Tag: Owning

Owning Your Own Future, owning your own business.#Owning #your #own #business


The New York Times

Owning your own business

Owning your own business

PALO ALTO, Calif. — Political analysts will long debate over where Brexit, Trump and Le Pen came from. Many say income gaps. I’d say … not quite. I’d say income anxiety and the stress over what it now takes to secure and hold a good job.

I believe the accelerations set loose by Silicon Valley in technology and digital globalization have created a world where every decent job demands more skill and, now, lifelong learning. More people can’t keep up, and clearly some have reached for leaders who promise to stop the wind.

Let me elaborate through a few conversations, starting with Brian Krzanich, the C.E.O. of Intel, who recently remarked to me: “I believe my grandchildren will not drive.”

Since he has teenage daughters, that means self-driving vehicles should be fully deployed in 25 years, at which time you won’t “steer” your car but will program it on a smartphone or watch or glasses. Sounds like fun — unless you’re one of the millions who drive a truck or cab for a living.

But don’t think you’re safe as an accountant, either.

Mark Bohr, Intel’s senior fellow for technology, explained to me that Intel’s main workhorse microprocessor today is the 14-nanometer chip it introduced in 2014. It packs 37.5 million transistors per square millimeter. By the end of 2017, thanks to Moore’s Law, Intel will begin producing a 10-nm chip that will pack “100 million transistors per square millimeter — more than double the previous density with less heat and power usage,” said Bohr.

If you think machines are smart today … wait a year. It’s this move from 14-nm to 10-nm chips that will help enable automakers to shrink the brain of a self-driving car — a brain that has to take in sensor data from 360 degrees and instantly process whether it’s a dog, a human, a biker or another car — from something that fills a whole trunk to a small box under the front seat, so these cars can scale.

When you get that much processing power, putting out that much data exhaust with ever-improving software, you create a world where we can analyze, prophesize and optimize with a precision unknown in human history. We can see trends we never saw, predict when engine parts will break and replace them before they do, with great savings, and we can optimize everything — from the most energy-saving flight path for an airplane to the ideal drilling path for a natural gas well.

I recently visited the control room at Devon Energy, a large oil and gas producer, in Oklahoma City. It’s half a floor of computer screens displaying data coming out of every well Devon is drilling around the world.

At the bottom of each screen are two boxes that blew my mind. One box displays how much money was budgeted to drill that particular well per foot, and the other box displays — in real time — how much the drilling of that well is actually costing, as it bores through different rocks, and it’s updated every foot!

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A typical well might involve sending pipe two miles down and then turning horizontally for two miles east or west — with such precision it can hit a seam of gas as small as 20 feet wide!

If you’re working on a Devon oil rig today, you’re holding a computer, not just an oily wrench. And if you’re getting a degree in auto mechanics at a community college today, it’s not to be a “grease monkey.” It’s to be a repairman for a computer with wheels.

The notion that we can go to college for four years and then spend that knowledge for the next 30 is over. If you want to be a lifelong employee anywhere today, you have to be a lifelong learner.

And that means: More is now on you. And that means self-motivation to learn and keep learning becomes the most important life skill.

That’s why education-to-work expert Heather E. McGowan likes to say: “Stop asking a young person WHAT you want to be when you grow up. It freezes their identity into a job that may not be there. Ask them HOW you want to be when you grow up. Having an agile learning mind-set will be the new skill set of the 21st century.”

Some are up for that, some not; and many want to but don’t know how, which is why the College Board has reshaped the PSAT and SAT exams to encourage lifelong learning.

“We analyzed 250,000 students from the high school graduating class of 2017 who took the new PSAT and then the new SAT,” College Board president David Coleman told me. “Students who took advantage of their PSAT results to launch their own free personalized improvement practice through Khan Academy advanced dramatically: 20 hours of practice was associated with an average 115-point increase from the PSAT to the SAT — double the average gain among students who did not.

“Practice advances all students without respect to high school G.P.A., gender, race and ethnicity or parental education. And it’s free. Our aim is to transform the SAT into an invitation for students to own their future.”

So the tough news is that more will be on you. The good news is that systems — like Khan-College Board — are emerging everywhere to enable anyone to accelerate learning for the age of acceleration.

Step back from all of this and it’s clear that thriving countries today won’t elect a strongman. They’ll elect leaders who inspire and equip their citizens to be strong people who can own their own futures.

