you need to define your own responsibilities. But, also define what responsibilities you’re going to outsource.

  • Are you going to hire a vaulting service for your ATMs?
  • Will you hire someone to perform routine maintenance and cleaning?
  • Are you going to perform every installation yourself or have the installation done for you?
  • Will you pay for accounting and bookkeeping or learn to do it yourself?
  • Which ATM processor will you use? Will you need to pay processing fees?

You don’t have to do everything. But, everything needs to get done. And, you need to plan out who’s going to do it, and how you’re going to pay for it…

  • Funding needs

Startup costs

The most obvious funding needs are your startup costs. Typically, you can budget about $5000 for each ATM machine. That covers the cost of the ATM itself and the cash you need to stock it.

However, $5000 is just a general guideline. Identify which ATM machines you’re going to purchase and plan out how much cash you’re going to put in them. That way you can calculate specific costs.

ATM machines vary in price. And, you need to fill them with more money if you want to refill them less often. Define these variables, so you can very precisely define your funding needs. You’re less likely to run into surprises this way.

Operating costs

Also, calculate your operating costs. Be very specific in this category, too. Think about the gas and vehicle maintenance, if you’re driving to restock your ATMs. Include the cost of vaulting your ATM machines, if you’re paying a vaulting service. And, remember to include payroll if you’ll be hiring anyone.

Business formation costs

Lastly, consider the costs of starting a company (C-Corp, S-Corp, LLC, etc.). You can operate ATM machines as a sole proprietor, without filing any paperwork with the state. But, working as an individual, rather than a business, has some drawbacks.

First, you’ll be personally liable for anything that goes wrong. Raising a corporate veil is outside the scope of this post. But, if you’re operating as an individual, everything you own could be at risk.

Also, it’s very difficult to get a business bank account without a business tax identification number. Actually, it might be impossible (but we’re not bankers or lawyers).

Without getting too far into the legal weeds, suffice to say that owning and operating ATM machines without a corporate entity will be very tricky. It’s better to just start a company.

Corporate startup costs vary from state to state. But, you should figure at least $1000 to cover the filing and state fees. But, again, do some research to get precise numbers.

The purpose of this exercise is to determine exactly how much money you will need to get the business started, and how much it will cost to keep things running. That way you know how much you need to borrow, if you’re borrowing your startup capital. And, you’ll know how much revenue you need to keep the ship above water.

Products and services

This one is pretty straightforward for an ATM business: you provide ATM machines to businesses and events.

But, get more specific than that.

  • How much will your transaction fees be?
  • What will you do as part of your ATM services?
  • Will you provide additional products with your ATM machines (i.e. ATM toppers that advertise for businesses)?

As you negotiate contracts with business owners, you’ll find that each ATM placement has its nuances.

The purpose of clearly defining your products and services is to establish boundaries. You need to know what you will definitely NOT do.

Once you have an agreement and a contract to do something, you have to do it. So, you need to plan out your services. That way you don’t end up bound to a contract that’s not good for you or your business.

Having a clear picture of how your services are structured will also help you with the next step.

Marketing plan and analysis

The target market for ATM businesses is fairly predefined. Or, at least more predefined than many other business markets.

However, it’s still a good idea to narrow your focus and gather some intelligence about the businesses you’ll be targeting. There are a couple of ways that you can select a target market for your ATM business:

  • Focus on a certain area. If you live in a populated area, you can focus on the businesses near your residence. That way your ATM route will be familiar and maybe even walkable. Or, you can just focus your efforts on an area with a lot of eligible businesses.
  • Focus on a certain type of business. In reality, an ATM owner can help almost any business by providing ATM services. But, if you narrow your scope to a certain type of business—like casinos or gas stations—you can learn about the business, identify some benefits that are unique to those types of businesses, and position yourself as a specialist in that industry.

This may seem counterintuitive. If you only focus on one area or type of business, you’re missing a lot of opportunities, right? Not quite.

First, you can always expand in to serving new businesses and new areas as your ATM business grows.

But, narrowing your focus also works as a sales lever. You can build a unique selling proposition (USP)  around being nearby and therefore easy to reach. Or you can use your specialization in helping certain types of businesses as your unique selling proposition.

In short, focusing on a smaller target market makes it easier for you to get your first ATM placements. You can always widen your scope as your ATM business grows.

  • Management team

The management team might be just you. But, if you have additional team members, define their roles and responsibilities. Don’t leave anyone out.

This is a bit different than defining who you were going to hire. Now, you need to define what parts of the business each person is responsible for and how you’ll measure success.

If you’re the only manager. That’s fine. Define responsibilities and standards for yourself. Starting a business always involves at least a little bit of personal development.

Financial plan and forecasts

The most important part of this section is ensuring that you have a plan to cover all of your expenses and pay off any debts the business has. There are three parts to developing this plan.

  • Income statement

Your income statement is just a statement that shows your business profits and losses. Before you start a business, there’s obviously not going to be a lot here. But, be sure to prepare one and keep it updated. Most accounting software will run an income statement for you.

  • Balance sheet

Your balance sheet shows your assets and liabilities. Your ATM machines are assets. If you took out a loan to buy your first ATM, that loan is a liability.

Setting up a balance sheet is pretty straightforward. And, most accounting software will help you construct a balance sheet.

The general rule for balance sheets is that anything which generates revenue is an asset. Anything that does not generate revenue is a liability.

Use a balance sheet template if you want to manually create your balance sheet.

  • Cash flow statement

Your cash flow statement just shows where money is coming into your business and where money is going out. This enables you to get a high level view of your income and expenses.

Your account software can also help you with this. But, you can use a cash flow statement template to write out your own cash flow statement.

The point of putting together all these reports is first to prepare for tracking your business finances. Things get messy really fast if you have no idea where your money is coming from or where it’s going. And, building these reports once you’ve been operating for several months is a nightmare.

But, as you construct these reports, you’ll be able to estimate your projected revenue and establish a plan for paying off all your debts, coving your operating expenses, and maximizing profits.

As a note, most successful ATM business owners report that they make about $500 per ATM machine each month. Your numbers may be different. But, $500 per ATM per month is a good starting point for estimating your revenue.

It’s just like personal finance. You need to have a plan for what you’re going to do with your money.

One last thing…

That’s it. Your business plan is all done. There’s just one more thing. And, this is the fun part…

Go back to the cover page of your business plan. Think up a name for your business and add it to the cover page. It might seem weird to do this last. But, it’s a lot easier to think up a clever, relevant business name if you know everything about your business.

Now you’re done. And, it’s time to start putting your plan into action.

Copy and paste the following text into an MS Word or Google Doc to create a template for your business plan:

[ATM BUSINESS NAME]

  • ATM service packages
  • Target areas and business types

Then fill out each section to write your ATM business plan (remember to add the name LAST). Then, all you have to do is get it done.

If you need help executing your ATM business plan, become an ATMDepot member to get training on how to start and run your ATM business.

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How to Write an ATM Company Business Plan + Sample Template

ATMs, also known as automated teller machines, are an appealing business to operate due to the passive nature of the business. But the industry has faced unexpected changes over the past few years that should cause pause before moving forward with the idea.

ATM manufacturing alone is an $185 million dollar industry in the United States according to reports . Independent owners of these machines take a small fee from each transaction that occurs with the unit. The more machines you’re able to acquire and position in high-traffic locations, the more revenue you can generate.

The challenge within this industry has been impacts of the global pandemic. People aren’t going to be gathering in crowds, attending baseball games or fairs the same way they used to. In turn, cashless payment options are becoming more prevalent, cutting the need for paper assets where germs could spread more easily. As a result the industry size is expected to shrink through 2025.

In spite of this global shift, ATMs will continue to work in some areas. Just like magazines and other industries on that have been on the decline decades, you can still build a profitable business with the right approach. You’ll just need to be more creative and aware of the changing consumer behavior. According to major news outlets , cash is still the most used method of payment in the United States.

atm machine

ATM machines are expected to decline in use over the next 5 years.

If you’re thinking about purchasing a set of machines, be sure to write a detailed business plan first so you understand the strengths and weaknesses of the business model. This post we provide detailed instruction on how to write a business plan in this industry. We even include free templates you can download and update. Let’s do this thing!

Executive Summary

Start with a brief description of your proposed ATM business by writing down an introduction for it in this section. Include a little bit about the company as well, a quick rundown of the services your ATM business will offer, and the customer focus you’ll be reaching with this kind of business.

Introduction

Introductions are important in a formal business plan. This gives your readers a quick run-through of what your ATM business is without getting too technical. A simple introduction of your business name, location, and the services you’ll be offering will suffice since more details will be thoroughly explained later on.

A sample introduction can be like this:

Cash 2 Go is an ATM business center located inside Pennsylvania Station, New York. The ATMs deployed will have cash withdrawal functions, balance checker options, bills payments services, and fund transfer services. The ATM center is accessible 24 hours a day and seven days a week.

Just by this introduction, you can already tell the name of the business, where it will be located, the services the machines will carry and the hours it is going to be accessible to the public. Assuming the venue is open, the machines could be making you money 24/7 365.

You do not have to provide extreme amounts of detail in this section. You’ll tackle the details in the next sections of the document.

Company Description

cupcake atm

Where can I find a cupcake ATM machine?

Why have you decided to put up an ATM business? Who will be the ones running this? A little background on your company will be of great help. This gives your reader an idea of what your business setup will be such as who is in charge of accounts, who will handle the replenishing of cash, and who is responsible for machine repairs and maintenance.

Again, just list down the roles briefly for you will have the opportunity to list down a detailed management structure later on.

ATMs are already known to dispense cash but what other services will your ATM business cover? In this section, write down an introductory list of services your business will be offering.

In this case, you service is simple. You provide access to cash. However, be sure to offer any unique aspects of your vending machines that could be used to differentiate the service.

  • Distribution of bills in different denominations ($10, $20, $50)
  • Some machines will allow you to make specialty purchases like stamps.
  • Does a certain portion of your proceeds go toward charity? That could be a differentiator.
  • Does you ATM machine have a green element and use less energy than competitors? This could sway environmentally aware consumers to use your service.

Customer Focus

You’d be surprised to know that not everyone uses ATMs. The younger generation has adopted the ATM more than senior citizens. Also be aware of the location you plan to place the ATM. If you’re installing the machine into an international airport, you may want to consider adding paper assets from other countries. Understand what the customers of your area truly need and adapt.

In this section, briefly state your customer focus for your ATM business since this will come in handy in visualizing the entirety of the business for your readers.

Mission Statement

atm machine rome

An ATM machine in Rome.

Even a simple ATM company business will need a mission statement. It will serve as the business’s goals so you can be steered in the right direction when you’re making important business decisions. It also helps you achieve success.

Related Reading: How to Write a Lemonade Business Plan for Kids + Sample Templates  

Here is a sample to give you an idea of how a mission statement would look like:

Cash 2 Go promotes ease of banking. We aim to provide cash for your needs as well as other banking services such as fund transfers and bills payments all at the convenience of one machine. One unique element of our machines is that we allow donate 5% from each transaction to the the Planetary Whale Fund. We also aim to make every transaction as secure as possible and to have our machines up and running twenty-four seven.

With this statement, you can tell how Cash 2 Go’s objectives are to dispense cash, provide basic banking services, and to ensure all their machines will be online all days of the week.

Any shortcomings will mean that the ATM company business has failed in following their mission statement. So make sure to practice and meet these objectives to provide a one hundred percent satisfaction rate from your customers.

Company Concept

ATM company businesses have a fairly simple concept. The main concept is to be able to provide cash for those who need it and cannot go to the banks at the moment. But if you need anything more to add, now is the time to write it down here.

Other concepts you might want to consider:

  • Providing a deposit function for both cash and checks
  • Viewing and requesting statements
  • Adding the option to buy cryptocurrency
  • The ability to buy lottery tickets or stamps

Do note that you’ll have to look for machines’ that can accept cash and checks since basic ATMs will only dispense cash.

Market Analysis

seeking donations

We are moving toward being a more cashless society.

The ATM company business has been around for a while and everywhere you go, you’ll probably spot a machine. But that shouldn’t hinder you from putting up your own. Writing up a market analysis will help you figure out if the ATM industry in your desired location is feasible or not so this will give you an idea of what to expect of your ATM business before you decide to operate.

In this section, expound further on the customer focus you mentioned above, study the industry around you, and do a competitive analysis to size up the competition you will possibly meet.

Target Market

Who are the people you are targeting for your ATM company business? Determining this before you start your operations helps you decide the services you’re going to offer, where to place your ATMs, and how to market your business.

Let’s take for example the people who need cash. That would be the people living in rural areas that have no access to banks within the vicinity and would be in need of ATMs. You can also include tourists and young adults who are relying on their parents’ debit cards.

Just be clear which market your business is catered to so you’re not lost on how to advertise your ATM business.

Industry Analysis

Are ATM businesses feasible? More importantly, is there a growth in ATM businesses around your proposed location? Studying the ATM business industry is crucial to the success of your business. An analysis will help you determine if you should push through with it or not, or if you should change some factors such as location to help your business become a success.

Remember that if you come across any results that show your business is not feasible, don’t blame the industry analysis. In a way, it helped you to stop putting up your business before you can push through with it otherwise you would have lost a big investment. So don’t skip this section of the business plan.

Competitive Analysis

There will be ATM businesses around your area so it’s best to note their pros and cons. Do they operate twenty-four seven? Do they accept deposits? How about bills payments? What rates do they have? These are the things you can take note of and compare with your own ATM business so you know which areas you can improve upon so that your business will be better than theirs.

Management Structure

An ATM business may not have a lot of staff since you’ll be letting the machines do all the work for you. But the maintenance behind it takes a few people.

Here are just some of the crew behind getting an ATM business to operate:

  • IT Admin or Maintenance Team
  • Sales and Marketing Manager
  • Customer Service Representative

The number of departments or staff will vary depending on how big your company will be.

Product Line and Services

atm obsolete

ATMs won’t be obsolete for many years if not decades.

As mentioned above, ATMs aren’t just known for dispensing cash. If you wish to have fund transfers, bills payments, cash, and check deposits, then you may also add them in this section.

Just be sure that the machines and system that you get for your ATM can carry all the features you wish for it to hold. Make sure you get the right specifications so you won’t have any trouble fixing things up in the future.

Also, make sure your system is secure. ATM hacks are common and hackers evolve through time. Have your IT admin do updates and security patches if need be. Make sure your security alarm and CCTV cameras are also functional so if anything happens, you can find the culprit fast.

Sales and Marketing

How do you market your ATM company business? Well, for a service that’s more of a necessity for a lot of people, advertising your ATM business shouldn’t be difficult.

Related Reading: Download Liquor Store Business Plan Sample Template + Doc

Location plays a great deal. Choose one where there is a lot of foot traffic and with shopping and food establishments around you. Chances are, people will need cash to pay for something so when they’ll spot your ATM conveniently within the vicinity, they’ll use it at once.

You can also advertise on social media and in print so you can reach a lot of people whether young or old.

Financial Plan

A financial plan helps you check the supplies you need to purchase, how much to charge for rates, and how long will it take you to reach break-even. This may seem intimidating but with a proper breakdown and a careful analysis, it will help you estimate how much to provide for your capital.

Funding Request

Business startups get their money by asking for a loan from the bank, inviting friends and families to invest in you, or simply to use a portion of your savings. But the most common one is usually to loan from the bank.

Banks will need some documents and even a business plan from you before they analyze whether or not to grant you a loan so prepare everything you need and make sure this plan will be able to convince them.

Financial Forecast

List down all the materials you need in building that ATM company business. Here is a list of things you might need and things you will be spending on:

  • Permits and licenses
  • Automated Teller Machines
  • Rental space
  • A head office
  • Marketing materials
  • Armored vans or delivery vans to transport your money in and out
  • CCTV cameras
  • Payroll for your staff
  • Maintenance Fees
  • Revenue splits with other businesses

Make sure your rates will also match the competition surrounding you so you do not overcharge. With these rates, you can then compute how long it will be for you to reach break-even per machine. By offering revenue splits with business owners, you can increase your chances of being placed in high-profit locations.

Operational Plan

Plan out a schedule for when you want to put your business plan into action. Don’t worry if the dates are all tentative. An operational plan just gives you a timeline for a possible startup date.

Here’s an example:

Date Plan [Insert Date Here] – Finalize the permits, licenses, business registration, and location for your ATM business. [Insert Date Here] – Start purchasing all your machines and system. [Insert Date Here] – Hiring and training your staff. [Insert Date Here] – Load money unto your ATM and start operations. [Insert Date Here] – Achieve objectives and reach break-even.

Every business will have a lot of references and documentation going on which includes photos, a list of expenses, permits, and many other legal documents. This is the section of the business plan where you’ll be able to file them.

Download Templates

Here are the ATM business templates you can download for free in PDF or Word Doc file types.

  • ATM Business Plan PDF Template
  • ATM Business Plan Template Word Doc
  • ATM Businesses may be costly due to the machines and systems you will be purchasing. But note that with a proper business plan and a good location, you’ll be able to profit off of it soon.
  • Automated Teller Machines can be purchased brand new or second-hand. Just make sure it’s not broken down if you decide on a second-hand machine to use to fit your budget. Buying used ATMs is a smart approach since you’ll invest less to start the business and will have lower financial risk.

In conclusion, an ATM business has the flexibility to be a small business venture managed in your spare time with the ability grow into a large corporation with thousands of locations. What matters is building a network of consistent locations that are profitable and an operation planning for filling machines with cash and making repairs. After all you won’t make a nickel in this business if the ATMs aren’t stocked with cash or operating correctly.

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How to Start a Profitable Atm Business [11 Steps]

Nick

By Nick Cotter Updated Feb 05, 2024

atm business image

Business Steps:

1. perform market analysis., 2. draft a atm business plan., 3. develop a atm brand., 4. formalize your business registration., 5. acquire necessary licenses and permits for atm., 6. open a business bank account and secure funding as needed., 7. set pricing for atm services., 8. acquire atm equipment and supplies., 9. obtain business insurance for atm, if required., 10. begin marketing your atm services., 11. expand your atm business..

Starting an ATM business requires a thorough understanding of the market to identify potential opportunities and challenges. A comprehensive market analysis will help in making informed decisions and strategizing effectively. Here are some key points to consider:

  • Research the current demand for ATMs in your target area by looking into the number of existing machines, their usage rates, and locations.
  • Identify your potential customers, such as retail businesses, entertainment venues, or areas with high foot traffic, and understand their specific needs.
  • Analyze competitors in the region to evaluate their services, fees, and customer satisfaction levels, which can offer insights into market gaps and areas for improvement.
  • Study demographic and economic data to predict future ATM usage trends, focusing on population growth, tourism rates, and the overall economic health of the area.
  • Evaluate the regulatory environment to ensure compliance with all laws and guidelines governing ATM operation and understand any potential legal barriers to entry.

atm business image

Are Atm businesses profitable?

Yes, ATM businesses can be very profitable. The key to success in ATM business is to have a good location and keep your machines well-maintained and up-to-date. Additionally, many ATM businesses use a variety of marketing tactics to draw in customers, such as offering discounts and loyalty programs. If done correctly, an ATM business can generate a steady stream of income.

Starting an ATM business requires a well-structured plan to outline your strategy and financial projections. A detailed business plan will serve as a roadmap for establishing and growing your ATM operations. Consider the following crucial components when drafting your plan:

  • Executive Summary: Summarize your business goals, target markets, and competitive advantages.
  • Market Analysis: Research the demand for ATMs in your chosen locations, and understand your competition.
  • Operational Plan: Describe the day-to-day operations, including how you will install, maintain, and service your ATMs.
  • Marketing Strategy: Detail how you will attract venue partners and promote your ATM services to the public.
  • Revenue Model: Explain how you will earn money, such as surcharge fees, and project your income and expenses.
  • Risk Management: Identify potential risks and outline strategies to mitigate them.
  • Financial Projections: Include projected profit and loss statements, cash flow forecasts, and a break-even analysis.
  • Appendix: Provide supporting documents, such as contracts, legal documents, and technical specifications of your ATMs.

How does a Atm business make money?

ATM businesses make money by charging fees for transactions. These fees are paid by customers for withdrawing cash from the ATM, making balance inquiries, and other services. The fees paid by customers are the main source of income for ATM businesses.

Creating a strong ATM brand entails developing a distinct identity that resonates with customers and sets your services apart from competitors. A well-defined brand can foster trust and recognition, ensuring that your ATMs are the preferred choice for consumers seeking convenient cash access. Consider the following steps to cultivate your ATM brand:

  • Identify your target market and tailor your branding to appeal to their preferences, whether they are tech-savvy millennials or value-driven baby boomers.
  • Choose a memorable name and logo that reflects the professionalism and reliability of your services, while also being easy to recognize at various locations.
  • Develop a unique value proposition that highlights the benefits of using your ATMs, such as superior security features, user-friendly interfaces, or widespread accessibility.
  • Ensure consistent branding across all touchpoints, including the physical appearance of your ATMs, user interface screens, receipts, and marketing materials.
  • Invest in quality customer service and user experience, as positive interactions with your brand will encourage repeat use and word-of-mouth recommendations.
  • Utilize social media and online marketing to build a community around your brand, engaging with customers and gathering feedback to continuously improve your services.

