ATM's

[Mitch]

Do any of you self servers have an ATM on site and how is it working out? Any thoughts on this versus cc readers in the bays? Thanks, Mitch.

 

[MEP001]

We don't have an ATM and don't really need one since there's a convenience store barely 100 feet away with one. Customers much prefer to swipe their credit card in the bay over walking to get cash, and the main advantage to us is that they spend more without worring so much about how much they're being charged or having to add coins or bills. To me the cost and risk of an ATM at an unattended site is too high, especially compared to the security of CC acceptance.

 

[Bubbles Galore]

I have thought about putting a drive up atm on my site. I decided against it in the short term so that I could go with in bay bill acceptance and cc. Down the road though it might not be a bad investment to have.

 

[bigleo48]

I looked into this a while back. What I discovered is that it gets used far less than one would think. Perhaps a couple of times a day at an average wash. Not likely worth the $5k expense, maintenance and added insurance costs. What I did l like about the idea of an ATM was the ability to get rid of bills. Also I do not have CC acceptance in my bays, so that would allow someone to use their cc to get cash and then use in the bays. That way they pay for the credit card and not me with fees on every transaction.

I was discussing this idea with a friend of mine who is a bank manager and he informed me that the bank was actively looking in my area for a spot for their ATM. So they wound up putting one in and with a 5yr contract pay me rent every month like clockwork. I just supply the heated and air-conditioned spot in my change room (that was available anyway) and 110Vac.

BigLeo

 

[MEP001]

BigLeo, that's definitely a good way to go. Regular income, no risk to you and all the benefits from having it on site.

 

[Mitch]

Thanks for your input, everyone. My reservations include security and the amount of use. I know that I do not use ATM's that incurr fees. I think that the only logical way to present this in a self serve setting is in a drive-thru setup that will allow car wash customers to walk up to it. I am going to persue this some more, and I will let you know where I get. Thanks again, Mitch

 

[Waxman]

That's the only way I'd do an ATM; rent a spot to a bank.

A wash in a town near me (sort of), where I used to work, has a TDBanknorth
ATM in its lot. It's freestanding. I went by it a few times this week and people were using it.

Bigleo: can you be more specific about terms and how you got the lease agreement, etc.? Maybe in an email to me if you'd rather. Thanks!

 

[coincarwash.ca]

I have a through the wall ATM. I paid 5k for it and I think it is worth every penny.
I charge $1.75 per transaction and usually do approx 125 transactions a month Thats a two year payback...not bad, but most people take out a twenty and put it directly into my bill changer.....priceless. I watch them on my cameras.

I can't calculate how much I generate in extra car wash sales from the ATM, but I am sure it is in the thousands of dollars.

I also accept credit cards in my 3 busiest bays.

 

[Mitch]

Thank you for that great, detailed information. That is about the senario I was hoping for, but I do know that your success may be related to your clientel.