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Do You Need To Own A Business To Own ATM Machines?

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Do You Need To Own A Business To Own ATM Machines?

I have had several people throughout the past 2 years reach out to me and ask me if they need to
own a business to own ATM machines so I figured I’d answer that question here.

Now there are usually 2 different scenarios that come up when they are asking about owning a business in order to own ATM machines so I will address them both.

Own A Non-ATM Business to Own ATM Machines

This is the first scenario that comes up. People want to know if they have to own their own business for instance like a convenience store, restaurant or any other type of business in order for them to own ATM machines.

The answer to that questions is a resounding NO! You do not have to own any type of non-ATM related business in order to own ATM machines.

You will go into those non-related ATM businesses though to try to place the ATMs that you own in there. You are what is called an independent ATM owner.

Own An ATM Business to Own ATM Machines

Now this is the second scenario that comes up in peoples questions. They want to know if they have to actually have a full-fledged ATM business in order for them to own ATM machines.

The answer to that question again is a resounding NO! You don’t have to go full out into the ATM business just to own ATM machines. As I mentioned in my last blog post you don’t have to own tons of ATM machines…you can literally just start by owning 1 ATM machine. And if that’s all you want then that’s all you ever have to own.

There is no rule out there when you want to own ATM machines that says how many you have to own. Does that make sense?

Owning 1 ATM machine still means you are an independent ATM owner, but you don’t have to own more ATMs then you feel comfortable with.

To own ATM machines means you’re in a position to start collecting passive income, but ultimately you are in control in regards to how much passive income you collect and how you’d like to own ATM machines, including the number of ATM machines you’d like to own.

If you want to own ATM machines and need more information then grab my ATM Business Road Map here.

how to generate a consistent $3,000 to $5,000+
per month in passive income with atms!

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4 Responses

  1. In many, if not most, states, you would be considered to be in business even if you own only one ATM and derive revenue from it. What you consider to be “full fledged” (whatever the definition of that would be) would be of no consequence to the taxing authority of the state you live in. In fact, they would say it’s a resounding “yes” – you are in business. Whether or not you have the appropriate business license or permits is another matter.

    1. Hi Robert!

      Great points you make here! The purpose of the post, however, was not to give tax advice as that’s not what my job is lol

      The purpose of the post is to let people know that you don’t have to have a full fledged or large scale ATM business to be in the ATM business…you can just own 1 ATM and that’s ok, if that’s what they want.

      Of course, I would hope whoever decides to be in the ATM business, even if it’s just with 1 ATM will seek a competent tax professional in their area and follow all legalities tax wise and with licenses and permits that may be required in their state.

      Hope that makes sense. Thanks for the post Robert…..definitely valuable information in there for folks.

      Carey

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