Profitable Convenience

Posted on April 25, 2014 1:12 pm under General
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We eat most of our meals at home. It’s better on the budget and better for our health. We occasionally eat a planned meal out, such as our Easter dinner at our favorite Chinese buffet, but more often the event has been unplanned. It might be a new entre that turned out to be inedible or a day that’s been so hectic that we’re just too tired to do the cooking and cleanup.

At our previous residence, there was an easy answer to those days; a small diner less than a half mile from our house. Tasty fish, awesome burgers and some of the best fries I have ever eaten, all served in a relaxed atmosphere. We even saw someone wearing their PJ’s! Like all good things, there was a catch. The only accepted form of payment was cash.

Having to drive a few miles to the nearest bank defeated the convenience of a nearby restaurant, so we were delighted, when they installed a small ATM near the entrance. Sure, there was a fee for using it, but no more than the price of gas for a trip to the bank and far less hassle. At the time, I figured the restaurant had realized their cash policy was costing them customers and had found a solution that didn’t involve credit card processing. I never considered it as a new way to increase their profits.

ATMs can be quite profitable, however. Yes, they can increase customer volume and, with immediately available cash, they are apt to purchase more, but ATMs are profitable in and of themselves. EZ Merchant Processing, a New Jersey based firm, delivers free ATMs to businesses and provides regular maintenance and upkeep. Setup only requires a spot for the machine, an electric outlet and a phone or internet connection. For each cash withdrawal, the business receives a percentage of the usage fee. Many small businesses avoid credit card processing because of the associated fees. Here is a great solution that actually attracts more customers and more profit.

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