If you had.....

[jer-z jock]

A little cash on hand and were looking to invest or start a small bussiness for yourself what would you need to start it up and what would you do?

Ive been thinking of buying a few ATM machines and placing them in local bars along with a club owned by a family friend, with LOTS OF LUCK I could land a municipality to get one in and take advantage of the courts ripping people off, when its pay now or go to jail...people dont mind swiping the card and paying a $5 service fee. I figured with ATMs running around 2-4K and placing about 3-4K into each money vault of the ATM for about 5-8K per ATM I could slowly go from 6-10 ATM machines and gain ground as the swiping fees rack up, so with about $35K I could get off the ground. Problem is having the GONADS to actually put this into effect....no laons needed and I would be in TOTAL control other then the people swiping the machine, buying the ATM outright and using my own money I can move the ATM when its not doing good or pull the plug on the facility owner if they get a little greedy and want a few more bucks if they see success. The reason I share this idea is because this could be done anywhere and its not geographical essential so anyone of us/you could do this as well and not harm anothers business.

Other idea I had was to get into a franchise or "chain" but I havent sold myself on that, the ATM seems like a little less work and possible more return, only inventory I need is to restock the cash vault!!

Please share any ideas you may have....if it doesnt jeopardize your chances of starting it out!

 

[THE KOD]

I dont think you can go into the ATM business like that.

There are special license and things .

Not sure its viable.

Insurance would be very costly. They run trucks into businesses to steal ATM's :scared

 

[jer-z jock]

I dont think you can go into the ATM business like that.

There are special license and things .

Not sure its viable.

Insurance would be very costly. They run trucks into businesses to steal ATM's :scared

Not sure about that Scott....when you place your money into your machine all you need is a location, I have a friend who's OWNS over 120 machines, he's doing quite well, even fixes his machines if they become malfunctioned. I guess the only set back would be if the machine was robbed, you would be out of the money you placed into it. I will ask him about the insurances(if any) and I am pretty sure no special permits needed here in my home state. I actually derived this from him as theres millions pf places to put these things....he's a totsl control guy so becoming partners isnt his style...he will ingorm me of anything needed of I decided to jump in though which is an awesome thing to have!

 

[ces]

JzJ,

I have nothing magic to add. But if you have access to a friend like you mentioned that is willing to share his knowledge of a successful biz, I would be all over it. In fact, I would be interested in doing ATM's here in Indiana.

There is nothing like being in business for yourself. It is MUCH harder that people realize, though. I'm sure others here will concur.

(Scott, is your glass ever half full?)

 

[THE KOD]

JzJ,


(Scott, is your glass ever half full?)

...............................................................

I am a realist when it comes to opening business ventures.

I look at all sides to make sure I am not going to get screwed. ( Insurance )

If you could install ATMs in malls you could make a small fortune. Anywhere with a huge traffic flow could make money.

Maybe you could open some under your friend and pay him to service them for you for a percentage of profit on the machine.

 

[jer-z jock]

Thanks guys and I am not trying to start a war of words, I just THINK theres a ton of people out there trying to do something for self vs. clocking in and accepting what the guy wearing the suit(or owner) has to say about your lifestyle, working hours,days and how much time you ACTUALLY get to spend with your family. I have ran my own business and was mildly successful but do to the fact that I WASNT IN TOTAL CONTROL in the long run I got moved out of business because someone else wanted me t be out. I ran an installation team that contracted work from and for DIRECTV doing installations and service work, we did well and had very high grades on the work performed....a big wig of the company I was contracting for decided that all companies needed to have atleast 10 trucks running to be left onboard, I had 5 at the time this was put into effect...I wasnt one to run out and hire ANYONE just to make the cut Id rather have quality technicians and work done to prevent the (possible) lawsuits and confusion of bad work, so my company was let go and we were took for a good amount of money(around 10K or a little more including my personal losses) so I invision a day where I control my destiny and I THOUGHT this may have been a good place to share some thoughts and pass along good ideas.....maybe I was wrong though....if you have ideas and no money well this may be a good place to let it be known and vice versa if you have money and no good ideas, use what you got to get what you want!!!!

MAYBE I SHOULD LOOK INTO A POLITICAL FORUM, I KNOW IT WILL STAY FULL OF PEOPLE FIGHTING AND RANTING ABOUT THE POLITICS OF THE WORLD AND TRAFFIC WILL BE PLENTIFUL:mj07:
Or OPEN A illegitimate book and just let others make me rich:shrug: WHAT WOULD YOU GUYS DO, I am still interested in seeing other ideas rather then push mines or even defend my ideas. LETS ALL SHARE IDEAS and if SOMEONE maybe not even myself can grab something and run with it then all the typing and talk was worth it!!!
LOOKING FORWARD TO HEARING FROM YOU GUYS!

 

[ces]

Any variation of Scott's idea could work. Some way of getting locations with your friend's help and rewarding him would be to get an agreed upon no. going and pay him per setup or a % for a specified period on those machines. It would be understood that you would then start on your own with the experience he's helped you with. I can't emphasize enough how valuable his knowledge would be in a startup. It's NEVER as easy as it seems and your buddy could help avoid the pitfalls he faced at first.

