What I Learned From Tacos

Glen Bell is the original founder of Taco Bell. Next to him, the most influential leader in the firm’s history was the late John Martin who, as company president from 1983 to 1996, transformed Taco Bell from a regional fast food player into the multi-national brand it is today.

I recall hearing Mr. Martin talk about his early approach to finding retail locations. As a young executive, rather than simply depend on brokerage reports, he would pack snacks, fill a thermos, and park his car where he could observe the comings and goings of target customers around the proposed site. He’d walk the area and see for himself the competition and other nearby businesses. In other words, he put in the time and did the legwork.

Old school to be sure.

I thought of Mr. Martin while viewing a recent on-line tech talk from a senior representative at a major real estate brokerage. The exec was lauding his firm’s ability to make real estate recommendations for his clients anywhere in the country “sight unseen.” In short, he believes that technology exists that enables his firm to do things fast and easy. (And then cash the commission check).

He was very proud of this capability. As for me, I wanted to take a shower.

At Rubicon, we have invested heavily in developing a proprietary market research platform that we use extensively on our clients’ behalf. But when the time comes, we get on planes, rent cars, walk the streets and view potential branch and HQ locations with our own eyes.

Technology is great and we use it every single day, but nothing replaces real-world observation and good old-fashioned shoe leather.

Just like John Martin did.

Corey A. Waite is a leading commercial real estate advisor to the financial services industry. As Founder and CEO of Rubicon Concierge Real Estate Services, Corey works directly with senior executives coast-to-coast to deliver strategic plans and transactional services focused on optimizing the needs of employees, clients and members.

Still Banking on Branches

Still Banking on Branches

Silicon Valley Bank (and others), inflation, fed interest rates and future job uncertainty are all fueling concerns about and within the banking industry. Yet, in the face of all this uncertainty, credit unions and community banks are still expanding their branch networks. Why? And are they going about it in the right way?

Your People, Your Workspace, Your Future

Your People, Your Workspace, Your Future

Nearly every firm we know has — or is in the process — of evolving its workplaces in order to recruit and retain key talent and grow their business. See what one of the world’s leading consulting firms has to say on the matter.

Flexibility as Fact

Flexibility as Fact

For all its angst, the pandemic has been a catalyst for change throughout the credit union industry. CU’s of all size are embracing innovation and re-considering everything … especially when it comes to design and purpose of their branches.

Satisfaction as a Service

Satisfaction as a Service

In the race to anticipate the future and stay ahead of the competition, it’s important to recognize that the “next shiny thing” is not really what your members want most. What they want is satisfaction.

M&A and the Art and Science of Real Estate Due Diligence

M&A and the Art and Science of Real Estate Due Diligence

In the face of so much uncertainty, the key to future growth – if not survival — for many credit unions is through mergers and acquisitions. Often times, the ultimate success of am M&A transaction is based on the true value of the seller’s real estate portfolio – and this is where assessment and due diligence isn’t always what it should be.