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If you're organizing an event, one of your targets will be to ensure the event is as profitable as possible. This will only happen if people spend as much money as possible. However, attendees may not bring as much cash on hand. This can be a problem for you because as soon as the money runs out, the spending will have to stop.
One way that event organizers have found around this is by using ATM rental services. Here are several factors that make them important.
Distant Event Location
If your event is inside or within walking distance of a large town or city with plenty of ATMs that event goers can use, an ATM on site may not make much sense. However, if your event is some distance from the commercial areas, where access to ATM can be an issue, renting an ATM is something you should definitely do.
In case event goers run out of money, the idea of having to drive to another location will dissuade many. If your event has the purpose of profiting in some way, this could be a disaster. You don't know if they'll return. An ATM, however, keeps people at the event and spending their money.
A large Number of Attendees is Expected
Hiring an ATM isn't exactly cheap. Therefore, before you rent one, you have to ensure that the potential benefits will offset the amount you'll spend renting the ATM. An event with plenty of attendees and vendors to serve them is ideal. If the number of people attending the event is high, you'll only need a certain percentage of them to spend more to justify having the ATM on location.
Vendors Lack Credit Card Machines
Credit cards have become second nature to the idea of making a purchase. However, this is only true because we mostly deal with fulltime businesses. In some events, the vendors may be ordinary people who are only vendors on that particular day e.g. an arts and crafts event. Such vendors will only accept cash, and having a source of cash nearby will help many of the people at the event.
Event Taking Place Over Several Days
Even the most frugal of people will, likely, exhaust their funds at some point during an event that takes place over several days. The event attendees will make many purchases over the course of such events, and this makes an ATM on site a necessity. Those attending such events may also be wary of having too much cash on hand. Many will prefer to make several small withdrawals instead.Share
28 June 2018