Bus-conversion firm Royale Coach Corp., a subsidiary of Monaco Coach Corp., is putting the finishing touches on a mobile banking center for a financial institution in Louisiana.
The banking center project is part of an effort by Royale to broaden its market base into specialty vehicles, said Dennis Peterson, sales manager of the Elkhart, Ind.-based firm.
Royale, which exclusively uses bus shells supplied by Canada’s Prevost Car Inc., builds 25 to 30 luxury motorcoaches per year. Its customers are, primarily, highly successful owners of small businesses, Peterson said.
Royale units are sold through one independent dealer, Buddy Gregg Motor Homes with locations in Lewisville, Tex., a suburb of Dallas, and Knoxville, Tenn.
The company’s goal is to build one or two specialty vehicles per year, such as the mobile bank it built for Central Progressive Bank of Lacombe, La., Peterson said.
The 45-foot mobile bank built for Central Progessive retailed for $1 million.
The mobile bank will serve three purposes for Central Progressive: function as a mobile billboard for the bank at festivals and other events attended by large numbers of people; as transportation for VIPs attending various events; and to provide banking services for people attending festivals and for vendors working festivals.
For example, there are several ATMs built into the mobile bank for use by festival attendees and it is equipped with a vault where festival vendors can keep their cash, Peterson said.
It took seven months to build the mobile bank and it usually takes more time to build a specialty vehicle because of the unique specifications. That is why Royale does not anticipate high volume from its specialty vehicles business, Peterson said.
Royale typically has 10 coaches in various stages of completion at one time, he added
However, other banks are interested in the mobile-bank concept and Central Progressive might agree to become the leasing agent for Royale’s mobile banking centers, Peterson said.