How to come up with a name for your Atm business?

When coming up with a name for your ATM business, think of words that evoke a sense of trust and safety. Consider words such as secure, trust, or safety. Additionally, it may be helpful to use a pun or play on words to make your name memorable. Lastly, be sure to research the name you’ve chosen to make sure it’s appropriate and hasn’t been taken by another business. With these tips, you’ll be sure to come up with a great name for your ATM business!

image of ZenBusiness logo

Embarking on the journey to start an ATM business requires you to officially register your venture. This step is crucial for legal operation, tax obligations, and establishing credibility with both suppliers and customers. Below is a guide to help you navigate the formalization of your business registration:

  • Choose a Business Structure: Decide on the most suitable business entity for your ATM business, such as a sole proprietorship, LLC, corporation, or partnership.
  • Register with the State: File the necessary paperwork with the state where your business will operate. This may include articles of organization for an LLC or articles of incorporation for a corporation.
  • Obtain an EIN: Apply for an Employer Identification Number (EIN) from the IRS for tax purposes, which is also necessary if you plan to hire employees.
  • Register for Taxes: Register with state and local tax authorities to obtain any necessary permits for sales tax, payroll tax, and other business taxes.
  • Acquire Business Licenses and Permits: Secure any local, state, or federal licenses and permits required to operate an ATM business legally in your area.
  • Open a Business Bank Account: Set up a dedicated bank account for your business transactions to keep finances separate from personal ones.

Resources to help get you started:

Access vital resources specifically compiled for ATM entrepreneurs aiming to gain insights on market trends, operational best practices, and strategic business growth:

  • ATM Marketplace: A comprehensive source for the latest news, technology, and market trends in the ATM industry. https://www.atmmarketplace.com/
  • National ATM Council (NAC): Offers resources, advocacy, and industry updates for ATM service providers and entrepreneurs. https://www.natmc.org/
  • ATM Industry Association (ATMIA): Provides access to global reports, best practices, and networking opportunities for ATM professionals. https://www.atmia.com/
  • International Journal of Electronic Banking (IJEBank): Features scholarly articles on trends and innovations in electronic banking, including ATMs. https://www.inderscience.com/jhome.php?jcode=ijebank
  • PaymentsJournal: A hub for news and analysis on the payments industry, including ATM operations and technologies. https://www.paymentsjournal.com/

Starting an ATM business requires a thorough understanding of the legal requirements, including obtaining the necessary licenses and permits. This process can vary depending on your location, the type of ATM business you plan to operate, and the specific regulations in place. Below are the key steps to ensure you have all the required documentation to legally run your ATM enterprise:

  • Research state and local regulations: Different states and municipalities have unique requirements for ATM businesses. Contact your local government or visit their website to understand the specific licenses and permits needed.
  • Register your business: Before applying for licenses, you'll need to register your business with the appropriate state authorities and obtain a Federal Employer Identification Number (EIN) from the IRS.
  • Apply for a business license: Secure a general business license from your city or county clerk's office to legally operate in your chosen location.
  • Obtain specialized ATM permits: Check if your state or local government requires a special permit to operate ATMs, especially if you're placing them in public or semi-public areas.
  • Compliance with banking regulations: Ensure compliance with federal banking regulations, such as the Bank Secrecy Act and Anti-Money Laundering laws, which may require additional registrations or reporting.
  • Contact financial institutions: Establish relationships with banks or credit unions, as you may need to partner with them and ensure your ATMs meet their network and security requirements.

What licenses and permits are needed to run a atm business?

Licenses and permits will vary depending on the state and location, but generally, businesses need a business license, a regulatory license from the state (if necessary), zoning permits to operate in certain areas, and a license from the ATM manufacturer. Additionally, some states may require additional permits or licenses for ATMs. In some cases, a business may also need to register with state or local authorities as a money services business.

Starting an ATM business requires careful financial management and securing adequate funding. A dedicated business bank account is integral to keeping your finances organized and professional. Here's how to navigate this crucial step:

  • Research banks that offer business accounts with low fees and good customer service. Consider those that provide additional services like online banking and merchant services.
  • Prepare the necessary documents such as your business registration, EIN, and personal identification to open your account.
  • Once your account is open, determine your initial capital requirements. This may include the cost of purchasing ATMs, cash to stock the machines, insurance, and funds for maintenance.
  • Explore funding options like small business loans, lines of credit, or partnerships if your initial capital isn't sufficient. Crowdfunding and angel investors are also viable sources of funding.
  • Develop a solid business plan to present to potential lenders or investors, showcasing your projected earnings and the growth potential of your ATM business.
  • Consider applying for business credit cards to manage smaller expenses. They can also help build your business credit profile for future financing needs.

When setting pricing for ATM services, it is crucial to strike a balance between competitive rates and profitability. Here are some guidelines to consider for creating a pricing structure that can attract customers while ensuring your business thrives:

  • Research the Market: Review the fees charged by other ATMs in your target area to establish a competitive range.
  • Cost Analysis: Calculate your operational costs, including machine maintenance, cash loading, rent (if applicable), and transaction processing fees.
  • Surcharge Fees: Set a surcharge fee that customers will pay per transaction. This fee should cover your costs and desired profit margin but remain fair to customers.
  • Interchange Revenue: Understand the interchange fees you'll receive from card issuers, as this will supplement your income from surcharge fees.
  • Dynamic Pricing: Consider implementing dynamic pricing where fees vary based on location, time of day, or transaction volume.
  • Volume Discounts: Offer discounts or lower fees for high-traffic locations where transaction volumes are greater.
  • Compliance Costs: Account for regulatory compliance costs in your pricing to avoid impacting your bottom line.

What does it cost to start a Atm business?

Initiating a atm business can involve substantial financial commitment, the scale of which is significantly influenced by factors such as geographical location, market dynamics, and operational expenses, among others. Nonetheless, our extensive research and hands-on experience have revealed an estimated starting cost of approximately $$6,000 - $28,000 for launching such an business. Please note, not all of these costs may be necessary to start up your atm business.

Starting an ATM business requires careful selection of the right equipment and supplies to ensure reliable service and customer satisfaction. It's important to invest in quality machines and maintain a stock of necessary items for smooth operations. Below you'll find guidance on how to acquire the necessary equipment and supplies for your ATM business:

  • Research ATM models from reputable manufacturers and compare features such as cash dispensing speed, security measures, and customer interface.
  • Consider purchasing both new and refurbished machines to balance cost and reliability.
  • Ensure the ATMs comply with current security standards, including EMV technology for chip cards.
  • Choose an ATM management software for monitoring, reporting, and managing your network of machines.
  • Set up relationships with cash loading services, or plan for secure cash transportation if self-filling the ATMs.
  • Stock up on receipt paper rolls, printer ink cartridges, and other consumables to minimize downtime.
  • Acquire maintenance tools and cleaning supplies to keep the ATMs in optimal condition.
  • Consider a maintenance contract with a professional service provider for technical support and repairs.

List of Software, Tools and Supplies Needed to Start a Atm Business:

  • Atm hardware and software
  • Security cameras and monitors
  • Computer and network equipment
  • POS terminals and software
  • Bank accounts and merchant services
  • Business insurance
  • Employee training materials
  • Branding and marketing materials
  • Online presence and e-commerce
  • Legal documents and contracts

Securing the right business insurance is a critical step in safeguarding your ATM business against potential risks and liabilities. It's essential to understand the types of coverage that may be required to protect your investment and ensure your operations run smoothly. Here are some key points to consider:

  • General Liability Insurance: This can provide protection against claims of bodily injury or property damage that occur at your ATM location.
  • Property Insurance: This helps cover the ATM machines themselves in case of theft, vandalism, or natural disasters.
  • Professional Liability Insurance: Also known as Errors and Omissions (E&O) insurance, this can protect your business from claims of negligence or failing to perform your professional duties.
  • Data Breach Insurance: Given the sensitive nature of financial transactions, this coverage can protect you in the event of a security breach that compromises customer data.
  • Business Interruption Insurance: If an unforeseen event causes your business to halt operations temporarily, this insurance can help cover lost income and expenses.
  • Consult with an Insurance Broker: An experienced broker can help you navigate the complex landscape of business insurance and find a policy that fits the unique needs of your ATM business.

Starting an ATM business requires not only the right equipment and locations but also effective marketing to attract clients and users. Your marketing efforts should focus on highlighting the convenience, security, and accessibility of your ATMs. Here are some strategies to get the word out about your ATM services:

  • Build a Website: Create a professional website showcasing your ATM services, locations, and contact information. Optimize it for search engines to help potential clients find you online.
  • Utilize Social Media: Leverage social media platforms to reach a broader audience. Regular posts about your ATM locations and features can engage potential customers.
  • Partner with Businesses: Establish partnerships with businesses that can benefit from having an ATM on their premises. Offer them a share of the transaction fees as an incentive.
  • Local Advertising: Advertise in local newspapers, radio, and community bulletin boards. Consider offering special promotions to new locations to boost interest.
  • Attend Trade Shows: Participate in local business expos and trade shows to network with business owners and promote your ATM services directly.
  • Referral Program: Implement a referral program that rewards current clients for referring new locations or businesses to your ATM services.

Expanding your ATM business is a pivotal step in scaling operations and increasing revenue. To ensure a successful growth, it's important to analyze market demand, strategically choose locations, and offer excellent customer service. Here are some key points to consider while expanding your ATM business:

  • Research the market to identify underserved areas or high-traffic venues where additional ATMs could be beneficial.
  • Build relationships with business owners and negotiate placement contracts for your ATMs in their establishments.
  • Invest in newer, more advanced ATM machines that offer a wider range of services to attract more users.
  • Implement a robust maintenance and service plan to ensure all your ATMs are functioning properly and reliably.
  • Consider diversifying your services by offering cashless transaction options such as mobile payments or contactless withdrawals.
  • Enhance your marketing efforts to raise awareness about your ATM locations and services.
  • Regularly review and analyze the performance of your ATMs to make informed decisions about further expansions or adjustments.
  • Explore partnerships with financial institutions or other businesses to leverage their customer base and increase transactions.

atm business plan template

How to Start an ATM Business (Complete Guide for 2024)

Starting a business may be a significant step to financial freedom. And it might surprise you, but you can actually start your own ATM business and make money off the fees when people withdraw cash. So, here’s how to start an ATM business.

  • Invest in a new or used ATM machine or consider leasing one
  • Find a high-traffic location where using cash is common
  • Hire a cash delivery service to handle reloading the machine
  • Ensure enough cash on hand to refill the machine monthly or as needed
  • Plan for more minor expenses such as receipt paper, the phone connection for the machine, insurance, and ongoing maintenance

This article offers a complete guide on starting an ATM business in 2022. An ATM business is a cool source of passive income.

We’ll look at the complexities, legalities, and what life is like as an ATM owner. But I’ll also cover whether you need a business license, how much you can make off ATM fees, and what the first step in creating your business model is.

Let us dive in!

Step-by-Step Instructions on Starting an ATM Business

Starting an ATM business can be a great way to make money and provide a valuable service to customers. However, it is important to understand the process and the steps involved in order to ensure success. Here are 14 steps on starting an ATM business:

Step 1: Research the Market

Before you start your ATM business, it is important to research the market and understand the competition. Look into what other businesses are offering in terms of services, fees, and locations. This will help you determine if there is a need for your services in the area and if you can offer something unique that will set you apart from other businesses.

Step 2: Choose Your Location

Choosing the right location for your ATM business is essential for success. Consider factors such as foot traffic, visibility, security, and accessibility when selecting a location. You should also consider any local regulations or zoning laws that may affect your business.

Step 3: Obtain Licenses & Permits

Before you can open your ATM business, you will need to obtain all necessary licenses and permits from local authorities. This may include a business license, sales tax permit, or any other permits required by law in your area.

Step 4: Purchase Equipment

ATM machines are expensive pieces of equipment that require regular maintenance and upkeep. Before purchasing any equipment, make sure to research different models and compare prices from different vendors to get the best deal possible.

Step 5: Find Suppliers & Vendors

You will need to find reliable suppliers and vendors who can provide you with cash for your ATMs as well as other supplies such as paper rolls or receipt tape. Make sure to research different suppliers before making any decisions so that you can get the best prices possible.

Step 6: Set Up Your Business Structure

Before opening your ATM business, it is important to set up a legal structure such as an LLC or corporation so that you can protect yourself from personal liability in case of any legal issues or disputes with customers or vendors. Consult with an attorney or accountant who specializes in setting up businesses so that they can help guide you through this process.

Step 7: Create a Business Plan

A well-written business plan is essential for success when starting an ATM business. Your plan should include information about your target market, pricing structure, marketing strategy, financial projections, and more. This document will serve as a roadmap for running your business and should be updated regularly as needed.

Step 8: Secure Financing

Securing financing is one of the most important steps when starting an ATM business since it will determine how much money you have available for startup costs such as equipment purchases or marketing expenses. Consider applying for loans from banks or investors if needed in order to get enough capital for launching your business successfully.

Step 9: Market Your Business

Once everything is set up and ready to go, it’s time to start marketing your new ATM business! Developing a comprehensive marketing strategy that includes both online and offline tactics will help ensure that potential customers know about your services and where they can find them when they need them most!

Step 10: Train Employees & Install Equipment

Once all of the necessary paperwork has been taken care of and financing has been secured, it’s time to start training employees on how to use the equipment properly so that they can provide excellent customer service when helping customers use their ATMs! Additionally, make sure all equipment is installed correctly according to manufacturer instructions before opening up shop!

Step 11: Open For Business!

After all of these steps have been completed successfully it’s finally time to open up shop! Make sure everything is ready before opening day so that customers have a positive experience when using your ATMs!

Step 12: Monitor Performance & Adjust As Needed

Once everything has been set up properly it’s important to monitor performance regularly in order to ensure everything is running smoothly at all times! Additionally make sure adjustments are made as needed based on customer feedback or changes in market conditions so that you stay ahead of competition!

Step 13: Expand Services & Locations As Needed

As demand increases over time consider expanding services offered by adding additional features such as check cashing or bill payment options at select locations in order increase revenue potential even further! Additionally consider expanding into new locations if there appears enough demand in those areas too!

Step 14: Stay Up To Date On Regulations & Trends In The Industry

Finally make sure stay up-to-date on regulations related specifically related ATMs industry as well as trends within this sector so that you remain competitive at all times! Additionally consider attending conferences related specifically related ATMs industry too so that you stay ahead of competition at all times!

Frequently Asked Questions

How much does it cost to start an atm business.

A new indoor ATM machine is approximately $2,500. Outdoor machines are closer to $10,000. Renting space for the machine can be $100 per month. A phone line for connecting to other banks is $30 a month. Replacing receipt paper is $50 per month, and armored cash delivery can be as much as $500 per month.

And occasionally, you’ll have maintenance costs on the machine, especially if it’s outside.

But there is no exact figure that translates into the cost of starting an ATM business. I would like to believe that anyone who wants to start a business would have a budget they want to work with.

Alternatively, you may want to find out how much it will cost to generate a business plan for the finances or adjust your budget.

A number of factors influence how much money you may need to own an ATM business. Let us look at them.

Cost of ATM Machine

The cost of an ATM varies based on the model, size, and age.

You can get a machine between $2000- $3000 if it’s going INDOORS. In addition, you can choose to purchase a brand new ATM or refurbished machine. Determining the type of machine is a crucial aspect for ATM business owners.

As I said above, automated teller machines at ATM locations that are outside can cost closer to $10,000 since they have to be both weather-proof and more secure from theft.

You may want to invest in a new machine as it usually comes with a warranty. However, if you buy used machines, it may require lots of repairs, reducing the gross profit.

After settling the issue of the ATM, up next is looking for a good location.

Again, it helps if you find small business owners willing to rent out a space to you. In addition, whatever rent you agree to should not be so much that it leaves you with little or no profits.

Alternatively, you can suggest sharing the revenue from the ATM business with the location owner. This way, you are sure to avoid extra losses.

Some places will naturally benefit from having an ATM in their location (cash-only restaurants, for example) and be happy to let you place your machine for free. But others may want a fee of $100/month.

Business Structure

Another factor that affects the cost of starting an ATM business is the business structure.

You can choose between a Limited Liability Company or an incorporated business. Usually, creating a legal document may range from $150- $200.

In addition, you may have to visit the State Attorney General’s office to register the business. The cost of the registration varies depending on the business entity. However, the range is between $10- $700.

Licenses and Permits

Before you start an ATM business, you must follow your state’s licensing requirements.

You must have thought of a business name which you will register with your county clerk. In addition, you may opt for a limited liability company.

This protects you from personal liability. Furthermore, you should get all necessary business licenses and permits by paying all required fees before commencing the business.

Purchasing ATM insurance is not compulsory.

You can decide to get it or not. The cost depends on what plan covers the machine and/or cash. The number of employees and location of the business may also influence it.

But on average, expect it to cost about $500/year to insure an ATM for up to $1,000,000 in general liability coverage.

However, remember to check if an insurance policy already covers the location. If it does, this will determine the type of insurance to purchase.

Most people who start the ATM business are available to run it.

However, if you have the vision to expand to other locations, you may need to hire workers. And either way, you’ll need a system to reload the cash into the machine(s) periodically. Armored car service is the most secure but can run $500/month.

Alternatively, there are other services that can do it for about $50/visit.

So, think about how crime-ridden the neighborhood is where you have the machine, how busy it is, and how often it will need to be refilled.

Ongoing smaller expenses

As I said above, you’ll need to refill receipt paper as needed, which should cost about $50/month.

Then you’ll need a phone line so your ATM equipment can connect to other financial institutions. That is often about $30-40/month.

Thank you to Robinson’s Barbershop of Kenner, LA for choosing @advantageatm_ as it’s ATM partner! Mr. Robinson has been a successful business owner for 20+ years. We’re happy we could help! pic.twitter.com/4UcQikHRoG — cash is king. (@advantageatm_) July 11, 2020

Is owning an ATM profitable?

Yes, owning an ATM is a profitable business.

There is an ATM almost everywhere you go. They may be your only option when you are in dire need of cash but far from your local bank branch.

You may wonder what I mean by ATM business is profitable since they are affiliated with big financial institutions. However, that is not what I am talking about. Instead, I mean those ATMs you find in gas stations or convenience stores without the big names on them.

One of the key motivating factors for venturing into any business is profit. Now, to the burning question at the back of your mind: how do ATM owners get profit?

A specific transaction fee is deducted whenever a person withdraws money from the ATM. As a result, the ATM owners get paid a price of about $3 per transaction. In addition, ATM owners earn from interchange fees of about $0.10- $0.20 for each transaction.

According to Bankrate:

“An ATM operator fee or surcharge fee is charged by ATM owners to non-customers using its ATMs.”

This is another way private ATM owners make money. The average cost of surcharge fee is $3.08. Whenever someone withdraws cash from your ATM, you earn an ATM fee of about $3.

Therefore, your profit will depend on how much cash people withdraw within a period. According to ATM Depot, the average number of transactions on one ATM is 180 within a month. Therefore, you can make an average of $540 every month.

If you have more than one ATM or location is in a region with high foot traffic, then you are sure to make more profits.

Well this is different. Never seen them filling the atm before…now i know what those trucks with money are for XD pic.twitter.com/NG0q9Q35ZS — Andrew (@ajskateman) July 20, 2015

Who fills money in ATMs?

The bank obviously refills ATMs at banks or is owned by them.

However, if you are unfamiliar with the ATMs, you may wonder who actually fills these private ATMs with money since they are not affiliated with any bank.

Suppose you are the outright owner of the ATM business. You can refill the machine without involving a third party. This option may be stressful, but it is the path to maximizing profit from the business.

One problem that ATM owners may face is having enough money to refill the machine. Therefore, ATM owners must have much cash as capital for refilling.

Another issue they may face is security.

ATM business owners need to find the safest time to refill the machine. If something goes wrong, they may lose a huge amount of cash. This is primarily a risk for the free-standing type of ATMs.

Therefore, it is not uncommon for ATM owners to hire a cash management company to take care of refilling the machine with money.

Of course, this method reduces the overall profit.

But you can have your peace of mind intact. Working with a cash management company is a secure way of handling funds. The company will also have insurance which means double coverage if anything happens when filling the machine with money.

In addition, ATM owners may seek partnerships with an ATM processor.

The ATM processor is responsible for filling the machine with money. They help them map out business processes and strategies for filling the machine with cash. Although ATM owners would have to pay for this service, there is better security coverage.

