Home Franchise Concepts Unlocks Insights and Makes Data Accessible with Domo Everywhere

Rhea-AI Summary

Domo (Nasdaq: DOMO) partners with Home Franchise Concepts, a leading franchisor, to improve business decisions and data sharing. The partnership enables Home Franchise Concepts to streamline processes, create dashboards, and optimize business opportunities using Domo Everywhere.

Insights

Market Research Analyst

The selection of Domo by Home Franchise Concepts signifies a strategic shift towards data-driven decision-making within the franchising industry. This move can be seen as an attempt to gain a competitive edge by leveraging analytics to optimize operations and improve franchisee performance. By streamlining data sharing and eliminating manual, static BI processes, Home Franchise Concepts can now respond more quickly to market trends and customer behaviors.

For stakeholders, the immediate benefit is the potential for increased efficiency and effectiveness in marketing and sales strategies. Over the long term, this could lead to enhanced franchisee satisfaction and performance, which may translate into higher franchise value and potentially increased royalty revenues for Home Franchise Concepts. However, the success of this initiative hinges on the proper implementation and adoption of the Domo platform across the organization.

Financial Analyst

The adoption of Domo's platform by Home Franchise Concepts could be indicative of the company's commitment to operational excellence and may be well-received by investors. By saving eight hours per week on report creation alone, the marketing team can redirect resources towards growth-driving activities. This operational efficiency could improve profit margins and, by extension, shareholder value.

However, the financial impact will depend on the cost of the Domo platform and the scale of efficiency gains realized. Investors should monitor the subsequent financial statements for indications of increased operational costs or savings. Additionally, improved data analytics could lead to better market positioning, potentially impacting the company's market share and stock performance positively.

Technology Implementation Expert

The integration of Domo's platform, particularly Domo Everywhere, within Home Franchise Concepts' operations is a critical step towards digital transformation. The ability to aggregate data from six different CRMs into a single source of truth is a significant technological advancement. This integration will likely enhance the company's agility in decision-making and strategic planning.

However, the challenge lies in the execution and user adoption across the various franchisees. The effectiveness of the platform will depend on the training provided to users and the alignment of the technology with the company's business processes. Stakeholders should consider the potential risks associated with the implementation, such as data security and the need for ongoing technical support.

SILICON SLOPES, Utah--(BUSINESS WIRE)-- Today Domo (Nasdaq: DOMO) announced that Home Franchise Concepts, a subsidiary of JM Family Enterprises, has selected Domo as its preferred platform to drive better business decisions and streamline data sharing internally and to its franchisees.

Home Franchise Concepts is a leading franchisor specializing in the home services space. Presently, they own 10 brands comprised of 2,600 franchised territories and more than 1,600 franchisees across North America. Before Domo, Home Franchise Concepts was restricted by a business intelligence (BI) process that was manual, static and inconsistent. It was nearly impossible to pull data across marketing and sales departments, and Home Franchise Concepts was stuck running siloed reports for each brand which failed to show performance impact of business initiatives and strategies.

With Domo Everywhere, Home Franchise Concepts was able to create dashboards for internal and franchisee use, which combines the company’s corporate, marketing and franchisee data from six different CRMs and serves as their single source of truth. Domo Everywhere enables Home Franchise Concepts to streamline and automate the way they report and aggregate data, simplifying their communications across the organization and with each franchise.

“Domo has helped us stay true to our mission of helping franchisees become more successful by opening up access to data,” said Bill Crane, SVP of IT from Home Franchise Concepts. “Domo Everywhere has become our window into what is performing well for our franchisees as well as our own business so we can take action immediately.”

Leveraging Domo, the Home Franchise Concepts marketing team saves eight hours a week on report creation and has comprehensive data at their fingertips. This frees up their time to move forward initiatives that improve the business and franchisee success as well as optimize business opportunities. Home Franchise Concepts and its franchisees now have access to near-real time dashboards that are crucial to forming a better understanding of their customer journeys, from initial interest to final sale.

“Better business results are built through scalable, sharable and actionable data – and Home Franchise Concepts is doing just that,” said Mark Maughan, SVP of customer success, Domo. “They are using the transformational power of real-time insights by putting data at the fingertips of everyone within the organization and across their franchisees, directly leading to better informed, strategic analytics and decision making.”

To learn more about how innovative organizations like Home Franchise Concepts are using Domo to put data to work for everyone, visit www.domo.com/customers.

About Home Franchise Concepts

Home Franchise Concepts®, is one of the world's largest franchising systems in the home improvement goods and services space, among the world's largest franchise businesses and a recognized leader in franchisee-franchisor relationships. Home Franchise Concepts’ brands including Budget Blinds®, The Tailored Closet®, PremierGarage®, Concrete Craft®, AdvantaClean®, Kitchen Tune-Up®, Bath Tune-Up®, Two Maids®, Aussie Pet Mobile® and Lightspeed Restoration™, are supported by more than 2,600 franchise territories in the U.S., and Canada. For information on franchise opportunities, please visit homefranchiseconcepts.com.

About JM Family Enterprises

JM Family Enterprises, Inc. was founded by automotive legend, Jim Moran in 1968. It is a privately held company with $20.9 billion in revenue and more than 5,000 associates. Rooted in automotive and united in its strong culture and core values, JM Family is in the business of helping other businesses succeed. As a long-term partner, it is invested in its companies, associates and its communities. Driven by exceptional performance, current subsidiaries are in the automotive, financial services, franchising and specialty distribution industries. Its family of companies includes: Southeast Toyota Distributors, JM&A Group, World Omni Financial Corp. (dba Southeast Toyota Finance), JM Lexus, Home Franchise Concepts, Futura Title & Escrow and Rollease Acmeda. Interact with JM Family on Facebook, Twitter, Instagram and LinkedIn.

About Domo

Domo puts data to work for everyone so they can multiply their impact on the business. Our cloud-native data experience platform goes beyond traditional business intelligence and analytics, making data visible and actionable with user-friendly dashboards and apps. Underpinned by AI, data science and a secure data foundation that connects with existing cloud and legacy systems, Domo helps companies optimize critical business processes at scale and in record time to spark the bold curiosity that powers exponential business results.

For more information, visit www.domo.com. You can also follow Domo on LinkedIn, X and Facebook.

Domo is a registered trademark of Domo, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240227615404/en/

Cynthia Cowen

PR@domo.com

Source: Domo

FAQ

What is the ticker symbol for Domo?

The ticker symbol for Domo is DOMO.

Who has Domo partnered with in the recent announcement?

Domo has partnered with Home Franchise Concepts in the recent announcement.

What benefits does Domo provide to Home Franchise Concepts?

Domo enables Home Franchise Concepts to streamline processes, create dashboards, and optimize business opportunities.

How many franchised territories does Home Franchise Concepts own?

Home Franchise Concepts owns 2,600 franchised territories.

What is the role of Domo Everywhere for Home Franchise Concepts?

Domo Everywhere helps Home Franchise Concepts to centralize data, automate reporting, and improve decision-making.