How to start ATM business in india
Introduction
In this article we describe about the how to start an ATM in india. There are many at near you or near me wee see regularly. Now we want to know how does it works first of we want to know atm full form is automatic teller machine.
ATM machines in india widely spread in india due to most of the people are cash withdrawing, balance checking , taking mini statement from the ATM daily .
Many ATMS near me absorbs daily which are running daily. I excited to know how does an ATM works . there arre many ATMS like sbi atm , india atm, hdfc atm, bank of baroda atm, Indian bank atm,, micro atm. Most of the people don’t know how to take sbi atm withdraw, how to generate atm pin,atm withdrawal limit.
now I icici atm near me I know how to generate pin but in rural areas some of them don’t know how to change, how to depost in money in an atm , withdraw money from atm.
Banks should not directly give ATM franchise , they appoint some authorized partners to run there transactions. The authorized persons will take over the duties and appoint some franchises according to the eligible conditions .
They choose particular area who are in those place , and the company is decided to establish franchise in the lace they will select persons who applied for the franchise.
This is one o f the indian largest white lable atm network with the atms of 6500 around towns and villages of around the country wih the montly user limit of 1.5 crores and he second largest in he semi-urban and in the rural areas in country.
In india there is only 22 atms for one lakh population, so there is a big opportunity in this franchise business and the company provides the 24hrs supports for its franchiser with any concerns regarding thee problems are in involved in the business.
Company provides training before starting the franchisee they will first train you according to their business operations how to operate the business how to commmunicaate with people.
Business model
There are mainly 4 different authorized companies which are involved in this field
Tata indicash
Hitachi ATM
Muthoot finance
Iindia one ATM
The most running company is tata indicash so present we talk about this franchise bussines In this article .
There is a security deposit of RS.20000 which will be refundable after you left from this business. And also you must have RS.300000 working capital In your curreentt accoounnt to run the day to day transactions.
You have to open a site for atm franchise and after that setup your equipments. Appoint a security guard for safety and security of the atm and cash any time you have to store some money in the atm because you are providing service so no one can inconvience due to you.
You have to install one or two security cameras inside and outside of the atm. Also put fire cylinder at atm.
>In this tata indicash business there is 2 transaacions
Cash transactions
Non cash transactions
The company will pay RS.8 for cash transactions and RS.2 for non- cash transaction.
Cash transactions is are deposite of mooney and withdrawal of money from the atm
Non cash transactions arre balance statement, pin generation etc,
The franchiser responsibility tto avail the cash in atm. You must maintain cash in the atm. The commissions are added by company in your account.
Indicash atm provides
Capital infra
Branding
Annual maintainance
Reconciliation
Secondly maintainance
Franchise partner will do
Sourcing site or construction
Site rent
Electricity bill
Cash replacement
First line infra
General maintainance
There also three different business franchise modes normal,good,best in those 3 business models different different investment and transactions will occurred. But in this article I am sharing only about how to start an ATM with low investment because all don’t have good money in there hand.
We have a doubt why they use ATM in these days most of the people think like this they wont carry the cash in their purse. It is a burde their, they want to use ATM card for making deposits or withddrawig money from the ATM.it is very easier then carrying the cash in our purse.
These ATMS ares established at shopping malls ,movie theatres, schools, colleges,hostels,market places and the huge traffic if you place this if you place the atm in this place you will get the huge traffic to your atm.
In market there we see different number of atms but this atm company different from all of them.its a trustworthy company and provides you the actual legal documents and agreements before starting the business .
Advantages
By taking tata indicash franchise you are only the boss and freedom of time. In this times most of them are using the atm cards.
In case they have not enough money in there hand they instantly going to the the atm and drawing the money from the atm and doing there transactions . creating business seervices to the people in your area .
Tata company is well brand in india and most of the people are known about brand and start visiting your atm. Because this is franchise is providing by the tata group.
style="text-align: left;">Frequently asking questions
1. security deposit is refundable
Yes, refundable
2. how can I apply for this atm franchise bussines
You can apply by visiting the tata indicash atm site website or visiting corporate office
3.security guard needed for this
Yes, compulsory
4.how much capital need for beginner
5 to 6.5 lakhs
5. is there any lock period tata indicash atm business
Yes, there is lock period of 1 year a claw back of 1 lac will be applicable if the franchisee partner exist the business within 1 year.
Make business while staying at home
Note
This article is created for information and education purpose only. We suggest you to deep business research before starting any of the business. We at ourbusiness4us are not responsible for any business loss or profits or mistakes will do during your business cycle.
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