Home   : :   Apply For SBI ATM Franchise Registration & Installation – Cost, Profit & Margins
post-01

Apply For SBI ATM Franchise Registration & Installation – Cost, Profit & Margins

Category: Finance
Area Req.: 100SqFt Investment Size: 2 - 5 Lakh No. Of Franchise Outlet: 10000+

SBI ATM FranchiseWhat is SBI ATM Franchise?

SBI is known as State Bank of India is offering ATM franchise business opportunity to people who are interested in increasing their income source. This opportunity is specially for aspiring entrepreneurs who wish to set up and operate ATMs in rural area, semi-urban, and urban areas across India.  It is an amazing franchise scheme which allows individuals to set up White Label ATMs in partnership with reputed companies in the field like Tata Indicash, India One, and Muthoot Finance. Here are some benefits that you will be receiving from SBI ATM franchise:-
  • Wide Network- SBI has the largest ATM network in India with more than 50,000 ATMs located across the country. Such a huge availability and expansion will make it convenient for customers to access banking services easily. 
  • Acceptance of Multiple Cards - SBI ATM accepts all major credit/debit cards issued by foreign and Indian banks. Such a service makes it easier for any people with any type of cards to visit SBI ATM. 
  • Passive Income - If you are willing to generate more passive income then starting a SBI ATM franchise is the best. Individuals in this business can earn from Rs 45,000 to Rs 90,000 per month based on the transaction volumes. 
  • Low Investment Business - The total investment required to start this business is comparatively lower than most passive income sources. 
https://www.youtube.com/watch?v=GNt8Ws7UxTM

SBI ATM Franchise Business Model

SBI’s ATM franchise model offers individuals the opportunity to become financially independent. It also offers individuals to become an integral part of its huge ATM franchise network across our country. The business model of this scheme allows franchise owners to operate ATMs under the SBI brand, which is known for providing convenient banking services to customers.  Here is how the SBI ATM franchise business works :-
  • Application Process - The first step that interested candidates needs to go through is to apply for their franchise. They are also required to meet the bank’s eligibility criteria and submit the required documents. 
  • Location Selection - Once approved, franchise-seekers need to identify suitable locations for ATM installation. High traffic areas with good visibility and customer base is the best. 
  • ATM Installation - After the location is selected, now SBI will provide necessary technical support for installing the ATM machines in the location. 
  • Revenue Generation - The revenue model of SBI ATM franchise primarily involves earning a commision on each transaction conducted from their ATM. Additionally, there could be opportunity for advertising partnerships or surcharge fees for non-SBI card transactions. 
  • Customer Service - Franchise owners are the ones responsible for ensuring that their ATMs are operational, functional, secure, and well-maintained. 
  • Profit Sharing - SBI and franchise owners will have a profit-sharing agreement in place, where both parties will recieve benifits from the revenue generated through ATM transactions. 

How to Earn From SBI ATM Franchise?

State Bank of India is surely the largest and most trusted bank in India. It is known for providing various financial services to millions of customers in India. We must agree that the process and other services from SBI is much easier as compared to other public banks and private banks in our country.  The primary source of revenue generation from the SBI ATM franchise comes from transaction fees charged to customers using the ATM. The operator will receive a commission for each transaction and there is a price for each. Specifically, for every cash transaction conducted at the ATM, it is believed that the operator will earn Rs 8, and for non-cash transaction transfers, the operator will earn Rs 2.  These are the commissions that are paid by the bank to the ATM owner or operator as a form of compensation for providing ATM services to customers. So, as the earning is directly linked to the number of transactions, the more transactions you make the more money you will be receiving from the bank at the end of the month.  Other income streams from the SBI ATM franchise include third-party advertisements on ATM screens, bank promotions (if any), and revenue-sharing agreements. ATM owners can easily collaborate with third-party advertisers to display their ads on the ATM screen. These advertisers pay a fee to franchise owners to have their ads showcased on the screen. The revenue generated from these advertisements can contribute heavily to the earnings of the ATM owner.  Profit margins for SBI ATM franchises can vary based on factors such as location, transaction volume, and operational costs. But, on average the profit margin can range from 0.5 to 1% per transaction. The earning potential is directly linked to the number of transactions processed through the ATM. 

