The 5 Reasons College Students Should Start an ATM Business

The 5 Reasons College Students Should Start An ATM Business

As I looked at my humble beginnings in this industry, I came to a realization- Many people that I have met in this industry started as college students. Since I never thought about the problems a college student have, and that learning about independent ATM business ownership may be helpful.

I thought I’d write this article to address it and shed more light on this small industry. So here it is, the 5 reasons college students should consider starting their own independent ATM business.

If you’d prefer the video instead, here is the link to the YouTube video on the same subject:

1. You have “insider” information

College students can easily find locations and build rapport and relationships with local businesses. By having access to insider information you’re able to talk to different people in your classes and as you are typically roaming around, you will easily be able to see and find locations that people frequent. 

You can easily go to businesses that are near campus and observe just how many people go there, the foot traffic, where it is located, and if there’s an ATM there already. 

You can then go inside these businesses and talk to the owners to start to build rapport and a working relationship with them.

This way, when you propose your ATM business to them they already know, trust, and like you, therefore you have an easier chance of placement in their business.

2. Leverage the campus

You could leverage the campus specifically to learn where the food shops are, food trucks, pizza shops, small local restaurants or snack shops, where people usually go to, and then if you don’t know anymore, you can ask your classmates where are good places to go.

 You could also observe transit stations and how people get to school from buses or on rapid transit and trains. You could find out where people go to have fun.

Places where college students generally visit, like bars and clubs. You can ask and find out what clubs are the most popular in the area, which bars are the most popular, and how far they are(walking distance from campus, short uber ride), basically, how easy they are to get to for college students.

Additionally, you can find out where music venues such as concerts and music festivals are, which are heavily visited by college students. You could find out where they’re located what time, what seasons, and what time of day, or time of the year they are held, and the duration( a few days, weekend,etc.).

3. Close proximity to campus

 You can reach your ATMs easily and quickly 

An additional advantage is that you are usually within close proximity to the campus. 

You most likely live in an apartment or dorm that is so near to the campus that you can have a service area that’s within close proximity to it. What this allows you to do is to allow you to quickly service and replenish your ATMs without traveling great distances and do it in a short period of time.

4. Time flexibility 

You control when you replenish ATMs and make passive income while you are in class (don’t worry about missing exams or classes).

Since you are able to replenish or service your ATM machines in a little bit of time, it allows you for greater time flexibility. Gone are the days where you had to worry about missing class or missing a test or an exam due to having to work.

 Instead of doing that all you need to do is to schedule your replenishment times outside of study groups, exams, and classes. You can do this because you have complete control over your time because you own the business independently.

Therefore you decide when you replace your ATMs and service them making it a much easier way to schedule your day. Additionally, it only takes between 4 to 6 hours to replenish your ATMs all week.

5. You think like a college student

 You know when and why today’s student needs cash.  

Another benefit and advantage that you have are that you think of like a college student because you are a college student.

This means that you have the insight to know when and why students need cash over cash transfer apps. For example, you will know when someone needs cash to pay for things such as food stalls, bars, club fees, farmer’s markets, and the like. 

Most of those places are cash only if not all of them, and don’t expect things such as Venmo, or PayPal, or a myriad of other cash apps to be accepted.

Thus you can leverage your lifestyle, friends, and connections on campus to help open up an easy way to get Business research and insights for your ATM business.