Open a Bank Branch



Open a Bank Branch

Research Objective

(a)

The objective of the research is to find out the viability of opening a bank branch in a particular area. The research would help us find out whether it is feasible for the bank to open a branch in this specific area and would it generate sufficient business for the bank or not. The study will also help us determine whether there is a need of a branch in that particular area and whether the residents of the place use banking services or not.

(b)

Information Required

Information Source

Research Information

Primary or Secondary

1. Population growth over the last five years and growth projection for the next five years.

The information on population growth and projections could be retrieved from the database of Australian Bureau of Statistics

Secondary

2. The demographics of the local population including average income.

The information on demographics alongside average income of household is also available at Australian Bureau of Statistics's website. It is also available at http://www.sccs.swarthmore.edu/users/08/ajb/tmve/wiki100k/docs/Demographics_of_Australia.html

Secondary

3. Current and potential growth in business.

For this particular information, we will rely on population projections from Australian Beuru of Statistics and Primary Survey that will help us determine the potential of the business

Secondary + Primary Study

4. Current banking associations for both potential private and business customers.

The company could use its network and existing contacts to enhance their business and build relations in the particular market. Company could introduce them about the new Bank Branch through Email or Telephone. For the purpose, the company will go through its internal records

Secondary

5. Indications of the number of potential customers.

People who are already involved in any banking activity with any other bank could serve as potential customers. The data for this particular issue could be retreived from conducting primary survey, where people would be required to provide information whether they use banking services or not. Plus the company would also consider the adult population of the area.

Primary

6. The availability of suitable premises in the area.

The data about the available premises could be accessed from Property Investment Advisor, which could be retrieved from http://www.propertyinvestmentplanning.com.au/

Secondary

7. The overall cost of establishing the branch.

Internet Sources plus Bank previous experiences

Secondary plus Primary

Survey Questionnaire

Q1. Do you have a Bank Account?

Yes

No

Q2. If No, why not? If yes then skip to Q3?

____________________________________________________________________________________________________________________________________________________________

Q3. How many Bank accounts do you have?

____________

Q4. What other Banking Services do you use?

ATM

Online Transfer

Draft/Pay order

Microfinance loans

Any other_____________

Q5. Are you satisfied with your banking services?

__________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

Q6. Rate the ...