I sat down with Mitchell Sorkin, the ATM guy from Twitter. He owns 900 ATMs across Los Angeles, bringing in $864,000 a year in net profit. We talk about how he bought these locations rather than using cold calling to get them, and why this is an approachable business for anyone. The multiples are much lower than you'd think, making it a great opportunity in a well-established industry.
At the end, we talk about few different business ideas beyond the ATM industry, including a unique AI business idea that you probably haven’t heard of.
Timestamps below. Enjoy!
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00:00 Highlights
00:14 Introduction to Business Ideas and ATMs
01:12 Meet Mitchell: The ATM Guy
01:48 Starting Small: The First ATM Deal
02:35 Scaling Up: From 3 to 900 ATMs
04:45 Challenges and Strategies in the ATM Business
06:18 The Importance of Location and Contracts
16:25 Revenue and Margins in the ATM Industry
17:44 Acquisition Strategies and Market Insights
20:12 The Best ATM Locations: A Case Study
24:09 Managing High-Volume ATMs
25:06 Cash Loading Strategies
26:40 Surprising ATM Locations
28:19 Dealing with Theft and Insurance
29:25 Challenges in the ATM Business
31:00 Advice for Aspiring ATM Owners
32:51 Future Plans and Market Insights
36:22 Exploring New Business Ideas
38:54 Diving into Comfy UI
44:14 Resources and Tools for Comfy UI
46:57 Conclusion and Contact Information