WinSouth Credit Union, a financial institution based in Northeast Alabama, has partnered with ATM USA, an ATM outsourcing company, to deliver three ATMs to its new branches. #WinSouthCreditUnion #ATMUSA #ATMoutsourcing Read more: https://t.co/BWX4QIlU6R pic.twitter.com/2Q96ErcNfK — АО «САГА Технологии» (@SAGA_Tech) September 25, 2021

Are ATMs a dying business?

No, the ATM business is not a dying sector.

Some people would like to argue that the world is going digital. Therefore, there is no future for ATMs.

And 50 years from now, that will likely be true.

However, as long as cash is still in circulation, there will always be a need for ATMs. Cash has been around for thousands of years, and it will not lose relevance overnight. This is because it is the most accessible means of payment.

Many people are adopting the cashless policy.

They prefer to pay for goods and services with their debit or credit cards. The world is going digital fast. Nevertheless, ATMs are evolving to meet the need of people in the digital world.

Digital payments are risky, and that is why cash will persist. It is not easy to keep track of digital transactions. However, there is proof of transaction in your email. It would contain personal information putting you at risk of identity theft.

In addition, digital payment is a contributing factor to the digital divide.

Some people do not have access to the internet required for digital transactions. Others do not have the necessary skills to manage digital finances. Individuals living in rural areas, the unskilled, and the aged are at a disadvantage with digital transactions.

On the other hand, cash is quick.

You don’t have to wait for proof of transaction status or deal with issues of insufficient funds. Furthermore, cash is accessible to everyone irrespective of social class, educational background, or tech skills.

The events of 2020 and beyond have actually increased the usefulness of ATMs.

Banks are restricting the number of individuals who come in to follow the social distancing regulations. ATMs can be fitted with big screens for advert placement. In addition, ATMs in stores may increase foot traffic and boost business.

Found this on an atm/change machine in the casino when I went to change a 20. Someone’s having a rough start to their Vegas weekend! #Vegas #nofunds pic.twitter.com/Skm8QHgDZK — Heath Johnson (@heathjohnson80) February 15, 2020

Where is the best place to put an ATM?

The best locations for ATMs are indoor locations with a lot of foot traffic, restaurants or bars that are cash-only, or locations adjacent to large flea markets or swap meets as long as events happen regularly .

So as you may have guessed, the biggest factor that influences the success of the ATM franchise is location.

Therefore, it is essential to consider a good location because you can only profit when people use your ATMs. Here are some factors to consider before choosing a location.

Areas where cash is preferred : the ATM location should be where cash is the staple for transactions. Some organizations accept only cash, which makes them one of the best places to put an ATM.

High traffic areas : areas with more traffic increase the chances of using the ATM. This is because it is in a visible location that is easy to access. In addition, high traffic areas may make customers feel safer when using the ATM.

Other ATMs in the areas : suppose there are other machines. You may need to do a thorough investigation before placing your ATM there. If the other ATMs are old and in poor condition, you have nothing to worry about. Also, if the foot traffic is incredibly high, there may not be much competition. If otherwise is the case, you should avoid these locations.

The following are the best places for putting your ATM:

  • Gas stations 
  • Convenience stores
  • Parking lots
  • Clubs and bars
  • Restaurants
  • Event centers
  • Universities and other institutes of learning
So I would never withdraw money from a free-standing ATM (cash machine), a converting a red phone box into one is admittedly a clever idea pic.twitter.com/ncaPMYHebb — The Travelphile (@TheTravelphile) September 1, 2019

What are the types of ATMs?

There are two types of ATMs: Freestanding and Through-the-wall ATMs.

In urban cities, you can find an ATM on almost every corner, gas store, and phone line. People can use their cards (debit or credit) to withdraw cash from any location. In addition, some ATMs allow for checks and cash deposits.

Let us take a look at the difference between the two.

Free Standing ATMs

Free-standing ATMs are the most popular ATMs owned by ATM operators. They are unattached to a wall or a building.

Instead, they are held by the ground. Free-standing ATMs are often provided to increase customers’ convenience, especially for organizations that accept only cash. For example, they are popular at movie theaters, grocery stores, and restaurants.

However, these machines do not receive deposits from customers for safety reasons. The benefit of free-standing ATMs is that they can be placed in any good location provided there is enough space and a constant power supply.

Through-the-wall ATMs

Through-the-wall ATMs are attached to the wall of a building or business.

This type of ATM offers more security features than its counterpart. Only the machine’s exterior, where customers can do their transactions, is on the outside.

The filling the ATM with money and other things take place behind the wall, out of prying eyes. However, through-the-wall ATMs require much space. This is because it requires constructing a room(s) based on the number of machines.

So, if you are opting for this type of ATM, do not forget to include construction costs in your budget plan. In addition, you may need to discuss the price of the area with the property owner.

Special thanks to our awesome business partner Citizen State Bank for our new ATM machine. This will better serve our students, staff and patrons. They are a great partner. ⁦ @AndrewRikli ⁩ ⁦ @PLCSchools ⁩ pic.twitter.com/vkYTu76jhV — Jeff Johnson (@papiojeff) April 22, 2019

What is a good name for an ATM business?

Finding a good name for an ATM business is a crucial decision of a sole proprietorship. The name is a representation of the business. Let us examine the steps in choosing a good name for an ATM business.

The first thing that influences a choice of name is the goals and vision you have for the business. You need to ask yourself fundamental questions like: “what is the target market? what emotions do you want to evoke in them?”

A clear answer to these questions helps to improve your understanding of the best ways to appeal to your potential customers.

Next is the fun part, which is brainstorming.

I would advise you to use paper and pen/pencil. Imagine what adjective you would like to be associated with your business. Allow the creative juice to flow and keep writing them down as they come.

Here are some brainstorming techniques:

  • You can work with the ATM business location
  • You can use words that evoke some emotions like secure cash ATM, Happy ATM, etc
  • You can use word puns or combine words in a fun way like Money Mill ATM, Great Citizens ATM, etc
  • There is the option of keeping it short and simple, like Safe ATM
  • In addition, you can use a name that represents something for you, like your favorite celebrity, your family name, etc.

Furthermore, you can try a business name generator.

The software will ask some questions that it will utilize in generating the ideal name for your business. It is okay if you do not like the name. It can be the spark you need to get name ideas flowing.

Finally, register the business name.

Before going to the appropriate office to register, it would help to find out whether the business name you chose is available. It should not come to you as a surprise if someone has already used your desired name to register their business.

What are the worst mistake to avoid when starting an ATM business?

Starting an ATM business can be a great way to make money, but there are some mistakes that can be costly. Knowing what these mistakes are and how to avoid them is essential for success.

Not Doing Your Research

One of the worst mistakes you can make when starting an ATM business is not doing your research.

You need to understand the industry, the regulations, and the competition in order to be successful. You should also research the different types of ATMs available and decide which one is best for your business. Additionally, you should research potential locations for your ATM and determine if they will be profitable.

Not Having a Business Plan

Another mistake to avoid when starting an ATM business is not having a business plan.

A business plan will help you stay organized and focused on your goals. It should include information about your target market, pricing structure, marketing strategy, and financial projections. Having a well-thought-out plan will help ensure that you are making informed decisions throughout the process of starting your business.

Not Understanding Regulations

It is also important to understand all of the regulations that apply to ATMs in your area before starting an ATM business.

Different states have different laws regarding ATMs, so it is important to familiarize yourself with these laws before getting started. Additionally, you should make sure that you are compliant with any federal regulations related to ATMs as well as any local ordinances or zoning requirements that may apply in your area.

Not Having Enough Capital

Having enough capital is essential when starting an ATM business.

You need enough money to cover start-up costs such as purchasing or leasing an ATM machine, obtaining necessary permits and licenses, and marketing expenses.

Additionally, you need enough money to cover operational costs such as maintenance fees and cash replenishment fees until your business starts generating revenue from transactions fees charged by customers using the machine.

Not Having Proper Insurance

Finally, it is important to have proper insurance when starting an ATM business in order to protect yourself from potential liabilities or losses due to theft or vandalism of the machine or other unforeseen circumstances.

Make sure that you have adequate coverage for both property damage and liability so that you are protected in case something goes wrong with your machine or someone gets injured while using it.

(The TRUTH) About How To Start An ATM Business | $2,646 Per Month

The ATM business is profitable.

And it can be the key to financial freedom for you. But it’s not always easy to start an ATM business, and there are some significant start-up costs to think about.

You can also read a recent article on my website about the keys to financial freedom.

There are essential factors you must consider to get the best from an ATM business. It helps if you choose a good and catchy name for the ATM business.

Also, get it registered and licensed to avoid any trouble with the law.

Before you venture into the ATM business, take time to study the location and the type of ATM best suited for it. In addition, make concrete arrangements concerning how the machine will be refilled with cash when necessary.

I hope this article has been useful in guiding potential ATM owners. Make the right decision today!

Image by Peggy und Marco Lachmann-Anke from Pixabay

Jeff Campbell

Jeff Campbell is a budget-master, father, full-time blogger, Disney-addict, musician, and Dave Ramsey fan. Click Here to learn more about me. Click Here to learn more about my site. Editorial Policies.

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How to Start an ATM Business With a Business Plan

Published Jan.26, 2024

Updated Apr.23, 2024

By: Noor Muhammad

Average rating 5 / 5. Vote count: 6

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ATM Business Plan

Table of Content

An ATM business is a type of business that operates and owns automated teller machines that dispense cash and offer other banking services to customers. Customers find ATMs easy and dependable to get cash from, and business owners can earn extra money from transaction fees and ads. But to start an ATM business, you need to plan, research, and invest in how to run an ATM if you’re an ATM business beginner. This ATM business plan sample will provide an idea for writing a successful ATM plan.

How to Write a Business Plan For an ATM Business

A business plan is a roadmap that explains how to start an ATM business step by step. A business plan like a microfinance business plan lays out what you want to achieve, how to set up an ATM, and the strategies. So, whether you are looking to secure funding or keep tabs on your progress, a solid business plan is the key.

Your ATM machine business plan should explain how to start an ATM business with no money and cover the following sections:

  • Executive Summary – A brief overview of your entire business plan, highlighting the key points and the primary purpose of your ATM business. Should make the reader curious, and tell your business idea, market chance, edge over others, money highlights, and pros and cons of the ATM business.
  • Company Overview – A full explanation of starting an ATM business, with its past, mission, vision, values, goals, and objectives. Should also have information about your ATM business license, legal form, owners, managers, and place, as explained in our collection agency business plan .
  • Market Analysis – A complete study of the market you work in, with the industry changes, size, growth, and future. Should study the customer groups, needs, likes, and actions, as well as the competition, strengths, weaknesses, chances, and risks.
  • Business Strategy – A clear explanation of how you will operate your ATM business, including your business model, your value proposition, your revenue streams, your cost structure, your pricing strategy, your distribution strategy, your customer service strategy, and your risk management strategy.
  • Financial Plan – A projection of your business’s financial performance, including your income statement, balance sheet, cash flow statement, break-even analysis, and financial ratios. It should also include your funding requirements, your sources of funding, and your assumptions and estimates. For example, refer to our credit repair business plan .
  • Marketing Plan – A detailed plan of how you will promote and market your business, including your marketing objectives, your marketing strategy, your marketing mix, your marketing budget, and your marketing metrics.

What is the Growth Potential for an ATM Business?

According to a report by Grand View Research, the global ATM market size reached USD 22.80 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 4.0% from 2023 to 2030.

Growth Potential for an ATM Business

Image Source – Grand View Research

Here’s some more intriguing insight that shows the growing ATM market:

  • There are around 3.5 million ATMs installed worldwide. 
  • The total number of active ATMs in the US is between 520,000 and 540,000.
  • The average withdrawal at an ATM amounts to around $80. (Source – Astute Analytica )

More and more people want automation, convenience, and security in the banking sector, especially in countries like China and India. This makes the industry grow. Also, new technologies, such as biometric authentication, smart ATMs, and mobile ATMs, can create more chances for the industry.

How much an ATM business can grow depends on many things, such as the place, the customers, the competitors, the number of transactions, the transaction fee, and the costs of running the business. Usually, an ATM business can profit 15% to 40% based on the number of machines, the number of transactions, and the bank business plan . But an ATM business also has problems, such as security risks, rules to follow, and costs of keeping and filling them.

Composition of an ATM Business Plan

To illustrate the composition of a business plan for ATM machines, we will use a sample ATM business plan for a fictional ATM business start-up called CashZone. CashZone is an independent ATM deployer (IAD) that operates and owns a network of ATMs in Florida. CashZone offers cash withdrawal, fund transfer, bill payment, and mobile top-up services. CashZone generates revenue from surcharge fees, interchange fees, and advertising fees.

Here is the company overview section of CashZone’s business plan that will explain how to start an ATM business in Florida:

Company Overview

CashZone is a start-up company that operates and owns ATMs in Florida. CashZone was founded in 2023 by Alex Right and Lucie Haynes, two entrepreneurs with experience and expertise in the ATM and banking industry. CashZone is registered as a limited liability company (LLC) in Florida and operates under the trade name CashZone Services.

CashZone wants to give customers easy, dependable, and safe cash access and make extra money for the business owners. CashZone wants to be the best ATM owner and operator in Florida, with top-quality machines having new features and functions and good advertising chances for local businesses.

CashZone’s goals and objectives are to:

  • Start its ATM business in 2024, starting with 10 machines in strategic locations in Florida.
  • Expand its ATM network to 50 machines by 2026, covering more areas and customer segments in Florida.
  • Achieve a market share of 10% in the industry in Florida by 2026.
  • Generate USD 500,000 in revenue and USD 100,000 in net profit by 2026. Refer to our financial advisor business plan to learn more.
  • Establish strategic partnerships and alliances with local businesses and financial institutions to increase its customer base and market share.

CashZone’s management team and staff consist of:

  • Alex Right, Co-Founder, and CEO, oversees strategy and vision with 10+ years in banking. Has an MBA and bachelor’s in business.
  • Lucie Haynes, Co-Founder and COO, manages daily operations and supervision with 8+ years in banking. Has a bachelor’s in engineering and ATM certification.
  • Chang Lee, CFO, handles financial planning, analysis, and reporting with 6+ years in accounting and finance. Has a bachelor’s in accounting and is a licensed CPA.
  • Lisa Kirk, CMO, leads marketing and sales with 5+ years in marketing and advertising. Has a bachelor’s in marketing and digital marketing certificate.
  • Tom Smith, CTO, oversees technology and innovation with 4+ years in IT and software. Has a bachelor’s in computer science and a software/security certificate.
  • 5 ATM operators and technicians maintain and repair machines, load cash, and reconcile. Have ATM operations experience and training.

Keys to Success

The keys to success for CashZone are:

  • Providing high-quality ATM machines that are secure, reliable, and user-friendly.
  • Choosing strategic locations with high traffic, visibility, and demand for ATM services.
  • Offering competitive surcharge fees that are affordable for customers and profitable for the business.
  • Building a strong relationship with customers.
  • Leveraging technology and innovation to enhance the functionality and efficiency of the ATMs.
  • Marketing and branding the business effectively to attract and retain customers.

Industry Analysis

The ATM industry is a large and growing industry. ATMs provide cash and convenience services to millions of customers worldwide. According to Market Research Community, ATM Market size was worth USD 21.41 Billion in 2022, accounting for a CAGR of 4.8% during the forecast period (2023-2030), and is projected to be worth USD 32.65 Billion by 2030.

ATM Industry Analysis

Image Source – Market Research Community

ATMs are very popular and widely used in the US. But the US ATM market also has some problems, like less people using cash, more people using digital payments, too many ATMs in some places, and higher costs and risks of running ATMs.

CashZone ATM wants to serve the people of Florida, who are about 22 million in 2024. Florida is a big and diverse state in the US, where many people need cash and convenient services. Florida is an appropriate place to do business because of:

  • Flexible rules
  • Affordable expenses
  • Strong economy
  • Great infrastructure
  • Booming tourism industry.

CashZone ATM’s target market segments are:

  • Tourists – Florida is a popular tourist destination. Florida received approximately 137.6 million visitors in 2022 (Source – Visit Florida). Cash is helpful for tourists who want to give tips, go street shopping, try local food, and have fun. They also like ATMs that are easy to use, trustworthy, and safe and have options for different languages, money types, and cash amounts.
  • Retirees – Florida is a retirement haven, hosting over 4.2 million seniors (20.1%) aged 65 and above (Source – Consumer Affairs). Retirees need cash for paying day-to-day bills, meeting medical expenses, shopping for groceries, etc. Retirees also prefer ATMs that are accessible, easy to use, and safe, as well as offer features such as big fonts, voice guidance, and fraud prevention.
  • Immigrants – Florida is a melting pot of cultures, with over 4.6 million foreign immigrants (21.2%) living in Florida (Source – Migration Policy Institute). Immigrants spend cash on things like sending money home, buying what they need, and more. Immigrants also prefer ATMs that are multilingual, multicultural, and affordable, as well as offer features such as currency conversion, money transfer, and low fees.
  • Low-income households – Florida is a state with high poverty and income inequality. According to U.S. Census Bureau data, over 2.87 million (12.7%) people are living in poverty in Florida. Low-income households need cash for various purposes, such as paying rent, utilities, transportation, etc. Low-income households also prefer ATMs that are convenient, reliable, and economical, as well as offer features such as no minimum balance, no surcharge, and no overdraft.

Your ATM Marketing Strategy

The marketing strategy section of CashZone’s business plan should include the following information:

  • The marketing objectives, such as increasing brand awareness, customer acquisition, customer retention, and revenue growth.
  • The marketing mix, such as the product, price, place, and promotion strategies for the ATM business.
  • The marketing budget, such as the allocation of funds for each marketing channel, method, and tool.
  • The marketing metrics, such as the key performance indicators (KPIs) and targets for measuring the effectiveness and efficiency of the marketing strategy.

For example, CashZone’s marketing strategy can be summarized as follows:

Marketing Objective

CashZone aims to increase the number of customers and transactions by 20% in the first year of operation.

Marketing Mix

  • Product – ATMs with cash withdrawal, fund transfer, bill payment, and mobile top-up. ATMs have biometric authentication, mobile integration, and smart features.
  • Price – $2.50 surcharge fee per transaction. Interchange fees from banks and advertising fees from merchants and advertisers.
  • Place – 50 ATMs in Florida at gas stations, convenience stores, shopping malls, and hotels. High traffic, visibility, and demand.
  • Promotion – Online advertising, social media, flyers, referrals, and word-of-mouth. Discounts, coupons, and loyalty programs for customers and merchants.

Marketing Budget

$10,000 for the first year of operation, which is allocated as follows:

  • Online advertising – $4,000 for Google Ads, Facebook Ads, and Instagram Ads, targeting customers by location, demographics, interests, and behaviors.
  • Social media – $2,000 for Facebook and Instagram, posting content and engaging with followers and customers.
  • Flyers – $1,000 for printing and distributing 10,000 flyers, featuring CashZone’s logo, slogan, services, locations, and contact information.
  • Referrals – $1,000 for a referral program, where customers and merchants earn $10 for each referral.
  • Word-of-mouth – $2,000 for building a positive reputation and image by providing excellent service, quality ATMs, and competitive prices.

Marketing Metrics

  • Brand awareness – The percentage of potential customers and merchants aware of CashZone and its services, measured by online impressions, social media followers, and flyer distribution.
  • Customer acquisition – The number of new customers who use CashZone’s ATMs, measured by the number of transactions, surcharge fees, and interchange fees.
  • Customer retention – The number of repeat customers who use CashZone’s ATMs, measured by the frequency of transactions, loyalty program enrollment, and referral program participation.
  • Revenue growth – The increase in the total revenue of CashZone, measured by the sum of surcharge fees, interchange fees, and advertising fees.

OGSCapital for Your ATM Business Plan

If you are confused about how to make an ATM business plan and looking for a professional and reliable business plan service, you have come to the right place. At OGSCapital, we have a team of experienced and qualified business plan consultants who can help you understand how to start an ATM machine business with our ATM business plan and related consultation services. We have been experts in making business plans for more than 17 years, and we have helped over 5,000 clients from 42+ industries get over $2.7 billion in money with our top-notch and tailored business plans.

We understand it’s a challenge of how to open an ATM business. We can help you create a strong and strategic business plan highlighting your benefits, market size, edge over competitors, and financial goals. We will also offer helpful tips and support on how to start and run an ATM business. No matter what your purpose is for having a business plan, we can make one that suits your requirements and expectations.

We have reasonable and flexible prices based on how challenging and urgent your project is. We ensure timely delivery, confidentiality, and quality of our work. Contact us today to get started!

Frequently Asked Questions

How much does it cost to start an ATM business? 

Starting an ATM machine in the US costs between $1,200 for a used model to $3,000 for a new, freestanding machine. But that’s not all. Setting it up and maintaining it costs extra. Hence, expect to budget $2,000-$5,000 or more to start an ATM business when accounting for all costs.

