Truth ATMs is intended to be established as a limited liability company at with the expectation of rapid expansion in the automated teller machine (ATM) service industry. The business will own and operate independent automated teller machines across the United States. Our ATM’s perform financial transactions such as cash withdrawals, deposits, transfers of funds, obtaining account information, bill payments, and cryptocurrency exchanges at any time and without the need for direct interaction with bank staff.
The market for ATMs is extremely large. Any place where commerce is being conducted and cash can be used is the marketplace for ATMs. As long as consumers use cash to make purchases, ATMs will be needed.
Truth ATMs will make their presence known through direct sales, online advertisements, and mailing campaigns. We want to be sure our customers know that our ATM machines offer the latest automated teller services. Our customers will not only be able to perform cash withdrawals and balance inquiries, but will also have access to cryptocurrency exchange, bill payment, and credit card advances. We will utilize search engine technology to show the location of our terminals on mobile devices.
To achieve a higher competitive edge, we are contracting with the best manufacturers in the industry to provide and program our terminals. Additionally, we are utilizing an alliance ATM operator training program where we will obtain access to live cash flow software. One of our most important alliances is with our processor, who is also providing our ATM vault cash.
Truth ATMs are highly scalable due to their business operations model; the company's equipment needs are met by the Veterans Administration, and seed money is provided through cash vault services. As a result, the business in its second year of operations can obtain a gross profit in the six-figure range, with sales projected to be $100,000 of passive income.
The funds required for the initial business setup and equipment are $97,300. The company is not seeking partners. However, the company has secured lines of credit and is seeking outside investors. Additional funding for the company will come from the Veterans Administration self-employment program through Veteran Readiness and Employment and grant financing.