One question that you’re going to have to ask yourself as a laundry business owner is if you should add an ATM in your laundromat because, in today’s world there still are plenty of consumers out there who will pay with cash or coin.
You have 2 options, you can purchase the ATM machine and maintain and fill it yourself, or have an ATM service provider install, service and pay you a transaction fee.
Like any business decision that you’ve made in the past, there are several important things to consider before purchasing and placing an ATM in your laundromat including:
Cost To Purchase
It’s not uncommon for the average ATM machine to cost between $2,500 to $10,000, so it’s important to keep cost in mind and determine if having an automatic teller machine in your laundromat will be a lucrative investment. Also, you will need to fill the machine with 1,000’s of dollars, pay transaction fees to processor and fix machine if needed.
Another thing to keep in mind when considering an ATM for your laundromat is the cost of maintaining the ATM, along with the cost of keeping the ATM connected to the internet and monitored 24-7 by a security camera.
Besides maintenance, you will also want to keep in mind the long-term supply and upkeep costs of having the ATM in your laundromat because you will be responsible for paying those costs as well. Including refilling the machine with cash $$ as needed.
Is It Worth the Investment?
For best results when determining if you should invest in an ATM for your laundromat or not, you should take the time to learn more about your clientele to determine if they will be using the ATM regularly. If your customers are a mix of different generations, it’s likely that investing in an ATM will bring good ROI for your business.
ATM Machine Service Providers
Consider contacting an ATM machine service provider for your area, they will install, fill, maintain all servicing of the machines and pay you a service fee for each transaction. (No purchase necessary).
By Jeremy Raglin, Content Writer