15 bucks a month to be in the ATM business?
I know you’re thinking “Carey, have you lost your mind! I know it costs more than 15 dollars to
be in the ATM business!”
To answer your question, NO. I have not lost my mind.
Today I ordered a wireless modem for an ATM that we will be installing this coming Monday. This particular modem uses the same types of towers that cell phones use. But these wireless modems are what allows your ATM to communicate to the processor and bank accounts and let’s money ultimately get transferred to your bank account.
The cost to maintain these modems? 15 dollars a month. That’s it. There’s not that much overhead in the ATM business. Especially if you don’t hire on any employees.
Obviously, I’m not counting your initial cost of your ATM, or the modem or your initial cash stash for the ATM. Those are all 1 time “fees” if you will, that you will pay off. (The initial cash….it’s just recycled constantly between your customers’ bank accounts and yours.)
But that monthly modem fee….that’s a constant. Even after your ATM and modem is paid off, realistically you could only have a $15 a month expense in your ATM business.
THAT’S PRETTY FREAKIN’ AWESOME IF YOU ASK ME!
I had this particular modem overnighted to me, to ensure that I had it for our Monday install. I’m excited to see how this particular location turns out to be profit wise. It’s a cash-only barber shop. I’m hopeful because of the area…….time will tell.
So tell me, do you think $15 a month is a lot to pay for a lifetime of passive income, ultimately?