Image via Maritech ATM
When it comes to business owners, the more knowledgeable you are about the opportunities available to you, the more your business will grow. While it is true that there are certainly lessons only well-established businesses can learn with their extended time in the field, there are a ton of other well-known resources available to new, first-time owners as well – resources that can easily increase profits, bring in new customers, trigger more consumer spending and represent their business in a positive way. Installing an ATM at a business location does all of the above, and serves as a long time and valuable investment for any type of business owner.
Business Owners Will Make a Profit
When present at a business, owners and managers alike can rely strongly on an ATM as a source of additional revenue and supplemental income. This extra money is provided in an ingenuous, stress-free way – once the ATM is set up, the customers do the rest of the work by simply using the machine. In this way, money is brought in via the surcharge cost, which is an additional price customers pay to utilize the service. If you choose an ATM installation company that allows you to customize your own surcharge cost, business owners can set the price as high or as low as they’d like, so long as it meets the states’ standard regulation. Regardless of whether or not you get to choose, or what price the surcharge is set at, owners keep 100% of that fee, resulting in a newfound surcharge profit. These transaction fees are a prominent and noteworthy perk of having an ATM at a business.
Customers are More Likely to Spend Money
In a phenomenon known as “impulse buying” (you know you’re guilty), ATM’s increase the overall day-to-day sales of a business just by being available to customers, which really makes sense if you think about it. In addition, having an ATM at a business increases the amount of cash spent by customers there, since it is notably present and they are given the option. This is an overall win for the business, especially since the more cash that cashiers handle – as opposed to debit and credit cards – the less money a business owner needs to pay credit companies.
More People Will Be Driven to Your Business
Let’s face it: In 2016, it is more likely that the average consumer is carrying around a debit or credit card as opposed to a wallet full of cash. That being said, there are countless times in which customers seek out locations with ATMs specifically. Even if the sole purpose is to use the ATM, these consumers will now be driven to and more aware of the business location – and there’s a higher chance that they will spend their money – there upon indulging in your convenience, too. Therefore, an ATM will increase the amount – and type – of visitors, expanding the business’s consumer rate and broadening the demographic.
No matter what way you look at it, investing in an ATM will positively affect a business’s finances and reputation. It’s a resource that easily increases profits, brings in new customers, triggers more consumer spending and represents a business in a positive way. If you’re a business owner looking to install an ATM, consult Maritech ATM at 1855-MARITECH. A family owned and operated company that specializes in ATM installation and cash vaulting and maintenance, Maritech ATM’s headquarters is just a short distance outside of New York City – and offers ATM installation, custom branding and so much more.