Is it worth it to start an ATM business? 

Are you confused about how to own an ATM machine for profit? ATM business profit in the US can be significant, with estimates of $450-$750 per month per machine. Starting ATMs in high-traffic areas can process over 800 transactions monthly, with potential gross profits of $6,624+ annually per machine. However, profitability depends on location, surcharge fees, and transaction volume.

Download ATM Business Plan Sample in pdf

OGSCapital’s team has assisted thousands of entrepreneurs with top-rate business plan development, consultancy and analysis. They’ve helped thousands of SME owners secure more than $1.5 billion in funding, and they can do the same for you.

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Home » Financial Services

A Sample ATM Business Plan Template

An automated teller machine (ATM) is an electronic telecommunications device that enables customers of financial institutions to perform financial transactions, such as cash withdrawals, deposits, transfer funds, or obtaining account information, at any time and without direct interaction with bank staff.

ATMs were originally developed as cash dispensers, and have evolved to provide many other bank-related functions. Anyone can start an automated teller machine business as long as they have the financial capacity, license, network, and business exposure.

The global ATM market size reached USD 20.18 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.9 percent from 2022 to 2028. The total number of ATMs in the United States is 425,000, Independently owned ATMs deployed 222,000 ATMs, and the Average ATM fee/Convenience fee is $2.77 (source-National ATM Council).

Steps on How to Write an ATM Business Plan

Executive summary.

Pickford Cash© ATM Services, Inc. is an American-based business that will operate independent automated teller machine services all across the United States. Although our business will be based in New Haven – Connecticut where we intend to position our automated teller machines (ATM) all across the city, we have plans to spread across major cities in the United States within record time.

Pickford Morgan is the founder and CEO of Pickford Cash© ATM Services, Inc.

Company Profile

A. our products and services.

  • Cash withdrawals, deposits, transfer funds, or obtaining account information
  • Paying routine bills, fees, and taxes (utilities, phone bills, social security, legal fees, income taxes, etc.)
  • Printing or ordering bank statements
  • Updating passbooks
  • Cash advances
  • Cheque Processing Module
  • Paying (in full or partially) the credit balance on a card linked to a specific current account.
  • Transferring money between linked accounts (such as transferring between accounts).

b. Nature of the Business

An ATM Services business is meant to operate the business-to-consumer model or transfer completely to a business-to-business approach.

c. The Industry

Pickford Cash© ATM Services, Inc. will operate in the Automated Teller Machine industry.

d. Mission Statement

Our mission is to make cash withdrawals, cash deposits and other financial services more accessible to all and sundry and the services will also include blockchain and cryptocurrency transactions.

e. Vision Statement

Our vision is to build an ATM services business that will have an active presence all over New Haven – Connecticut and other key cities in the United States of America.

f. Our Tagline (Slogan)

Pickford Cash© ATM Services, Inc. – Financial Services Any Time, Any Day, and Anywhere!

g. Legal Structure of the Business (LLC, C Corp, S Corp, LLP)

Pickford Cash© ATM Services, Inc. will be formed as a Limited Liability Company (LLC). The reason why we are forming an LLC is to protect our assets by limiting the liability to the resources of the business itself. The LLC will protect our CEOs’ assets from claims against the business, including lawsuits.

h. Our Organizational Structure

  • Chief Executive Officer (Owner)
  • ATM Custodian/Manager
  • Admin and Human Resources Manager
  • Sales and Marketing Manager
  • Information Technologist
  • Call Center Executives.

i. Ownership/Shareholder Structure and Board Members

  • Pickford Jude (Owner and Chairman / Chief Executive Officer) 51 Percent Shares
  • Gordon Wisdom (Board Member) 14 Percent Shares
  • Jude Soares (Board Member) 13 Percent Shares
  • Paul Nelson (Board Member) 12 Percent Shares
  • Zara Rodrick (Board Member and Sectary) 10 Percent Shares.

SWOT Analysis

A. strength.

  • Effective structures to help consumers enjoy a seamless digital experience when making use of our ATMs
  • Highly experienced and qualified employees and management
  • Active presence in key locations across cities
  • Access to finance from business partners
  • Water-tight strategies on how to expand beyond the major markets
  • Good returns on investment for our investors.

b. Weakness

  • Financial Constraints
  • A new business that will be competing with well-established banks with ATMs and other independent ATM service companies and traditional banks
  • Inability to retain our highly experienced and qualified employees longer than we want.

c. Opportunities

  • Partnerships and mergers between established banks are becoming more frequent.
  • Digital banking services are taking over
  • 46 percent of people exclusively use digital channels for their financial needs
  • Good support structure for independent ATM service companies in the United States of America.

i. How Big is the Industry?

It is safe to say that the Automated teller machine (ATM) industry is a massive industry. This is so because the total number of ATMs in the United States is 425,000 (source-National ATM Council), and Independently owned ATMs are 222,000 (source-National ATM Council).

ii. Is the Industry Growing or Declining?

The Automated teller machine (ATM) industry is growing rapidly and available data shows that the market surpassed USD 20 billion in 2020 and is anticipated to grow at a CAGR of 4 percent between 2022 and 2027.

iii. What are the Future Trends in the Industry?

New technologies, like machine learning/artificial intelligence, predictive behavioral analytics, and data-driven marketing, are what will determine the future trends in the Automated teller machine (ATM) industry.

iv. Are There Existing Niches in the Industry?

Yes, there are existing niche ideas when it comes to automated teller machine (ATM) business, and they are as follows;

  • Cash Dispenser ATM
  • White Label ATM.
  • Yellow Label ATM
  • Brown Label ATMs.
  • Onsite ATMs.
  • Offsite ATMs.
  • Crypto Exchange Platform.

v. Can You Sell a Franchise of your Business in the Future?

Pickford Cash© ATM Services, Inc. has plans to sell franchises in the nearest future and we will have a strong physical presence in key financial hubs (cities all across the world).

  • The arrival of a new ATM company within our market space
  • Unfavorable government policy and regulations.
  • Cyber security challenges
  • Liability problems
  • Continuously changing consumer demands especially as it relates to how they expect ATM service companies to serve them.

i. Who are the Major Competitors?

  • Capital One
  • Bank of America
  • Wells Fargo
  • BankMobile Vibe
  • ATM Money Machine, Inc.
  • Cardtronics
  • ATM Marketplace of Florida, Inc.
  • Phoenix Cash Systems A Division Of The World Is Mine Corp
  • Micro Resources International
  • Hyosung America | ATM Solutions
  • Payroll Corporation (“Mr. Payroll”)
  • Bitbox ATM machines

ii. Is There a Franchise for an Automated teller machine (ATM) business?

Yes, there are franchises for Automated teller machine (ATM) businesses are here are some of them;

  • ACFN – Initial investment: $39,230 – $63,820
  • Bitbox ATM machines – Initial investment: $38,590 – $157,980
  • Payroll Corporation (“Mr. Payroll”) – Initial investment: $68,800 – $328,000
  • ATM Money Machine, Inc. – Initial investment: from $2,100
  • BitCash USA – Initial investment: $13,500 – $250,000

iii. Are There Policies, Regulations, or Zoning Laws Affecting Automated Teller Machine (ATM) Business?

In the United States of America, the automated teller machine (ATM) machine business, like all financial services is regulated at both the state and federal levels. Each of the 50 states and the federal government has passed its own body of laws that may apply to financial services providers.

Please note that because of the scope, scale, and dynamism of the automated teller machine (ATM) services industry, the sector is often regulated by multiple regulators, both within certain types (e.g., multiple government regulators) and across types (e.g., governmental, self-regulators, and market regulators).

Please check with your zoning or planning department to find out what options are available to you.

Marketing Plan

A. who is your target audience.

i. Age Range

Our target market comprises adults above 18 years old who have the finance to do business with us.

ii. Level of Educational

We don’t have any restrictions on the level of education of those who will make use of our automated teller machines.

iii. Income Level

There is no cap on the level of income of the people that can use our automated teller machines.

iv. Ethnicity

There is no restriction when it comes to the ethnicity of the people that can make use of our automated teller machines.

v. Language

There is no restriction when it comes to the language spoken by the people that can make use of our automated teller machines. We have different language options in our ATM machines.

vi. Geographical Location

Anybody from any geographical location will be welcome to make use of our automated teller machines.

vii. Lifestyle

Pickford Cash© ATM Services, Inc. will not restrict people based on their lifestyle, culture, or race.

b. Advertising and Promotion Strategies

  • Host Themed Events That Catch Attention.
  • Tap Into Text Marketing.
  • Make Use of Bill Boards.
  • Share our Events in Local Groups and Pages.
  • Turn our Social Media Channels into a Resource
  • Develop our Business Directory Profiles
  • Build Relationships with players in the financial services industry.

i. Traditional Marketing Strategies

  • Marketing through Direct Mail.
  • Print Media Marketing – Newspapers & Magazines.
  • Broadcast Marketing -Television & Radio Channels.
  • OOH, Marketing – Public Transits like Buses and Trains, Billboards, Street shows, and Cabs.
  • Leverage direct sales, direct mail (postcards, brochures, letters, fliers), print advertising (coupon books, billboards), and referral (also known as word-of-mouth marketing).

ii. Digital Marketing Strategies

  • Social Media Marketing Platforms.
  • Influencer Marketing.
  • Email Marketing.
  • Content Marketing.
  • Search Engine Optimization (SEO) Marketing.
  • Affiliate Marketing
  • Mobile Marketing.

iii. Social Media Marketing Plan

  • Start using chatbots.
  • Create a personalized experience for our customers.
  • Create an efficient content marketing strategy.
  • Create a community for our target market and potential target market.
  • Gear up our profiles with a diverse content strategy.
  • Use brand advocates.
  • Create profiles on the relevant social media channels.
  • Run cross-channel campaigns.

c. Pricing Strategy

When working out our pricing strategy, Pickford Cash© ATM Services, Inc. will make sure it covers profits, insurance, premium, license, and economy or value and full package for each transaction. All our pricing strategies will reflect;

  • Cost-Based Pricing
  • Value-Based Pricing
  • Competition-Based Pricing.

Sales and Distribution Plan

A. sales channels.

Our channel sales strategy will involve using partners and third parties—such as referral partners, affiliate partners, strategic alliances in the automated teller machine industry, the finance and banking industry, and freelancers to help refer clients to us.

Pickford Cash© ATM Services, Inc. will also leverage the 4 Ps of marketing which are place, price, product, and promotion. By carefully integrating all these marketing strategies into a marketing mix, we can have a visible, in-demand service that is competitively priced and promoted to our customers.

b. Inventory Strategy

The fact that we will need cash supplies per time means that Pickford Cash© ATM Services, Inc. will operate an inventory strategy that is based on a day-to-day methodology for ordering, maintaining, processing, and feeding cash in our ATMs. We will develop our strategy with the same thoroughness and attention to detail as we would if we were creating an overall strategy for the business.

c. Payment Options for Customers

Here are the payment options that Pickford Cash© ATM Services, Inc. will make available to her clients;

  • Payment via automated teller machines

d. Return Policy, Incentives, and Guarantees

At Pickford Cash© ATM Services, Inc. we will refund our clients when the transaction does not pull through but the customer was charged. We will also guarantee our customers the safety of their card details and financial details.

e. Customer Support Strategy

Our customer support strategy will involve seeking customer feedback. This will help us provide an excellent return on investment (ROI) and customer service to all our clients and investors. We will work with effective CRM software to be able to achieve this.

Regularly, we will work towards strengthening our Customer Service Team and also Leverage Multi-Channel Servicing as part of our customer support strategy.

Operational Plan

We plan to expand our revenue by 50 percent in the second year and the plan will include a marketing, sales, and operations component. The operations component of the plan would include attracting investors and strategic partners like banks et al that will enable the firm to boost our service offerings and support revenue growth.

a. What Happens During a Typical Day at an ATM Services Business?

  • The office is open for the day
  • ATMs are loaded with cash
  • Documentation and other administrative works are conducted throughout the day
  • Marketers go out in the field to market our services
  • Transactions are facilitated and pending queries are resolved
  • Maintenance of the server and all payment gateways are carried out as scheduled.
  • Maintenance and servicing of ATM machines
  • The report for the day is written and submitted to the required authority
  • The office is closed for the day.

b. Production Process

There is no production process when it comes to the Automated teller machine (ATM) business.

c. Service Procedure

When it comes to the service procedure of ATM service providers, it is important to note that the internet service provider (ISP) plays an important role in ATMs. This provides communication between ATM and host processors. When the transaction is made, the details are input by the cardholder.

This information is passed on to the host processor by the ATM. The host processor checks these details with an authorized bank. If the details are matched, the host processor sends the approval code to the machine so that the cash can be transferred.

Please note that to use a cardless ATM, you need to open the app on your mobile device, choose the linked bank account you want to withdraw from, and tap your phone against the designated reader. To complete the transaction, the ATM will then prompt you to either type in your PIN (just as if you had inserted your physical card).

d. The Supply Chain

Pickford Cash© ATM Services, Inc. will rely on major banks to supply cash to us.

e. Sources of Income

Pickford Cash© ATM Services, Inc. makes money (commissions and charges) from offering the following services;

Financial Plan

A. amount needed to start your automated teller machine (atm) services company.

Pickford Cash© ATM Services, Inc. would need an estimate of $1.2 million to successfully set up our automated teller machine (ATM) company in the United States of America. Please note that this amount includes cash in our ATMs and the salaries of all our staff for the first month of operation.

b. What are the Costs Involved?

  • Business Registration Fees – $750.
  • Legal expenses for obtaining licenses and permits – $7,300.
  • Marketing, Branding, and Promotions – $5,000.
  • Business Consultant Fee – $2,500.
  • Insurance – $5,400.
  • Rent/Lease – $200,000.
  • Internet Infrastructure and Software Development – $250,000
  • Other start-up expenses include commercial satellite TV subscriptions, stationery ($500), and phone and utility deposits ($2,800).
  • Operational Cost (salaries of employees, payments of bills et al) – $80,000
  • Start-up Inventory – $15,000
  • Store Equipment (cash register, security, ventilation, signage) – $4,750
  • Furnishing, Equipping and ATM machines – $350,000
  • Capitalization Base: $500,000
  • Website: $600
  • Opening party: $3,000
  • Miscellaneous: $2,000

c. Do You Need to Build a Facility? If YES, How Much will it cost?

Pickford Cash© ATM Services, Inc. will not build a new facility for our ATM service company; we intend to start with a short–term lease for locations where we intend to install our ATMs.

d. What are the Ongoing Expenses for Running an ATM Services Company?

  • Server maintenance
  • Transaction fee to third-party providers
  • Transport and logistics
  • Utility bills (internet, phone bills, signage and sewage et al)
  • Salaries of employees

e. What is the Average Salary of your Staff?

  • Chief Executive Officer – $65,000 Per Year
  • ATM Custodian / Manager – $42,000 Per Year
  • Admin and Human Resources Manager – $39,000 Per Year
  • Information Technologist – $38,000 Per Year
  • Accountant – $35,000 Per Year
  • Call Center Executive / Customer Service Executive – $30,000 Per Year.

f. How Do You Get Funding to Start an ATM Service Company?

  • Raising money from personal savings and sale of personal stocks and properties
  • Raising money from investors and business partners
  • Sell shares to interested investors
  • Applying for a loan from your bank/banks
  • Pitching your business idea and applying for business grants and seed funding from the government, donor organizations, and angel investors
  • Source for soft loans from your family members and friends.

Financial Projection

A. how much should you charge for your service.

At Pickford Cash© ATM Services, Inc. our fee will be based on the volume of transactions on our payment platform. But averagely, we charge between $1.50 to $3.50.

b. Sales Forecast?

  • First Fiscal Year (FY1): $500,000
  • Second Fiscal Year (FY2): $750,000
  • Third Fiscal Year (FY3): $1.2 million

c. Estimated Profit You Will Make a Year?

The ideal profit margin we hope to make at Pickford Cash© ATM Services, Inc. will be between 2 and 5 percent.

d. Profit Margin of an ATM Service Company 

The average net profit margin of Pickford Cash© ATM Services, Inc. is approximately 12%. The average net profit margin can be higher or lower depending on our additional service offerings and the number of our overhead expenses.

Growth Plan

A. how do you intend to grow and expand .

Pickford Cash© ATM Services, Inc. will grow our automated teller machine (ATM) services company by first installing our ATMs in key cities in the United States of America within the first five years of establishing the business and then will start selling franchises from the sixth year.

b. Where do you intend to expand to and why? (Geographical locations)

Pickford Cash© ATM Services, Inc. plan to expand first to Los Angeles – California, New York City – New York, Chicago – Illinois, Washington, D.C., Boston – Massachusetts, Miami – Florida, Seattle – Washington, Dallas – Texas, and Philadelphia – Pennsylvania.

We intend to expand to these locations because available statistics show that the cities listed above have the highest and most thriving financial markets in the United States.

The founder of Pickford Cash© ATM Services, Inc. plans to exit the business via merger and acquisition. We have placed structure and processes in place that will help us achieve our plan of successfully merging with one of the leading players in the finance and banking industry or even in the automated teller machine (ATM) services industry. With that, we can rest assured that the business will be under the care of a well-structured management team.

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ProfitableVenture

ATM Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business ideas » Financial Service Industry » ATM

Start an ATM Business

Are you about starting an ATM business ? If YES, here is a complete sample ATM business plan template & feasibility report you can use for FREE .

An automated teller machine is an electronic device that enables customers of financial institutions to perform financial transactions such as cash withdrawals, deposits, transfer of funds, or obtaining account information at any time and without the need for direct interaction with bank staff.

ATMs were originally developed as cash dispensers, but have evolved to provide many other bank-related functions. Anyone can start an automated teller machine business as long as they have the financial capacity, license, network and business exposure. Below is a sample ATM business plan template that will help you to successfully write yours within record time.

A Sample ATM Business Plan Template

1. industry overview.

Independent ATM business operators are not banks but they install their ATM machines, fill them with cash and earn money every time a customer withdraws money from their ATM machines.

Once the money is taken out of your ATM, it is re-deposited into a bank account of your choice on a daily basis along with the surcharge fees. A portion of the surcharge fee is typically paid to the merchant in the form of a commission or split.

Additional revenue can be made on each ATM transaction in the form of interchange. All your machines can be monitored online through a portal where you can see real time information about how much cash is in each machine and how many transactions and fees have occurred.

The total cost of ownership of ATM network services is high, wherein buyers can expect to pay more than 100 percent of the benchmark purchase price per year in additional fees. Besides annual membership fees, buyers must pay transaction fees every time their cardholders use ATMs in the network. These fees include per-transaction switch fees paid to the ATM network provider, usually about two to ten.

The Automated Teller Machine industry is a thriving sector of the economy of the united states and statistics shows that the total number of ATMs in the United States is 425,000 (source-National ATM Council), Independently owned ATMs deployed- 222,000 (source-National ATM Council) and Average ATM fee/Convenience fee- $2.77 (source-National ATM Council).

Average commission payment-$.50-$1.00 (based on my analysis of 100+ portfolios and 10,000+ locations), and Average interchange net income-$.10-.20 (based on my analysis of 100+ portfolios and 10,000+ locations).

The costs for new machine, is between $2000 – $2500 and higher end machine with multiple cassettes and dispensers can run anywhere from $3000 and $6000. Fiserv Inc., CU Cooperative Systems Inc., Vantiv Inc., First Data Corporation and US Bancorp, ATM Network Services are the leaders in this industry.

A recent report published by IBISWorld shows that the ATM industry is highly concentrated, with the two largest companies controlling an estimated 66.7 percent of revenue in 2018. Major players have been extremely aggressive in acquiring smaller payment software companies and expanding their operations over the past five years, and IBISWorld expects further concentration as these trends continue.

Currently, NCR Corporation and Diebold are the largest US-based ATM manufacturers. Competition from abroad has tightened profit margins and prices on ATM systems. Consequently, most of the industry’s largest players operate in related industries to diversify their revenue sources.

There is a particular emphasis on self-service kiosk stations, payment, cash handling software and maintenance services. The ATM machine industry is a profitable industry and it is open for any aspiring entrepreneur to come in and establish his or her business.

2. Executive Summary

Fin Tech® ATM Services, Inc. is a US licensed and incorporated business that will operate independent automated teller machine services all across the United States.

Although our business will be based in Santa Fe – New Mexico where we intend positioning our automated teller machines (ATM) all across the city, but we have the plans to spread across major cities in the United States within record time.

We are in the business to perform financial transactions such as cash withdrawals, deposits, transfer funds, obtaining account information and other sundry services, at any time and without the need for direct interaction with bank staff. We are aware that there are several independent ATM service operators with ATM outlets all around Santa Fe – New Mexico, which is why we spent time and resources to conduct our feasibility studies and market survey.

Our customer care is going to be second to none in the whole of Santa Fe – New Mexico. We know that our customers are the reason why we are in business which is why we will go the extra mile to get them satisfied when they make use of any of our automated teller machines.

