ATM Sales: Part 3, Assessing the Location

By Vito | March 9, 2011

Once you have assessed your customer’s needs you need to assess the true viability of the prospective location.  There are a  number of criteria you need to consider to understand the the location’s potential for success.  Some of the first things you need to ask your prospect:

These are some obvious questions to ask the location’s proprietor, but there are observations you need to make on your own.  Obviously, if the proprietor claims that 500 people come into the store daily yet while you’re there you don’t see a soul in the business,  you’d best be suspicious.  In addition, you’ll want to determine the best position in which to place the ATM inside the business, hoping the owner agrees.

If a placement is what the prospect is after, then you’ll have to negotiate who takes care of the phone line, or see if it’s possible to share a seldom used line (i.e. fax line) to avoid additional costs.   If a jack needs to be installed, you’ll also need to negotiate who’s responsible.

Lastly, if the prospect wants a placement, do you really think the location will yield enough profit to make it worth your while?  This is the golden question, and if there is any uncertainty you’d best have a clause in the contract giving  you an out if a certain profit and/or volume of transaction threshold is not met.  If you ultimately think it’s not going to satisfy your profit expectations, it’s time to push the sale of the equipment, or at worst give the prospect the equipment and require him to load the cash…

Stay tuned for the final blog, part 4…

Topics: Sales | 2 Comments »

2 Responses to “ATM Sales: Part 3, Assessing the Location”

  1. Jeff Popplewell
    3:01 pm on February 6th, 2012

    What concern should I have of another vender attempting to get my customer to break his contract with me? Is there a lot of turn over in sites due to this sort of behavior? Does it pay to sue?

  2. Vito
    11:11 pm on February 6th, 2012

    This should not be of great concern if you have written your contract properly and have performed properly on the ATM. First of all, if you give good service, even if a different vendor swoops it’s unlikely they’ll change if they are happy with you. If another vendor indeed makes inroads toward stealing your customer, you should have a well-written contact to protect yourself from this. Ultimately, you want a happy customer, it makes life easier. So if the other vendor comes in at a considerably better cut you may want to give your client a bit more to keep him happy. Lastly, it can pay to sue, but only if you have a good contract. If indeed you go to court, go to small claims court and represent yourself without a lawyer. If you hire a lawyer you’ll likely cancel out any gains you may make in court.

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