Setting up an ATM machine: Is it a relatively simple process? What's the catch?
April 24, 2011 2:29 AM Subscribe
The site that I'm valeting at right now has plenty of foot traffic. Almost every time I'm at work, I get asked if there's an ATM machine around. I tell them that it's a half-mile away, and they just give up. I thought it would be a great opportunity to put up an ATM machine nearby.
posted by RaDeuX to Work & Money (14 answers total) 1 user marked this as a favorite
I was thinking of either the lobby of the movie theater, Starbucks, or some other place in the plaza. One of my friends told me that putting it in the movie theater's lobby would be useless, as they would buy their own ATM machine and kick mine out after they see how many people use it.
From what I've seen, indoors-type ATM machines cost about $2-3k. I have $1k saved up so far, so I have the option of either putting monthly payments on the other half, or wait until I have the full amount and buy the ATM machine all at once.
Needless to say, I am new to this idea of setting up an ATM machine at a certain location, since I was under the assumption that there are already plenty of ATM machines in major business areas. I feel fortunate that I found one that doesn't. Perhaps I am being too naive again with my idea of investing in something. Or maybe it will be a good move on my part. What do you folks think?