Fin Tech® ATM Services, Inc. will ensure that all our customers are given first class treatment whenever they use our ATM machines. We have a CRM software that will enable us manage a one on one relationship with our customers no matter how large they are.

We have put plans in place to operate a mini but standard call center/customer complaint center that will operate on a 24 hours basis for the sole purpose of resolving customer’s complaints. Fin Tech® ATM Services, Inc. is a family business that is owned by Lawrence Mullen and his immediate family members.

The business will be managed by his son Johnson Lawrence, a graduate of Business Administration who has extensive experience working with one of the leading ATM machine services companies in the United States of America. He will bring his wealth of experience and expertise to help build and grow Fin Tech® ATM Services, Inc.

3. Our Products and Services

Fin Tech® ATM Services, Inc. is in the industry for the purpose of making profits and we will ensure that we go all the way to make available a wide range of services as it relates to the industry in the United States of America. Here are some of the services that will be available in our ATM machines;

  • Cash withdrawals, deposits, transfer funds, or obtaining account information
  • Paying routine bills, fees, and taxes (utilities, phone bills, social security, legal fees, income taxes, etc.)
  • Printing or ordering bank statements
  • Updating passbooks
  • Cash advances
  • Cheque Processing Module
  • Paying (in full or partially) the credit balance on a card linked to a specific current account.
  • Transferring money between linked accounts (such as transferring between accounts)

4. Our Mission and Vision Statement

  • Our vision is to build an ATM machine service that will have active presence all over Santa Fe – New Mexico and other key cities in the United States of America
  • Our mission is to establish an ATM machine business that will make available a wide range of services at affordable charges to residents of Santa Fe – New Mexico and other key cities in the United States of America where we intend installing our ATM machines.

Our Business Structure

Our intention of starting an automated teller machine (ATM) services business is to build a standard business that has ATM machines in strategic positions in key cities around Santa Fe – New Mexico and of course other key cities across the United States.

We will ensure that we put the right structures in place that will support the kind of growth we have in mind while setting up the business. In putting in place a good business structure, we will ensure that we hire only people that are qualified, honest, customer centric and are ready to work to help us build a prosperous business.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more. In view of that, we have decided to hire qualified and competent hands to occupy the following positions;

  • Chief Executive Officer (Owner)
  • ATM Custodian/Manager
  • Admin and Human Resources Manager

Sales and Marketing Manager

Information Technologist

  • Client Services Executive

5. Job Roles and Responsibilities

Chief Executive Officer – CEO:

  • Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, appraising job results and developing incentives
  • Creates, communicates and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
  • Accountable for fixing prices and signing business deals
  • Responsible for providing direction for the business
  • In charge of signing checks and documents on behalf of the company
  • Evaluates the success of the organization

Admin and HR Manager

  • Responsible for overseeing the smooth running of HR and administrative tasks for the organization
  • Defines job positions for recruitment and managing interviewing process
  • Carries out induction for new team members
  • Responsible for training, evaluation and assessment of employees
  • Answerable for arranging travel, meetings and appointments
  • Oversees the smooth running of the daily office activities.

ATM Custodian/Manager:

  • Ensures that proper records of transactions are kept and our ATM machines does not run out of cash
  • Ensures that all our automated teller machines are in tip top state and function efficiently at all times
  • Interfaces with third – party suppliers (vendors) and our banks
  • Controls cash distribution and supply inventory all across our ATM machine locations
  • Models demographic information and analyze the volumes of transactional data generated by customers
  • Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
  • Represents the company in strategic meetings
  • Helps to increase sales and growth for the company
  • Manages and monitors the organizations ATM machine network and website
  • Responsible for installing and maintenance of ATM machines, computer software and hardware for the organization
  • Manages the organization’s CCTV
  • Handles any other technological and IT related duties.
  • Responsible for preparing financial reports, budgets, and financial statements for the organization
  • Provides managements with financial analyses, development budgets, and accounting reports
  • Responsible for financial forecasting and risks analysis.
  • Performs cash management, general ledger accounting, and financial reporting
  • Responsible for developing and managing financial systems and policies
  • Responsible for administering payrolls
  • Ensures compliance with taxation legislation
  • Handles all financial transactions for the organization
  • Serves as internal auditor for the organization

Client Service Executive

  • Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
  • Through interaction with clients on the phone, uses every opportunity to build client’s interest in the company’s products and services
  • Manages administrative duties assigned by the manager in an effective and timely manner

6. SWOT Analysis

Our intention of starting our automated teller machine (ATM) business with a dozen machines installed in strategic locations around Santa Fe – New Mexico is to test run the business for a period of 3 to 6 months to know if we will invest more money, expand the business and then install more machines.

We are aware that there are several ATM machines in Santa Fe – New Mexico and even in the same locations where we intend installing ours, which is why we are following the due process of establishing a business.

We know that if a proper SWOT analysis is conducted for our business, we will be able to position our business to maximize our strength, leverage on the opportunities that will be available to us, mitigate our risks and be equipped to confront our threats.

Fin Tech® ATM Services, Inc. employed the services of an expert HR and Business Analyst with bias in retailing to help us conduct a thorough SWOT analysis and to help us create a Business model that will help us achieve our business goals and objectives. This is the summary of the SWOT analysis that was conducted for Fin Tech® ATM Services, Inc.;

The strategic locations we intend installing our ATM machines, the business model we will be operating on, wide range of functions in our ATM machines, competent team members and our excellent customer service culture will definitely count as a strong strength for Fin Tech® ATM Services, Inc.

A major weakness that may count against us is the fact that we are a new automated teller machine (ATM) business and we don’t have the financial capacity to compete with older independent ATM companies when it comes to spread.

  • Opportunities:

The fact that we are going to install our ATM machines in some of the busiest streets in Santa Fe – New Mexico, provides us with unlimited opportunities to reach out to a large number of people who are likely going to make use of our ATM machines.

We have been able to conduct thorough feasibility studies and market survey and we know what our potential clients will be looking for when they visit our ATM locations; we are well positioned to take on the opportunities that will come our way.

Just like any other business, one of the major threats that we are likely going to face is economic downturn. It is a fact that economic downturn affects purchasing power which will ultimately affect ATM transactions. Some other threats that may likely confront us is the arrival of a new ATM machine in same location where ours is located and also down time due to technical problems from our technical partners.

7. MARKET ANALYSIS

  • Market Trends

The recent trend in this line of business shows that the price of ATM network services has been increasing at an estimated annualized rate of 1.0 percent in the three years to 2017. Greater demand for services and a lack of competition have facilitated this upturn in service prices.

Still, a decline in some of vendors’ input costs has tempered the magnitude of growth in rates for services. Meanwhile, price volatility has been low in recent time. External factors such as demand from commercial banking and consumer spending will impact industry performance.

It is now a common phenomenon for ATM machines companies to leverage on technology to effectively predict consumer demand patterns and to strategically position their ATM machines to meet their needs; in essence, the use of technology helps ATM machine businesses to maximize supply chain efficiencies.

No doubt data collected from customers goes a long way to help automated teller machine businesses serve their customers better.

8. Our Target Market

Perhaps the ATM machines business has the widest range of customers; everybody who owns a bank account has one or more things that they would need in an ATM machine. It is difficult to find people who own bank account and ATM cards who don’t make use of ATM machines.

Our competitive advantage

The competition that exists in the automated teller machine line of business is stiff because anyone can start the business despite the fact that it can be financial demanding. The automated teller machine (ATM) business requires expertise and any serious minded entrepreneur is likely to make good profit out of it.

One thing is certain, we will ensure that we have a wide range of services available in our ATM machines at all times. It will be difficult for customers to visit our ATM machines and not see the product that they are looking for. One of our business goal is to make Fin Tech® ATM Services, Inc. a one stop ATM machine.

We can boast of our ability to quickly adopt new technology, effective cost controls and proximity to key markets. So also, our excellent customer service culture, highly competitive services, reliable and easy to use automated teller machines and the visibility of our ATM machines and competent team members will serve as a competitive advantage for us.

9. SALES AND MARKETING STRATEGY

  • Sources of Income

Fin Tech® ATM Services, Inc. is established with the aim of maximizing profits in the automated teller machine line of business and we are going to go all the way to ensure that we do all it takes to sell our services to a wide range of customers.

Fin Tech® ATM Services, Inc. will generate income by offering the following services via our automated teller machines (ATM);

10. Sales Forecast

One thing is certain when it comes to automated teller machine (ATM) business, if your machines can perform a wide variety of services and are centrally positioned, you will always attract customers cum sales and that will sure translate to increase in revenue generation for the business.

We are well positioned to take on the available market in Santa Fe – New Mexico and we are quite optimistic that we will meet our set target of generating enough income/profits from the first six months of operation and grow the business and our clientele base.

We have been able to critically examine the automated teller machine industry, we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projection is based on information gathered on the field and some assumptions that are peculiar to startups in Santa Fe – New Mexico.

Below are the sales projections for Fin Tech® ATM Services, Inc., it is based on the location of our business and other factors as it relates to automated teller machine (ATM) services startups in the United States;

  • First Year: $240,000
  • Second Year: $550,000
  • Third Year: $950,000

N.B : This projection was done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and or major competitors positioning their ATM machines in same locations where ours are. Please note that the above projection might be lower and at the same time it might be higher.

  • Marketing Strategy and Sales Strategy

Before choosing locations to install our ATM machines, we conducted a thorough market survey and feasibility studies in order for us to penetrate the available market and become the preferred choice for residents of Santa Fe – New Mexico.

We hired experts who have good understanding of the industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in Santa Fe – New Mexico and every other city we intend installing our ATM machines.

In summary, Fin Tech® ATM Services, Inc. will adopt the following sales and marketing approach to win customers over;

  • Give our ATM machines a unique look, by painting them with bright colors or putting a large neon sign on it, so that it is easily recognizable to customers.
  • Creates a basic website for our business, so as to give our business an online presence (list the locations of our ATM machines)
  • Joins local independent automated teller machine associations for industry trends and tips

11. Publicity and Advertising Strategy

Despite the fact that our ATM machines will be well located, we will still go ahead to intensify publicity for the business. We are going to explore all available means to promote our automated teller machine (ATM) business.

Fin Tech® ATM Services, Inc. has a long term plan of installing our ATM machines in various locations in major cities in the United States of America which is why we will deliberately build our brand to be well accepted in Santa Fe – New Mexico before venturing out.

Here are the platforms we intend leveraging on to promote and advertise Fin Tech® ATM Services, Inc.;

  • Sponsor relevant community programs
  • Distribute our fliers and handbills in target areas
  • Position our Flexi Banners at strategic positions in the location where our ATM machines are located.

12. Our Pricing Strategy

We will ensure that we conform to the price model as established by the regulatory body in the United States of America.

  • Payment Options

Due to the nature of ATM machines, there are no options when it comes to payment for services other than to insert your ATM card in the ATM machine and then the machine will dispense cash or provide the information or services you requested for. We will make money from the service charge per transaction.

13. Startup Expenditure (Budget)

When it comes to starting an automated teller machine (ATM) business, the major areas you would spend the bulk of your cash is in the purchase of ATM machines, loading the ATM machines with cash and of course renting or leasing warehouse facility.

Aside from that, you are not expected to spend much except for paying of your employees, and the purchase of vans. These are the key areas where we will spend our startup capital;

  • The total fee for registering the business in the United States of America – $750.
  • Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and other software) – $1,300.
  • Marketing promotion expenses for flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
  • The cost for hiring Business Consultant – $2,500.
  • Insurance ( general liability , workers’ compensation and property casualty) coverage at a total premium – $2,400.
  • Cost for payment of rent for 12 months at $1.76 per square feet in the total amount of $105,600.
  • Cost for Warehouse remodeling (construction of racks and shelves) – $20,000.
  • Other start-up expenses including stationery ( $500 ) and phone and utility deposits – ( $2,500 ).
  • Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $60,000
  • The cost for the purchase of ATM machines – $25,000
  • The cost for the purchase of 2 fairly used delivery vans- $20,000
  • Cost of purchase and installation of CCTVs: $10,000
  • The cost for the purchase of furniture and gadgets for the office (Computers, Printers, Telephone, TVs, Sound System, tables and chairs et al): $50,000.
  • The cost of launching a website: $600
  • Miscellaneous: $10,000

We would need an estimate of five hundred thousand dollars ($500,000) excluding the working capital to successfully set up our automated teller machine (ATM) business in Santa Fe – New Mexico. Our target working capital is five hundred thousand dollars ( 500,000 ) and that is what we intend loading in our various ATM machines.

Generating Startup Capital for Fin Tech® ATM Services, Inc.

Fin Tech® ATM Services, Inc. is a family registered business that is owned and financed by Lawrence Mullen and his immediate family members. They do not intend to welcome any external business partners which is why he has decided to restrict the sourcing of the startup capital to 3 major sources.

  • Generate part of the startup capital from personal savings
  • Source for soft loans from family members and friends
  • Apply for loan from the bank

N.B: We have been able to generate about $200,000 ( Personal savings $150,000 and soft loan from family members $50,000 ) and we are at the final stages of obtaining a loan facility of $800,000 from our bank. All the papers and documents have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.

14. Sustainability and Expansion Strategy

It is an established fact that the future of a business lies in the number of loyal customers that they have, the capacity and competence of their employees, their investment strategy and the business structure. If all of these factors are missing from a business, then it won’t be too long before the business closes shop.

One of our most important goals of starting Fin Tech® ATM Services, Inc. is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.

We know that one of the ways of gaining approval and winning customers over is to offer our services (services charges) a little bit cheaper than what is obtainable in the market and we are prepared to survive on lower profit margin for a while.

Fin Tech® ATM Services, Inc. will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List/Milestone

  • Business Name Availability Check: Completed
  • Business Registration: Completed
  • Opening of Corporate Bank Accounts: Completed
  • Securing ATM machines: In Progress
  • Opening Mobile Money Accounts: Completed
  • Opening Online Payment Platforms: Completed
  • Application and Obtaining Tax Payer’s ID: In Progress
  • Application for business license and permit: Completed
  • Purchase of Insurance for the Business: Completed
  • Leasing of facility for warehouse and remodeling: In Progress
  • Conducting Feasibility Studies: Completed
  • Generating capital from family members: Completed
  • Applications for Loan from the bank: In Progress
  • Writing of Business Plan: Completed
  • Drafting of Employee’s Handbook: Completed
  • Drafting of Contract Documents and other relevant Legal Documents: In Progress
  • Design of The Company’s Logo: Completed
  • Printing of Promotional Materials: In Progress
  • Recruitment of employees: In Progress
  • Purchase of the Needed furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress
  • Creating Official Website for the Company: In Progress
  • Creating Awareness for the business both online and around the community: In Progress
  • Health and Safety and Fire Safety Arrangement (License): Secured
  • Establishing business relationship with banks and vendors – suppliers of all our needed products and ATM machines: In Progress

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BusinessPlanTemplate.com - The World's Leading Business Plan Template Directory

ATM Business Plan Template [Updated 2024]

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IX. Financial Plan

This Section's Contents

Revenue and Cost Drivers

Capital requirements and use of funds, key assumptions.

[Company Name]’s revenues will come from items sold from its ATM machines.

The primary cost will be the cost of the machines and their maintenance and repair. Marketing costs will also be a major cost driver, especially in the first few years as [Company Name] establishes itself in the market.

[Company Name] is seeking total funding of $100,000 of capital to launch. Specifically, these funds will be used as follows:

  • Commercial space lease and build out: $50,000
  • Purchase of initial ATM machines: $30,000
  • Working capital: $20,000 to pay for salaries and expenses until [Company Name] is cash-flow positive

  5 Year Annual Income Statement

You can download our Business Plan Template (including a full, customizable financial model) to your computer here.

Comments are closed.

ATM Business Plan Home I. Executive Summary II. Company Overview III. Industry Analysis IV. Customer Analysis V. Competitive Analysis VI. Marketing Plan VII. Operations Plan VIII. Management Team IX. Financial Plan

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How to Start an ATM Business

When a consumer needs access to cash, most are willing to pay a few dollars in service fees at the nearest ATM. Automatic teller machines strategically placed in public locations around town is a profitable way for entrepreneurs to earn a comfortable passive income.

Learn how to start your own ATM Business and whether it is the right fit for you.

Ready to form your LLC? Check out the Top LLC Formation Services .

ATM Business Image

Start an ATM Business by following these 10 steps:

  • Plan your ATM Business
  • Form your ATM Business into a Legal Entity
  • Register your ATM Business for Taxes
  • Open a Business Bank Account & Credit Card
  • Set up Accounting for your ATM Business
  • Get the Necessary Permits & Licenses for your ATM Business
  • Get ATM Business Insurance
  • Define your ATM Business Brand
  • Create your ATM Business Website
  • Set up your Business Phone System

We have put together this simple guide to starting your ATM Business. These steps will ensure that your new business is well planned out, registered properly and legally compliant.

Exploring your options? Check out other small business ideas .

STEP 1: Plan your business

A clear plan is essential for success as an entrepreneur. It will help you map out the specifics of your business and discover some unknowns. A few important topics to consider are:

What will you name your business?

  • What are the startup and ongoing costs?
  • Who is your target market?

How much can you charge customers?

Luckily we have done a lot of this research for you.

Choosing the right name is important and challenging. If you don’t already have a name in mind, visit our How to Name a Business guide or get help brainstorming a name with our ATM Business Name Generator

If you operate a sole proprietorship , you might want to operate under a business name other than your own name. Visit our DBA guide to learn more.

When registering a business name , we recommend researching your business name by checking:

  • Your state's business records
  • Federal and state trademark records
  • Social media platforms
  • Web domain availability .

It's very important to secure your domain name before someone else does.

Want some help naming your ATM Business?

Business name generator, what are the costs involved in opening an atm business.

While this type of business venture does not require an office space or a lot of supplies, there are a few things you will need to purchase. Total investment will be defined by how many machines you plan to start with. Each machine will cost between $3,000 and $10,000, depending upon the style you purchase. Each machine should have at least $2,000 in cash on a rotating basis. The only other items you should need is an insurance policy, a bag for transporting cash, tools for routine machine maintenance, and a reliable vehicle. Each machine must have access to a phone line or the Internet and you will need a computer for checking the status of each machine.

What are the ongoing expenses for an ATM Business?

Most machines require a minimum of $2,000 cash per week. Cash should be loaded in on a rotating basis. Many banks will charge your business a surcharge and merchants charge a monthly rent fee or commission, depending upon the contract both parties have agreed upon. New business owners are urged to conduct thorough research regarding your market, so that margins are correctly set from the beginning. This will help ensure higher profit margins for your ATM business.

Who is the target market?

Your ATM business is there to serve anyone who may need quick access to cash. Restaurants, bars, strip malls, convenience stores, and shopping malls are a great place to start.

How does an ATM Business make money?

An ATM business charges each customer a fee when they draw money out of their account.

The standard fee is $2.50 to $3.00 per transaction.

How much profit can an ATM Business make?

It’s important to choose high-traffic areas for your terminal locations. Successful business owners report an average of $500 per month, per ATM machine.

How can you make your business more profitable?

The more machines you have strategically placed, the higher your profits. Many new business owners find comfort in investing in franchises. Once you have learned the intricacies if this business venture, considering passing that knowledge on to new entrepreneurs by offering franchise opportunities.

Want a more guided approach? Access TRUiC's free Small Business Startup Guide - a step-by-step course for turning your business idea into reality. Get started today!

STEP 2: Form a legal entity

The most common business structure types are the sole proprietorship , partnership , limited liability company (LLC) , and corporation .

Establishing a legal business entity such as an LLC or corporation protects you from being held personally liable if your ATM Business is sued.

Form Your LLC

Read our Guide to Form Your Own LLC

Have a Professional Service Form your LLC for You

Two such reliable services:

You can form an LLC yourself and pay only the minimal state LLC costs or hire one of the Best LLC Services for a small, additional fee.

Recommended: You will need to elect a registered agent for your LLC. LLC formation packages usually include a free year of registered agent services . You can choose to hire a registered agent or act as your own.

STEP 3: Register for taxes

You will need to register for a variety of state and federal taxes before you can open for business.

In order to register for taxes you will need to apply for an EIN. It's really easy and free!

You can acquire your EIN through the IRS website . If you would like to learn more about EINs, read our article, What is an EIN?

There are specific state taxes that might apply to your business. Learn more about state sales tax and franchise taxes in our state sales tax guides.

STEP 4: Open a business bank account & credit card

Using dedicated business banking and credit accounts is essential for personal asset protection.

When your personal and business accounts are mixed, your personal assets (your home, car, and other valuables) are at risk in the event your business is sued. In business law, this is referred to as piercing your corporate veil .

Open a business bank account

Besides being a requirement when applying for business loans, opening a business bank account:

  • Separates your personal assets from your company's assets, which is necessary for personal asset protection.
  • Makes accounting and tax filing easier.