SBI ATM Installation Request Process

To apply for an SBI ATM installation request process, here are the innovative steps that you are required to follow:-
  • Online Application - You are required to start by visiting the official SBI website to complete the SBI ATM franchise application on their platform. This streamlined process allows for efficient submission of your proposal as an installation to the bank. 
  • Selection of Installation Company - As mentioned earlier, there are three SBI-approved ATM installation companies whom you are required to select. They are Tata Indicash, India One, and Muthoot. They are the ones who handles all the installation process when it comes to ATMs. These companies are highly experienced in setting up ATMs and they will ensure that your ATM has full efficency and capability. 
  • Application Form Submission - After you have submitted your offer proposal, the SBI ATM franchise team will reach out to you.  Then you will be required to fill out an application form where you need to provide basic and necessary details. 
  • Viability Assessment - The SBI team will then review your application very carefully and thoroughly to assess the viability of your proposed location for the ATM installation. This is a very crucial step as it determines the suitability of the site for an ATM. 
  • ATM Model Recommendation - Based on the team’s assessment , they will recommend you the most suitable ATM model for your location. This recommendation offered by the official SBI team will ensure that you have the right equipment to cater to the needs of your target customers very effectively. 
  • Signing of Agreement - Once the application is approved, you will asked by the officials to sign an agreement which will outline the terms and conditions of operating the SBI ATM franchise. Make sure that you follow them very strictfully. 
  • Installation Notification - Upon agreement of ATM installation, SBI will notify the chosen installation company to proceed with the ATM at your chosen or designated location. 
  • Post-Installation Checks - After the ATM installation is completed, thorough post-installation checks will be conducted by the team to ensure that the ATMs set by them are done properly and are ready for public use. 

Investment Required for SBI ATM Installation

Before we delve into the total investment required to start SBI ATM franchise or ATM installation cost, we must know all the factors that contribute to the overall cost. Installing an ATM involves various expenses such as equipment costs, site selection, installation charges, maintenance fees, and operational costs.  The equipment cost includes all the expenses in setting up the SBI ATM. It can depend on features, brands, and specifications included in the machine. SBI may have specific requirements for the type of ATM machines they use, which can impact the overall cost.  Choosing the right area for your ATM is very important as the profit is directly dependent on the transactions. Make sure to choose the best site and that requires some investment if you do not have a good one. It will include the lease or rental for the space where the ATM will be installed.  Team who visit for installation will take some installation charges and labour costs. It includes setting up the machine, connecting to its bank’s network, software updates, hardware updates, and many more. Maintenance fees and operational costs are also essential parts of SBI ATM installation. Without them, your ATM will not function well. The total investment required for everything could be around Rs 5-6 lakhs. 

SBI ATM Franchise Application Form

The official SBI ATM application form can be availed from the official website of the bank. It is a form with lots of asking informatons, make sure to fill them out very carefully. 

SBI ATM Franchise Registration Process

To apply for an SBI ATM franchise you are required to follow these steps:-
  • Visit the official website of SBI
  • Look for the section in the same webpage for franchise opportunities for ATM services
  • Make sure to fill out the application form provided by the bank
  • Make sure to keep your KYC documents ready as you are required to submit them in the next step. It includes ID proof, address proof, bank details, photographs, and more. 
  • Wait for a few days for the SBI franchise team to review your application form
  • Upon approval, SBI will guide you on selecting the appropriate ATM model for installation
  • Choose the company you are willing to install the model with
  • Post-installation checks will be done by the installation team. 

Contact Channels and Details

Here are the contact details for SBI ATM Franchise :-