Sunday, October 9, 2011

Pop up Bank Branches?

I was reading this month's Inc Magazine issue and read this interesting article about a chain of New York City beauty stores called Ricky's that open 30 temporary stores for two months to sell Halloween supplies.

They use these pop-ups to test a market. You see, when they open the pop-ups, they analyze the sales. Stores that have strong sales of women's Halloween costumes, then it may make a great permanent location for their beauty store.

I was thinking, many different types of businesses can use this same technique. Maybe not with Halloween costumes, but maybe banks or credit unions can set up a temporary mobile branch in an area they are thinking about expanding into. Who knows, it may be a great way to see what kind of market you will have there before spending a ton of money building a branch from the ground up.

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