My friends and I are considering building bitcoin ATMs. We're still doing the necessary research and planning and we've been looking at existing ATMs like Lamassu. Based on what they've been reporting online (and other sources), it seems to be a pretty profitable business.
We understand that there are lots of regulations involved depending on the country of residence, but we are considering just building and selling the machines, not operating them. Off the bat, are there any other important considerations we should know? Red flags? Any feedback will be appreciated.
Why are you only considering to do build and sell those ATM machines. If you are one of the pioneers on Lamassu to have that type of business, the competition will not be tough to you. But expect that there will be competitors that are going to come out when they see that your business has no competitor. I'm curious about the current research that you are doing. Could you share us on what are your gathered information base on your plans and research?
This is right if I do have the knowledge and the resources on bitcoin atm's then this would really give you some serious fortune and as being said you wont really have any competition knowing that bitcoin isn't known yet globally or on most countries on the world which if there are some several bitcoin users on your place then it would be an advantage.Later on selling out or exporting these atms will extent possible income.