If you’re looking for a simple way to increase your profit margins, an in-store ATM is an easy and effective way to boost your business. But before you start, you’ll need to decide whether you want to buy or lease your ATM.
Buying an ATM
For years, buying an ATM for your business was prohibitive because they were so expensive. Most cost upwards of $6,000. Now, however, ATMs come with more advanced technology, better safety features, and best of all, a lower price point. You can get a high-quality ATM for anywhere from $2,000 to $5,000. That’s an attractive price point for businesses looking to add an ATM to their space without adding a monthly lease payment.
Additionally, financing interest rates are currently at a low, which means that in the long run, purchasing an ATM might be a better option. So while the upfront costs of purchasing an ATM are higher in the beginning, over the life of the ATM, the Return on Investment (ROI) has the potential for being greater since once the ATM has been paid off, all of the profits are yours to keep.
Leasing an ATM
Another viable option is to lease an ATM. If your business plan does not currently include the resources to outright purchase an ATM, leasing is a great solution. Leasing an ATM allows business owners to earn income from ATM surcharge (or convenience) fees while they make payments on the ATM.
Another reason why leasing is a viable option is that lease payments are always the same. Business owners won’t have to worry on a constant basis about what they will owe the following month. Lease payments will be defined at the beginning of the lease term.
Additionally, businesses who lease an ATM can claim their expenses as cash deductible.
Whether you decide to lease an ATM or purchase one, you will want to talk to an ATM expert about your options. Either way, by incorporating an ATM into your business, you are helping to increase annual profits and ensure the viability of your business for years to come.