As financial technology improves at an ever-increasing rate, there is less and less need for individuals to carry large amounts of cash to buy things. In fact, it seems the younger generations have moved to almost entirely electronic transactions where no physical money is ever used. However, in this world of credit and debit cards, there will always be a need for good old-fashioned cash. A smart businessman can make a nice profit supplying cash to those who underestimate the need for it by simply placing and managing automated teller machines (or ATMs).
The mobile ATM machines you see in gas stations and bars are usually not owned by banks, but rather by individuals just like you and me. So how can you benefit from this shift in how people view cash? Here are some tips on what you need before starting your own ATM machine business:
Location, Location, Location Youll need to find a location to put your ATM. Look for a spot that gets good foot traffic and people are buying things. If you already own a business, then this may be the perfect fit. Seasonal events such as fairs and festivals are also prime locations for mobile ATMs. If you dont own a business or high...
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