Recommended: Read our Best Banks for Small Business review to find the best national bank or credit union.

Get a business credit card

Getting a business credit card helps you:

  • Separate personal and business expenses by putting your business' expenses all in one place.
  • Build your company's credit history , which can be useful to raise money later on.

Recommended: Apply for an easy approval business credit card from BILL and build your business credit quickly.

STEP 5: Set up business accounting

Recording your various expenses and sources of income is critical to understanding the financial performance of your business. Keeping accurate and detailed accounts also greatly simplifies your annual tax filing.

Make LLC accounting easy with our LLC Expenses Cheat Sheet.

STEP 6: Obtain necessary permits and licenses

Failure to acquire necessary permits and licenses can result in hefty fines, or even cause your business to be shut down.

State & Local Business Licensing Requirements

Certain state permits and licenses may be needed to operate an ATM business. Learn more about licensing requirements in your state by visiting SBA’s reference to state licenses and permits .

Most businesses are required to collect sales tax on the goods or services they provide. To learn more about how sales tax will affect your business, read our article, Sales Tax for Small Businesses .

Services Contract

ATM businesses should consider requiring clients to sign a services agreement before installing a new machine. This agreement should clarify client expectations and minimize risk of legal disputes by setting out payment terms and conditions, service level expectations, and so on.

STEP 7: Get business insurance

Just as with licenses and permits, your business needs insurance in order to operate safely and lawfully. Business Insurance protects your company’s financial wellbeing in the event of a covered loss.

There are several types of insurance policies created for different types of businesses with different risks. If you’re unsure of the types of risks that your business may face, begin with General Liability Insurance . This is the most common coverage that small businesses need, so it’s a great place to start for your business.

Another notable insurance policy that many businesses need is Workers’ Compensation Insurance . If your business will have employees, it’s a good chance that your state will require you to carry Workers' Compensation Coverage.

FInd out what types of insurance your ATM Business needs and how much it will cost you by reading our guide Business Insurance for ATM Business.

STEP 8: Define your brand

Your brand is what your company stands for, as well as how your business is perceived by the public. A strong brand will help your business stand out from competitors.

If you aren't feeling confident about designing your small business logo, then check out our Design Guides for Beginners , we'll give you helpful tips and advice for creating the best unique logo for your business.

Recommended : Get a logo using Truic's free logo Generator no email or sign up required, or use a Premium Logo Maker .

If you already have a logo, you can also add it to a QR code with our Free QR Code Generator . Choose from 13 QR code types to create a code for your business cards and publications, or to help spread awareness for your new website.

How to promote & market an ATM Business

Unlike most business ventures, an ATM business requires little to no marketing. While you will not be directly interacting with your customers, you will communicate regularly with your merchants. Develop strong connections with them to ensure a long-term, mutually beneficial relationship. Networking with business owners in the community is a great way to ensure your name is recognized. When an entrepreneur opens a new business, your merchants will pass your name along, helping to solidify your business’ positive reputation.

How to keep customers coming back

It’s important to remember that each customer is coming to you out of convenience. Do not earn a reputation for having machines that are low on cash or always broken. Strive to deliver what they need, when they need it, at all times.

STEP 9: Create your business website

After defining your brand and creating your logo the next step is to create a website for your business .

While creating a website is an essential step, some may fear that it’s out of their reach because they don’t have any website-building experience. While this may have been a reasonable fear back in 2015, web technology has seen huge advancements in the past few years that makes the lives of small business owners much simpler.

Here are the main reasons why you shouldn’t delay building your website:

  • All legitimate businesses have websites - full stop. The size or industry of your business does not matter when it comes to getting your business online.
  • Social media accounts like Facebook pages or LinkedIn business profiles are not a replacement for a business website that you own.
  • Website builder tools like the GoDaddy Website Builder have made creating a basic website extremely simple. You don’t need to hire a web developer or designer to create a website that you can be proud of.

Recommended : Get started today using our recommended website builder or check out our review of the Best Website Builders .

Other popular website builders are: WordPress , WIX , Weebly , Squarespace , and Shopify .

STEP 10: Set up your business phone system

Getting a phone set up for your business is one of the best ways to help keep your personal life and business life separate and private. That’s not the only benefit; it also helps you make your business more automated, gives your business legitimacy, and makes it easier for potential customers to find and contact you.

There are many services available to entrepreneurs who want to set up a business phone system. We’ve reviewed the top companies and rated them based on price, features, and ease of use. Check out our review of the Best Business Phone Systems 2023 to find the best phone service for your small business.

Recommended Business Phone Service: Phone.com

Phone.com is our top choice for small business phone numbers because of all the features it offers for small businesses and it's fair pricing.

Is this Business Right For You?

Are you seeking a business investment that doesn't require an immense amount of time or investment? Do you enjoy interacting with other business owners throughout the community? If so, opening an ATM business may be the perfect business opportunity.

Want to know if you are cut out to be an entrepreneur?

Take our Entrepreneurship Quiz to find out!

Entrepreneurship Quiz

What happens during a typical day at an ATM Business?

The amount of time spent managing this type of operation varies, depending upon your skill set and the number of ATMs you own. Each machine must be kept in working order at all times. It should also contain enough cash to dispense 24/7. Anything less, and your business is losing money. Most ATM business owners have a regular route they tend to each day, where they check to ensure everything is working as it should. The rest of your team’s time is divided between administrative duties and nurturing relationships with vendors, banks, and the businesses that house your machines.

What are some skills and experiences that will help you build a successful ATM Business?

There is no formal training for owning an ATM business. Since this investment requires a significant amount of cash be on hand at all times, entrepreneurs must be skilled at handling cash and budgeting for future needs. A business degree or background is recommended. Strong interpersonal skills would also prove beneficial, as you will need to develop relationships with vendors, banks, and business owners throughout the community.

What is the growth potential for an ATM Business?

Consumers love convenience, making an ATM business a worthy long-term investment. The potential for growth is significant, as these small machines can be strategically placed wherever customers may need quick access to cash. A well thought out business plan will help you define and reach your short and long-term goals for growth and profit.

TRUiC's YouTube Channel

For fun informative videos about starting a business visit the TRUiC YouTube Channel or subscribe to view later.

Take the Next Step

Find a business mentor.

One of the greatest resources an entrepreneur can have is quality mentorship. As you start planning your business, connect with a free business resource near you to get the help you need.

Having a support network in place to turn to during tough times is a major factor of success for new business owners.

Learn from other business owners

Want to learn more about starting a business from entrepreneurs themselves? Visit Startup Savant’s startup founder series to gain entrepreneurial insights, lessons, and advice from founders themselves.

Resources to Help Women in Business

There are many resources out there specifically for women entrepreneurs. We’ve gathered necessary and useful information to help you succeed both professionally and personally:

If you’re a woman looking for some guidance in entrepreneurship, check out this great new series Women in Business created by the women of our partner Startup Savant.

What are some insider tips for jump starting an ATM Business?

Successful ATM business investors offer the following advice:

  • Conduct thorough research prior to purchasing your machines. Choose one manufacturer and use them for all your machines. This will prove beneficial as you and your team learn how to repair and replace parts over time.
  • While it will require more start-up capital, purchase a new machine with a 1-year warranty on parts. Older equipment leaves you open for potential issues and may not be equipped to handle evolving banking requirements/laws.
  • Make sure you understand EMV and that your machines are EMV compliant .
  • Have each of your merchants sign an agreement.
  • Map out your route with locations fairly close together to cut down on operating costs.

How and when to build a team

Most new ATM business owners start out managing the business alone. If your goal is to spread out over a large area, it may be necessary to hire additional team members for servicing. When considering hiring new team members, review their background and job history thoroughly, as they will be regularly handling a significant amount of cash. Additionally, each team member should have the knowledge and skills needed to perform routine maintenance on your machines.

Useful Links

Industry opportunities.

  • ATM Industry Association

Real World Examples

Further reading.

  • Mistakes to Avoid When Starting an ATM Business
  • Interview with an ATM Business Owner

Have a Question? Leave a Comment!

Legacy ATM

How to Start an ATM Business: A Complete Playbook for 2022

Written by welcome read – august 15, 2022, written by welcome read  – august 15, 2022.

How to start an ATM business

1:   ATM Business Introduction

2:   set up your corporation, 3:   find and secure locations, 4: buy and install atm machines, 5: manage your atms, are you thinking of starting an atm business if so, you’re in luck. this playbook will provide you with all the information you need to get started in 2022., we’ll go over everything from setting up your corporation to finding and managing locations. so whether you’re a new entrepreneur or just looking to expand your portfolio, read on for all the info you need to know about starting an atm businesses., 1: atm business introduction, before you get started on creating your atm business, it’s important to understand how the industry works. business owners in the atm industry are able to generate revenue through the surcharge and processing fees that customers pay when withdrawing money. through purchasing and placing atms within different high-traffic businesses in your area that are filled with your cash, you’re able to generate a steady stream of passive income., now you might be wondering, just how much money are you able to make from each machine well, with an average atm surcharge of $3 per transaction and an average of 180 transactions per month, your atms have the potential to generate over $540 per month in gross revenue or around $6,500 per year..

Man Using an ATM Machine

With most ATM machines costing around $3,000, that means that the average ATM owner is able to make their investment back in just under six months! Now there are obviously other costs to account for such as maintenance and rev shares with store owners, however, even if you cut the income you receive in half, that’s a yearly return of over 100%, try doing that with real estate.

2: set up your corporation, now that you’ve learned the ins and outs of the atm industry, it’s time to get started. in order to start an atm business, you first need to create a legal entity. whether you’re looking to create an llc, s-corp, partnership, or any other type of company, you’re going to need to file the appropriate paperwork., you can hire a lawyer to help you do this or use one of the many online tools available like zenbusiness . this is a great platform that will allow you to quickly and easily get your business off the ground without having to deal with a mountain of paperwork or the fees of a lawyer., once you’ve finished this step, we recommend that you create an official business plan to help you organize your thoughts into an actionable roadmap. make sure to include your sales process, budget, target market, competition, pricing strategy, and operational plans..

Woman planning an ATM business

Now that you have a legal entity and a business plan, it’s time to get a bank account. While this may seem like a fairly simple step, as a result of the Bank Secrecy Act (BSA) , which is a law that requires banks to adopt certain procedures to prevent money laundering, you may run into some difficulties. While some large banks may have an aversion to opening bank accounts for ATM businesses, smaller community banks are often more willing to do so, so make sure to try both.

Finally, you can start working on marketing materials like a logo, website, and social media profiles to ensure that potential customers can find you online. tools like squarespace can help you quickly create great looking websites and other tools like canva can help you design your logo, business cards, and more with easy to use, plug and play templates., 3: find and secure locations, once you’re done setting up your company, it’s time for the fun part, making money. to do this you’re going to have to start finding locations that you can place atms. often times this is one of the most difficult steps for people because it involves calling or visiting businesses in-person and selling them on the idea of letting you place an atm in their location., to streamline this process, we recommend creating a simple sales pitch outline that you can give to the owners of the businesses that you visit. once you’ve created a pitch that you’re comfortable with, call around to locations in your area to see if they have an atm. some of the most profitable location types include bars, nightclubs, dispensaries, convenience stores, and really any cash only business that you can find..

Woman pitching an ATM

Now that you know which businesses in your area don’t have an ATM, you can visit those locations and give your pitch. If they’re interested in letting you place an ATM in their business, you can then get them signed up and get the ATM delivered.

Make sure you create a lawyer approved contract that details the commitments of the agreement and have the business owner either sign it in person or send it to them online via a tool like pandadoc ., so now that you have locations that have agreed to let you place an atm in their businesses, you’re going to need to purchase and install those atms. there are many different atm machines for you to choose from but we highly recommend that you purchase something like the hyosung halo ii . this atm is arguably the most reliable atm on the market and is relatively affordable coming in at only $2,310 on the legacy atm marketplace ., additionally, if you order from legacy atm, we’ll ship the atm directly to you or your target location at no cost (if you’re in the united states)..

Taking delivery of an ATM

Once you’ve taken delivery of your ATM, it’s time to install it. In order to do this you’re going to need several tools including a dolly, scissors, hammer drill, and respective drill bit for the floor type. Start by taking the ATM out of the packaging and placing it in the spot that you and the business owner have agreed upon. You’re then going to want to drill four holes 2-3/4″ deep using a 1/2″ drill bit before hammering in your anchors and tightening them with a 3/4″ wrench.

Once your ATM has been secured to the ground, you’re going to need to plug it into the nearest AC power outlet and connect it to the internet via the ethernet wires provided or an ATM wifi router package.

Now that you have power and internet, you can start programming the ATM. In order to do so you’re going to need to partner with a reputable ATM processor that will serve as the critical link between your machines and the various payment networks including Visa, Mastercard, Discover, American Express, etc. This will ensure that customers can make secure transactions at your ATM and all surcharge is directed towards the correct account(s).

Should you choose to process with Legacy ATM , we can walk you step-by-step through the entire programming process while providing you with lightning fast processing, simplified fees, and automated reports and notifications to help keep you informed about your ATMs.

Now that you’ve found locations and installed your ATMs, it’s time to monitor your machines and ensure that they’re all running properly. It’s important to routinely check each ATM to make sure that they aren’t having any issues and that they are stocked with a sufficient amount of cash. Legacy ATM Processing provides you with automated notifications and reports so that you’re able to quickly respond to any issues regarding low cash balances or errors (We also provide 24/7 phone support should you run into any issues with your ATM).

Woman using an ATM

While a large portion of this business model is passive, you still need to make sure that you’re properly maintaining the ATMs in your fleet. Put aside a few hundred dollars per year for each machine to make sure that you have the budget to replace any broken parts or hire a technician if needed. Every second your ATM is down is time that it isn’t making you money so it’s essential that you stay on top of any issues that pop up.

Final thoughts, so, there you have it. everything you need to know in order to start your own atm business. of course, this is just a basic overview and there are many details that we can’t cover in a single blog post. but, if you want more information or have any questions, please don’t hesitate to contact us., we would be happy to help get you started on your new venture. and remember, when it comes to atms, the sky is the limit, p.s. you can also click here to browse our selection of atm machines and find the perfect one for your business. thanks for reading and good luck with your future endeavors.,      contents, 1.   atm business introduction, 2.   set up your corporation, 3.   find and secure locations, 4.   buy and install atm machines, 5.   manage your atms.

Man Using an ATM Machine

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Sample ATM Business Plan

  • January 13, 2023

Here is how to write an ATM business plan .

It won’t be easy to find people who don’t use ATMs. These have become a part of our daily lives and offer convenience to financial transactions. There’s an entire industry structured around the ATM business.

You’ll need a plan if you’re drawn towards or want to start an ATM-related business.

However knowledgeable you are about this sector, having a plan will prove invaluable. This is why we’re providing you with a guide to work with.

SEE: How Much Do ATMs Hold?

As expected, this ATM business plan guide highlights key areas to include in your plan.

Without these sections, such a plan will be incomplete.

ATM BUSINESS PLAN SAMPLE

Your ATM business plan should contain certain key elements or sections, such as the executive summary and company description.

Others include the products & services section, market analysis, strategy & implementation, organization & management team, and financial plan & projection sections.

Executive Summary

Here, you want to present a concise overview of what your ATM business is all about. It’s a condensed introduction that must contain all the key points fully explained in the preliminary plan.

Your ATM executive summary section will appear first. However, that isn’t the order it should follow when writing it. It’s essential to keep it for last. This way, you can write a better summary of the contents of your plan.

Certain elements shouldn’t be left out in your executive summary section. These include identifying the problem, your solution, company, business description, and market analysis.

Other vital elements should include the products & services section, financial information & projections, and plans. All of these should fit into a few pages (preferably one or two)

Identifying a Problem and Solution

Your ATM business executive summary section should be informative.

Here, you hold the attention of your reader(s). A significant level of creativity is needed to convey your ideas. Every good business idea should solve the problem.

So, what standard ATM or financial issues do people have? Your first paragraph should be an attention grabber.

Company or Business Description

Describing the specific financial services you offer helps get you the needed funding.

Include information on when you formed your ATM business, services, products, and location. You’ll also need to include founders, executive team members, and names.

Market Analysis

Despite being a summary, the market analysis must include information on your competitors. You must state demand for your ATM services as well. Additionally, you’ll need to identify what makes your business unique.

Products & Services

There are tons of ATM-related financial services. What does your business offer? Clearly state these and provide information on current sales, growth, and unique selling points.

Financial Information & Projections

The executive summary section of your ATM business plan should have a financial overview. Remember, only the highlights are required here, as you will find the full details in the main body.

Future Plans

It would help if you had a plan for your ATM business. This shows that you’re growth-oriented. Here, you want to state what you intend to use funds on and where your expansion plans are headed.

2. Company Description

In writing a company description for your ATM business, you’ll need to state who you are clearly. This includes the name of your business as well as your name. If there are any partners, you must also have their names.

Who is your target customer? In other words, you want to identify to who you’re selling your financial services. Identifying the “what” is essential to describe your company. Investors will need to know what your ATM business is about, as well as the goals you have.

A timeline for achieving your goals is crucial, hence the “when.” Include and explain why people need your ATM services too.

3. Products & Services Section

When you established an ATM business, you intended to provide specific services. All such services will need to be delivered in detail under this section.

This includes a clear benefit to your customers and the business.

4. Market Analysis

This is where all the data from your research will be made available.

Under this section, you’ll need to provide information about the financial services sector and the outlook. There should be a transparent target market and market test results.

You’ll also need to discuss the lead time (regarding financial products on offer) and competitive analysis. To do a good job, a lot of online research is necessary.

Also, put yourself in your customers’ shoes when drafting your market analysis.

You’ll need to be concise in your approach and infuse some visual aids to help with straightforward interpretation.

5. Strategy & Implementation

Under this section, you’ll need to provide information on how you intend to promote your ATM business.

Details on pricing, distribution, ATM Costs , and promotions will also need to be included. Others include operations cycle, number of employees, and labor sources are essential additions to consider.

6. Organization & Management Team

An ATM business will require an efficient organization and management team to drive its operations.

You’ll need to include organization charts with critical employees and roles here. Owners will need to be named and their share percentages provided.

Naming the members of your management team alone won’t do. You’ll need to state their past experiences, occupied roles, and primary responsibilities.

7. Financial Plan & Projection

You should carefully write the financial plan & projection sections of your ATM business to include the sales forecast and an expense budget.

Other important aspects include the cash flow statement, the profit & loss statement, the balance sheet, and the break-even projection.

These are the primary contents your ATM business plan should include. Structuring your strategy around these would greatly help develop an excellent program.

It’s essential to perform all necessary research before putting down a plan. The better your research, the more likely your plans will succeed.

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Sample Saffron Farming Business Plan

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ATM Business Plan

Are you about to start an ATM business?  here is a complete example of ATM business plan model feasibility study that you can use for FREE   .

Ok, so we’ve gone through all the requirements for starting an ATM business, we’ve also gone a step further by analyzing and writing a sample ATM business plan template backed by actionable guerrilla marketing ideas for ATM companies. So let’s move on to the business planning section.

Why start an ATM business?

An ATM is an electronic device that allows customers of financial institutions to perform financial transactions such as cash withdrawals, deposits, money transfers or account information at any time without the need for interaction. direct with bank employees. ATMs were originally designed as ATMs, but have evolved to provide many other banking functions.

Anyone can start an ATM services business if they have the financial capacity, licenses, networks, and business.

If you are convinced that this type of business is something that you really want to do after doing market and feasibility research, the next step is to write a good business plan; a detailed preliminary report on how you plan to increase your start-up capital, start a business, acquire reliable ATMs, manage trade flows, distribute taxes and promote your services.

The truth is, it’s one thing to have a fantastic idea – a business plan, and another to translate a business plan into money (profit), so it’s important to build a team of experts with whom work if you want to be successful with your ATM. machinery company.

Below is a sample ATM business plan template to help you successfully write your plan in record time.

Sample ATM Business Plan Template

  • Overview of activities

Independent commercial ATM operators are not banks, but they set up their ATMs, fill them with cash, and every time they earn money, the customer withdraws money from their ATMs. automatic. Once the money is withdrawn from your ATM, it is returned daily to the bank account of your choice with an additional fee. A portion of the commission is usually paid to the seller as a commission or split.

Additional income can be obtained for each ATM transaction in the form of an exchange. All of your computers can be monitored online through the portal, where you can see real-time information about the amount of money on each computer and the number of transactions and charges.

The total cost of ownership for ATM network services is high, with customers expecting more than 100% of the base purchase price per year in additional charges. In addition to the annual membership fee, buyers must pay for transactions each time their cardholders use network ATMs. These fees include the per transaction fee paid to the network vending machine provider, typically between two and ten.

