IN-STORE DESIGN

In-Store Banking: The Differences

• ABBREVIATED STAFF AND FUNCTION: the obvious result of a small space. Work areas overlap, each employee is trained to perform every function. New accounts can be opened by anyone at the most convenient and available spot: teller line, desk or in the managers office if there is one. Most in-stores have a staff of three to five, a three or four station teller counter, a managers office, security room and ATM available to the store 24 hours.

• LESS COST: An in-store bank can be constructed for between $60,000 and $150,000, a fraction of the cost of a traditional brick & mortar branch. The equipment and furniture will be another $50,000 or so. $250,000 is a good budget number for a turn key branch.

• PEOPLE TRAFFIC: Depending on location, 10,000 to 30,000 potential customers pass an in-store branch weekly.

• SALES TRAINING: a motivated staff should expect to spend a significant portion of their time introducing your services to the captive audience.

• HOURS OF OPERATION: An in-store bank is usually open 6-7 days a week with extended hours. These hours may be mandated by the store, requiring particular attention to staff scheduling.

• SIGNAGE & MARKETING: More important than in a traditional bank environment. You must be seen in a store where thousands of other products are screaming for attention. The merchandising materials must be integrated into your design, not just an afterthought.

• LAYOUT IS CRUCIAL: Every square inch counts, security and safety is paramount, the location of support equipment is even more important than in a normal branch. Don’t even think this is a
  do-it-yourself project.