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The Advantages of Owning Your Own Business, owning your own business.#Owning #your #own #business


The Advantages of Owning Your Own Business

Owning your own business

There are thousands of articles cautioning would-be self-employed types about the pitfalls of starting their own businesses, but almost nothing about how great owning your own business is.

One article certainly won t right the balance, but for the benefit of those who are thinking of plunging into the self-employed lifestyle and opening small businesses of their own, here is a summary of the best advantages of owning your own business.

When you own your own business:

1) You re the one in control.

Yep, the be your own boss thing is pretty great. I should lie to you and tell you that that means that no one tells you what to do, but people (customers, suppliers, government workers) will still tell you what to do all the time (and on bad days, might even tell you where to go, too).

The good news is that when you own your own business, you don t have to do what they tell you (most of the time). You have choices and you get to make the decisions.

2) You get to build something.

From one kid who loved Legos to another, you know how satisfying that is. Want to become a multi-national exporter? Or create a program that increases numeracy among children? Or turn people s yards into truly beautiful spaces? When you own your own business, you get to shape and flesh out your dreams.

3) You get to help people.

A TD Canada Trust Small Business Survey found that ninety-six percent of small business owners said that being able to help their customers and clients was one of the top benefits of owning a small business.

Small businesses also help people by creating jobs in their communities and being good community citizens.

4) You may have the option of a more flexible lifestyle.

For women, especially, owning your own business can give the lifestyle flexibility necessary to raise a family and still have a successful career.

Mompreneurs are a growing trend; according to the State-Owned Business Report, commissioned by American Express, the number of women-owned businesses has increased by 68% since 1997, with more than 9.1 million women-owned businesses operating in the U.S. in 2014 (Fox News).

But it s not just young(ish) women who can benefit from this advantage to owning your own business; people who are close to retirement or already retired may find owning their own businesses gives them both the chance to keep their hands in and to do something satisfying. (See The Best Business Opportunities for Retirees if you re of this age and want to get started.)

5) You might change the world.

You certainly don t have to think back very far historically to come up with the name of a business owner whose enterprise has changed the world. Mark Zuckerberg anyone? Bill Gates? And your business doesn t have to become the next Facebook or Microsoft to be the agent of powerful change. Ten years ago, for instance, Torben Vestergaard Frandsen came up with the idea of the LifeStraw, a personal, low-cost water purification tool that is being used to provide safe drinking water to millions of people.

So okay, changing the world is a pretty ambitious target, but changing just a piece of it for the better is still a worthwhile effort that can be deeply satisfying.

6) You might make more money.

Some businesses make truckloads full of money. Some don t. Most successful small businesses provide their owners with a living, not a fortune. But the point is, owning your own business opens up the possibility of making more than you could possibly make as an employee.

Working on the assembly line that produces cat clocks will bring you in a certain wage but what if, for example, there s a huge surge of demand for cat clocks and the company s profits soar astronomically? As an employee, you won t share in any of those profits. Businesses generally have much more opportunity to make money than individuals do.

Other Advantages of Owning Your Own Business

The advantages of owning your own business listed above apply to all businesses with the caveat that those who choose to run retail businesses will find it more difficult to create a flexible lifestyle because of the demands of retail trade.


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OWNING A BUSINESS VERSUS OWNING STOCKS, InvestorsFriend, owning your own business.#Owning #your #own #business


OWNING A BUSINESS VERSUS OWNING STOCKS

When you own stocks, you own shares in a business. That is obviously different than owning your own business. But there are some similarities. The table below explores some of the differences between owning your own small business versus owning shares of stock in a publicly traded business.

For most people the choice would be between buying one small business that you are going to own and operate (and perhaps grow into a large business) versus continuing to work for others and doing some investing on the side .

business. In most cases retained profits help the business grow and its share price to increase over the years.

distraction and cause you to bail out at at inopportune times.

How to Make Owning shares more Business Like

Warren Buffett often quotes from chapter 20 of Benjamin Graham s classic book, the Intelligent Investor that.

Investment is most intelligent when it is most businesslike (from the last section of the last chapter)

You should think of your ownership of stocks as what they are; partial ownership of actual businesses. Do not think of yourself as a share holder (which suggests your ownership may be brief and transitory) but rather as a share owner, a part owner of the business. Where reasonably possible visit one or more of the business locations that you partially own. If you own shares

of Wal-Mart or Costco, remember your ownership when you shop there. Look around with satisfaction (or not) at what you see. If you own Tim Hortons, you can take a certain pleasure out of standing in those long line-ups.

