How To Get An ATM Installed in Your Dispensary
Having an ATM at your dispensary makes sense
Installing an ATM in your dispensary provides a strategic advantage for your business. It reduces friction for your customers, helps you capture sales you might otherwise lose, and is a passive revenue stream for your business. Even though many states, such as Minnesota, have legalized cannabis (medical and/or recreational), many dispensaries still operate cash-only or largely cash-based because of federal banking hurdles.
- Credit-card and traditional debit-card processing is often unavailable or very expensive for cannabis sales because banks and card networks are federally regulated and not allowed in dispensaries.
- Having an on-site ATM helps customers access cash and reduces the need to leave your business and find a nearby ATM. When customers leave to find an ATM, sometimes they do not return.
- ATM provides an opportunity to increase average order size. If customers do not bring enough cash and want to purchase add on items, an onsite ATM will encourage them to make those purchases.
- Many ATM providers, including Lieberman Companies, offer Free ATM Placement (machine installation, cash loading, ongoing maintenance) and share a portion of the surcharge revenue with you. There is a lot of talk about “passive income”, but ATM commissions are a legitimate opportunity.
Partner with a Cannabis-Friendly ATM Company
We know the market well, considering we have operated in dispensaries across the US for over 5 years.
Considering all the unique and complex issues surrounding dispensaries and the federal regulations, it is imperative to find an experienced ATM provider. Lieberman Companies currently works with over 70 cannabis dispensaries across the United States. We know the ins and outs of the business. Our ATM business is backed by a designated service team that monitors ATMs remotely. The goal is to fix any issues before our customers even know there was an issue.
Can I Own my Own ATM?
Federal banking laws prohibit dispensary owners from owning an ATM at their site or using cash from the dispensary to load the ATM – No common ownership is allowed. That is why most dispensaries outsource installation, cash-loading, and service to a third party to administer the ATM.
Can I Make Money on my ATM?
Yes – Lieberman Companies shares the surcharge fee with the dispensary owner. The shared percentage is determined by the number of ATM transactions per month. It is a nice supplemental source of revenue for dispensaries. We pay commissions monthly via ACH: no waiting for a check to be cut or post office delivery.
For more information on how to get an ATM placed for free at your cannabis dispensary, call 925-887-5303, email dan.lieberman@liebermancompanies.com or simply fill out the form below to get started.