atm business plan template

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.

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

How To Write a Winning ATM Business Plan + Template

Creating a business plan is essential for any business, but it can be especially helpful for ATM businesses that want to improve their strategy and/or raise funding.

A well-crafted business plan not only outlines the vision for your company, but also documents a step-by-step roadmap of how you are going to accomplish it. In order to create an effective business plan, you must first understand the components that are essential to its success.

This article provides an overview of the key elements that every ATM business owner should include in their business plan.

Download the Ultimate ATM Business Plan Template

What is an atm business plan.

An ATM business plan is a formal written document that describes your company’s business strategy and its feasibility. It documents the reasons you will be successful, your areas of competitive advantage, and it includes information about your team members. Your business plan is a key document that will convince investors and lenders (if needed) that you are positioned to become a successful venture.

Why Write an ATM Business Plan?

An ATM business plan is required for banks and investors. The document is a clear and concise guide of your business idea and the steps you will take to make it profitable.

Entrepreneurs can also use this as a roadmap when starting their new company or venture, especially if they are inexperienced in starting a business.

Writing an Effective ATM Business Plan

The following are the key components of a successful ATM business plan:

Executive Summary

The executive summary of an ATM business plan is a one- to two-page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan.

• Start with a one-line description of your ATM company.
• Provide a short summary of the key points in each section of your business plan, which includes information about your company’s management team, industry analysis, competitive analysis, and financial forecast among others.

Company Description

This section should include a brief history of your company. Include a short description of how your company started, and provide a timeline of milestones your company has achieved.

If you are just starting your ATM business, you may not have a long company history. Instead, you can include information about your professional experience in this industry and how and why you conceived your new venture. If you have worked for a similar company before or have been involved in an entrepreneurial venture before starting your ATM firm, mention this.

You will also include information about your chosen ATM business model and how, if applicable, it is different from other companies in your industry.

Industry Analysis

The industry or market analysis is an important component of an ATM business plan. Conduct thorough market research to determine industry trends and document the size of your market.

Questions to answer include:

• What part of the ATM industry are you targeting?
• How big is the market?
• What trends are happening in the industry right now and, if applicable, how do these trends support the success of your company)?

You should also include sources for the information you provide, such as published research reports and expert opinions.  

Customer Analysis

This section should include a list of your target audience(s) with demographic and psychographic profiles (e.g., age, gender, income level, profession, job titles, interests). You will need to provide a profile of each customer segment separately, including their needs and wants.

For example, an ATM business’ customers may include banks, retailers, or other businesses.

You can include information about how your customers make the decision to buy from you as well as what keeps them buying from you.

Develop a strategy for targeting those customers who are most likely to buy from you, as well as those who might be influenced to buy your products or ATM services with the right marketing.

Competitive Analysis

The competitive analysis helps you determine how your product or service will be different from competitors, and what your unique selling proposition (USP) might be that will set you apart in this industry.

For each competitor, list their strengths and weaknesses. Next, determine your areas of competitive differentiation and/or advantage; that is, in what ways are you different from and ideally better than your competitors.

Marketing Plan

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. In addition to stating the prices for your products/services, mention how your pricing compares to your competition.
• Place : Where will your customers find you? What channels of distribution (e.g., partnerships) will you use to reach them if applicable?
• Promotion : How will you reach your target customers? For example, you may use social media, write blog posts, create an email marketing campaign, use pay-per-click advertising, launch a direct mail campaign. Or you may promote your ATM business via a combination of these marketing channels.

Operations Plan

This part of your ATM business plan should include the following information:

• How will you deliver your product/service to customers? For example, will you do it in person or over the phone only?
• What infrastructure, equipment, and resources are needed to operate successfully? How can you meet those requirements within budget constraints?

The operations plan is where you also need to include your company’s business policies. You will want to establish policies related to everything from customer service to pricing, to the overall brand image you are trying to present.

