Hello PC Members, 1. Has anybody here invested in private ATMs ? 2. Could anybody share any information about it? TIA!
Hven't invested in an ATM but curious to know what your thoughts are and if you are looking to get into it... You only need to look at the data put out by the banks in their ASX disclosures every six months that shows the decline in ATM usage and decline in cash use to know it is going to be a terrible investment in future.
Probably only really works if you've got the other facilities around it to capture the market and make it worthwhile. For example, the Casino has heaps of them, but they don't have any branded ATMs, so they've got a captive audience. I know a kebab shop that has one but they only take cash and there's no other ATMs nearby. Overall I'm seeing fewer and fewer people using cash (part of my job requires analysis of bank statements).
There’s a market for them if sited in the right places. Keen to see if anybody who is actually invested them generate a decent return. The following prefer cash: Drycleaners/ Laundromats Barbers People who use pokies and tabs Certain takeaway places A lot of the above try to enforce cash only or at least make it difficult for you to pay any other way
I would have thought that now, our of all times would be the worse time to consider this. The amount of people that use cash is dwindling - However once COVID19 ceases to exist, I think the preference over contactless card over cash will remain. It would be akin to buying a video store, no thanks
Sorry I have no experience, but private ATMs are surely a dying industry? Aside from the declining demand for cash, there is the fact that the main competition (big banks) now provide their ATMs free of charge. Those 'old school' businesses that predominantly accept cash (conveniently located next to a private ATM) are just hold-outs and within a couple of years they too will have made the switch to electronic payment. Once this captive market is gone, where are the customers going to come from? Maybe given the current disease pandemic and almost total abandonment of cash usage you could pick up a distressed ATM business dirt cheap, but aside from this I can't see how it makes sense as an investment.