HoldCo Builders

How To Buy ATM Machines and Build a $10M EBITDA Business | Mitchell Sorkin Interview

6 snips
Aug 18, 2023
Mitchell Sorkin, co-founder of ATM holdco, transitioned from a VC-backed startup to the lucrative world of ATMs. In just two years, his company expanded from 3 to over 100 machines, raking in significant revenue. He discusses achieving impressive cash returns, the advantages of investing in ATMs compared to real estate, and surprising insights on banks' reluctance to work with ATM operators. Sorkin also sheds light on future industry trends and the potential of acquiring existing ATM businesses, making this a must-listen for aspiring entrepreneurs.
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ANECDOTE

Mitchell's Entrepreneurial Journey

  • Mitchell Sorkin transitioned from a VC-backed startup to the ATM business with his brother in 2020.
  • He started by exploring deals on BizBuySell and learning the market by talking to sellers.
ADVICE

Pick Operationally Light Businesses

  • Choose businesses that are operationally light and capital intensive if you want simplicity and manageability.
  • ATMs are preferable to vending as they avoid complex inventory and have simpler operations.
INSIGHT

ATM Cash Management Explained

  • Most ATM operators either load cash themselves or outsource vaulting to armored trucks or other ATM operators.
  • Outsourcing vaulting eliminates cash handling risks and operational headaches.
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