Finally, and most importantly, in your Operations Plan, you will lay out the milestones your company hopes to achieve within the next five years. Create a chart that shows the key milestone(s) you hope to achieve each quarter for the next four quarters, and then each year for the following four years. Examples of milestones for an ATM business include reaching $X in sales. Other examples include adding new products/services, launching a new marketing campaign, or expanding to a new target market.

Management Team

List your team members here including their names and titles, as well as their expertise and experience relevant to your specific ATM industry. Include brief biography sketches for each team member.

Particularly if you are seeking funding, the goal of this section is to convince investors and lenders that your team has the expertise and experience to execute on your plan. If you are missing key team members, document the roles and responsibilities you plan to hire for in the future.

Financial Plan

Here you will include a summary of your complete and detailed financial plan (your full financial projections go in the Appendix).

This includes the following three financial statements:

Income Statement

Your income statement should include:

• Revenue : how much revenue you generate.
• Cost of Goods Sold : These are your direct costs associated with generating revenue. This includes labor costs, as well as the cost of any equipment and supplies used to deliver the product/service offering.
• Net Income (or loss) : Once expenses and revenue are totaled and deducted from each other, this is the net income or loss

Sample Income Statement for a Startup ATM Business

Balance Sheet

Include a balance sheet that shows your assets, liabilities, and equity. Your balance sheet should include:

• Assets : All of the things you own (including cash).
• Liabilities : This is what you owe against your company’s assets, such as accounts payable or loans.
• Equity : The worth of your business after all liabilities and assets are totaled and deducted from each other.

Sample Balance Sheet for a Startup ATM Business

Cash Flow Statement

Include a cash flow statement showing how much cash comes in, how much cash goes out and a net cash flow for each year. The cash flow statement should include:

• Cash Flow From Operations
• Cash Flow From Investments
• Cash Flow From Financing

Below is a sample of a projected cash flow statement for a startup ATM business.

Sample Cash Flow Statement for a Startup ATM Business

You will also want to include an appendix section which will include:

• Your complete financial projections.
• A complete list of your company’s business policies and procedures related to the rest of the business plan (marketing, operations, etc.).
• Any other documentation which supports what you included in the body of your business plan.

Writing a good business plan gives you the advantage of being fully prepared to launch and/or grow your ATM company. It not only outlines your business vision but also provides a step-by-step process of how you are going to accomplish it.

Now that you know what to include in your ATM business plan, it’s time to get started. Our free ATM business plan template helps you organize your thoughts and ensure that you haven’t left anything out.

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Other Helpful Articles

Developing Your ATM Business Contract Plus Template

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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ATM Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business ideas » Financial Service Industry » ATM

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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• Sample Business Plans

Atm Business Plan

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.

Free Business Plan Template

Download our free atm 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: Start your executive summary by introducing your idea behind starting an ATM business and explaining what it does. Give a brief overview of how your ATM business will be different.
• Market opportunity: Describe the target market in brief, and explain the demographics, geographic location, and psychographic attributes of your customer. Explain how your ATM business meets its needs. Clearly describe the market that your business will serve.
• Mention your services: Briefly describe what services a customer can expect from your ATM business, including details about ATM machines, type, quantity, and management. Mention how the services offered will be of value to customers.
• Marketing strategy: Offer a brief outline of the marketing strategies you plan on implementing to promote your services, including advertising, public relations, promotions, etc. Define your target market and how you will execute the marketing.
• Financial highlights: Provide a summary of your financial projections for the company’s initial years of operation. Include any capital or investment requirements, startup costs, projected revenues, and profits.
• Call to action: After briefly explaining your business plan, end your summary with a call to action, inviting potential investors or readers to the next meeting if they are interested in your business.

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:

• 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.
• Ownership: Describe the owners of your business and mention their roles in running it. Who owns what shares in the corporation, and how each owner helps in the business?
• Mission statement: Add a mission statement that sums up your business’s objectives and core principles. This statement needs to be memorable, clear, and brief.
• Business history: Include an outline of your business’s history and how it came to be in its current position. If you can, add some personality and intriguing details, especially if you got any achievements or recognitions till now for your incredible services.
• Future goals: It’s crucial to convey your aspirations and your vision. Include the vision of where you see your business in the near future and if you plan to expand your business to different locations in the city or state.