If you can, estimate your share of the profit of each company you own shares in. Profit is the share price divided by the P/E ratio.

Try to understand the business model of the companies you own. shares in. What is their competitive position in the market?

Buying a Business

The following is a good web site that lists businesses for sale all across the world. Most of these businesses may not be attractive (at any price). But I think you will see at least some good ones listed. You can search by Country, State, Province and City as well as other search terms.


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The Downside To Owning Your Own Island: NPR, owning your own business.#Owning #your #own

The Downside To Owning Your Own Island

Owning your own business

Billionaire Larry Ellison signed a deal announced this week to buy nearly all of the 141 square-mile Hawaiian island of Lana’i. rickh710/Flickr hide caption

Who hasn’t dreamed of having their own coral-fringed island, lounging on its sandy beach, coconut daiquiri in hand?

So the news this week that Oracle CEO Larry Ellison just purchased almost the entire Hawaiian island of Lana’i (price tag reportedly $500 million) may make most of us more than a little jealous. It’s good to be Larry — or Johnny (Depp) or Richard (Branson) or Celine (Dion), to name a few others in the elite club of island owners.

It’s not difficult to envision the benefits of having your own piece of water-bound paradise. But what about the downside? We talked to Chris Krolow, the CEO of Private Islands, a Toronto-based company that sells 20 to 25 islands a year through its website, newsletter and magazine, Private Islands.

Location, Location, Location

The old adage that real estate is all about location is doubly true when it comes to buying an island, which by definition carries certain obstacles to access. In short, you’re likely going to need a boat. Or perhaps a jet, which means your island had better be big enough to house a runway.

Owning your own business

It’s great to have your own private island like this one in the Caribbean, unless there’s a hurricane bearing down. Christian Wheatley/iStockphoto.com hide caption

It’s great to have your own private island like this one in the Caribbean, unless there’s a hurricane bearing down.

“Most people who want an island are avid boaters,” Krolow says. Ellison, who has competed in numerous offshore sailing races and owns his own elite sailing team, certainly qualifies. But even the most ardent boater wants relatively easy access to their island idyll.

Krolow recalls showing one couple an island in the Bahamas recently. “We spent 13 hours getting to it by cigarette boat, and it was sort of obvious that the husband and wife thought that was too much,” he says.

Then there was that $28,000 steal that sold not long ago in Nova Scotia — a very remote part of Nova Scotia.

“If your island is near an area that is supersaturated or superdeveloped, like parts of ‘cottage country’ near Toronto, chances are the islands are going to go for a premium,” Krolow says. “The opposite is true in Nova Scotia, where locals would never buy an island — they don’t want to deal with the hassles of getting there, the weather and the fog.”

Weather can be an obvious problem. Paradise can seem anything but, if there’s a hurricane or tropical storm with damaging winds and dangerous squalls bearing down.

Islands typically have their own ecosystems, and in many locations, you’ll need an environmental impact study before you can even begin to think about development.

In the Bahamas, where Private Islands does a lot of business, that’s likely to cost a cool $50,000 or so, Krolow says. And in Ontario, any island you buy has to be a minimum of 1 acre in area or you won’t get a permit to build on it.

There’s also the possibility that someone else will claim it’s their island, not yours.

“Every once in a while, there may be someone contesting a deed on the basis of squatter rights,” Krolow says. “It’s happened in the past in Central America, and that’s caused the deal to fall through.”

And what if someone demands to use the beach on your island?

A couple who bought Dobbins Island in the mouth of Maryland’s Magothy River in 2003 found themselves embroiled in a years-long battle with boaters and environmentalists over public access and development on the 7-acre island. The legal fight still isn’t over.

What About Indoor Plumbing?

To avoid these environmental and land-use restrictions, many island shoppers look for the sweet spot between developed and undeveloped, Krolow says. But they could be in for a rude awakening when it comes to some of the costs and concerns involved with development.

“The most sought-after islands are the ones that have some development, but it’s not necessarily reflected in the price because it’s dilapidated or whatnot,” he says. “That’s because you can usually replace whatever was there without too many restrictions, and that can save a lot of time and money.”

You might get lucky and have a good freshwater source of water on your island, but getting power from the mainland is “a big, big bonus,” Krolow says. Otherwise, you’ve got to generate it yourself.

And hauling a generator, not to mention other building materials should you want to build anything on your island, isn’t easy or cheap.

