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ATM Franchise - ACFN

I've been reviewing ACFN ATM franchise and except for the franchise fee (25K), the business model looks solid enough to get me to take a further peek. My main goal in my franchise search is to find a concept that would generate decent residual income and still do it part-time. From my discussions with them, i can still continue my day-job and squeeze my ATM visit during the weekends. However, based on my initial number crunching, i would break-even with my franchise fee if i go with 5 ATM locations.

What are your thoughts? Any issues in the future?

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Don't do it

It will take you about 8 years to make the 25,000 franchise fee back and depending on how many machines you get, each one will take you about 3-4 years to break even, so after 12 years, you make money but then your contract is up. Not to mention they have the worst communication process internally.

Not True At All

I find it very easy to pick up a phone and call any department in the company. You can try yourself - call the main the office line and ask for any department - see how quickly your call is answered.
Emails are answered within few hours and I can easily make my drops from their app. I personally know many franchisees who are making good money doing this part time.

ACFN ATM Franchise

We're going on our third year with ACFN. Many of the negative comments appear to be from amateur businessmen/women who may not have the best method of researching the opportunity at the get-go. ALL franchisee are subject to the dictates of the franchisor. ACFN is like any other business: they need to make money/profit. The answer's from past franchisee's should focus on the dollars and cents of the experience rather than bitch at how much the franchisor is making, however valid or greedy that may appear. The reason one goes the franchisee route is to take the gamble out going it alone, having the bugs worked-out beforehand. If you feel the fees or personnel are overrated or shouldn't be part of the business, back away. Personally, we feel we got what was advertised. Tho we are disappointed our revenue stream is not larger (merely a numbers game: big locations = bigger revenues - in a very competitive field), it's a tidy income, in particular for the hours/$ invested, and our long term goals will be met. ACFN works hard to be partners with their franchisee's. There's always going to be a number for whom the opportunity didn't work.

Former franchisee

I would not recommend them they charge you extra for everything!!! they start with 25,000 then they add an extra 1,000 dollars for each ATM when you get your first location and is going to be more than 10 months to find one get ready for more charges.
the have locations or routes witch they buy from other people they add a few thousand dollars of income to the stubs to justify their fee. do a search on a route from Forth Worth TX the same description in the details but the person selling put almost 8,000 less income acfn bought it and suddenly the route made more money! the guy was giving 3 spare atms in his description and acfn was selling the atms!!

Your forgot to mention very important point

The Company guarantees the location for NEXT 10 YEARS. Meaning if location don't perform they replace it with another location. It cost company money (Sales, Marketing, Technology, Tech Support, Operations) each time new location is secured. So, even if they do charge couple hundred bucks for each location that it is still worth it. You will spend more money in phone bill by doing it yourself.

I think I was the one who

I think I was the one who found those locations. I was in the Waco area. I asked if I could add them to my route. But they were already sold to someone else. Probably you. I found the locations on a portfolio website. But they gave to a closer franchisee. They charged me for an EMV kit that doesn't exist. It was for an older model Triton that was discontinued. They refused to refund.

Need Info

Thanks everyone, specially Jetman for the informations giving above. I am 100% interested in this business, please I need to have more info abt doing things by myself to avoid crap fees, and I want to know How much at least I can make monthly with 1 ATM please answer me at jpernst73@yahoo.com Thanks a million.

Much Appreciated

This forum was so helpful. Thank you all for your feedback and honest opinions!

THE VP of ACFN

Your skin itches after meeting him (Avi Blankroth). He wear a nice suit, but in the end it is like putting lipstick on a pig. The Owner Jeff seems more sincere but at the end of the day, they are all family and stick together. Jeff is too busy driving his Bentley to worry about any of this.

Former franchisee

Many reasons I wish I never did business with them. #1 they make you buy the ATM's through them at a $1000 mark up per machine. #2 they charge you a "communication fee" per surcharge transaction that is really free and doesn't incur any cost. #3 should you get your own locations on your own, they own that account even when you stop doing business with them. #4 there is a backend interchange fee that is made off each transaction, they have you waive any rights to this fee and they keep it. #5 VP executive Avi Blankroth comes across like a used car salesman and doesn't seem genuine. #6 they charge you a "per ATN accounting fee" to mail all your accounts a monthly statement and check. Something you can do on your won. #7 they say they will get you "qualified" accounts, but be careful that it is a location with high foot traffic, as that is the best way to guarantee that your SATM will make any money. They are happy to get you a subpar foot traffic location because they will make money off the account even if you don't.

If you really want to go into the ATM business, get the machines yourself, save money, earn your own interchange fee, save all the BS fees they charge you, and hit the road and get your own accounts. I got many of my own accounts myself when I was a franchisee.

