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William Farrow

1x

Finalist

1x

Winner

General information

Hobbies & Interests

  • Business And Entrepreneurship
  • Saxophone
  • Accounting
  • Cooking
  • Biking And Cycling
  • Artificial Intelligence
  • History
  • Geography
  • Walking
  • YouTube

Reading

  • History
  • Business
  • Cookbooks

I read books multiple times a week.

Bio

Transfer Student at Sonoma State ATM Entrepreneur Saxophonist

Education

Sonoma State University

Bachelor's degree program

2023 – 2025

Majors:
  • Business/Managerial Economics

Diablo Valley College

Associate's degree program

2021 – 2023

Majors:
  • Business Administration, Management and Operations

Miscellaneous

Desired degree level:
Bachelor's degree program

Career

  • Camp Counselor

    Child Care · Adventure Day Camp

    Jan 2019 – Jan 2020

  • Team Member

    Restaurants · Chick Fil-A

    Jan 2020 – Jan 2021

  • Server

    Restaurants · Bay Clubs

    Jan 2022 – Present

Miscellaneous

Dream career field:
Entrepreneurship
Has nursing license:
No

Future Interests

  • Advocacy
  • Philanthropy
  • Entrepreneurship
Colby R. Eggleston and Kyla Lee Entrepreneurship Award
Winner
In the summer of 2022, I started my own ATM business. I install ATMs for free inside local businesses and provide cash for their customers. This saves the local stores money as they don't have to pay for a credit card processor. I didn't just stop at stationary ATMs, farmers' markets, flea markets, and street festivals all have vendors that need cash. I would coordinate with event organizers and put my ATMs around vendor tents. This brought a lot more cash to people who could benefit from saving on credit card fees. Most business owners end up paying almost 3% of their revenue just to process card transactions, so a free ATM in their store can save them thousands annually. My company helps my community by empowering other small businesses. Small businesses are the charm and spark in most communities. Without local entrepreneurs, the world would just be one big Walmart. My company helps these businesses keep more of the money they make. Most people have never heard of my business model. They think I am going to ask them for rent or lock them into a contract they can't escape. When I make my money from their customers paying a transaction fee and not the business itself. More often than not I end up giving a portion of the transaction fees from my machines to the business owners for letting me keep my machine there. This surprises some, but any good location will demand this. I need to further develop my company by breaking into digital marketing. I have found all of my leads through door-to-door sales and phone calls with the business owner. If I had a way for businesses to reach out to me I wouldn't have to spend so much time cold calling. My plans for this are a website and social media marketing. It seems like the best way to get eyes on your product is through the internet, however finding a place to advertise to business owners is the tricky part. Targeted ads and social media algorithms only go so far, so I need to find what other people in my industry are doing. Another way to scale would be to completely automate my company. Currently, I am the one filling and servicing my machines. Most larger companies pay a cash vaulter to load their machines for them, making the income completely passive and hands-off. I haven't done this to increase my profit margin, but as I transfer to college I will need to complete this step. Hopefully, my school will help prepare me for more challenges I face up the road. I want to create financial plans, and even learn how to attract investors. I can't wait to leverage my college degree when I forge my path as an entrepreneur.
William Farrow Student Profile | Bold.org