Your business is doing great, but you’re wondering if there is something else that could help your business do even better. Buying an ATM for your business is more helpful than you might think. Now, you could be thinking, ‘I accept all major credit cards, what would I need an ATM for?’ Installing an in-house ATM from an ATM company in Denver could bring many benefits to your customers and business from convenience to increased foot traffic.
Reduce your business’s credit card fees
As a business owner, you are most likely already aware of the fees associated with credit or debit card use. While these fees may be small, over the course of time small fees add up into big fees. If you were to install an ATM inside your business you would increase the amount of cash sales you have and therefore saving you money on credit or debit card transaction fees.
ATM revenue
By installing an ATM you open your business up to another source of revenue: surcharge revenue! By purchasing or even leasing an ATM machine you are able to set your own transaction fee amount. When a customer uses the ATM and pays the transaction fee, that is income directly placed in your business’s pocket. While ATMs require some maintenance, the transaction revenue you’re generating from having the ATM in the first place easily mitigates those costs.
Bring in the customers!
Increased foot traffic is one of the most beneficial results of installing an ATM at your business. When you advertise an ATM in your business, people are enticed to enter your store and spend money. People need cash all the time so by providing that service for regular and potential customers, you draw them into your store giving you the opportunity to make a sale. Who doesn’t like to increase their customer base?
Sales are up
People generally prefer to pay with cash as opposed to paying with cards due to the fees. Credit and debit cards have higher fees than most ATMs, making it a preferred method of payment for most. Customers on a budget also tend to pay in cash more often than with a card because it is easier to monitor spending. An ATM opens your business up to customers that pay with both card and cash, consequently widening your customer base.
Customer satisfaction is key
One of the last things you want to do as a business owner is force a customer to leave your establishment because of a service you don’t provide. Some customers may not have the cash they need on hand and if your business does not have an ATM, you are forcing that customer to leave, find what they need, and then come back. This is a lot of work for a customer and you run the risk of them not returning. Similarly, if you have an ATM your customers will remember and the next time they need cash your business may come to mind. Your customers will not only return for use of the ATM, but they will be relieved they can access what they need from inside your business.
With new businesses popping up every day, you will want to get ahead of the curve and find an ATM company in Denver so you can start enjoying your other source of revenue.