So an island that’s already developed can be good, but you’d better like what the previous owner did with it.

Krolow cites one particular island in the Bahamas with an asking price of $10 million.

“It had its own runway, a series of buildings, sandy beaches and even power from the mainland,” he says. “But it stayed on the market for a very long time and, in my opinion, sold for way under price because there wasn’t a lot of ‘vision’ left.”

That’s because buying an island is something of a mini-exercise in megalomania — many owners want to make their own kingdom, not one inherited from someone else. Of course, once you’ve created your island empire, the flip-flop is on the other foot once you want to sell.

Perhaps more than any other type of real estate, an island invites the owner to “make their mark,” Krolow says. “So islands that are already overdeveloped — something where that vision is already pretty much done — those might stay on the market for longer.”

An island might sound like the perfect place to get away from the stresses of life on the mainland, but too much privacy can be stifling for some people. Celebrities may have a different problem.

Most of us probably wouldn’t have to worry about being stalked on our own private island. Not so if you’re Johnny Depp.

“In this era of Google Earth, an island isn’t the best hiding place,” Krolow says.


The Advantages of Owning Your Own Business, owning your own business.#Owning #your #own #business


The Advantages of Owning Your Own Business

Owning your own business

There are thousands of articles cautioning would-be self-employed types about the pitfalls of starting their own businesses, but almost nothing about how great owning your own business is.

One article certainly won t right the balance, but for the benefit of those who are thinking of plunging into the self-employed lifestyle and opening small businesses of their own, here is a summary of the best advantages of owning your own business.

When you own your own business:

1) You re the one in control.

Yep, the be your own boss thing is pretty great. I should lie to you and tell you that that means that no one tells you what to do, but people (customers, suppliers, government workers) will still tell you what to do all the time (and on bad days, might even tell you where to go, too).

The good news is that when you own your own business, you don t have to do what they tell you (most of the time). You have choices and you get to make the decisions.

2) You get to build something.

From one kid who loved Legos to another, you know how satisfying that is. Want to become a multi-national exporter? Or create a program that increases numeracy among children? Or turn people s yards into truly beautiful spaces? When you own your own business, you get to shape and flesh out your dreams.

3) You get to help people.

A TD Canada Trust Small Business Survey found that ninety-six percent of small business owners said that being able to help their customers and clients was one of the top benefits of owning a small business.

Small businesses also help people by creating jobs in their communities and being good community citizens.

4) You may have the option of a more flexible lifestyle.

For women, especially, owning your own business can give the lifestyle flexibility necessary to raise a family and still have a successful career.

Mompreneurs are a growing trend; according to the State-Owned Business Report, commissioned by American Express, the number of women-owned businesses has increased by 68% since 1997, with more than 9.1 million women-owned businesses operating in the U.S. in 2014 (Fox News).

But it s not just young(ish) women who can benefit from this advantage to owning your own business; people who are close to retirement or already retired may find owning their own businesses gives them both the chance to keep their hands in and to do something satisfying. (See The Best Business Opportunities for Retirees if you re of this age and want to get started.)

5) You might change the world.

You certainly don t have to think back very far historically to come up with the name of a business owner whose enterprise has changed the world. Mark Zuckerberg anyone? Bill Gates? And your business doesn t have to become the next Facebook or Microsoft to be the agent of powerful change. Ten years ago, for instance, Torben Vestergaard Frandsen came up with the idea of the LifeStraw, a personal, low-cost water purification tool that is being used to provide safe drinking water to millions of people.

So okay, changing the world is a pretty ambitious target, but changing just a piece of it for the better is still a worthwhile effort that can be deeply satisfying.

6) You might make more money.

Some businesses make truckloads full of money. Some don t. Most successful small businesses provide their owners with a living, not a fortune. But the point is, owning your own business opens up the possibility of making more than you could possibly make as an employee.

Working on the assembly line that produces cat clocks will bring you in a certain wage but what if, for example, there s a huge surge of demand for cat clocks and the company s profits soar astronomically? As an employee, you won t share in any of those profits. Businesses generally have much more opportunity to make money than individuals do.

Other Advantages of Owning Your Own Business

The advantages of owning your own business listed above apply to all businesses with the caveat that those who choose to run retail businesses will find it more difficult to create a flexible lifestyle because of the demands of retail trade.


