forums → General Discussion

Own Your Own ATM - Anyone has involve on this business before?

joannatan on 11/06/2012 - 01:12

just got this email about buying atm machine,they offer 25% return/pa fixed for 8 years. anyone has use their service before?

http://www.ownyourownatm.com.au/thank-you-for-your-enquiry-2...

Ownyourownatm.com.au

Related Store: Ownyourownatm.com.au

Comments

  • +4 votes
    tightwad on 11/06/2012 - 01:33

    ATM machine???!!! You are a keen Ozbargainer! :)

  •  
    joannatan on 11/06/2012 - 01:59

    i just been trick, it said 25% his ass***.

    example $8000 machine with 8 years agreement, at the end agreement they will buy back 10% the value of the machine
    so you will be loosing $7200 at the end of the agreement.

    25%return/pa = $2000
    $2000 * 8 = $16000
    $16000-$7200 = $8800

    $8800/8 = $1100/pa
    $1100/$8000 = 13.75%pa

    I still want to know the risk on this investment.

    • +1 vote
      jv on 14/06/2012 - 00:35

      I still want to know the risk on this investment.

      The ATMs will be located in Greece….

    •  
      Novice on 21/06/2012 - 10:05

      If you were in business as I have been in retailing for +20 years, responses to your thread (gut feeling included) .. Don't do it !

      I'm not sure how much due diligence you've carried out etc… but from experience, it's a lot more than meet the eye.

  •  
    ozpete on 11/06/2012 - 03:53

    I still want to know the risk on this investment.

    One being it gets stolen with all the cash in it…..

    The other being that it doesnt seem to include the location costs - unless you have your own shopfront. Putting it in your flat/home wouldnt be a great location.

    •  
      binaryactions on 11/06/2012 - 10:58

      nah as one of the requirements you have to have the cash insured.

  •  
    alebox on 11/06/2012 - 06:20

    it was better 15 years ago when there were less atms. now that all the banks have atms absolutely everywhere, I doubt its worth it anymore. Mainly good if you own a pub I guess?

    edit: personal feeling. no real data to back it up :)

  •  
    Ozbargain Guru on 11/06/2012 - 08:14

    Check with your accountants, as there are depreciation and tax breaks , as well as usage charges that you can also receive income from them.

    Only hidden charges would be repair and service costs for regular fixes, or repairs.

  •  
    robotdad on 11/06/2012 - 09:04

    This business model has repeatedly failed, taking investors money with it. It has several names,iRC one was MyATM. The projected earnings potential is vastly overstated and i think they were done by the ACCC for making false claims. Google it.

    •  
      joannatan on 11/06/2012 - 10:19

      this is different company, but i have suspicious about 25% return, and no other cost associate with this. he said no other cost involved just monthly return. weird

      •  
        mini2 on 11/06/2012 - 17:16

        Potential MLM/Ponzi scheme?

        Hmm…if it doesn't sound right or seems too good to be true then chances are it's probably a dud?

        All these earnings are based on some sort of assumption - well what if those assumptions were pulled from the land of honey and milk?

  •  
    pauldegab on 11/06/2012 - 09:55

    i wouldn't touch it either. you need to just look at the way you use money yourself. a lot more people now use eftpos, credit cards etc, instead of withdrawing money from an atm. i think it's a dying form of money transactions.

  • +1 vote
    stralya on 11/06/2012 - 10:46

    It will most likely increase the insurance costs for your premises. Just be wary of that

  •  
    Postulative on 11/06/2012 - 11:38

    There's an easy way to assess an investment - return generally rises along with the risk of the investment.

    With a 25% return, you're looking at an awful lot of risk. So:

    1. Can you afford what needs to be put in up front?
    2. Can you afford the on-costs?
    3. What proportion of your savings would this investment be swallowing? You don't want all of your money in high risk investments. Think of people who've lost their life savings - they invested poorly.
    4. Is the quoted return "reasonable"? Sit down with a spreadsheet, put in all the costs, and figure out what needs to be done to give you that return. Does it work?
    5. As people elsewhere have said, costs will include leasing the area you locate the machine, insurance, repairs and servicing, and getting someone to restock it on a regular basis. As well as the cost of that stock (how much cash do ATMs normally hold? You're going to need to include that, or the cost of servicing it, in your figures)
    6. What are the alternative investments for your money and time?
    7. With that kind of return, why does someone want you to invest in this business, rather than throwing all of their own money at it?
  •  
    hatts on 11/06/2012 - 12:40

    This is one I glanced at a couple of years ago:
    http://www.customersatm.com.au/products-and-services/frequen...
    From memory you basically split the surcharge 50/50 and they provide the ATM but it was a while ago now

  •  
    beany155 on 11/06/2012 - 12:52

    Dont forget about 'click' fees to whoever your going to get to switch (process) your transactions.. And then you need someone to do your settlement…

    Not anyone can just enter this market and own an ATM and make profit… The best model for a business would be Travelex..

  •  
    martinj on 11/06/2012 - 13:09

    One thing I've seen is these companies offer a 25% return but don't account for the return on the cash in the machine. For example, you purchase a machine for $10,000 and the return is $2,500 a year (25%). But you have to put $40,000 of cash in the machine, so your total outlay is $50,000. A return on $2,500 on $50,0000 is only 5%.

    •  
      joannatan on 11/06/2012 - 15:07

      read again mate, no more cost, but read my other comment as well

  • +1 vote
    honkyb on 12/06/2012 - 10:25

    There are no costs as i own 5 of them,the way they make there money is from the $2 fee people pay to use the machine, most of mine are in pubs, shopping centers,I depreciate the machines and claim my air fares every time I go interstate easy money for me.
    So out if the 2 dollars I make some,thp oub makes some,own your own atm makes some etc

    •  
      joannatan on 12/06/2012 - 13:16

      how long have you been on this business?

  •  
    Magnate on 12/06/2012 - 13:29

    Did you end up fixing your ADSL joannatan…

    •  
      joannatan on 12/06/2012 - 15:46

      still under investigation, can't believe it but the speed fluctuated between 4200 - 4800 now.

      •  
        joannatan on 14/06/2012 - 01:49

        it is weird all the sudden my speed back to 5500 now

        •  
          Magnate on 14/06/2012 - 10:14

          Gee, fluctuations over a 50 year old piece of copper wire. Couldn't be happening could it! It clearly must be those nasty TPG board members specifically requesting that your account be throttled, how dare they!

        •  
          joannatan on 14/06/2012 - 10:36

          my area just build 10 years ago not 50 years ago mate :)

  • +1 vote
    hello007 on 14/06/2012 - 10:25

    Ozbargain is amazing - just fantastic responses from everyone above - thankyou! :-) Interesting reading :-)

  • Login or Register to Join The Conversation