EP5: ATM Machines that Generate Passive Income with Carey Buck

"ATMs are like little rental properties without tenants,
toilets, or trash."


- Carey Buck (25:59-26:02)

Timothy Dick


Profit Layer


 


Success in any industry requires a commitment to persistent
action. But with some businesses, the hard work paves the way for
an income stream that requires relatively little time, energy,
and attention.


 


Carey Buck has built a profitable business by owning and
operating independent Automated Teller Machines (ATM) while
teaching others how to do the same. With minimal upfront costs,
business owners are creating multiple income streams that support
their financial goals.


 


After reading Robert Kiyosaki’s Rich Dad Poor Dad, Carey became
interested in creating passive income streams. After a brief
stint in real estate, she found out about the ATM business at a
property management seminar. That’s where her entrepreneurial
success started. She was eventually fired from her full-time day
job, but because of her ATM business, Carey never had to find
another job.


 


“Look for people who have actually built a business, had success,
are qualified to help, and care about people.” Timothy Dick
(53:34-54:07)



 


Cash is Still King


 


It’s possible you didn’t even know it was possible to buy your
very own ATM. In fact, 60% of ATMs are owned by private
individuals instead of banks. In a world where people are used to
paying for things with debit and credit cards, cash is still
king. According to the Federal Reserve, cash is the most
frequently used payment method. It’s used for 30% of all
transactions as well as 55% of transactions under $10.


 


The ATM business model is simple.


Buy an ATM.

Set the fee you want to charge users.

Put cash in your ATM.

Place your ATM in businesses or at local events.

When someone uses the ATM, they pay a surcharge that is your
profit to keep.




Maximum Profits With Minimal Investment
Cost
An ATM is a vending machine for cash. But unlike other vending
businesses, you don’t have to buy new inventory. The money
withdrawn from your ATM is returned to your bank account within
24 to 48 hours. By returning that money to your ATM, your
inventory is continually restocked while you collect the
surcharge fees for every transaction.


 


If you place your ATM in a local business, expect to generate
$300 to $600 per month on average. However, there are many
factors that influence your income. Understanding how the
business works is critical to meeting your financial goals.
Mobile ATMs that you place at events and local fairs can generate
larger sums in a shorter period of time. Carey estimates that a
mobile ATM at a local event could generate between $500 and
$2000. The ATM business offers a level of freedom and control you
can’t find anywhere else. You can purchase a machine for around
$2,200, put $1,000 in it, and soon be earning a steady stream of
new income.



“You’re going to operate and run your business much better when
you’re not worried about finances.” - Carey Buck
(49:30-49:38)

Important Details to Consider


 


ATMs have to comply with rules and regulations. If you purchase a
used ATM that isn’t ADA (Americans With Disabilities Act)
compliant, you could face a $50,000 fine. ATMs are vulnerable to
skimmers, devices that illegally collect card data from users.
Without the right business tools in place, you could be held
liable for the losses of your ATM customers. You need to plan for
these and other issues if you want to succeed in the ATM
business.


 


The ATM business can be the ideal path to entrepreneurship for
anyone looking to create new income sources. Retirees and others
looking to leave the 9-to-5 work life can get the freedom they
need by learning how to buy and set up profitable ATMs in their
local area. ATMs give you complete control over your investment,
and you decide what financial goals you want to reach. The ATM
business lets you create the work lifestyle you want. With over
30 million businesses in the U.S. and only 500,000 ATMs, the
opportunity is there for you to create passive income and have
the freedom of entrepreneurship.



How to get involvedIf you
would like more information about Timothy Dick, and the success
businesses have gained through work with him, please visit his
 website.

If you liked this episode, be sure to subscribe and leave a quick
review on iTunes. It would mean the world to hear your feedback
and we’d love for you to help us spread the word!


 


Learn more about how to get into the ATM business at
ATMBusinessBlueprint.com. You can connect with Carey in her
Facebook group and subscribe to her YouTube channel.