Globally, there are more than 3.5 million ATMs in use, but not all of them are owned by banks. Some businesses buy or lease ATMs for their locations. Still, others employ the help of an ATM franchise such asATMMachines.com.
Justin Gilmore discovered the entrepreneurial possibilities of an ATM business in his early 20s. He had been creating income streams for himself for a few years and was continually researching new business models. Today, armed with over 20 years of experience in the industry, Justin has learned what it takes to succeed in an ATM business.
There’s a Great Potential for Passive Income.
ATMMachines.com doesn’t just own ATMs; it is also an ATM processing company. After someone purchases an ATM, they need a company to process their transactions. ATM processing companies earn a processing fee for service to the bank. In the ATMMachines.com business model, the owner of the ATM never pays this fee. The customer using the ATM pays the ATM owner, and the banking institution pays ATMMachines.com. Justin spent 16 years building this business model to give his customers an advantage and to set his company apart from the rest. To date, Justin owns more than 600 ATMs and processes another 1,200.
It’s Possible to Grow a Little Too Fast.
Early in his career, Justin closed the contract to place ATMs in the Georgia Dome and Georgia World Congress Center. Still young and learning the ropes of the business, he found he didn’t have the resources to maintain such a large account, and the ATMs were constantly running out of money. He lost the account six months into a three-year contract.
But as any savvy entrepreneur knows, failures contain valuable lessons. Justin learned a lot from that experience, which helped ATMMachines.com to slowly and competently grow. And Justin realized that, since he was able to close a contract of that size at the age of 21, anything was possible. He just had to learn from his mistakes and press on.
Opportunities Abound to Help Others.
Justin Gilmore appreciates the ATM business for what it has done for him and what it can do for his customers. In addition to working with owners of ATMs, Justin offers a course to help others build their ATM companies, giving them the chance to start without upfront capital or credit. Helping customers grow is, of course, mutually beneficial. By teaching entrepreneurs how to run multiple ATMs, Justin’s business grows at a much faster rate.
Building a Solid Reputation Has Definite Rewards.
ATMMachines.com currently ranks on the first page of Google for most major ATM-related keywords. At the moment, Justin’s company is selling up to 30 ATMs a month through the website. With this level of visibility, more and more business owners look to Justin’s company for ATMs.