Here is how to write an ATM business plan.
It will be difficult to find people who don’t use ATMs. These have become a part of our daily lives and offer convenience to financial transactions. There’s an entire industry structured around the ATM business.
If you’re drawn towards or have the desire to start an ATM-related business, then you’ll need a plan.
However knowledgeable you are about this sector, having a plan will prove invaluable. This is why we’re providing you a guide to work with. As expected, this ATM business plan guide highlights key areas to include in your plan.
Without these sections, such a plan will be incomplete.
ATM BUSINESS PLAN SAMPLE TEMPLATE
Your ATM business plan should contain certain key elements or sections such as the executive summary and company description.
Others include the products & services section, market analysis, strategy & implementation, organization & management team as well as financial plan & projection sections.
Here, you want to present a concise overview of what your ATM business is all about. It’s a condensed introduction that will need to contain all the key points fully explained in the main plan.
Your ATM executive summary section will appear first. However, that isn’t the order it should follow when writing it. It’s important to keep it for last. This way, you’re able to write a better summary of the contents of your plan.
Certain elements shouldn’t be left out in your executive summary section. These include identifying the problem and your solution, company, or business description as well as market analysis.
Other key elements should include the products & services section, financial information & projections as well as plans. All of these should fit into a few pages (preferably one or two)
Identifying a Problem and Solution
Your ATM business executive summary section should be informative. Here, you hold the attention of your reader(s). A significant level of creativity is needed to convey your ideas. Every good business idea should solve the problem.
So, what common ATM or financial issues do people have? Your first paragraph should be an attention grabber.
Company or Business Description
Being able to clearly describe the specific financial services you offer helps get you the needed funding. Include information on when your ATM business was formed, services, and products as well as location. You’ll also need to include founders, executive team members, and names.
Despite being a summary, the market analysis must include information on your competitors. Demand for your ATM services must be stated as well. Additionally, you’ll need to identify what makes your business unique.
Products & Services
There are tons of ATM-related financial services. What does your business offer? Clearly state these and also provide information on current sales, growth, and unique selling points.
Financial Information & Projections
The executive summary section of your ATM business plan should have a financial overview. Remember, only the highlights are required here as the full details will be found in the main body.
You should have a plan for your ATM business. This shows that you’re growth-oriented. Here, you want to state what you intend to use funds on in addition to where your expansion plans are headed.
2. Company Description
In writing a company description for your ATM business, you’ll need to clearly state who you are. This includes the name of your business as well as your name. If there are any partners, their names must also be included.
Who is your target customer? In other words, you want to identify who you’re selling your financial services to. Clearly identifying the “what” is essential to describe your company. Investors will need to know what your ATM business is about as well as the goals you have.
A timeline for achieving your goals is crucial, hence the “when.” Clearly include and explain why people need your ATM services too.
3. Products & Services Section
When you decided to establish an ATM business, you did that intending to provide specific services. All such services will need to be provided in detail under this section.
This includes a clear benefit to your customers as well as to the business.
4. Market Analysis
This is where all the data from your research will be made available.
Under this section, you’ll need to provide information about the financial services sector, as well as the outlook. There should be a clear target market, and market test results.
You’ll also need to discuss the lead time (in terms of financial products on offer) and competitive analysis. To do a good job, a lot of online research is necessary. Also, put yourself in the shoes of your customers when drafting your market analysis.
You’ll need to be concise in your approach and also infuse some visual aids to help with easy interpretation.
5. Strategy & Implementation
Under this section, you’ll need to provide information on how you intend to promote your ATM business.
Details on pricing, distribution, costs, and promotions will also need to be included. Others include operations cycle, number of employees, and labor sources are important additions to consider.
6. Organization & Management Team
An ATM business will require an efficient organization and management team to drive its operations.
Here, you’ll need to include organization charts with key employees as well as roles played. Owners will need to be named and their share percentages provided.
Naming the members of your management team alone won’t do. You’ll need to state their past experiences, roles occupied, and their main responsibilities.
7. Financial Plan & Projection
The financial plan & projection sections of your ATM business should be carefully written to include the sales forecast and an expense budget.
Other important aspects include the cash flow statement, the profit & loss statement, the balance sheet, and the break-even projection.
These are the basic contents your ATM business plan should include. Structuring your plan around these would greatly help to come up with an excellent plan.
It’s important to perform all necessary research before putting down a plan. The better your research, the more likely it is for your plans to succeed.