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De Novo vs. Renovation

Why Open a De Novo Branch?

De novo branch expansion is most often driven by demographics; namely regional/local population growth and the potential increase in income that accompanies that growth.  When considering the construction of a new branch, it is best to begin with a population-per-branch ratio, taking residential, retail and industrial figures into consideration.

Competitive institutions must also be evaluated, with careful attention paid to strengths, weaknesses and strategy.  Co-existence may not only be possible, but beneficial to all.

Finally, and importantly, banks and credit unions must consider how best to optimize service levels in all branches.  When a branch in a particular area begins to fall short of expectations with regard to service, it has reached its full service capacity, therefore it is time to contemplate adding another via new construction or by overhauling an existing site.

Before the plans are drawn, contact BranchServ as your security equipment consult.

Why Renovate?

Branch renovation is a given for banks and credit unions, as branches really are the face of the financial institution for the community served.  It is therefore absolutely essential that they reflect the brand and the image that the bank or credit union seeks to convey.  Maintaining the appearance of being modern, professional and up-to-date is essential to preserving an institution’s appeal to consumers, and reinforcing trust.

Ultimately, renovations do result in long-term earnings growth.  The more immediate payback is brand enhancement and positive consumer response.  As for the specifics guiding investment; individual banks often develop a remodel program that dictates which components to replace, based on their research.  But one thing is for sure – this is the time to evaluate upgrades to all security equipment and technology. 

BranchServ is the clear choice.  Contact us for a consultation.

BranchServ can help.