Anyone lease ATM machines?

[alexb5784]

Hi Guys,

I'm looking into ways to make extra passive income. Right now, I'm researching leasing ATM machines and putting them in locations where people are more apt to need fast cash. I know that ATM machines are everywhere, but most people are too lazy to walk to one or are in a hurry and don't feel like walking to one too far away. A lot of people don't care about paying the fee either, just getting the cash instantly

So, does anyone have any experience with this type of business?

Thanks

[searstower]

A lot of your assumptions are incorrect, it depends on where the ATM will be located.

I live in Seattle. Parking is so expensive downtown and public transit is so good that 80% of people who work downtown walk for part of their commute. I stop by ATMs on my lunch hour, and if I need the money, then I'm happy to pay the small fee.

Do your due diligence on the location of the ATM as well as the company you are working with to place them. They can be a very good investment if it fits your personal strategy.

Rebecca

[da1prophet]

Originally Posted by alexb5784

Hi Guys,

I'm looking into ways to make extra passive income. Right now, I'm researching leasing ATM machines and putting them in locations where people are more apt to need fast cash. I know that ATM machines are everywhere, but most people are too lazy to walk to one or are in a hurry and don't feel like walking to one too far away. A lot of people don't care about paying the fee either, just getting the cash instantly

So, does anyone have any experience with this type of business?

Thanks

I'm not sure how lucrative the business of leasing ATM machines will be in the future. The primarily problem you face is that the best areas with the most traffic are already being served by someone who does this professionally (eg: the banks). Since banks are always desperate for new revenue streams they're not as shy about throwing up ATM machines anywhere that might need one like they were in some markets a decade or so ago.

So that means you have to find "sub-prime" locations, or places that banks wouldn't want to deal with. A couple of the local landromats here have ATM machines, but I doubt they get much use. A place like a strip club or a bar might benefit from an ATM machine, but the problem is that most people don't expect to find an ATM there so will get their cash before they arrive.

This might be one of those businesses that was a good idea a few years ago, but where the market opportunity has largely been lost. And even if there is still potential it would require a lot more work--finding locations, servicing the machines, etc.--then my definition of "passive income".

[AndrewJ]

How much do they cost to lease, and how much do you earn per transaction?

Thanks,
Andrew