History of the ATM
In the Beginning
The ATM or Automated Teller Machine is a part of everyday life for most people today. Those of us that remember the days when we had to wait for the bank to open or hurry to get to the bank before it closed, certainly know the convenience the ATM provides. In the beginning ATMs were operated exclusively by banks. They were available and made accessing your bank account easier. As time progressed the ATM industry grew and eventually was deregulated so that almost anyone could own an ATM.
When the deregulation happened in the 1990s, ATM companies started popping up everywhere. ATMs began appearing in supermarkets, convenience stores, bars, bowling alleys, public buildings and so on. Each ATM had to have a dedicated telephone line hard wired to the ATM for communication. But, opportunity was everywhere. Sales people sold ATMs to business owners. Investors began buying ATMs and having ATM companies operate them on their behalf to the point that today’s stationary ATM market can be described as nothing other than saturated and the ATM opportunities dried up for the most part.
Fast forward to 2012. On March 15, 2012 the Americans with Disabilities Act was made applicable to all ATMs in the United States. This led to another boon for the ATM manufacturers as almost 500,000 stationary ATMs had to be upgraded or replaced. At the same time, many of the stationary ATMs began using wireless technology to communicate. It was less expensive and much faster than dial up.
One part of the industry that was overlooked during the growth was the location that was not open daily. The ball park that only had games now and then, the race track that was only open weekly and was seasonal, the vacant field that became the county fair once a year and on and on. And this is where the ATMtrailer becomes part of the ATM industry history.
The secret to having a profitable stationary ATM has always depended on the foot traffic passing the ATM in a day and the need for cash by the consumer. There is no doubt that the people at the county fair, races, ball games, festivals, concerts and etc… need to have cash. After all, event promoters put a lot of time, effort and money into getting people to attend the events for one reason; to get them to spend money. Big money!
But, until now there have been no real mobile ATM solutions to fill the need. Installing a stationary ATM and stocking it with cash in case there is an event just doesn’t make good business sense for the stationary ATM companies. That being the case and with the availability of the wireless technology, the temporary event market is ripe, and we all know that ripe means sweet, juicy and ready to pick.
The Right Moment, The Right Company
Events and fund raisers happen all around us every week, some large and some small. Metropolitan areas could have as many as 10 to 15 events occurring in any given weekend. In September, 2014 there are over 600 events in the Dallas/Fort Worth area alone. The one thing they have in common is they will all need an ATM so that the customers can access their bank accounts.
We have a company that we work with that books the ATMtrailer at events. They tell us that about 20% already have an ATM in one form or another. This means that 80% still need to book an ATMtrailer for their event. With an 80% availability of events the opportunity to make big profits with an ATMtrailer are abundant. However, the 80% will not last. The time to act in the mobile ATM business is now!
There are 381 Metropolitan Statistical areas in the United States. This means that there are literally thousands of events occurring each week in the United States. Each event has the potential to generate profitable ATM transactions for the ATM owners.
The number of events continues to grow, so the need for the ATMtrailer will continue to grow. The real opportunity lies in getting the ATMtrailer into the current events that are available; then add the new events as they come along. Just like the convenience stores and supermarkets with the stationary ATMs, the events are available now and providing service to those events should be the immediate goal because they will not last.
Like anything, the window of opportunity is narrow. With 80% of events still available, a large percentage of these events will be very profitable. By finding and contracting these events for multiple years we can solidify ourselves as the industry leader. The key will be to find the events in many markets and operate several ATMtrailer units in each market. Having a presence in multiple markets will make the ATMtrailer family the go to company for mobile event ATMs. There is no time to waste. The timing is right and the window of opportunity is open for a limited time.