If you are an owner of the commercial plot, it is better to put it to some good use. Not everybody would be curious to try their fate at business, but you might want to help someone else set up their dream business on your commercial property. This can be profitable since you can draw a monthly rent. Another way to draw a handsome pay from your commercially registered land is to lease it to a bank or an NBFC (Non-Banking Financial Company) for an FCU ATM machine.
Each financial institution will have their own space requirements though. Following which, they will inspect the place for foot traffic, security, infrastructure development and the possibility to place more than one machine always draws great attention.
This scenario is particularly profitable because the income generated from rent is higher. The rent may be subjected to increase each 2-3 years depending on the terms and conditions stipulated in the agreement.
Another way to make extra income is to have an FCU ATM placed inside a shop you own on the commercial land. In this way, people coming to your store will find it convenient to withdraw cash from the machine. You can rent out the designated space to a bank & NBFC or try your luck with franchising.
With franchise-based ATMs, you stand to spend a lot more upfront. So it could take a while before you see some profits. You need to be prepared to pay a security deposit, additional fees, costs of maintenance and repairs, and also have an emergency fund to go at a moment’s notice. Your profits will be low unless the foot traffic at this location is more than 100-200 customers per day. The more withdrawals there are, the more you can make on commissions.
Even after all the expenditure, you will end up making a reasonable amount of money. But remember, if you are new to this business, it is better to try and get a lease for an FCU ATM machine rather than buying it outright. Although these machines are not very expensive, you can get a used one for $1500-$2000 or a new one for just about $4000-$6000, depends on the model and its features. Leasing it from a vendor who offers free servicing, delivery, repairs and year-round customer support would be a good idea.
In all fairness, generating a passive income with an FCU ATM business is quite simple. Earning a monthly rent from your land is sufficient for most people. If you own a few plots in the city then it is better to contact your local banks regarding an ATM opportunity since they are always seeking for one. You can also strike a mutually beneficial deal that gives you some share of the profits made by the ATM owner. If you are responsible for bringing the traffic, you should be rewarded.