Wondering how much money you need to start an ATM business? The good news is, it’s less than most people think. Here’s a simple breakdown of what you’ll need.
What are the main costs?
- Registering your business (like an LLC)
- Buying your first ATM machine
- Cash to fill your ATM
- Bank account setup
- ATM sign
Typical startup costs:
- ATM machine: $2,495–$4,000
- Business paperwork: $100–$300
- Vault cash (to load in ATM): $2,000–$4,000
- Bank accounts: Usually free or low fee
What else might you pay for?
- Marketing sign for your ATM
Checklist:
- Â Save up for your ATM purchase
- Â Register your business
- Â Open two bank accounts
- Â Set aside cash to load your ATM location
- Â Plan for small extra costs
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