Tags : , , ,

OWNING A BUSINESS VERSUS OWNING STOCKS, InvestorsFriend, owning your own business.#Owning #your #own #business


OWNING A BUSINESS VERSUS OWNING STOCKS

When you own stocks, you own shares in a business. That is obviously different than owning your own business. But there are some similarities. The table below explores some of the differences between owning your own small business versus owning shares of stock in a publicly traded business.

For most people the choice would be between buying one small business that you are going to own and operate (and perhaps grow into a large business) versus continuing to work for others and doing some investing on the side .

business. In most cases retained profits help the business grow and its share price to increase over the years.

distraction and cause you to bail out at at inopportune times.

How to Make Owning shares more Business Like

Warren Buffett often quotes from chapter 20 of Benjamin Graham s classic book, the Intelligent Investor that.

Investment is most intelligent when it is most businesslike (from the last section of the last chapter)

You should think of your ownership of stocks as what they are; partial ownership of actual businesses. Do not think of yourself as a share holder (which suggests your ownership may be brief and transitory) but rather as a share owner, a part owner of the business. Where reasonably possible visit one or more of the business locations that you partially own. If you own shares

of Wal-Mart or Costco, remember your ownership when you shop there. Look around with satisfaction (or not) at what you see. If you own Tim Hortons, you can take a certain pleasure out of standing in those long line-ups.

If you can, estimate your share of the profit of each company you own shares in. Profit is the share price divided by the P/E ratio.

Try to understand the business model of the companies you own. shares in. What is their competitive position in the market?

Buying a Business

The following is a good web site that lists businesses for sale all across the world. Most of these businesses may not be attractive (at any price). But I think you will see at least some good ones listed. You can search by Country, State, Province and City as well as other search terms.


Tags : , , ,

Fancy owning your own private woods in the Peak District? Now s your chance

Fancy owning your own private woods in the Peak District? Now’s your chance

Six plots of forest – totalling 16 acres – are being sold by the National Park from £20,000

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Fancy owning your own private wood in the picturesque Peak District?

Six plots of forest – totalling 16 acres -are being sold by the National Park from 20,000.

But don’t start planning your perfect rural retreat or out-of-bounds business – there are strict rules governing the use of the land which ban almost everything apart from enjoying a quiet walk.

The restrictions stop new owners from developing the land or carrying out certain activities including; paintballing, quadbiking or even camping there once you’ve bought it.

This means no paintballing, quadbiking or even camping there once you’ve bought it.

According to the advert, ‘The woodland is to be kept as woodland in perpetuity and is to be managed primarily for biodiversity.’

This is to protect the natural habitat of the Park’s numerous species of animals.

Owning your own business

Read More

The plots are among acres of land salvaged by the National Park and includes former quarries and rubbish dumps which have now been restored to woodland.

The National Park has already sold off 14 plots to private owners in a bid to reduce their costs.

In a statement released by the National Park, it says: “The woodland sales allow us to focus on the protection, improvement and maintenance of our other holdings and any woodlands sold will still be regulated by the Forestry Commission in accordance with the UK Forestry Standard.”

The Peak District was given National Park status in 1951 and currently owns 100 woodlands, which it has acquired over more than 60 years.

However just five per cent of the Peak District is owned by the National Park. The remaining 95 pc is owned privately.

Prices for Flagg Moor Wood, Jackson’s Plantation and Cotesfield Plantation start at 20,000.

No price has been provided for the other parcels of woodland, with the advert asking for offers.

Read More

The six woods up for sale

Barmoor North Wood, north of Doveholes, 0.67 acres

Owning your own business

Barmoor South Wood, north of Doveholes, 0.59 acres

Owning your own business

Cotesfield Plantation, north of Parsley Hay, 5.16 acres

Owning your own business

Crossroads Wood, Blackwell/Taddington, 0.12 acres

Jackson’s Plantation, Peak Forest, 4.89 acres

Owning your own business

Flagg Moor Wood, Pomeroy, near Flagg, 4.77 acres

Owning your own business

For more details on the woodland available, click here for further details.


Advantages – Disadvantages of Owning Your Own Company, owning your own business.#Owning #your #own

Advantages & Disadvantages of Owning Your Own Company

Owning your own business

Entrepreneurs are responsible for all financial aspects of their business.

