Cash isn’t as common now (pre-COVID), and even less so post, but my guess is there’s still money to be made in some parts of the world.
ATM machines are cheap, about $1,500. If you put them in places where people REALLY need cash (strip clubs, festivals, etc...) you can make a fine living.
I eventually sold mine to a friend because my consulting required me to travel and you lose all your profits if you have to pay a company to manage (refilling) the money for you.
I have some funny stories like the time I was sitting behind a strip club in a bad part of town at night with $30k in cash waiting on a tech because the magazine jammed.
I once had to withdraw 60k in $20’s for my friend and business partner at the time. He was out of the country and is 18 year old cousin was refilling the ATM’s. His ATM’s were two hours from me. We sat in the back of a large Wells Fargo branch with money counters and VERY SERIOUS (read: terrified) EMPLOYEES as I handed the $60k they just counted to a kid and sent him on his way. LOL
In the ATM biz everyone knows each other and lending money is common and done on a handshake. The reason is, if you can’t be trusted with cash you don’t last long. So if you’ve been around nobody had a problem letting you borrow $100k in duffle bags in the parking lot of a Home Depot at 6am.
Everything is tracked because the ATM’s all go through a data provider that handles the bank interchange. You should see the volumes of money that pass through them. Even the small ones back then would process hundreds of millions in $USD a year. When you lend someone money you call Chris at the data company up and say “I’m borrowing $50k from Tom so send the next few wires to him”.
M-F you get an ACH from the previous days withdrawals plus whatever fee you charged. Monday’s includes Fri-Sun. It’s an interesting business and it’s fun. I never got robbed but I’m ex military and stayed strapped and aware of my surroundings.