The ATM industry is a thriving sector of the United States economy, and statistics show that the total number of ATMs in the United States is 425,000 (source – National ATM Board), the number of ATMs detainees is 222,000 (source – National ATM Board). and the average ATM / convenience fee is $ 2.77 (source – National ATM Council) and the average fee is $ 50- $ 1.00 (based on my analysis of over 100 and more wallets of 10,000 locations) and the average net income from the exchange is $ 10-20 (based on my analysis of over 100 portfolios and over 10,000 locations).

The cost of a new machine ranges from $ 2,000 to $ 2,500 and up, as a machine with multiple cassettes and dispensers can cost anywhere from $ 3,000 to $ 6,000. Fiserv Inc., CU Cooperative Systems Inc., Vantiv Inc., First Data Corporation and US Bancorp ATM Network Services are leaders in this industry.

A recent report published by IBISWorld shows that the ATM industry is strong. In 2021, the two largest companies controlled 66.7% of revenue. Major players have been extremely aggressive in acquiring smaller payment software companies and expanding their operations over the past five years, and IBISWorld expects increased focus as these trends continue. p80>

NCR Corporation and Diebold are currently the largest manufacturers of ATMs in the United States, and foreign competition has tightened the margins and prices of ATM systems. Therefore, most of the biggest players in the industry work in related industries in order to diversify their sources of income. The focus is on self-service kiosks, payment software, cash management and maintenance services.

The ATM industry is a lucrative industry and any budding entrepreneur can come and start their own business.

Summary of ATM business plan

Fin Tech® ATM Services, Inc. is a licensed and registered US company that will operate independent ATM services throughout the United States. Although our company is based in Santa Fe, New Mexico, where we plan to set up our ATMs throughout the city, we plan to reach major US cities in record time.

We process financial transactions such as cash withdrawals, deposits, money transfers, account information and various other services at all times and without direct interaction with bank staff.

We recall that there are several independent ATM operators with branches in Santa Fe, New Mexico, so we have devoted time and resources to conduct feasibility studies and market research.

Our customer service will be second to none throughout Santa Fe, New Mexico. We know our customers are the very reason we do business, so we will go the extra mile to keep them happy when they use one of our ATMs.

Fin Tech® ATM Services, Inc. ensures that all of our customers receive first-class service when using our ATMs. We have CRM software that will allow us to manage individual relationships with our clients, regardless of their size.

We have made plans for a mini but standard customer call center / complaints center that will operate 24 hours a day for the sole purpose of resolving customer complaints.

Fin Tech® ATM Services, Inc. is a family business owned by Lawrence Mullen and his immediate family. The company will be headed by his son Johnson Lawrence, a graduate in business administration who has extensive experience with one of the leading ATM service companies in the United States of America. He will share his wealth of experience and knowledge to help build and develop Fin Tech® ATM Services, Inc.

  • Our service offer

Fin Tech® ATM Services, Inc. operates in the industry for profit, and we will do our best to provide a wide range of industry-related services in the United States of America. Here are some of the services that will be available at our vending machines:

  • withdraw money, deposit funds, transfer funds or get account information
  • payment of regular bills, fees and taxes (utility bills, telephone bills, social security, legal fees, income tax, etc.)
  • Printing or ordering bank statements
  • Updating directories
  • Cash advances
  • Check processing module
  • Payment (in whole or in part) of the credit balance on the card associated with a specific current account.
  • Money transfer between linked accounts (for example, as a transfer between accounts)

Our vision statement

Our vision is to create an ATM service that will have a strong presence throughout Santa Fe New Mexico and other key cities in the United States of America.

  • Our mission statement

Our mission is to create an ATM business that will make the wide range of Vices services available at affordable prices to residents of Santa Fe, New Mexico and other key cities in the United States of America where we have the intends to install our vending machines.

  • Our corporate structure

Our intention to start an ATM services business is to build a standard business where ATMs are strategically positioned in key cities in Santa Fe, New Mexico and of course other key cities around the world. United States.

We will make sure to create the right structures that will support the growth we have in mind when starting a business. By building a good business structure, we will ensure that we only hire people who are qualified, honest, customer-focused and willing to work to help us build a successful business.

In fact, the profit sharing arrangement will be available to all of our senior employees and will be based on their performance for three years or more. In this regard, we have decided to hire qualified and competent hands to fill the following positions:

  • General Manager (owner)
  • ATM attendant / manager

Administrator and HR manager

Head of sales and marketing

Information Technologist

  • Customer Service Manager

Roles and responsibilities

Managing Director Managing Director:

  • Improves management effectiveness by recruiting, selecting, orienting, training, instructing and consulting managers; transfer values, strategies and goals; distribution of responsibilities; plan, monitor, evaluate performance and develop incentives
  • Creates, communicates and implements the vision, mission and general direction of the organization, that is, leads the development and implementation of the overall strategy of the organization.
  • Responsible for setting prices and signing commercial transactions
  • Responsible for business management
  • Responsible for signing checks and documents on behalf of the company
  • Measures the success of the organization
  • Responsible for the supervision of the staff and administrative tasks of the organization
  • Identifies the jobs to be recruited and manages the interview process
  • Carry out the inductions of new team members
  • Responsible for training, evaluation and evaluation of employees
  • Responsible for organizing trips, meetings and appointments
  • Monitors the proper functioning of the office.

ATM holder / manager:

  • Ensures correct accounting of transactions and that there is no cash on our ATMs.
  • Ensures all of our ATMs are in top condition and operating efficiently at all times
  • Interfaces with third party providers (vendors) and our banks
  • Controls the distribution of funds and inventory to all locations of our ATMs
  • Simulates demographic information and analyzes volumes of transactional data generated by customers
  • Identifies, prioritizes and contacts new partners, offers business opportunities and more.
  • Represent the company at strategic meetings
  • Helps increase sales and business growth
  • Manages and monitors the organization’s ATM network and website
  • Responsible for installing and maintaining the organization’s ATMs, software and hardware
  • Manages the organization’s video surveillance system
  • Performs all other technological and IT responsibilities.
  • Responsible for the preparation of the financial statements, budgets and financial statements of the organization
  • Provides management with financial analyzes, development budgets and accounting reports
  • Responsible for financial forecasts and risk analysis.
  • Perform cash management, accounting and financial reporting
  • Responsible for the development and management of financial systems and policies
  • Payroll manager
  • Ensures compliance with tax laws
  • Manages all financial transactions for the organization
  • Serves as internal auditor for the organization

Customer service manager

  • Ensures that all customer contacts (email, built-in hub, SMS or phone) provide the customer with a personalized customer service experience of the highest level
  • By interacting with customers over the phone, he takes every opportunity to increase customer interest in the company’s products and services.
  • Perform administrative tasks assigned by the manager in an efficient and timely manner

SWOT analysis of the ATM business plan

Our intention to launch our ATM A ne (ATM) company with a dozen machines strategically deployed around Santa Fe, New Mexico, should test over 3-6 months to see if we can invest more money, grow business, then install more machines.

We know that there are multiple ATMs in Santa Fe, New Mexico, and even in the same locations where we’ll be setting up ours, so we go through the proper business start-up process. We know that if our business has an appropriate SWOT – by analyzing, we will be able to position our business to maximize our strength, take advantage of the opportunities we have, reduce our risks and be prepared to face our threats.

Fin Tech® ATM Services, Inc. enlisted the services of an experienced Human Resources and Business Analyst with a bias in the retail industry to help us conduct a thorough SWOT analysis and help us create a business model that will help us be successful in our business. targets and objectives. This is a summary of the SWOT analysis that was performed for Fin Tech® ATM Services, Inc .;

The strategic locations in which we intend to establish our ATMs, the business model on which we will operate, the wide range of features of our ATMs, the knowledgeable members of our team and our excellent service culture at customers will certainly be considered as the strengths of Fin Tech® ATM Services, Inc.…

The main drawback that we can count on is the fact that we are a new automated teller machine (ATM) company and do not have the financial capacity to compete with the old independent ATM companies in terms of distribution.

The fact that we are about to install our vending machines in some of the busiest streets in Santa Fe – New Mexico gives us limitless possibilities to reach large numbers of people who can use our vending machines.

We have been able to conduct an in-depth feasibility study and market research and we know what our potential customers will be looking for when they visit our ATMs; we are well positioned to take advantage of the opportunities that present themselves to us.

Like any other business, one of the biggest threats we are likely to face is the economic downturn. It is a fact that the economic recession affects purchasing power, which will ultimately affect ATM transactions. Other threats we may face are the arrival of a new ATM in the same location as ours, as well as downtime due to technical issues from our technical partners.

ATM MARKET ANALYSIS

  • Market trends

The recent trend in this direction shows that the price of ATM network services for the three years up to 2021 has been estimated at an annualized rate of 1.0%. The increased demand for services and the lack of competition have contributed to this increase in the prices of services.

However, lower entry costs for some providers are slowing the growth of service prices. Meanwhile, price volatility has been low lately. External factors such as demand from commercial banks and consumer spending will affect the performance of the industry.

Today, ATM companies often use technology to effectively predict trends in consumer demand and strategically position their ATMs to meet their needs; in fact, the use of technology helps ATM companies to maximize supply chain efficiency. There is no doubt that the data collected from customers will go a long way in helping ATM companies to serve their customers better.

  • Our target market

The ATM industry has perhaps the largest customer base; everyone with a bank account has one or more things they will need at an ATM. It is difficult to find people who have bank accounts and ATM cards that do not use ATMs.

  • Our competitive advantage

The competition that exists in the ATM industry is fierce because anyone can start a business, even if it can be financial. An ATM business requires experience and any serious entrepreneur can benefit.

One thing is certain, we will continuously provide a wide range of services available at our ATMs. It will be difficult for customers to visit our ATMs and not see the product they are looking for. One of our business goals is to make Fin Tech® ATM Services, Inc. Universal ATM.

We can pride ourselves on our ability to quickly introduce new technologies, effective cost control and proximity to key markets. In addition, our excellent culture of customer service, our highly competitive service, our reliable and easy-to-use ATMs, as well as the visibility of our ATMs and knowledgeable members of our team will give us a competitive advantage.

ATM SALES AND MARKETING STRATEGY

  • Source of income

Fin Tech® ATM Services, Inc. established with the goal of maximizing the profitability of the ATM business, and we will do our best to do our best to market our services to a wide range of customers.

Fin Tech® ATM Services, Inc. will generate revenue by offering the following services through our ATMs:

  • Withdraw money, deposit funds, transfer funds or get account information
  • Payment of regular bills, fees and taxes (utilities, telephone bills, social security, legal services, income tax, etc.))
  • Updating bank books
  • Payment (in whole or in part) of the balance of the card associated with a specific current account.
  • Money transfer between linked accounts (for example, transfer between accounts)

Sales forecasts

One thing can be said regarding the automated teller machine (ATM) industry: if your machines can provide a wide range of services and are centrally located, you will still attract business customers and this will definitely lead to more revenue for the business. business.

We are well positioned to capture the affordable Santa Fe, New Mexico market and are very optimistic that we will achieve our goal of generating sufficient income / profit in the first six months and growing our business and our customers.

We were able to critically examine the cash machine industry, we analyzed our chances in this industry, and were able to formulate the following sales forecasts. Sales forecasts are based on information gathered in the field and certain assumptions specific to startups in Santa Fe, New Mexico.

Following are Fin Tech® ATM Services, Inc. sales projections based on our business location and other factors related to the launch of ATM services in the United States;

  • First year:   $ 240,000.
  • Second year:   $ 550,000
  • Third year:   $ 950,000

NB   . This forecast was made based on what is available in the industry and assuming that there will not be a major economic downturn and / or major competitors rolling out their ATMs in the same locations as ours. Please note that the above predictions may be lower and at the same time higher.

  • Marketing strategy and sales strategy

Before deciding where to install our ATMs, we conducted extensive market research and feasibility studies so that we could penetrate the available market and become the preferred choice for residents of Santa Fe, New Mexico.

We have hired experts who know the industry well to help us develop marketing strategies that will help us achieve our business goal of capturing a greater percentage of the available market in Santa Fe, New Mexico and any other city. in which we intend to establish our ATMs.

  • Give our ATMs a unique look by painting them in bright colors or putting up a large neon sign to make them easily recognizable by customers.
  • Builds our company’s main website to provide an online presence (indicate the location of our ATMs).
  • Joins an independent local ATM. associations and advice on industry trends

ATM business plan advertising and advertising strategy

While our ATMs are well located, we will continue to increase our advertising for the business. We will explore all the means available to promote our ATM business.

Fin Tech® ATM Services, Inc. has a long term plan to install our ATMs in various locations in major cities across the United States of America, so we will be deliberately developing our brand to be well received in Santa Fe, New Mexico before going out.

Here are the platforms we intend to use to promote and advertise Fin Tech® ATM Services, Inc .;

  • sponsor relevant community programs
  • distribute our brochures and flyers in targeted areas
  • place our Flexi banners in strategic positions where our ATMs are located.

Our pricing strategy

We will ensure that the pricing model established by the regulator in the United States of America is consistent.

  • payment methods

Due to the nature of ATMs, there are no options to pay for services other than inserting your bank card into the ATM, after which the ATM will dispense money or provide the information or the services you requested. We will earn money from the fees of each transaction.

  • Start-up costs (budget)

When it comes to starting a professional ATM, the main areas where you would spend most of your money are buying ATMs, loading ATMs with cash, and of course renting or rental of a warehouse.

In addition, you don’t have to spend a lot, except for the salaries of your employees and the purchase of minibuses. These are the key areas where we will be spending our start-up capital;

  • The total fee for business registration in the United States of America is   $ 750.
  • Legal fees for obtaining licenses and permits, and accounting services (software, POS and other software)   USD 1,300.
  • Marketing advertising costs for printing flyers (2,000 flyers priced at $ 0.04). per copy) totaling   $   3,580  .
  • The cost of hiring a business consultant is   $ 2,500.
  • Insurance coverage (general liability, industrial accidents and loss of property) for a total premium of   $ 2,400.
  • Payment of the 12-month lease cost $ 1.76 per square foot for a total of   $   105,600  .
  • Warehouse reconstruction costs (building racks and shelves)   USD 20,000.
  • Other start-up expenses, including office supplies (   $ 500   ) and telephone and utility bills (   $ 2,500   ).
  • Running costs for the first 3 months (employee salaries, bill payment, etc.)   $ 60,000
  • Cost of purchasing ATMs   25,000 USD
  • Purchase price of 2 fairly used vans –   20,000 USD
  • Cost of purchasing and installing surveillance:   $ 10,000
  • The cost of buying furniture. and office gadgets (computers, printers, telephones, televisions, audio systems, tables and chairs, etc.):   $ 50,000.
  • Website launch cost:   $ 600
  • Miscellaneous:   $ 10,000

We will need an estimate of $ 500,000 ($ 500,000) excluding working capital to successfully open our ATM business in Santa Fe, NM Our working capital target is   $  500,000   (   $  500,000   ) and this is what we plan to load in our various ATMs.

Creation of start-up capital for ATM services Fin Tech®, Inc.

Fin Tech® ATM Services, Inc. is a registered family business owned and funded by Lawrence Mullen and members of his immediate family. They do not intend to host outside business partners, so he decided to limit the use of start-up capital to three main sources.

  • Obtain part of the start-up capital from personal savings
  • Source of concessional loans from family and friends
  • Apply for a bank loan

NB:    We managed to get about   $ 200 000   (   personal savings   $ 150,000   and loan conditions   for   members of the family   $ 50,000   ). And we are in the final stages of getting a   loan   of $   800,000  from our bank. All documents and documents have been signed and submitted, the loan has been approved and at any time the amount will be credited to our account.

Sustainable development strategy and extension of the ATM business plan

It is generally accepted that the future of a business lies in the number of loyal customers it has, the potential and competence of its employees, its investment strategy and its business structure. If all of these factors are missing from the business, the business will close the store shortly thereafter.

One of our most important goals for launching Fin Tech® ATM Services, Inc. is to build a business that will survive on its own cash flow without having to inject funds from external sources upon the official launch of the business. ‘business. We know that one way to get approval and gain customers is to offer our services (service fees) a little cheaper than what is available in the market, and we are prepared to survive on margins. lower for a while.

Fin Tech® ATM Services, Inc. will ensure that the right foundations, structures and processes are in place to ensure that our people are treated well. Our corporate culture aims to take our business to the next level, and the training and retraining of our workforce is at the top.

In fact, the profit-sharing agreement will be available to our entire management team. staff and it will depend on their work for three years or more. they will be more committed to helping us build our dream business.

Checklist / checklist

  • Company name availability check:   complete
  • Company registration:   complete
  • Opening of corporate bank accounts:   complete
  • ATM security:   ongoing
  • Opening of Mobile Cash accounts:   complete
  • Launch of online payment platforms:   complete
  • Taxpayer request and receipt number:   in progress
  • Business license and permit application:   Completed
  • Purchasing business insurance:   complete
  • Rental of premises for warehouse and reconstruction:   In progress
  • Feasibility studies:   Completed
  • Creation of family members’ capital:   completed
  • Bank loan applications:   in progress   i>
  • Business plan writing:   finished
  • Compilation of employee handbook:   complete
  • Drafting of contractual documents and other relevant legal documents:   in development
  • Creation of the company logo:   finished
  • Impression de matériel publicitaire: en  cours
  • Recruitment:   in progress
  • Purchase of necessary furniture, shelves, shelves, computers, electronic equipment, office equipment and CCTV system:   In progress
  • Creation of an official website for the company:   In progress
  • Creating information for online and community businesses:   ongoing
  • Health and safety and fire safety conditions (license):   protected
  • Establishment of business relationships with banks and suppliers – suppliers of all necessary products and ATMs:   ongoing

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Anna Cornet - Author

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How to Develop a Marketing Plan for an ATM Business

If you’re looking to start an ATM business , one of the most important things you’ll need to do is create a marketing plan. Without a plan, it will be difficult to reach your target market and achieve success. In this article, we’ll provide tips for creating a marketing plan that will help your ATM business succeed.

As the owner of an ATM business, you know that having a good marketing plan is essential to your success. After all, without customers, your business will not survive.

But what goes into a good marketing plan? Below, we will go over some of the key components of a successful marketing plan for an ATM business.

Download the Ultimate Marketing Plan Template

Key Components of an ATM Business Marketing Plan

A great marketing plan has eleven sections as follows:

Executive Summary

Target market segments.

  • Unique Selling Proposition (USP)

Pricing and Positioning Strategy

Distribution strategy, marketing materials, promotions strategy, digital marketing plan, conversion, referral, and retention strategy, financial projections.

We provide more detail for each of these key components below.

The executive summary is a brief overview of your entire marketing plan. It should include your overview information from each of the other sections, such as your target market, unique selling proposition, key promotions strategies, and financial projections.

When it comes to marketing an ATM business , it is important to identify your target market segments. Who are your most likely customers? Consider factors such as age, gender, income, location, and lifestyle when determining your target market segments.

ATM customers are two-fold. You need to work with business owners who will allow you to place the ATM machines in their establishments. Then, there are the customers who will withdraw funds from the machines.

For example, an ATM business’ customers may include individuals who are looking for a convenient way to withdraw cash, those who don’t have a bank account, or those who live in rural areas where banks are not easily accessible.

Break down each of these segments even further by considering their needs, wants, and pain points. For example, the needs of an ATM business’ customers may include wanting to avoid bank fees, needing cash for an emergency, or wanting to withdraw cash without having to go through the hassle of going to a bank.

By understanding your target market segments, you will be better equipped to create marketing messages that resonate with them.

Unique Selling Proposition

Your unique selling proposition (USP) is what sets your ATM company apart from other ATM businesses. What do you offer that nobody else does?

For example, your ATM business may be the only company in your area that offers 24-hour access to cash, or you may have the lowest transaction fees in the market.

No matter what your USP is, make sure it is clear in your marketing materials. Your clients/customers should be able to see immediately what makes you different from the other business in their area.

Your pricing and positioning strategy will be determined by your target market segments and your unique selling proposition.

For example, if your target market is businesses, you will want to offer competitive fees that will attract more customers to their locations. If your target market is individuals, you may want to position yourself as the most convenient option..

No matter what your positioning strategy is, make sure your pricing strategy is competitive. Consider conducting a market analysis to see what other ATM businesses, with which you compete, are charging for similar offerings.

Your distribution strategy will determine how you get your ATM machines into the hands of potential customers.

There are a few options when it comes to distributing your ATM machines. You can buy, lease, or rent machines. You can also place them in strategic locations, such as high-traffic areas near banks or businesses.

Another option is to partner with other businesses, such as banks or gas stations. This option can be beneficial because it will give you access to their customer base and save on marketing costs.

Your distribution strategy documents how customers will buy from you. For example, will they buy directly from you in-person? Will they buy online? Will they purchase from your partners, distributors, etc. 

Providing offers through your business is a great way to entice clients to install your machines in their businesses. Consider offering discounts on installation or monthly fees. You could also offer a percentage of the profits to businesses for allowing you to place an ATM machine in their establishment.