 

[jer-z jock]

Any variation of Scott's idea could work. Some way of getting locations with your friend's help and rewarding him would be to get an agreed upon no. going and pay him per setup or a % for a specified period on those machines. It would be understood that you would then start on your own with the experience he's helped you with. I can't emphasize enough how valuable his knowledge would be in a startup. It's NEVER as easy as it seems and your buddy could help avoid the pitfalls he faced at first.

I totally agree ces, I am proding for more info but I dont want to bumrush the guy as if I am stepping into his business or taking away prime location from him, see here if I share my ideas as yourself you are in Indiana(congrats to the Indiana Storm AAU basketball program-under 12 yr old won the AABC National Title at a tourney my sons under 11 yr old team won the same...Garden State Elite under 11 yr olds) but back to the subject....and you wont impeed my growth or lock up any locations that would be beneficial to me here in Jersey, he and I live within 15 miles of one another and he no doubt would have to show me a few locations that he could use himself, not saying he wouldnt. But when I show someone the way on making money, I dont want to be burdened with making the money for them also, and essentially thats what I will be asking him to do. I would rather venture out and if or when I find a stump I could ask him to help me grind it down to flat land again. He was grateful enough to lend me the idea and inside on his costs, so a little work on my own would ONLY be right, if I ask him for everything as mentioned he doesnt want nor need partners.

 

[justin22g]

where is agent when you need him?

 

[layinwood]

Jer-z, maybe you could buy an existing ATM business. I own a company but I'm always looking at bizbuysell and other places for new business. You can buy one, get 6 months training from the current owner and then grow it from there.

Just a thought anyway.

 

[jer-z jock]

Jer-z, maybe you could buy an existing ATM business. I own a company but I'm always looking at bizbuysell and other places for new business. You can buy one, get 6 months training from the current owner and then grow it from there.

Just a thought anyway.

Thanks layinwood, I never thought of anything along that line, BASICALLY BUYING OUT A CURENT BUSINESS, will put some time into looking at not only ATMs but ANYTHING that has positive returns. I was about 2 miles away from buying a dumptruck and a semi-tractor but the price of fuel had me turn away, now I am back to thinking and listening!! Thanks for any info or advice.

 

[ces]

Along the lines of layingwood, does your friend have any locations that are inconvenient for him to get to or a pain in the ass that he would part with. I used to have vending machines and part of my route changed through different circumstances and I was left with one out of the way location that was profitable but very inconvenient. Something along those lines.

I understand about your not wanting to bumrush him. Since he was willing to discuss it, I'd tell him of your interest and that you absolutely would not jeopardize your association with him and what parameters would he be completely comfortable with.

 

[jr11]

If I had extra cash I would give it to MJ and send him to Vegas or place a future bet on under total wins for Pittsburgh Steelers season.

 

[jer-z jock]

Along the lines of layingwood, does your friend have any locations that are inconvenient for him to get to or a pain in the ass that he would part with. I used to have vending machines and part of my route changed through different circumstances and I was left with one out of the way location that was profitable but very inconvenient. Something along those lines.

I understand about your not wanting to bumrush him. Since he was willing to discuss it, I'd tell him of your interest and that you absolutely would not jeopardize your association with him and what parameters would he be completely comfortable with.

Actually he does, he was just complaining of one place specifically, but the location is gonna do one of two things....defiantely gonna get the machine robbed or get himself or myself robbed, its in Philadelphia and its not the glitzy glamour part of the city. I will HOPEFULLY build the courage to impose on him and ask him for a bone, but I dont want to go for the gusto and have him go into a shell on me, this may be a work in process and not the overnight success story.

 

[BleedDodgerBlue]

Actually he does, he was just complaining of one place specifically, but the location is gonna do one of two things....defiantely gonna get the machine robbed or get himself or myself robbed, its in Philadelphia and its not the glitzy glamour part of the city. I will HOPEFULLY build the courage to impose on him and ask him for a bone, but I dont want to go for the gusto and have him go into a shell on me, this may be a work in process and not the overnight success story.

I had a friend who did ATM's. He said its a dead industry for a couple of reasons. All the great spots are already under contract. All the businesses want at least 50% of your take from the machine. Why wouldn't they....you are using their space. It's not like they are going to give it to you for free. And last, he said no one is using ATM machines like they used to. Why would they. Every place takes credit these days and there's no fees for using your card wheras unless you find your bank there is always a fee for withdrawling cash.

BOL in your business venture, but from talking to him, I would steer clear of ATM's. And I agree with Scott that of course there is insurance if you are putting large sums of money in places. Also, you have to pay Brinks, or whomever to fill it if you multiple locations. If you have 100 machines are you gonna just drive around with 200k and fill your machine. And you have to fill your machine during business hours of whatever store you are in. It's not like they are going to give you a key.

Anyway,

gl

 

[Agent 0659]

If you have some $$$ burning a hole in your pocket, sponsor me to go back on tour:0corn