The presence of an ATM inside of a mini-mart helps business owners and customers alike. Customers need to withdraw cash in order to make purchases. Businesses need customers to spend money in order to generate a profit. This is why major franchise min-marts and convenience stores present ATMs on their premises. Independently-owned "mom and pop" small grocery shops and convenience stores might not consider installing an ATM. The feeling is the local bank and its ATM down the street are more than helpful. Such an attitude could lead to major revenue losses over the course of a year. ATMs are necessary for both helping with regular cash flow and with marketing success.
Too Far To Reap Rewards
A corner store relying on ATM withdrawals from a bank on the corner at the other end of the block is taking a risk. The would-be customer withdrawing the money has to walk all the way to the store in order to buy something. A lot can happen during a very short trip. A change of mind about shopping or ducking into another store along the way loses a customer. Small businesses with already slim margins of profit really won't benefit from the accumulation of lost revenue over the course of a year. Installing an ATM on a store's premises keeps a lot more money in the store and assists with creating some added -- and needed -- financial stability.
Positioning The ATM
Installing an ATM should be done with a bit of care and attention to customer service. Two very common locations an ATM may be installed are next to the door and next to the register. Both locations come with problems. A person taking money out of an ATM by the door might do so as an afterthought while exiting the shop. Such a customer is leaving with more money than he/she came in with -- not always helpful to proprietors who want customers to spend! ATMs near the register can cause holdups with lines, something that might irk customers in a rush. Placing the ATM off to the side of the front counter and towards the aisles would be wiser positioning.
Place Signs By The ATM
ATMs can be weaved into the promotional side of the business. One way to do this would be to place signs noting specials and sales. By placing promotional items near the ATM, the customer may take out a little more money since he/she now has been tipped off to items for sale.
Contact a company that does ATM installations if you would like one for your shop.Share
28 February 2017
A few months ago, I realized that I was flat broke. I didn't have the money to pay my rent, and I knew that my parents didn't have a dime to lend me. I was in a bad situation, so I decided to start shopping around for a financial services company who might be able to issue me a short-term loan. To my surprise, I was able to find an amazing business to work with that offered low interest rates and acceptable policies. This blog is for anyone out there who has been in a similar situation, and who needs to understand written contracts a little better.