In a world in which marketing challenges for entrepreneurs abound, many self-starters are looking for fresh approaches to expand their business, enhance customer service, and boost revenue. An effective but often unheralded idea is to lease an ATM.

Getting your first ATM is easier than many people realize. Here’s everything you need to know about leasing an ATM, from determining why you would need it to use it as a lead generation tool.

1. Decide why you want an ATM

Does your business use cash? Are you adjacent to cash-only businesses or in a location that has a heavy amount of foot traffic? Are consumers requesting it? Even though we largely live in a cashless society, there are still many scenarios in which cash is the only or preferred way to pay. It’s important to know who will likely use your ATM before you go through the process of obtaining one.

Leasing an ATM is a great option for businesses that want to provide their customers easy access to cash but don’t have the capital to buy their own machines outright. It’s also a terrific way to provide attendees at an event simple access to cash. This not only makes it easier for the visitors but also it could boost the event organizer’s financial situation — after all, their bank account stands to gain from every transaction made.

2. Find the right provider

Of course, if you’re leasing an ATM, you need a reliable and reputable company to lease it from. Look for a company that specializes in ATM leasing. Ask about flexible contracts, repairs, and cash delivery. Typically, the leasing company is responsible for maintenance and cash fulfillment as part of your agreement. It’s also important to understand what percentage of the transaction surcharge you’ll be able to keep. Many ATM companies let you keep 100% of transaction surcharges provided that you meet other requirements.

3. Get the required permissions and licenses

You should consult the local authorities to determine if any permissions or licenses are required prior to the installation of an ATM on a property. There may be zoning laws, safety standards, or other limitations that need to be considered depending on the site. Getting the required authorizations and licenses in advance will save you a lot of headaches later on.

4. Add signage for visibility

Installing the ATM comes next after securing the relevant licenses and authorizations. It is essential to position the machine in a prominent location and add signage in order to make it more visible. This may be as easy as hanging a sign that reads “ATM Inside” on the store’s entrance or window or even putting up a banner outdoors. 

5. Ensure safety and security

While running an ATM, safety, and security are paramount. You should take precautions to avoid any possible theft or vandalism, and make sure the ATM is situated in a well-lit, safe place. Examples of safety measures include setting up security cameras, alarms, or motion detectors, and making sure the ATM is firmly anchored to the ground. A secure and dependable network is a must-have for an organization’s ATMs. A business may protect its clients’ financial information and maintain its good name by encrypting data, securing physical sites, and working with a reliable ATM provider. 

6. Incentivize ATM use

Leasing an ATM might assist companies in reaching customers outside of their immediate vicinity. Customers from outside the area may readily and conveniently obtain cash thanks to the availability of an ATM. By offering discounts to customers who use an ATM, you may encourage repeat visits and cultivate customer loyalty. In order to save money on transaction costs, some businesses may take only cash payments; nevertheless, this may restrict the payment options accessible to their consumers. Placing an ATM at your place of business will offer customers the ease of making cash payments and rapid access to cash. 

7. Use the machine to generate business leads

One approach to make the most of a leased ATM is to adorn it with signs and promotional messaging for your company or products. Consider adding a call to action. You may offer customers incentives to share their contact information. You may also learn more about consumer behavior and preferences via the usage of transaction data from ATMs, which can then be utilized to improve your marketing and sales efforts.

Another tactic is to place the cash machine in a high-traffic location, such as a retail mall or a tourist attraction. You may be able to collect contact information from folks who are more likely to be interested in what you have to offer if you place the machine in an area where people are actively shopping.

Explore your options

Leasing an ATM is one of many ways to increase your revenue and broaden your business portfolio. The great thing about a lease is that if it isn’t working out, you can always give the machine back. It’s certainly worth a try!