The ambition of earning passive income has long been the dream for many aspiring entrepreneurs. Who can resist the allure of being able to have the luxury of both financial security and their own free time? Because of this, much has been said about financial markets and business models that supposedly offer this as their primary perk. Methods that have long been touted include dividend stock investments, real estate, and rental properties. More recently, novel and relatively low-effort ventures include e-commerce and cryptocurrency.
However, these models all come with several problems that make the dream of a truly ‘passive’ income difficult to achieve. Most require enormous amounts of capital outlay that would necessitate a high degree of pre-existing success (or large amounts of inherited wealth). On the other hand, methods that rely on financial markets such as stocks and real estate are, of course, prone to events that shake these very markets. Occurrences that lead to instability and high volatility, such as the ongoing COVID-19 pandemic, are likely to at best cause reduced profits and, at worst, lead to a high degree of financial loss.
On the other hand, many newer methods promise to be fast-growing and lucrative businesses with little to no capital needed. In addition, these assure entrepreneurs the convenience of being able to conduct business from the comfort of their own homes through the internet. The utility of this is evident amidst the ongoing pandemic. Such assurances, however, belie the slew of difficulties that come with these methods. Due to their boom in popularity caused by the ongoing pandemic, methods such as the variety of e-commerce models available come with a high degree of competition. If one successfully profits from these ventures, it comes only through great effort until one’s business has become successfully established.
Entrepreneur and CEO Justin Gilmore offers an alternative path for entrepreneurs who dream of passive income. Through his company ATMMachines.com LLC, Justin not only engages in the purchase, operation, and processing of ATMs all over the United States, but also in the education of other aspiring business owners through courses, training, and mentorship about establishing and managing their own ATM businesses. Through this, Justin aims to not only rapidly grow his own company, but also help others tread their own paths to passive income.
Justin’s desire to help other would-be entrepreneurs comes from his own beginnings in the ATM business. At just 15 years old, financial difficulties started a chain reaction that led to Justin being expelled from school. He would go on to spend most of his remaining adolescence making ends meet through a full-time job in parallel with any odd jobs Justin could fit in his spare time. All the while, he also taught himself self-improvement and entrepreneurship through the various resources he had on hand, which at the time mostly meant books and purchased videotaped courses available on VHS. Although Justin admits that many of these resources turned out to give untrustworthy advice, the activity would ignite and foster his entrepreneurial spirit and inspire him to think outside the box and keep trying with his businesses.
Justin would then go on to attempt multiple businesses, many of which led to eventual failure. The ATM industry, however, would be where Justin would find his big break. He would find himself earning more than $15,000 per month in just two years in the field. Although his early days were full of hardship, with constant cold calls and door-to-door with potential clients, the business eventually snowballed to such a point that he was continually earning lucrative amounts of truly passive income.
Today, ATMMachines.com LLC has been running for 14 years and owns and operates over 600 ATMs all over the US, purchasing a further 20-30 each month. Aside from this, the company also processes 1,200 ATMS from clients that come from a wide variety of industries. The size of Justin’s company, combined with the skill and reliability of his 14-man team, leaves him living the dream of financial and personal freedom. For his part, Justin chooses to use this freedom to inspire others to achieve the same dream.