Related Articles

  • 1 [Tax Advantages] | Tax Advantages and Disadvantages When Owning Your Own Business
  • 2 [Advantages] | Advantages Disadvantages of Starting a Business From Scratch
  • 3 [Business Ownership] | Advantages Disadvantages of Business Ownership
  • 4 [New Business] | The Pros Cons of Starting a New Business

Many people dream of owning a business and see it as a way to control their own destiny. Starting a business is an exciting venture that offers many benefits. However, you should also analyze what it takes to run a successful business. Although no special skills are required, running a successful company takes determination, patience and an understanding of business principles. Not fully understanding the advantages and disadvantages of owning your own company may hinder your path toward successful entrepreneurship.

Salary Potential

When you work for an employer, you know your annual salary and little opportunity is available to earn more money on your job. Starting your own business gives you the potential to earn a high salary. Productivity, pricing and marketing plans are all under your control, and the income you earn relates to those activities. Although earning a high salary is not a guarantee, the potential to earn a lucrative income is available.

Do What You Enjoy

Owning a company gives you the opportunity to work in a field you enjoy. Working in an industry you re passionate about helps you better handle down times in your business. Owning your own business allows you to create and contribute, which gives you personal satisfaction. Most entrepreneurs working in a field they enjoy also bring their expertise, which allows them to offer innovative products and services to customers.

Business Control

Entrepreneurship gives you the control over your business. If you operate a sole proprietorship, you make the final management decisions regarding your company. Some individuals thrive in situations where they experience independence. Owning a business gives you the power to control how active you are in the business. You can participate in every step of the decision-making process, or you can hire competent people to make decisions in the best interest of the company.

Demanding Work Schedule

Many business owners work long and erratic hours, and some people view this as a disadvantage. Work schedules are the most grueling for new business owners, because they usually handle time-consuming administrative tasks. The responsibility of running the business ultimately rests upon your shoulders, so you may experience days when you need to stay in the office until the task is complete.

Financial Risks

A disadvantage of owning a business is that you must incur financial risk. Whether you used your own savings or borrowed money for startup costs, the money invested in your company is at risk. Some companies go out of business and cause business owners to lose their initial investment or default on business loans. Even with a solid business plan, economic volatility can cause your business to lose money and eventually close for good.

Liability

Depending on your business structure, creditors and customers may possess the ability to seek your personal assets if you default on your business obligations. If a customer or vendor believes you acted in error, he may file a lawsuit against you. To protect your company’s assets, you can seek liability insurance for your business, but some new business owners may find it difficult to afford insurance premiums.


Expert Interview with Noah Wieder on the benefits of owning an ATM #business #grant


#atm business

#

Expert Interview with Noah Wieder on the benefits of owning an ATM

Cash is still king in plenty of places, which is why ATMs are more popular than ever, says Noah C. Wieder, CEO of ATM Depot .

ATM users prefer to pay with cash to avoid credit card debt and interest charges, and merchants also prefer cash users; so having an ATM nearby helps them lower their credit card processing fees.

“So it’s a win-win for merchants who either own and operate their own ATM or who contract with an IAD to operate one for them,” he adds.

Noah recently checked in to tell us about the benefits of investing in an ATM machine and give us a crash course on becoming an independent ATM deployer. Here’s what he had to say:

Tell us the story behind ATM Depot. What’s on your site? Who should be reading it?

ATM Depot caters to individuals, investors, entrepreneurs and independent ATM deployers (IAD’s) looking for a flexible, friendly, experienced and honest ATM company. We believe in transparency in an industry where we see a lot of secrets and scams .

Who can invest in an ATM machine?

Literally, anyone can invest in an ATM. Retailers; commercial landlords; city governments looking to increase revenues at parks, museums and other public places; entrepreneurs; and anyone who can count money.

The cost to enter the ATM business is amazingly low. Many ATM models can be purchased for under $2,500 including shipping. The cost of not working with an experienced ATM company is the expensive part. The cost of learning from mistakes can get expensive.

A better question is who can operate an ATM. Most investors and entrepreneurs can invest or operate an ATM business unless they have a felony criminal record or have been involved in any type of financial crime.

What are the benefits of investing in and managing ATM machines?

It’s very similar to most passive income business models. Benefits include:

  • Working your own hours
  • Excellent annual returns (even on locations that only have three or four users per day)
  • Minimal investment, relatively low risk
  • Getting to meet and work with great people
  • No more trading time for money
  • Great ROI

What considerations should someone who’s interested in investing in an ATM machine make before purchasing one?