Former franchisee

Many reasons I wish I never did business with them. #1 they make you buy the ATM's through them at a $1000 mark up per machine. #2 they charge you a "communication fee" per surcharge transaction that is really free and doesn't incur any cost. #3 should you get your own locations on your own, they own that account even when you stop doing business with them. #4 there is a backend interchange fee that is made off each transaction, they have you waive any rights to this fee and they keep it. #5 VP executive Avi Blankroth comes across like a used car salesman and doesn't seem genuine. #6 they charge you a "per ATN accounting fee" to mail all your accounts a monthly statement and check. Something you can do on your won. #7 they say they will get you "qualified" accounts, but be careful that it is a location with high foot traffic, as that is the best way to guarantee that your SATM will make any money. They are happy to get you a subpar foot traffic location because they will make money off the account even if you don't.

If you really want to go into the ATM business, get the machines yourself, save money, earn your own interchange fee, save all the BS fees they charge you, and hit the road and get your own accounts. I got many of my own accounts myself when I was a franchisee.

ATM machine to buy and sell bitcoin using cash

"My Bitcoin is a safety PIN system so you can trusty to me"

Possible ROI?

Great info here. I live in the LA area and see ATMs every whee. Is there a real opportunity here, and if so, what's an avg kind of ROI to expect? thanks

beware of ACFN

ACFN do keep a type of fee for every transaction as a franchise fee but they don't disclose it. This is a type of return network fee. So technically when you would earn nothing to $50 per month per location due to your low front end fee, they can earn more than you do and they would care less as you pay for ATM and you service the atm with your own cash and associated risk. You have to be very careful about them as most things they say are fully exaggerated and some are not true at all. I would suggest start your own. This is a very simple business.

Why ATMs?

In researching franchise businesses I came across this site. The general concept sounds interesting, but in this day of using credit cards for everything, is there really a need for ATMs? I used to use them regularly but almost never do anymore. Granted, I haven't thought through this very much, but that's my initial reaction. Still, if someone can point out the need, I would consider pursuing it further – but probably not through ACFN, whom I've never heard of before today. Thanks in advance.

ACFN Franchise

Can anyone give me more information on how to be an ATM operator and skip going through ACFN. The feedback I see here makes sense and is quite helpful, but where else can I look into
and ATM business?

Thank you!

ATM info

Give me a call if your interested I have been in the ATM Buisness for many years and can get you started and show you the in and outs. 956-624-2463 Curtis

Responded to your comment,

Responded to your comment, but your mailbox is full. I am selling my telecom business and investigating other areas for income. The AFCN franchise is one of those. I'd very much like to talk with you about it. Give me a good time for you when I can call for more information ...

Granville_Bean's picture

why a franchise?

Why do people feel the need to pay for a franchise to do this?

How to operate my own ATM Business

Hi,
I like this idea and hope that anybody here can assist me in opening up my own ATM machine business in my home country in Malaysia.

ATM franchising

I would like to buy ATM franchising in NSW

I like the concept and business potential

This is a fairly simply concept. It is my understanding that ACFN do not charge any kind of franchise fee. There is one time fee of $25K but this includes marketing and operational support for 10 years. That is about $200/Month. Most other franchise charge more than $200 just in royalties.

Granville_Bean's picture

No matter what you call it

It's still $25k up front.

This is very informative

This is very informative thanks jetman

Been researching them and am amazed....

I have my own ATM course that I sell for $297. Teaches you the nuts and bolts of the ATM business. No smoke, no mirrors, no $25k PLUS franchise fee.

During my research I, of course, came across ACFN and I was amazed that people actually pay them $25k to have an ACFN franchise. But hey, to each his own.

Sure, if folks buy my course I'm not finding locations for you, but the reality is, you don't know if ACFN's locations that they got you (that you paid $25k for) are going to worth it now do you?

Personally, I'd fork over 300 bucks vs. 25k to find out, but that's me.

Carey
ATMBusinessBlueprint.com

ATM business without ACFN fees

Hi all,

I am also interested in the ATM business course and want to avoid the 25K fees from ACFN and the freedom to grow my ATM system without restrictions. My email is mixxalot@yahoo.com

Questions for the experienced ATM business entrepreneurs

1. How viable is an ATM business today and in the future with the frequency of credit/debit cards being used almost everyplace most of the time instead of cash?

2. What method works best to acquire the ATM machines, business setup, and financing?

I am glad that I found this awesome website BlueMauMau! It saved me from financial disaster. I read about some other franchise horror stories like Dickey's BBQ Pit.

-Scott
mixxalot@yahoo.com

ATM course

I will like to take your course. Thank you.
sjlarry@bop.gov

BS to the guy selling his own program

You do not know anything about this company. I have been a franchisee for over 5 years and am glad I did it. You are on here trying to sell your own crappy program which is most likely nothing that can't be found out on your own. For the franchisee fee you also get the ATM, extensive training at their San Jose location, a marketing department that not only finds locations but also follows up and negotiates the contracts, a tech support group that answers the phone 24 hours a day seven days a week and provides assistance with any ATM problems you may have. If there is a problem that a customer has or a disputed transaction they handle them. There is also an accou8nting department that pays the locations their share of the revenues and send the franchisee a monthly statement and check.
Sure you can go it alone if you want to do all the legwork that they do but it will eat up the franchise fee in no time and the ongoing support you get is priceless. They make their money on backend fees and do not take any of the ATM fees that you and the location will share. I personally have 15 machines in the midwest, most in Missouri and can recommend ACFN as a satisfied franchisee. Also, the amount of money you make is totally dependent on the effort you pout into it as far as hustling locations. I am retired from another job I had for 34 years and my returns are right where I need them to be for my needs.
If you are interested in this business please check it out yourself by calling this company or any other company or person that is in the business but don't rely on the opinion of somebody that is trying to make money off of you.

