250+ Franchises and growing!
ACFN Welcomes 2 New Franchisees!!
Franchisee Review | This Is A Good Business
|After 20 years of holding executive positions at public and private companies, I have been semi-retired for the past dozen years; and began looking for ways to add more to my plate of things to do.|
In my search, I stumbled upon ACFN. While calling and checking references, I talked to a franchisee who was looking to sell some of his locations. Buying existing locations with proven track records and predictable profits was a more desirable option for me, as opposed to starting from scratch.
I have been with ACFN for about a year, and in my time, I have expanded from the initial 8 locations that I started with, to my current 14 locations. Some were purchased from another franchisee, some via ACFN referral, and some were sourced myself.
After one year in this business I can attest that this is a good business if you are willing to put some work into it. It has its challenges, especially on the technical side (I am not the most computer savvy person). However, with any of the tech issues that I encountered, I was always able to solve it either by myself, with ACFN tech support, outside help, or combination of all three.
The marketing side of this business should work, assuming you are consistently making drops. I have done my share of drops with limited success, but I think it has more to do with specifics of the New York City market; which is very different from other markets. I have found that in addition to making drops you need to keep your eyes and mind open for potential locations. The marketing department is very flexible when it comes to approving new locations and will let you make your own mistakes. I have personally made one mistake in choosing one location (a Library) and I learned from it.
As I was writing this article, I received a call from the Sales Department notifying me that one of the hotels I made a drop at 6 months ago called with a desire to replace their unreliable ATM provider. So I jumped on this opportunity and now have this location which is only 1 mile away from my other location. When a new location is ready for ATM installation, everyone at ACFN is very efficient in getting you what you need - so there are no delays. Eric was great in following up on everything.
This is a good business if you set your expectations realistically. If you think you will spend 2 hours a week driving around to fill machines with cash, and receive your commission check once a month, you may be disappointed. But if you are prepared to put effort and time into finding new locations, and learning the technical side of the business, you will be rewarded. This is one of the few businesses that does not require you to be a great salesman and gives you a lot of flexibility with your time.
*Based on last 6 months
- Joined ACFN – 10/29/2014
- Total locations - 14
- Acquired from other franchisees - 8
- Organic growth - 6
- Average Per ATM/Yr* - $4,344
Important Reminder From Accounting