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Bank 2.0 by Brett King

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Flagship branches—the virginmegastores of banking

In many ways, the high street branch has been as much about real estate as it has been about presence and capability. In a 1974 speech to a friend’s MBA class, Ray Kroc, the founder of McDonalds, asked the audience what business they thought McDonalds was in. The answer appeared obvious— burgers and fries! Wrong. Ray Kroc explained that McDonalds was really about real estate. The question for McDonalds was really about where to position the store to maximise visibility, flow of business and future capital gain on the property. In the early days, they actually purchased the real estate and leased it back to franchisees. However, the financial success of an individual franchise often came down to ...

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