Business View Magazine - Dec 2023

CEO Larry Goodman explains it perfectly, using the typical scenario seen in other franchises. “If you had a restaurant [franchise] and another down the street, they’re not trying to work collaboratively. Within our model, each market has what’s called an Advertising Council of franchisees that come together and share information, and the more franchises in a market, the more successful [they all] tend to be,” Goodman explains. While it seems counterintuitive, this ingenious design actually results in a surplus of generated results for the larger group as a whole. The members of each Advertising Council combine their advertising dollars to create a spending model that fairly distributes leads based on individual ad spends. The result is a cooperative ecosystem where everyone not only works together to thrive but also puts in more to ensure a higher ROI for themselves. SUPPORTING SUCCESS THROUGH TECHNOLOGY AND TRAINING In addition to its highly cooperative culture, HomeVestors also ensures that its franchisees are adequately supported. First and foremost, the company leverages a propriety CRM tool called UGVille to empower franchisees and enhance their business management capabilities. Powered by Salesforce, this resource guides franchisees through the entire lead lifecycle, helping them effectively manage their business. Additionally, HomeVestors has also developed a proprietary app called ValueChek, which helps franchisees analyze property repair costs and determine post-repair values, streamlining the investment process. The company is also finalizing a vendor portal to help the franchise find qualified vendors that have been pre-vetted through a compliance process to ensure that they have the appropriate insurance or licensing. 178 BUSINESS VIEW MAGAZINE VOLUME 10, ISSUE 12