If you own and operate a business with a physical address, getting an ATM machine may not have crossed your mind. But what many people don’t realize is just how lucrative this can be. You may be missing out on a potential business asset that will bring a lot of money in! 

Save on Credit Card Fees

Credit card companies charge a convenience fee every time a customer completes a credit or debit card transaction. If your profit margins aren’t as good as you want them to be, this extra fee can seem like a lot.

That’s why you want to encourage customers to pay in cash. With an ATM in your business, customers may think twice before taking out their credit card. After all, who wants to deal with credit card payments and a dent in their credit score?

Attract Customers Who Value Safety

If there are other places where you can withdraw money, would you choose to withdraw somewhere there’s no one around? It’s not unheard of for people to get mugged after withdrawing money from an ATM. That’s why as much as possible, people choose to withdraw cash where there can be potential witnesses.

So, if your retail business has good lighting and surveillance, consumers are more likely to stop by. Apart from the convenience fee you charge, maybe they’d even pick up a few items before going their way. 

Just make sure that the ATM is visible. This way, even those who haven’t been in your store will know you offer this service.

Improve Customer Loyalty

People are creatures of habit. For example, if you go on a coffee run every morning, you probably go to the same coffee shop and even order the same coffee.

In some ways, ATMs can also have the same effect. People are more likely to withdraw cash at the same place because it’s familiar. If they know it’s safe at your business, expect them to withdraw money from your ATM regularly.

Increase Average Customer Spending

The most obvious reason to get an ATM is the convenience fee you can charge for using the machine. But not all people will just withdraw their money and leave! Odds are they’d also purchase something.

Having cash fresh from the ATM encourages people to purchase more. It can also encourage impulse purchases because customers believe they have more money to spend on miscellaneous items. Even small purchases can add up to significant amounts.

No matter what type of retail business you own, having an ATM can be beneficial to your bottom line by drawing more traffic, encouraging cash sales, increasing profits, and allow you to earn additional income each month.



Find out if your business qualifies for a free, turn-key ATM. Contact BFC Enterprises today!