Nothing about opening a business should be done in a haphazard manner. From finding the right footprint where foot traffic will provide consistent income to completing renovations and purchasing the products that will sit on your shelves, entrepreneurs are going to need funds on hand to get off the ground. These same individuals are going to need plans for the future such as turnkey ATM solutions and other marketing efforts, but we’ll have more on that later.
According to the U.S. Small Business Administration (SBA), it could cost a few thousand dollars for a one or two-employee shop to open up. On the other hand, Entrepreneur magazine says that a “retail” store could spend $50,000 before ever making single sale. If you’re at either end of the spectrum or somewhere in the middle, TheBalance.com says it’s wise to set a break-even point. This is “the point at which cost or expenses and revenue are equal — there is no net loss or net gain.” While it’s true that breaking even could make payroll a bit of a hassle, it will keep the doors open for another month – and that could always be the month when things started to turn around.
Planning ahead brings us to our next point: Focusing on the “here and now” of running a business. Owners of a small business, and there 29.6 million such “small businesses” in the U.S. as of 2017, must keep their eyes on the goal. They likely won’t have the time to sit down and plan extensive re-branding or marketing initiatives do drive sales. What they can do, however, is employ turnkey ATM solutions to spur more customers coming through the front door. After consulting a company like National Cash, these businesses owners will learn that turnkey ATM solutions provide them with forecasting, ordering, delivery, monitoring, insurance, reconciliation and maintenance services. This represents nearly the entire scale of purchasing or renting an ATM for your business and making sure it’s always there to give users the cash they need to make purchases – either in your store or nearby. A company offering ATM oversight will also handle any chargebacks, disputes and armored car pick-ups or deliveries – which means one less layer of day-to-day oversight business owners will have to worry about.
According to the SBA, there are 57.9 million employees working at small businesses across the U.S. and these operations make up 99.9 percent of all companies in the country. That means competition can be fierce, but adopting turnkey ATM solutions are one way of offering an additional convenience to pedestrians looking for one more reason to come into your store.