How to Make $864K/Year Profit with ATMs. ATM Biz Deep Dive. Ep #072

I sat down with Mitchell Sorkin, the ATM guy from Twitter. He owns 900 ATMs across Los Angeles, bringing in $864,000 a year in net profit. We talk about how he bought these locations rather than using cold calling to get them, and why this is an approachable business for anyone. The multiples are much lower than you'd think, making it a great opportunity in a well-established industry.

At the end, we talk about few different business ideas beyond the ATM industry, including a unique AI business idea that you probably haven’t heard of.

Timestamps below. Enjoy!

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00:00 Highlights

00:14 Introduction to Business Ideas and ATMs

01:12 Meet Mitchell: The ATM Guy

01:48 Starting Small: The First ATM Deal

02:35 Scaling Up: From 3 to 900 ATMs

04:45 Challenges and Strategies in the ATM Business

06:18 The Importance of Location and Contracts

16:25 Revenue and Margins in the ATM Industry

17:44 Acquisition Strategies and Market Insights

20:12 The Best ATM Locations: A Case Study

24:09 Managing High-Volume ATMs

25:06 Cash Loading Strategies

26:40 Surprising ATM Locations

28:19 Dealing with Theft and Insurance

29:25 Challenges in the ATM Business

31:00 Advice for Aspiring ATM Owners

32:51 Future Plans and Market Insights

36:22 Exploring New Business Ideas

38:54 Diving into Comfy UI

44:14 Resources and Tools for Comfy UI

46:57 Conclusion and Contact Information