They should read everything they can about the business. A couple of links to some of the papers I’ve authored:

Of course, I recommend my book, The Amazing Money Machine, where I explain the entire business from start to finish. ATMdepot.com also offers serious investors a private members’ area where they can get proprietary information, forms and videos that are reserved for our IADs.

Get a handle on your cash with Mint.com .

What are the disadvantages and/or risks associated with these machines?

As with any business, the biggest risk is loss of capital; however, with the ATM business that risk is minimized since the biggest investment is the ATM hardware, which is an asset that can always be moved to a new location.

Another risk is vandalism and/or theft, but inexpensive insurance is available; and in my 20+ years in the business we’ve experienced very few of those issues (but they can occur).

Machines do need to be serviced and cleaned regularly to make sure they remain in the best working order. While not usually an issue, there can be cash jams, printer jams, communication problems or electrical surges that can bring the ATM offline (a good surge protector is key).

ATMDepot.com offers toll free 24/7 tech support and most issues can be resolved over the phone, but if an ATM investor owner-operator needs more help, a field service call can be arranged quickly.

Where are the best locations for ATM machines?

This is a big question and also varies by geography.

While everyone knows that convenience stores, casinos, supermarkets and adult retailers are great locations, they are difficult to obtain.

The best locations are high traffic places where people need cash, like stores that don’t accept credit cards or where a bank might be several blocks away.

My book has an entire in-depth chapter dedicated to this topic. A good ATM company can help their IADs evaluate locations using a variety of tools including Google Maps (satellite view) to help access the area, Zillow or SearchBug Tools to hone in on certain neighborhoods and geographic characteristics to further evaluate the potential of a location.

Where do we go to purchase an ATM machine?

ATMs can be purchased from several different ATM companies; it’s important to compare features and models carefully. New laws and compliance requirements are forcing existing ATM operators to upgrade machines, and some non-compliant machines that should be recycled are showing up for sale on websites. Some machines are non-ADA compliant, some ATMs have old software and hardware that cannot be upgraded; so it’s important to purchase ATM machines from reputable firms with the most updated information on what ATM models are outdated.

I wrote an eBay guide about the five questions to ask before buying an ATM since I saw so many scams on eBay for used machines.

How are the machines stocked? Who handles stocking them?

There are several ways to load an ATM. It’s as easy as loading a napkin holder.

The person loading the ATM is called the vaulter. Vaulters could be the ATM owner, a professional independent cash vaulter, an armored car service, or a trusted third party. The important thing to remember is that if the vaulter is not consistent and lets the machine run out of cash, then the ATM owner and the store lose money and customers get upset. So vaulting is a very important component of the business.

The most costly vaulter is an armored car and a cash management service, but it’s also the most reliable. So for a very busy machine, this can be beneficial; but the ATM also requires a significant lock upgrade for armored car auditing.

The additional lock can increase the cost of the ATM by $600 to $650, which can be significant on a $2,500 machine. The least expensive solution is to have the location be the vaulter and share the revenue or pay a set per transaction fee.

What types of machine models are available?

We currently like the Hyosung and Genmega ATMs as they are fairly priced and very reliable. There are many different models, many of which suited to different applications. It’s best to work with someone from our office once a location is selected.

Recommendations can then be made based on available space, traffic estimates, cash needs, visibility, and indoor/outdoor or freestanding/through-the-wall models.

There are many questions that should be asked and answered before a specific machine is ordered by an investor. Preservation of capital, ROI, and profit potential should all be considered.


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Expert Interview with Noah Wieder on the benefits of owning an ATM #most #successful

#atm business

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Expert Interview with Noah Wieder on the benefits of owning an ATM

Cash is still king in plenty of places, which is why ATMs are more popular than ever, says Noah C. Wieder, CEO of ATM Depot .

ATM users prefer to pay with cash to avoid credit card debt and interest charges, and merchants also prefer cash users; so having an ATM nearby helps them lower their credit card processing fees.

“So it’s a win-win for merchants who either own and operate their own ATM or who contract with an IAD to operate one for them,” he adds.

Noah recently checked in to tell us about the benefits of investing in an ATM machine and give us a crash course on becoming an independent ATM deployer. Here’s what he had to say:

Tell us the story behind ATM Depot. What’s on your site? Who should be reading it?

ATM Depot caters to individuals, investors, entrepreneurs and independent ATM deployers (IAD’s) looking for a flexible, friendly, experienced and honest ATM company. We believe in transparency in an industry where we see a lot of secrets and scams .

Who can invest in an ATM machine?

