General Topics

4 Tips when Changing Business Specialties

by Brenda | September 16, 2014

It’s inevitable that you’ll be tempted to take your business in a new direction someday. This may be a minor change or a substantial shift. For example, we’re hearing more and more about roofing contractors that are considering metal roofing as part of their product mix. Some are completely restructuring their business model around this increasingly popular material. If you’re considering a change in specialties, ask yourself the following:

  1. Does the market demand it?

Consider whether or not you’re consistently losing customers by not making this business adjustment. In addition, ask whether your competitors are offering what you’re not. Basically, is your position in the market suffering, or are there clear signs that it WILL suffer, because you’re not moving in a certain direction? Or is there an opportunity to innovate in ways that others aren’t to make your business more competitive?

  1. Is it a “smart” business decision?

If “market demands” were the only consideration in a business strategy change, we would constantly be changing our business model (and that’s not a great long-term plan). We’re sometimes tempted to shift our business strategy to appeal to a wider audience, but ultimately it comes down to a careful consideration of what is “smart” and what is not.

  1. Is your business set up to easily make the change?

Let’s reconsider the metal roofing example. Do you already offer a variety of other roofing products, and metal would simply be added to the mix? If so, your business might be able to absorb the expansion relatively easily. However, if you’re solely focused on slate roofing (even reflected in your business name), a shift could be far more challenging.

  1. What’s the ROI?

Changing business specialties requires time, energy, and money. It’s important to understand the risks and rewards of such a decision. The last thing you’d want is to determine that your efforts were a waste of time, or worse, you’ve overestimated the potential profitability.

Do you have any experience in adjusting your business specialty? Please share your experience with us!

[/vc_column_text][/vc_column][/vc_row]

Home Improvement

Hours of Operation Monday – Friday
8am – 6pm MT
Saturday
9am – 4pm MT

Holiday Closures

Please note: Holiday closures are not the same for the Recreation and Home Improvement Departments.

  • New Year’s Day
  • Labor Day
  • Memorial Day
  • Thanksgiving
  • Independence Day
  • Christmas
  • New Year’s Day
  • Memorial Day
  • Independence Day
  • Labor Day
  • Thanksgiving
  • Christmas
  • Day before Thanksgiving,
    Wednesday,
    November 26, 2025
    – Closing at 3:00 MT

    Day after Thanksgiving,
    Friday,
    November 28, 2025
    – Closing at 4:00 MT
  • Day before Christmas,
    Wednesday,
    December 24, 2025
    – Closing at 3:00 MT

    Day After Christmas,
    Friday,
    December 26, 2025
    – Closing at 4:00 MT

    Saturday after Christmas,
    December 27, 2025
    – Closed
  • New Year’s Eve
    Wednesday,
    December 31, 2025
    – Closing at 4:00 MT

    Day After New Years,
    Friday,
    January 2, 2026
    – Closing at 4:00 MT

    Saturday After New Years,
    January 3, 2026
    – Closed

Home Improvement Application Processing Open as Follows

Home Improvement loan application processing is open on the following holidays. All other departments are closed.

  • Martin Luther King Jr. Day
  • Columbus Day/Indigenous Peoples’ Day
  • Presidents’ Day
  • Veterans Day
  • Juneteenth
  • Martin Luther King Jr. Day
  • Presidents’ Day
  • Juneteenth
  • Columbus Day/Indigenous Peoples’ Day
  • Veterans Day

Recreation

Hours of Operation Monday – Friday
8am – 5pm MT
Closed Weekends

Holiday Closures

  • New Year’s Day
  • Labor Day
  • Martin Luther King Jr. Day
  • Columbus/Indigenous Peoples’ Day
  • Presidents' Day
  • Veterans Day
  • Memorial Day
  • Thanksgiving
  • Juneteenth
  • Christmas Day
  • Independence Day
  • New Year’s Day
  • Martin Luther King Jr. Day
  • Presidents' Day
  • Memorial Day
  • Juneteenth
  • Independence Day
  • Labor Day
  • Columbus/Indigenous Peoples’ Day
  • Veterans Day
  • Thanksgiving
  • Christmas Day
  • Day before Thanksgiving,
    Wednesday,
    November 26, 2025
    – Closing at 3:00 MT

    Day after Thanksgiving,
    Friday,
    November 28, 2025
    – Closing at 4:00 MT

    Day before Christmas,
    Wednesday,
    December 24, 2025
    – Closing at 3:00 MT
  • Day After Christmas,
    Friday,
    December 26, 2025
    – Closing at 4:00 MT

    New Year’s Eve
    Wednesday,
    December 31, 2025
    – Closing at 4:00 MT

    Day After New Years,
    Friday,
    January 2, 2026
    – Closing at 4:00 MT

Borrower Services

Hours of Operation Monday - Friday
8am-11pm MT
Saturday
9am-1pm MT

Holiday Closures

:
  • New Year's Day
  • Thanksgiving
  • Memorial Day
  • Christmas
  • Independence Day
  • New Year's Day
  • Memorial Day
  • Independence Day
  • Thanksgiving
  • Christmas

Welcome to Our New Website

Welcome to the newly redesigned MedallionBank.com. Our website now features a fresh look and includes a dedicated FAQ page for borrowers, as well as new content for strategic partners.

We would like to hear from you.

We value your feedback and always want to learn how we can improve. Please submit thoughts about your experience with Medallion Bank here:

Submit Feedback

Give us a review

We invite you to share your experience with Medallion Bank on one of the websites listed below. Your reviews and feedback are important to us!