ATM Franchise Business: Any business you try your hand at will be difficult, complex, and demanding to manage. But what if someone told you that by making a tiny, one-time, refundable investment of about Rs 5 lakh, you might actually earn as much as Rs 60,000–70,000 every month?  Let us walk you through the ATM franchise procedure and give you an idea of how to operate the business to generate a respectable monthly revenue.


COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Bank-branded ATMs, such as those from SBI, ICICI, HDFC, PNB, and UBI, to name a few, may give you the impression that the banks are installing them. That is not the case, though. The banks that install the ATMs are actually the ones that these banks hire as contractors, and they finish the ATM installation at various sites.
 
For the installation of ATMs in India, the majority of banks have agreements with Tata Indicash, Muthoot ATM, and India One ATM. So, if you wish to get an ATM franchise from SBI or any other bank, you must apply to these companies through their official websites. Because many scams deceive people under the pretence of an ATM franchise, exercise caution and only submit an application through the company's official website.



Requirements for obtaining an ATM franchise


To set up an ATM cabin, you should have an area that is between 50 and 80 square feet. It should be at least 100 metres away from other ATMs, and it should be placed where people can see it readily. Power should be available continuously, and a least 1kW electricity connection is also required. The cabin should be a permanent building with concrete roofing and masonry walls. You will need to obtain a no-objection certificate from the society or authorities if you live in a society in order to install V-SAT.



These Documents would be needed for ATM Franchise


* ID Proof – Aadhaar Card, Pan Card, Voter Card
* Address Proof – Ration Card, Electricity Bill
* Bank Account and Passbook
* Photograph, E-mail ID, Phone No.
* Other Documents/Forms as required by the company
* GST Number
* Financial Documents required by the company



Income from an ATM franchise


In the majority of ATM franchise cases, you will be asked to pay Rs 2 lakh as a security deposit and Rs 3 lakh as operating capital when you apply and receive permission for the ATM franchise. The entire investment, which varies from firm to company, is Rs 5 lakh. You will receive Rs. 8 for every cash transaction after the ATM is deployed and users begin using it, and Rs. 2 for non-cash transactions like balance checks and fund transfers.


(DISCLAIMER: This write-up is for generic understanding. It is not meant to be taken as a financial advice.)