cost increase

Cary you advertise your business for $297 in this thread on 1/17/2012 and now as of 8/12/13 your system cost has grown to $1000 dollars. Why such a astronomical increase in the same business plan in 1.5 years.

Yep, there was a price increase and this is where it stays.

The price was $297 when I launched the course....but now that I'm getting solid reviews and testimonials and real people, just like you, are proving that my training system really works, well the price is where it belongs and truthfully, $1,000 is too cheap!

I'm launching an even more accelerated course for folks for $7,500 very shortly.

When you figure out your ROI.....it's a no brainer when you actually put your work and due diligence in.

But if folks would still like to start out investing $51k (which gets you 2 ATMs and a $25k franchise fee, plus some other things) well by all means they are entitled to. It's their money, right?

If you don't see the value in a $1,000 training system (no matter how much it was 1 year or 2 years ago) then I think it's safe to agree that it's not for you. No problems there, right?

Hope this helps with your understanding.

Carey
ATMBusinessBlueprint.com

info

hi i would like info please. email me thanks

ATM business

I've been looking into this type of business for awhile now and I've found that I have a strong inclination toward starting my own business even though it will take time for business to pick-up. I have been reading several ebooks on the matter that basically break down the process for you step by step.

Not worth it

The business is only as good as the quality locations they get you. You can go out and get locations yourself and save money. I know people personally who have 20-40 locations that they found on their own and don't have to pay bull shit fees to a Franchisor. They will claim that they have all these corporate deals, but the fact of the matter is, the hotels that are part of the deal DON"T have to use you. Yup, they can stay with their current provider, so basically, these big claims are just smoke and mirrors.

They keep the back end "interchnage" fee, which if you look around for other ATM network providers, they will share the "interchange" with you. They rip you off on the price they charge you for the ATM's they add on over $1200 to the cost price. You can call a company that will provide you with processing and they will sell you the ATM much cheaper. ACFN adds on a .05 cent charge per transaction as a "communication" fee. This is bullshit as the ATM dials out to a toll free number, so there isn't any cost incurred to justify this. They charge you $100 as a "what is this for?" fee per month. They charge you $12 per ATM as an accounting fee. Mind you, the software you use, you can print off the statements yourself and mail them in to the location yourself, you don't need them for this. Thye now charge you a marketing fee!!??!! Ask them when will they have a commercial on TV, or a billboard for the franchisees to benefit from, for the money you will be contributing to this fund. The answer is, you won't see any money spent from thsi fund to promote your business, They will bullshit you as to why they need to collect this additional fee from you, as if they weren't already collecting enough for what they do.

Overall, it is not worth it, The VP Avi is total scumbag and comes across like a used car salesman. Just look at him and you will see he tries to coem across like he has class, but don;t be fooled. He is just interested to get you on and take your money and make it seem like you will get lots of locations through their telemarketing dept. The leads from the telemarketing dept sucks. They want you to take any location they recommend so they can make the $1200 on the ATM sale and start collecting fees from you for that location, even if you don't make crap. If you want real info about the opportunity, get their FDD and call As many franchisees as you can and make sure to call the franchisees that left the system and ask them why their business failed? Don't just call the franchisees they suggest, we all know they are telling you to call people that will only talk good about them. Bottom line, you don't need them, you can do this yourself and save A LOT of money!

You are 100% right

Thanks for the great review. I actually was very interested in ACFN and did my due diligence. This company is not a "scam", however their claims are grossly exagerated and you are paying fees upon fees for nothing. I called and talked to 3 current franchisees and all of them told me not to do it. One lady said to me "hey you sound like a really nice guy, do yourself a favor and do NOT do this"......another guy bought into the franchise a year prior and they still hadn't found him a location for his ATM....they try to get you to buy multiple ATM's, but he just bought one and he said it has been in his garage for 13 months. Please, as with any franchise do your due diligence. But in my opinion after doing my research I would recommend not doing it.

Acfn atm machine

By jetman11 Comment :
To call FDD and there franchisees, what you mean by that, how do I get there number from .

ATM Franchise

Hey Jetman,

Thank you so much for writing all of this useful information because I was seriously considering ACFN but after much research realized that it's not worth it. Can you possibly give me any of your recommendations as to how to do it yourself? Would greatly appreciate your feedback.

ACFN franchise

as an operator in the ATM business, I can tell you this is a huge ripoff, IN MY OPINION ONLY.

CORRECT

You are 100% right in your opinion

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