Remember, your offers should be targeted to your audience. For example, if you are targeting small businesses, you may want to offer a lower monthly fee. If you are targeting large businesses, you could offer a percentage of the profits.

Your marketing materials should be based on your unique selling proposition and target market segments. They should be designed to grab attention and generate interest in your business.

Some of the marketing materials you might want to create include product brochures, flyers, and website banners. You will also want to make sure your branding is strong and consistent across all of your marketing materials.

Your promotions strategy includes the methods you will use to attract new customers. It should be designed to generate excitement and encourage customers to try your business. 

ATM businesses should consider the following promotional strategies: 

– Sponsoring local events

– Offering discounts

– Hosting open houses

– Distributing marketing materials in high-traffic areas

– Creating social media accounts

Your promotional strategy should be designed to reach your target market. For example, if you are targeting businesses, you may want to sponsor a business fair. If you are targeting individuals, you may want to offer discounts on your website.

In today’s digital age, it’s important to have a solid digital marketing plan. This will help you reach a wider audience and drive more traffic to your business.

Some of the digital marketing tactics you might want to use include search engine optimization (SEO), pay-per-click advertising, social media marketing, and email marketing. You will also want to make sure your website is mobile-friendly and easy to navigate.

Another digital marketing strategy is to create informative blog posts and how-to articles. This content can help you attract new customers and build trust with your target audience.

Your conversion, referral, and retention strategy should be designed to keep customers coming back. Consider offering loyalty rewards, discounts for referrals, and other incentives to encourage customers to continue using your business.

You will also want to make sure your customer service is top-notch. Respond quickly to any complaints or concerns, and always go above and beyond to exceed customer expectations.

Last but not least, you will need to create financial projections for your business. This will help you track your progress and ensure you are on track to meet your goals.

The key information to include in these financial projections are your monthly marketing expenditures and expected sales. Be sure to update your projections on a regular basis to reflect any changes in your business.

Starting an ATM marketing business can be a profitable venture. To write an effective ATM marketing plan, you will need to consider your target market, promotional strategies, digital marketing tactics, financial projections, and customer service strategy. 

By following these steps, you can develop a quality marketing plan that will help you successfully launch and grow your ATM business. Just remember to be creative, think outside the box, and always put your customers first. With a little hard work and dedication, you will be well on your way to success!

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10 Free Business Plan Templates in Word, Excel, & ClickUp

Praburam Srinivasan

Growth Marketing Manager

February 13, 2024

Turning your vision into a clear and coherent business plan can be confusing and tough. 

Hours of brainstorming and facing an intimidating blank page can raise more questions than answers. Are you covering everything? What should go where? How do you keep each section thorough but brief?

If these questions have kept you up at night and slowed your progress, know you’re not alone. That’s why we’ve put together the top 10 business plan templates in Word, Excel, and ClickUp—to provide answers, clarity, and a structured framework to work with. This way, you’re sure to capture all the relevant information without wasting time. 

And the best part? Business planning becomes a little less “ugh!” and a lot more “aha!” 🤩

What is a Business Plan Template?

What makes a good business plan template, 1. clickup business plan template, 2. clickup sales plan template, 3. clickup business development action plan template, 4. clickup business roadmap template, 5. clickup business continuity plan template, 6. clickup lean business plan template, 7. clickup small business action plan template, 8. clickup strategic business roadmap template , 9. microsoft word business plan template by microsoft, 10. excel business plan template by vertex42.

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A business plan template is a structured framework for entrepreneurs and business executives who want to create business plans. It comes with pre-arranged sections and headings that cover key elements like the executive summary , business overview, target customers, unique value proposition, marketing plans, and financial statements.  

A good business plan template helps with thorough planning, clear documentation, and practical implementation. Here’s what to look for:

  • Comprehensive structure: A good template comes with all the relevant sections to outline a business strategy, such as executive summary, market research and analysis, and financial projections 
  • Clarity and guidance: A good template is easy to follow. It has brief instructions or prompts for each section, guiding you to think deeply about your business and ensuring you don’t skip important details
  • Clean design: Aesthetics matter. Choose a template that’s not just functional but also professionally designed. This ensures your plan is presentable to stakeholders, partners, and potential investors
  • Flexibility : Your template should easily accommodate changes without hassle, like adding or removing sections, changing content and style, and rearranging parts 🛠️ 

While a template provides the structure, it’s the information you feed it that brings it to life. These pointers will help you pick a template that aligns with your business needs and clearly showcases your vision.

10 Business Plan Templates to Use in 2024

Preparing for business success in 2024 (and beyond) requires a comprehensive and organized business plan. We’ve handpicked the best templates to help you guide your team, attract investors, and secure funding. Let’s check them out.

ClickUp Business Plan Template

If you’re looking to replace a traditional business plan document, then ClickUp’s Business Plan Template is for you!

This one-page business plan template, designed in ClickUp Docs , is neatly broken down into the following sections:

  • Company description : Overview, mission, vision, and team
  • Market analysis : Problem, solution, target market, competition, and competitive advantage
  • Sales and marketing strategy : Products/services and marketing channels
  • Operational plan : Location and facilities, equipment and tools, manpower, and financial forecasts
  • Milestones and metrics: Targets and KPIs

Customize the template with your company logo and contact details, and easily navigate to different sections using the collapsible table of contents. The mini prompts under each section guide you on what to include—with suggestions on how to present the data (e.g., bullet lists, pictures, charts, and tables). 

You can share the document with anyone via URL and collaborate in real time. And when the business plan is ready, you have the option to print it or export it to PDF, HTML, or Markdown.

But that’s not all. This template is equipped with basic and enterprise project management features to streamline the business plan creation process . The Topics List view has a list of all the different sections and subsections of the template and allows you to assign it to a team member, set a due date, and attach relevant documents and references.

Switch from List to Board view to track and update task statuses according to the following: To Do, In Progress, Needs Revision, and Complete. 

This template is a comprehensive toolkit for documenting the different sections of your business plan and streamlining the creation process to ensure it’s completed on time. 🗓️

ClickUp Sales Plan Template

If you’re looking for a tool to kickstart or update your sales plan, ClickUp’s Sales Plan Template has got you covered. This sales plan template features a project summary list with tasks to help you craft a comprehensive and effective sales strategy. Some of these tasks include:

  • Determine sales objectives and goals
  • Draft positioning statement
  • Perform competitive analysis
  • Draft ideal customer persona
  • Create a lead generation strategy

Assign each task to a specific individual or team, set priority levels , and add due dates. Specify what section of the sales plan each task belongs to (e.g., executive summary, revenue goals, team structure, etc.), deliverable type (such as document, task, or meeting), and approval state (like pending, needs revisions, and approved).

And in ClickUp style, you can switch to multiple views: List for a list of all tasks, Board for visual task management, Timeline for an overview of task durations, and Gantt to get a view of task dependencies. 

This simple business plan template is perfect for any type of business looking to create a winning sales strategy while clarifying team roles and keeping tasks organized. ✨

ClickUp Business Development Action Plan Template

Thinking about scaling your business’s reach and operations but unsure where or how to start? It can be overwhelming, no doubt—you need a clear vision, measurable goals, and an actionable plan that every member of your team can rally behind. 

Thankfully, ClickUp’s Business Development Action Plan Template is designed to use automations to simplify this process so every step toward your business growth is clear, trackable, and actionable.

Start by assessing your current situation and deciding on your main growth goal. Are you aiming to increase revenue, tap into new markets, or introduce new products or services? With ClickUp Whiteboards or Docs, brainstorm and collaborate with your team on this decision.

Set and track your short- and long-term growth goals with ClickUp’s Goals , break them down into smaller targets, and assign these targets to team members, complete with due dates. Add these targets to a new ClickUp Dashboard to track real-time progress and celebrate small wins. 🎉

Whether you’re a startup or small business owner looking to hit your next major milestone or an established business exploring new avenues, this template keeps your team aligned, engaged, and informed every step of the way.

ClickUp Business Roadmap Template

ClickUp’s Business Roadmap Template is your go-to for mapping out major strategies and initiatives in areas like revenue growth, brand awareness, community engagement, and customer satisfaction. 

Use the List view to populate tasks under each initiative. With Custom Fields, you can capture which business category (e.g., Product, Operations, Sales & Marketing, etc.) tasks fall under and which quarter they’re slated for. You can also link to relevant documents and resources and evaluate tasks by effort and impact to ensure the most critical tasks get the attention they deserve. 👀

Depending on your focus, this template provides different views to show just what you need. For example, the All Initiatives per Quarter view lets you focus on what’s ahead by seeing tasks that need completion within a specific quarter. This ensures timely execution and helps in aligning resources effectively for the short term.

This template is ideal for business executives and management teams who need to coordinate multiple short- and long-term initiatives and business strategies.

ClickUp Business Continuity Plan Template

In business, unexpected threats to operations can arise at any moment. Whether it’s economic turbulence, a global health crisis, or supply chain interruptions, every company needs to be ready. ClickUp’s Business Continuity Plan Template lets you prepare proactively for these unforeseen challenges.

The template organizes tasks into three main categories:

  • Priorities: Tasks that need immediate attention
  • Continuity coverage: Tasks that must continue despite challenges
  • Guiding principles: Resources and protocols to ensure smooth operations

The Board view makes it easy to visualize all the tasks under each of these categories. And the Priorities List sorts tasks by those that are overdue, the upcoming ones, and then the ones due later.

In times of uncertainty, being prepared is your best strategy. This template helps your business not just survive but thrive in challenging situations, keeping your customers, employees, and investors satisfied. 🤝

ClickUp Lean Business Plan Template

Looking to execute your business plan the “lean” way? Use ClickUp’s Lean Business Plan Template . It’s designed to help you optimize resource usage and cut unnecessary steps—giving you better results with less effort.

In the Plan Summary List view, list all the tasks that need to get done. Add specific details like who’s doing each task, when it’s due, and which part of the Business Model Canvas (BMC) it falls under. The By Priority view sorts this list based on priorities like Urgent, High, Normal, and Low. This makes it easy to spot the most important tasks and tackle them first.

Additionally, the Board view gives you an overview of task progression from start to finish. And the BMC view rearranges these tasks based on the various BMC components. 

Each task can further be broken down into subtasks and multiple checklists to ensure all related action items are executed. ✔️

This template is an invaluable resource for startups and large enterprises looking to maximize process efficiencies and results in a streamlined and cost-effective way.

ClickUp Small Business Action Plan Template

The Small Business Action Plan Template by ClickUp is tailor-made for small businesses looking to transform their business ideas and goals into actionable steps and, eventually, into reality. 

It provides a simple and organized framework for creating, assigning, prioritizing, and tracking tasks. And in effect, it ensures that goals are not just set but achieved. Through the native dashboard and goal-setting features, you can monitor task progress and how they move you closer to achieving your goals.

Thanks to ClickUp’s robust communication features like chat, comments, and @mentions, it’s easy to get every team member on the same page and quickly address questions or concerns.

Use this action plan template to hit your business goals by streamlining your internal processes and aligning team efforts.

ClickUp Strategic Business Roadmap Template 

For larger businesses and scaling enterprises, getting different departments to work together toward a big goal can be challenging. The ClickUp Strategic Business Roadmap Template makes it easier by giving you a clear plan to follow.

This template is packaged in a folder and split into different lists for each department in your business, like Sales, Product, Marketing, and Enablement. This way, every team can focus on their tasks while collectively contributing to the bigger goal.

There are multiple viewing options available for team members. These include:

  • Progress Board: Visualize tasks that are on track, those at risk, and those behind
  • Gantt view: Get an overview of project timelines and dependencies
  • Team view: See what each team member is working on so you can balance workloads for maximum productivity

While this template may feel overwhelming at first, the getting started guide offers a step-by-step breakdown to help you navigate it with ease. And like all ClickUp templates, you can easily customize it to suit your business needs and preferences.

Microsoft Word Business Plan Template by Microsoft

Microsoft’s 20-page traditional business plan template simplifies the process of drafting comprehensive business plans. It’s made up of different sections, including:

  • Executive summary : Highlights, objectives, mission statement, and keys to success
  • Description of business: Company ownership and legal structure, hours of operation, products and services, suppliers, financial plans, etc.
  • Marketing: Market analysis, market segmentation, competition, and pricing
  • Appendix: Start-up expenses, cash flow statements, income statements, sales forecast, milestones, break-even analysis, etc.

The table of contents makes it easy to move to different sections of the document. And the text placeholders under each section provide clarity on the specific details required—making the process easier for users who may not be familiar with certain business terminology.

Excel Business Plan Template by Vertex42

No business template roundup is complete without an Excel template. This business plan template lets you work on your business financials in Excel. It comes with customizable tables, formulas, and charts to help you look at the following areas:

  • Highlight charts
  • Market analysis
  • Start-up assets and expenses
  • Sales forecasts
  • Profit and loss
  • Balance sheet
  • Cash flow projections
  • Break-even analysis

This Excel template is especially useful when you want to create a clear and visual financial section for your business plan document—an essential element for attracting investors and lenders. However, there might be a steep learning curve to using this template if you’re not familiar with business financial planning and using Excel.

Try a Free Business Plan Template in ClickUp

Launching and running a successful business requires a well-thought-out and carefully crafted business plan. However, the business planning process doesn’t have to be complicated, boring, or take up too much time. Use any of the above 10 free business plan formats to simplify and speed up the process.

ClickUp templates go beyond offering a solid foundation to build your business plans. They come with extensive project management features to turn your vision into reality. And that’s not all— ClickUp’s template library offers over 1,000 additional templates to help manage various aspects of your business, from decision-making to product development to resource management .

Sign up for ClickUp’s Free Forever Plan today to fast-track your business’s growth! 🏆

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IMAGES

  1. How to Start an ATM Business in 5 Steps

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  2. How to Write an ATM Business Plan

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  3. PPT

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  4. ATM Business Plan Sample Template for 2022 .pdf

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  5. The #1 Atm Business Plan Template & Guidebook

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  6. How to Complete Your ATM Business Basic Checklist

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COMMENTS

  1. ATM Business Plan Template [Updated 2024]

    Marketing Plan. Traditionally, a marketing plan includes the four P's: Product, Price, Place, and Promotion. For a ATM business plan, your marketing strategy should include the following: Product: In the product section, you should reiterate the type of ATM company that you documented in your company overview.

  2. ATM Business Plan Template (2023)

    An ATM business plan is a plan to start and/or grow your ATM business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections. You can easily complete your ATM business plan using our ATM Business Plan Template here.

  3. ATM Business Plan Template (2024)

    Writing an ATM business plan is a crucial step toward the success of your business. Here are the key steps to consider when writing a business plan: 1. Executive Summary. An executive summary is the first section of the business plan intended to provide an overview of the whole business plan. Generally, it is written after the entire business ...

  4. How To Write a Winning ATM Business Plan + Template

    This part of the business plan is where you determine and document your marketing plan. . Your plan should be clearly laid out, including the following 4 Ps. Product/Service: Detail your product/service offerings here. Document their features and benefits. Price: Document your pricing strategy here.

  5. How to Write an ATM Business Plan

    Additionally, having a written business plan can help secure loans (if you need them) and bank accounts. Really, your business plan is the first asset you build for your business. So, let's get started. The anatomy of an ATM business plan. An ATM business has all the same high level considerations of any other business. So, the contents of ...

  6. How to Write an ATM Company Business Plan + Sample Template

    A sample introduction can be like this: Cash 2 Go is an ATM business center located inside Pennsylvania Station, New York. The ATMs deployed will have cash withdrawal functions, balance checker options, bills payments services, and fund transfer services. The ATM center is accessible 24 hours a day and seven days a week.

  7. ATM Business Plan Template & Example [Updated 2024]

    ATM Business Plan Template. If you want to start a successful ATM business or expand your current ATM machine business, you need a business plan. Fortunately, you're in the right place. Our team has helped develop over 100,000 business plans over the past 20 years, including thousands of ATM business plans. ...

  8. The #1 Atm Business Plan Template & Guidebook

    How to Write a Atm Business Plan in 7 Steps: 1. Describe the Purpose of Your Atm Business. The first step to writing your business plan is to describe the purpose of your atm business. This includes describing why you are starting this type of business, and what problems it will solve for customers. This is a quick way to get your mind thinking ...

  9. How to Write ATM Business Plan? Guide & Template

    Operational Plan: Detail the operational aspects of your ATM business, including ATM placement strategies, cash management procedures, and customer support mechanisms.

  10. How to Start a Profitable Atm Business [11 Steps]

    8. Acquire atm equipment and supplies. Starting an ATM business requires careful selection of the right equipment and supplies to ensure reliable service and customer satisfaction. It's important to invest in quality machines and maintain a stock of necessary items for smooth operations.

  11. How to Start an ATM Business (Complete Guide for 2024)

    So, here's how to start an ATM business. Invest in a new or used ATM machine or consider leasing one. Find a high-traffic location where using cash is common. Hire a cash delivery service to handle reloading the machine. Ensure enough cash on hand to refill the machine monthly or as needed. Plan for more minor expenses such as receipt paper ...

  12. How to Start ATM Business With Business Plan in 2024

    To illustrate the composition of a business plan for ATM machines, we will use a sample ATM business plan for a fictional ATM business start-up called CashZone. CashZone is an independent ATM deployer (IAD) that operates and owns a network of ATMs in Florida. CashZone offers cash withdrawal, fund transfer, bill payment, and mobile top-up ...

  13. Writing an ATM Business Plan [Sample Template]

    A Sample ATM Business Plan Template. An automated teller machine (ATM) is an electronic telecommunications device that enables customers of financial institutions to perform financial transactions, such as cash withdrawals, deposits, transfer funds, or obtaining account information, at any time and without direct interaction with bank staff.

  14. ATM Business Plan [Sample Template]

    Below are the sales projections for Fin Tech® ATM Services, Inc., it is based on the location of our business and other factors as it relates to automated teller machine (ATM) services startups in the United States; First Year: $240,000. Second Year: $550,000. Third Year: $950,000.

  15. ATM Business Plan Template & Example [Updated 2024]

    ATM Business Plan Template [Updated 2024] Written by Dave Lavinsky January 5, 2024 / 5808 0 . ATM Business Plan Template [Updated 2024] Financial Services Business Plan Templates. IX. Financial Plan. This Section's Contents. Revenue and Cost Drivers; Capital Requirements and Use of Funds;

  16. How to Start an ATM Business

    Start an ATM Business by following these 10 steps: Plan your ATM Business. Form your ATM Business into a Legal Entity. Register your ATM Business for Taxes. Open a Business Bank Account & Credit Card. Set up Accounting for your ATM Business. Get the Necessary Permits & Licenses for your ATM Business.

  17. How To Start An ATM Business (2022 Playbook)

    In order to do this you're going to need several tools including a dolly, scissors, hammer drill, and respective drill bit for the floor type. Start by taking the ATM out of the packaging and placing it in the spot that you and the business owner have agreed upon. You're then going to want to drill four holes 2-3/4″ deep using a 1/2 ...

  18. Sample ATM Business Plan

    ATM BUSINESS PLAN SAMPLE. Your ATM business plan should contain certain key elements or sections, such as the executive summary and company description. Others include the products & services section, market analysis, strategy & implementation, organization & management team, and financial plan & projection sections.

  19. ⋆ ATM Business Plan ⋆ ️⋆ Qoodis.com

    Below is a sample ATM business plan template to help you successfully write your plan in record time. Sample ATM Business Plan Template. Overview of activities; Independent commercial ATM operators are not banks, but they set up their ATMs, fill them with cash, and every time they earn money, the customer withdraws money from their ATMs. automatic.

  20. PDF ATM BUSINESS STARTER KIT

    ATM BUSINESS STARTER KIT. What follows below are 10 simple steps to get started in the ATM business. Each step is condensed and explained in simple terms, many more secrets, money saving ideas, and profit generating ideas of the ATM business are available if you choose to partner up and do business with Convenience ATMs, Inc. 1.

  21. How to Create an Expert Business Model: A Detailed Guide + Templates

    Edit and Download. The bundling business model can be a great idea if offering multiple products or services for a lower price point will still be profitable for your business. Here's a template you can use to explain this model to stakeholders. Customize this template and make it your own! Edit and Download. 3.

  22. ATM Marketing: How To Write An ATM Marketing Plan

    To write an effective ATM marketing plan, you will need to consider your target market, promotional strategies, digital marketing tactics, financial projections, and customer service strategy. By following these steps, you can develop a quality marketing plan that will help you successfully launch and grow your ATM business.

  23. 10 Free Business Plan Templates in Word, Excel, & ClickUp

    In times of uncertainty, being prepared is your best strategy. This template helps your business not just survive but thrive in challenging situations, keeping your customers, employees, and investors satisfied. 🤝. Download This Template. 6. ClickUp Lean Business Plan Template. ClickUp Lean Business Plan Template.