Are you looking to get an ATM for your cannabis dispensary?
Customers enjoy the convenience and security of an ATM right on-site at the dispensary. Many cannabis purchasers are discreet and do not want to make an additional trip to get cash somewhere else. Additionally, ATMs are a better choice than cashless options since some federal regulations won’t allow cashless transactions in the cannabis business. Lieberman Companies offers two types of ATM options for dispensaries:
Owning An ATM
Laws are very specific and state that cannabis dispensaries cannot own their ATM. However, there are ways to generate revenue from an ATM machine through ownership of the ATM in a separate entity.
Don’ts:
- ATM cannot be filled from the cash taken in by the dispensary. There needs to be separate bank accounts and a separate source of funds to load the machine.
- You cannot own an ATM in a dispensary using the same LLC or Corporation as the dispensary.
Do’s:
- Set up a unique bank account for the ATM.
- Organize a new LLC or Corporation so you can own and manage the ATM separately.
If you have an alternate business and bank account set up, you can operate the ATM yourself. This would allow you to collect 100% of the surcharge fee which is an additional revenue stream. The fee for each ATM cash withdrawal can add up fast!
Free ATM Placement Program
Lieberman Companies manages ATM machines at hundreds of dispensaries across the United States. If you take advantage of our Free ATM Placement Program, there are no upfront costs to place a machine in your cannabis dispensary. You just need to provide the space and power for the ATM. Cash for the machine is filled by us, not you, and we handle all repairs and maintenance. Our Free ATM Placement Program is available to qualified locations based on volume and size.
How does the Free ATM Placement Program work?
- Contact Lieberman Companies at 952-887-5303.
- Provide location name and address.
- Lieberman will get a quote from our network of certified providers.
- Dispensary and Lieberman agree on surcharge, max withdrawal, and commission.
- ATM is installed.
Our Free ATM Placement Program offers the benefits of ATM ownership without the headaches of loading cash, dealing with repairs, and having enough cash to keep the ATM full. The average transaction in a dispensary is 25-30% more than a typical ATM location which is why having enough cash is important.
On-site ATM Benefits
Studies have shown that 80% of the cash withdrawn from an ATM is spent at that site. Having a cannabis dispensary ATM will increase sales and average order size at no expense or risk to you (the owner). Additionally, customers enjoy the convenience and security of an ATM at the dispensary vs. going down the street to use an ATM at another retailer. Many cannabis purchasers want to be discreet. People do not want to make two trips to the dispensary if they need to go elsewhere to obtain cash.
Lieberman ATM Services
Lieberman Companies is an ATM distributor and certified ISO processor. We offer secure transactions, competitive pricing on both new and used ATMs, and unmatched technical support for your ATM. We also provide ATM cash vaulting services. We have longevity in the ATM market and operate machines throughout the United States.
Lieberman is a 4th generation family-owned business celebrating over 118 years. We pride ourselves on honesty, integrity and giving back to the communities we serve.
For more information on buying an ATM machine or our Free ATM Placement Program, give us a call today at 925-887-5303 or simply fill out the form below to get started.