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: Identify your target market and define your ideal customer. Know more about your perfect customer and what services they prefer: for instance, convenience store customers, students, and low-income individuals are the perfect target market for retail ATM businesses.
• Market size and growth potential: Provide an overview of the industry. It will include market size, trends, growth potential, and regulatory considerations.
• Competitive analysis: Identify and analyze all other ATM businesses in the local market, including direct and indirect competitors. Evaluate their strengths and weaknesses, and explain how your business can offer qualitative services.
• Market trends: Analyze current and emerging trends in your industry, such as technological changes or customer preferences. Explain how your business will cope with all the trends. For example, people are shifting towards cashless transactions, so explain how you plan on dealing with it.
• Regulatory environment: Describe any regulations or licensing requirements that affect ATMs, such as business registration, license, insurance, compliance with federal laws, compliance with state and local laws, etc.

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: Describe the ATMs used in your business operations, such as indoor, outdoor, lobby, drive-up machines, etc. Include detailed information about the machines, including their features and capabilities.
• ATM Services: Describe various ATM services you offer, including cash withdrawal, balance inquiries, cash transfers, etc.
• Fees & Charges: Explain the fees and charges associated with each ATM service you offer, such as transaction fees, maintenance fees, etc.
• Value-Added Services: Describe if you offer any value-added services with your business offerings, such as gift cards, lottery tickers, etc.
• Emphasize Security: Explain the safety and security measures your business will implement to protect ATMs and consumers’ financial transactions. Mention authentication, encryption, and all other security protocols your company plans to implement.

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): This includes specific features or benefits that set your business apart from your competitors, such as 24X7 availability, machines with advanced tech and UI, multi-language functionality, etc.
• Determine your pricing strategy: Describe the pricing strategy for your ATM business, including surcharge fee, transaction fee, or any other fees that will generate revenue for your business. Make sure to compare your pricing strategy with your local competition.
• Marketing strategies: Develop a marketing strategy that includes a mix of online and offline marketing tactics. Consider social media, local advertising, brochures, print marketing, and partnering with other businesses. State your budget for such marketing activities and explain how you plan on measuring results.
• Sales strategies: Mention your sales strategy as in – partner with other businesses and healthcare providers to establish referral programs that can help you generate more business. Consider offering incentives for referrals or special discounts for partnerships.
• Customer retention: Describe how your business will build loyalty by offering additional services, competitive transaction fees, and partnering with local businesses.

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: Tell the staffing requirements of your ATM business, including the number of employees needed, their qualifications, and the duties they will perform. Also, mention the perks you will provide to your employees.
• Operational process: Outline the processes and procedures you will use to run your business operations. It includes ATM deployment, customer service, cash management, compliance, and more.
• Technologies: Describe the technology your business will use in its daily operations, including ATM hardware, software, banking systems, payment gateway, security system, and more. Mention how you will ensure your technology is up-to-date, reliable, and secure.

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:   List the founders and co-founders, and describe their key roles and responsibilities in successfully running the business.
• Key managers: Describe the key members of your management team, their roles, and their responsibilities. It should include the owners, senior management, other department managers, and people who will be involved in the business operations, including their education, professional background, and any relevant experience in the industry.
• Organizational structure: Describe the organizational structure of the management team, including reporting lines and how decisions will be made.
• Compensation plan: Describe your compensation plan for the management team and staff, including salaries, bonuses, and other benefits.
• Board of advisors: If you have a board of advisors for your business, then mention them along with their roles and experience.

