Mitchell Sorkin, known as "The ATM Guy," shares his incredible journey from e-commerce to running a booming ATM business with 900 machines generating $180k/month. He discusses the scalability of ATMs, detailing revenue streams through transaction fees and the negotiation of ATM routes. Mitchell highlights the ease of managing capital over people, explores operational strategies, and emphasizes the importance of location for revenue. He encourages budding entrepreneurs to embrace experimentation as a pathway to success.
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From 3 to 900 ATMs
Mitchell Sorkin, "The ATM Guy," started his ATM business with just three machines after transitioning from e-commerce and software.
Within three years, he scaled to 900 machines, generating $180,000 monthly revenue.
insights INSIGHT
ATM Business Models
The ATM business involves two models: processing and own-and-load.
Processing means acting as a middleman between processors and ATM deployers, earning from interchange fees.
insights INSIGHT
Own-and-Load vs. Processing
Owning and loading involves owning the ATM, managing cash, and keeping all surcharges.
Processing involves handling transactions for other ATM owners and earning a share of interchange fees.
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Join me, Nik (https://x.com/CoFoundersNik), as I sit down with Mitchell Sorkin, aka “The ATM Guy” (https://x.com/Mitchell_Sorkin), to talk about the world of ATM businesses. Mitchell shares his journey from e-commerce and software to acquiring 900 ATMs and building a business generating $180,000/month in revenue. We talk about what makes ATMs such a scalable opportunity, how to negotiate deals on ATM routes, and the challenges (and opportunities) of working with merchants and managing capital instead of people. If you’ve ever wondered how the ATM business works or wanted a low-labor, high-margin venture, this episode is for you.
Questions this Episode Answers:
How does the ATM business model work, and what are the revenue streams?
What does it take to scale an ATM portfolio from a few machines to hundreds?
How do you negotiate and evaluate deals on ATM routes?
What are the biggest challenges in the ATM industry, and how do you overcome them?
Why is managing capital often easier than managing people in small businesses?
Enjoy the conversation! __________________________
Love it or hate it, I'd love your feedback. Please fill out this brief survey with your opinion or send me an email at Nik@cofounders.com with your thoughts. __________________________
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