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How to Start an ATM Business Step By Step In 2024 w/ Juan Jeronimo
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In this exciting episode, we have a special guest, Juan Jeronimo, a successful Latino entrepreneur who has built a thriving business in the ATM industry. Have you ever wondered who owns the ATMs you see at barbershops, gas stations, and other locations? Juan went from working on an oil rig to becoming the CEO of ATM Together, and he's here to share his inspiring journey and insights on starting an ATM business from the ground up.
Episode Highlights:
Meet Juan Jeronimo
- Latino entrepreneur
- CEO of ATM Together
- Transition from oil rig worker to business owner
Background Story
- Juan's upbringing and early career
- Journey from worker to business owner
ATM Business 101
- Overview of the ATM business
- What a typical day looks like managing 20 ATMs
Setting Up an ATM Business
- Establishing a business (LLC)
- Sourcing machines: where to get them, cost, types (including Bitcoin machines)
- Understanding ATM processing fees
Finding and Securing Locations
- How to identify and secure the best locations for ATMs
- Contacting and negotiating with location owners
Making Money with ATMs
- Revenue generation from ATMs
- Managing cash flow and paying yourself
Return on Investment (ROI)
- Timeframe for recouping your investment
- Options for those without initial capital, including credit solutions
Scaling the ATM Business
- Strategies for scaling the business model
- Adapting to a cashless society: addressing the trend of increasing credit card use
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Email for questions or inquiries: latinwealthpodcast@gmail.com
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