Literally, anyone can invest in an ATM. Retailers; commercial landlords; city governments looking to increase revenues at parks, museums and other public places; entrepreneurs; and anyone who can count money.

The cost to enter the ATM business is amazingly low. Many ATM models can be purchased for under $2,500 including shipping. The cost of not working with an experienced ATM company is the expensive part. The cost of learning from mistakes can get expensive.

A better question is who can operate an ATM. Most investors and entrepreneurs can invest or operate an ATM business unless they have a felony criminal record or have been involved in any type of financial crime.

What are the benefits of investing in and managing ATM machines?

It’s very similar to most passive income business models. Benefits include:

  • Working your own hours
  • Excellent annual returns (even on locations that only have three or four users per day)
  • Minimal investment, relatively low risk
  • Getting to meet and work with great people
  • No more trading time for money
  • Great ROI

What considerations should someone who’s interested in investing in an ATM machine make before purchasing one?

They should read everything they can about the business. A couple of links to some of the papers I’ve authored:

Of course, I recommend my book, The Amazing Money Machine, where I explain the entire business from start to finish. ATMdepot.com also offers serious investors a private members’ area where they can get proprietary information, forms and videos that are reserved for our IADs.

Get a handle on your cash with Mint.com .

What are the disadvantages and/or risks associated with these machines?

As with any business, the biggest risk is loss of capital; however, with the ATM business that risk is minimized since the biggest investment is the ATM hardware, which is an asset that can always be moved to a new location.

Another risk is vandalism and/or theft, but inexpensive insurance is available; and in my 20+ years in the business we’ve experienced very few of those issues (but they can occur).

Machines do need to be serviced and cleaned regularly to make sure they remain in the best working order. While not usually an issue, there can be cash jams, printer jams, communication problems or electrical surges that can bring the ATM offline (a good surge protector is key).

ATMDepot.com offers toll free 24/7 tech support and most issues can be resolved over the phone, but if an ATM investor owner-operator needs more help, a field service call can be arranged quickly.

Where are the best locations for ATM machines?

This is a big question and also varies by geography.

While everyone knows that convenience stores, casinos, supermarkets and adult retailers are great locations, they are difficult to obtain.

The best locations are high traffic places where people need cash, like stores that don’t accept credit cards or where a bank might be several blocks away.

My book has an entire in-depth chapter dedicated to this topic. A good ATM company can help their IADs evaluate locations using a variety of tools including Google Maps (satellite view) to help access the area, Zillow or SearchBug Tools to hone in on certain neighborhoods and geographic characteristics to further evaluate the potential of a location.

Where do we go to purchase an ATM machine?

ATMs can be purchased from several different ATM companies; it’s important to compare features and models carefully. New laws and compliance requirements are forcing existing ATM operators to upgrade machines, and some non-compliant machines that should be recycled are showing up for sale on websites. Some machines are non-ADA compliant, some ATMs have old software and hardware that cannot be upgraded; so it’s important to purchase ATM machines from reputable firms with the most updated information on what ATM models are outdated.

I wrote an eBay guide about the five questions to ask before buying an ATM since I saw so many scams on eBay for used machines.

How are the machines stocked? Who handles stocking them?

There are several ways to load an ATM. It’s as easy as loading a napkin holder.

The person loading the ATM is called the vaulter. Vaulters could be the ATM owner, a professional independent cash vaulter, an armored car service, or a trusted third party. The important thing to remember is that if the vaulter is not consistent and lets the machine run out of cash, then the ATM owner and the store lose money and customers get upset. So vaulting is a very important component of the business.

The most costly vaulter is an armored car and a cash management service, but it’s also the most reliable. So for a very busy machine, this can be beneficial; but the ATM also requires a significant lock upgrade for armored car auditing.

The additional lock can increase the cost of the ATM by $600 to $650, which can be significant on a $2,500 machine. The least expensive solution is to have the location be the vaulter and share the revenue or pay a set per transaction fee.

What types of machine models are available?

We currently like the Hyosung and Genmega ATMs as they are fairly priced and very reliable. There are many different models, many of which suited to different applications. It’s best to work with someone from our office once a location is selected.

Recommendations can then be made based on available space, traffic estimates, cash needs, visibility, and indoor/outdoor or freestanding/through-the-wall models.

There are many questions that should be asked and answered before a specific machine is ordered by an investor. Preservation of capital, ROI, and profit potential should all be considered.