Quote:
Originally Posted by Alex
What about insurance on that thing?
Lets say you have $14,000 in cash loaded up? How much do you pay an insurance company to have it insured in case you get it stolen.
Thats my biggest fear, is insurance. Although if you have it in a mall or something in sure that isnt a problem.
And how much do you pay the location owner to put your ATM in thier location.
Im sure if i owned a mall, companies would be competing over a chance to have thier machine in my mall, so i would definatley charge.
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So first off, with insurance - you basically only are insuring the machine itself. There are companies out there that offer insurance for ATMs, and it is not expensive. Ive never seen it more than $200/year.
You can insure the money as well, but most owners don't for the following reason. Just have it refilled by Armored Transport. They will insure the funds during transport and loading. While it is in the machine, the chances of it getting stolen (and successfully doing so) are extremely slim. If you install it correctly, the farthest most thieves will get it moving the ATM off its base - then give up. It is a 200lb machine, and when you load the bottom with 400lb weights, its not going anywhere.
As for location owners, like I said - if you are a good salesperson you can convince the owner that you are actually doing them a favor - and sometimes not pay them anything at all.
If you do pay them, its usually a small rent fee OR a per surcharge fee (for instance $0.25 per surcharge)
If you can get it in a location like a mall, yes you will be competing. But it is mostly whoever gets their first - because no ATM owner is going to pay the mall more than they are going to earn, so there is a limit.
Any other questions?
