I told you the other day that Kathy and I placed our ATM at a new location. It’s a cash-only restaurant in a college town.
Now, we’ve only had it in there since Saturday, 3 days so far. But I have to tell you that the first day we put it in, it had more hits in the 2 months that we got when we had it in that Chinese buffet place! They had 15 hits on Saturday, folks! That’s awesome. I can only wish they would get 15 hits everyday lol But so far, so good even though it’s not 15 hits a day. I think they had about 8 yesterday and around that many today as well.
They are definitely going to kick ass for sure. We got the contract signed today (as the owners were out of town on Saturday.) The owner mentioned lowering the fee to $2 instead of $2.25. We currently have the fee set to $2.25 and we give the owner .25 per valid transaction.
He said he wasn’t that concerned about the .25 and just wanted to be fair to folks. I informed him that thus far people are hitting the heck out of the machine and the extra .25 doesn’t seem to be bothering them. He said he’d like to see how it does in a month and then we’ll determine if we should lower it or leave it the same. He and his wife seem really nice.
I don’t think the extra 25 cents is going to make less people use the machine at all. But the thing I don’t get is that these folks have another restaurant in a different city and they have an ATM in that restaurant….so I’m thinking “why wouldn’t they use that ATM company if they were thinking of putting one in this location too?” Odd. But I’m super happy about it. Heck if things go well, perhaps we’ll get the other location too.
Anyway, there’s all different ways you can structure profit sharing to entice site owners to let you place your machine there. Perhaps, I’ll do a video in the future going over a few (here’s my ATM profit sharing video.) Of course, our favorite is just raising the fee .25 and paying the site owner .25!
If you have any specific questions about profit sharing with locations who let you put your ATM there, just leave ‘em below and I’ll be more than happy to answer them.