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: Create a projected profit & loss statement that describes the expected revenue, cost of products sold, and operational costs. Your business’s anticipated net profit or loss should be computed and included.
• Cash flow statement: Estimate your cash inflows and outflows for the first few years of operation. It should include cash receipts from clients, vendor payments, loan payments, and any other cash inflows and outflows.
• Balance sheet: Prepare a projected balance sheet, which shows the business’s assets, liabilities, and equity.
• Break-even point: Determine the point at which your ATM business will break even or generate enough revenue to cover its operating costs. This will help you understand how much revenue you need to generate to make a profit.
• Financing needs: Estimate how much financing you will need to start and operate your ATM business. It should include a detailed breakdown of your startup costs, short-term and long-term financing needs, such as loans or investment capital.

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

Fill-in-the-blanks and automatic financials make it easy.

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

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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ATM Business Plan Template [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.

The following ATM business plan template and example gives you the key elements you must include in your plan. In our experience speaking with lenders and investors, the template is organized in the precise format they want.

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

Example Business Plan For ATM Businesses

Below are links to each of the key sections of a sample business plan for a successful ATM business.

I. Executive Summary – The Executive Summary provides an overview of your business opportunity, key objectives, business goals and unique value proposition. It also summarizes all other section of the business plan.

II. Company Overview – The company analysis includes information about your business concept, business model, ATM locations and services and legal structure.

III. Industry Analysis – The industry analysis includes market research that supports your business and provides insights into market trends and the ATM industry, including key players, trends, and target market size.

IV. Customer Analysis – The market analysis provides an overview of your target market and customer segments.

You can download our business plan template (including a full, customizable financial model) to your computer here.

V. Competitive Analysis – The competitive analysis should identify your direct and indirect competitors and highlight your competitive advantage.

VI. Marketing Plan – The marketing plan includes your marketing strategy, pricing strategy and search engine optimization plan.

VII. Operations Plan – The Operations Plan includes information on your company’s day to day ATM operations and processes.

VIII. Management Team – The management team section includes a profile of the business owner, key personnel and business management, their experience and company responsibilities.

IX. Financial Plan – The financial plan includes financial projections, a cash flow statement, profit and loss statement and balance sheet. It should also include an overview of your operational costs and startup expenses.

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

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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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: 8

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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.

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.

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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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.

Let us dive in!

Step-by-Step Instructions 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

Step 4: purchase equipment, 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

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

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.

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.

Cost of ATM Machine

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

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.

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

Business Structure

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

Licenses and Permits

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.

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.

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.

Ongoing smaller expenses

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

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?

“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.

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

Are ATMs a dying business?

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

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.

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.

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

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 .

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.

The following are the best places for putting your ATM:

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.

Free Standing ATMs

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

Through-the-wall ATMs

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

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?

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?”

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.

Finally, register the business name.

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

Not doing your research.

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

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

Not having enough capital.

Having enough capital is essential when starting an ATM business.

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.

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.

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

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Atm Business Plan Template & Guidebook

How to write a atm business plan in 7 steps:, 1. describe the purpose of your atm business..

It also helps to include a vision statement so that readers can understand what type of company you want to build.

2. Products & Services Offered by Your Atm Business.

When you think about the products and services that you offer, it's helpful to ask yourself the following questions:

3. Build a Creative Marketing Stratgey.

If you don't have a marketing plan for your atm business, it's time to write one. Your marketing plan should be part of your business plan and be a roadmap to your goals. 

Target market

Customer base , product or service description, competitive analysis, marketing channels, form an llc in your state, 4. write your operational plan., what equipment, supplies, or permits are needed to run a atm business, 5. management & organization of your atm business., 6. atm business startup expenses & captial needed..

This section should be broken down by month and year. If you are still in the planning stage of your business, it may be helpful to estimate how much money will be needed each month until you reach profitability.

Running costs refer to ongoing expenses related directly with operating your business over time like electricity bills or salaries paid out each month. These types of expenses will vary greatly depending on multiple variables such as location, team size, utility costs, etc.

7. Financial Plan & Projections

A financial plan is an important part of any business plan, as it outlines how the business will generate revenue and profit, and how it will use that profit to grow and sustain itself. To devise a financial plan for your atm business, you will need to consider a number of factors, including your start-up costs, operating costs, projected revenue, and expenses. 

