Businesses that have physical locations and offer services and/or sell products to consumers must seriously think of setting up an ATM. Businesses that don’t have an ATM on-site are actually letting thousands of dollars of income go to their rivals. Read out the passages below to know more in this regard.
Businesses without ATM machines are likely to Lose Money
ATMs are far more than a mere cash-supplying machine. Some advanced ATMs can perform several other transactions, like paying bills for utilities. A company that doesn’t have an ATM on-site can experience these losses:
- Fees of ATM transaction.
- Incomes from other purchases that are made after clientele gets money from an ATM.
- Go over a business that comes from using ATM by those clients.
- Income possible from dragging in new clients who want to utilize an ATM.
When should you get an ATM for Business purposes?
One of the top reasons to set up an ATM is if a company is situated in an area that draws high levels of foot traffic. Promoting ATMs with eye-catching signs on the doors or windows is a wonderful way to motivate individuals who’re interested in entering the shop.
Another excellent reason to have an ATM on-site is if part of the company needs or normally uses cash payments.
Other areas that can get benefitted from an ATM comprise:
- Convenience Stores and Gas Stations: reports say that an average convenience shop that retails fuel has about 1,000 customers a day or the equal of 400,000 clients a year.
- Grocery Stores and Supermarkets: A small and successful grocery shop may have 2,000 customers a day. A supermarket can double this daily amount easily and have over 1.3 million clients a year.
- Restaurants: several businesses will observe foot traffic throughout peak business hours of 300-1,000 walkers per hour.
- Hotels & Motels: hospitality properties which serve foreign guests are a good place for on-site ATMs as the guests require getting local currency utilizing their bank cards.
- Hospitals: a Hospital may have thousands of patients go through every day and that doesn’t even include those who go with them.
- Shopping Malls: food courts in malls are good locations for ATMs, as people gather together in that place and find conveniences like ATMs.
So, what are the advantages of having an ATM?
Along with the improved income from ATM transactions and the added sales made, business owners also enjoy additional bonuses, like, Less Processing Fees of Credit Card, improved client Retention, and more.
The bottom line
So, now you may want to install an ATM. But, when seeking a company for installation, make sure you choose a reputed one. A reliable ATM company can handle all the works within your budget.