Business Buying Academy Breaking Into The ATM Industry To Make Millions - Mitchell Sorkin
While people claim that cash is slowly becoming obsolete, entrepreneurs in the ATM industry are making millions.
In less than one year, Mitchell Sorkin went from 3 ATMs to more than a hundred and did over $200k in revenue.
In today’s episode of Boring Businesses, I'm joined by Mitchell Sorkin, co-founder of Sorkin ATM Co., to get an insider look into the ATM industry, how to build a profitable ATM business in 2024, whether cash is going to disappear in the near future, and so much more.
Timestamps:
00:00 Intro
01:37 Mitchell’s Background
06:38 Getting Into The ATM Industry
10:00 How The ATM Business Works
12:23 Understanding ATM Surcharges
14:59 Forming Partnerships In The ATM Industry
16:00 Purchasing An ATM
18:05 The Challenges Of Loading An ATM
19:53 Diving Into The ATM Marketplace
22:28 The Leaders Of The ATM Industry
24:26 The Average Number Of ATM Transactions
26:22 How To Avoid Overpaying For An ATM
28:09 What’s Next For Mitchell
32:43 Financing The Business
36:07 Will Cash Disappear Soon?
40:09 The Problem With Bitcoin ATMs
41:46 The Importance Of Building An Audience
45:54 Where To Find Mitchell
👉 Connect with Sieva
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👉 Connect with Mitchell
Twitter: https://twitter.com/mitchell_sorkin
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