Frequently Asked Questions About Atm Business Plans:

Why do you need a business plan for a atm business.

A business plan is essential for any business but especially for a new ATM business. A business plan will provide a roadmap to success, outlining your short-term and long-term goals, target market, financial projections and other important details that are necessary for running a successful business. Without a comprehensive business plan, it may be difficult to secure financing or make informed decisions on when and where to invest resources. Additionally, it provides an opportunity to identify any potential pitfalls and develop strategies to mitigate them. Ultimately, having a well-thought out business plan ensures that the ATM business has the best chances of success.

Who should you ask for help with your atm business plan?

Can you write a atm business plan yourself.

While it is possible to write a business plan for an ATM business yourself, it may be more advantageous to hire a professional to do the work for you. A professional can offer valuable insights into the industry, help you create an accurate and realistic plan, and may even be able to provide additional guidance and support as you move forward with your project.

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I'm Nick, co-founder of newfoundr.com, dedicated to helping aspiring entrepreneurs succeed. As a small business owner with over five years of experience, I have garnered valuable knowledge and insights across a diverse range of industries. My passion for entrepreneurship drives me to share my expertise with aspiring entrepreneurs, empowering them to turn their business dreams into reality.

Through meticulous research and firsthand experience, I uncover the essential steps, software, tools, and costs associated with launching and maintaining a successful business. By demystifying the complexities of entrepreneurship, I provide the guidance and support needed for others to embark on their journey with confidence.

Sample ATM Business Plan Template PDF

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.

Need to write a plan for your venture? Download a FREE Business Plan PDF Sample to develop a template for your own startup.

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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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 .

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!

ATM Startup Cost

Written by Dave Lavinsky

Starting an ATM business can be a lucrative venture, offering opportunities for passive income and financial independence. In this article, we will provide an overview of the costs to launch a successful ATM business, a critical part of developing your ATM business plan .

Whether you’re a seasoned entrepreneur or someone considering entering the ATM business for the first time, this guide, with a focus on the financial components of an ATM business plan, will shed light on the financial aspects of this industry and help you make informed decisions.

Download our Ultimate Business Plan Template here >

A Detailed Guide to Startup Costs for an ATM Business

Starting an ATM business involves several critical capital investments essential for establishing a reliable and accessible service for customers.

Capital Investments

Atm machines – $3,000 – $8,000 each:, vault cash – $10,000 – $50,000:, location rentals/leases – varies:, internet connectivity – $50 – $100 per month per atm:, maintenance and repairs – $50 – $200 per month per atm:, non-capital investments, working capital – $5,000 – $10,000:, staff salaries for the first 3 months – $10,000 – $20,000:, launch your atm today, initial marketing and advertising – $2,000 – $5,000:, insurance – $1,000 – $2,000:, supplies and maintenance tools – $500 – $1,000:.

Starting an ATM business can be a lucrative venture, offering passive income and a valuable service to communities. However, it’s essential to understand the startup costs associated with this business and plan accordingly. By carefully managing both capital and non-capital investments, you can position your ATM business for success in a competitive market.

Remember that while these estimates provide a solid framework, actual costs may vary based on factors like location, machine type, and the scale of your operations. Conducting thorough research, negotiating favorable location agreements, and developing a robust business plan are essential steps to ensure profitability and long-term success in the ATM business.

Estimated ATM Business Startup Costs

These estimates provide an overview of both capital and non-capital investments required to establish and operate an ATM business in the United States. Actual costs may vary based on factors like the number of ATMs, their locations, and maintenance needs. It’s essential to conduct thorough research, negotiate location agreements, and develop a solid business plan when entering the ATM business to ensure profitability and success.

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With Growthink’s Ultimate Business Plan Template you can finish your plan in just 8 hours or less!

Additional Resources

• ATM Business Plan Template
• How to Start an ATM Business