Capturing the essence of a successful business model
As a Franchisor (or soon to be Franchisor) your goal is to reduce the time it takes for potential Franchisees to begin to benefit from your business model, processes, and systems. If you have developed your own software solution to capture all of this information, then you are better positioned to help your franchisees succeed.
Building the value of your Franchise
Investors want to know the value of your IP. Developing a software solution allows you to capture this value and amplify it. Custom software that captures your franchise business model, practices and processes make it practical to expand your model rapidly. Investors recognise this and place more confidence in organisations with these capabilities.
If you have a software solution that captures your Franchising business model, processes, systems, and training, then you have a scalable business model. Custom software that captures the essence of your Franchise business model and provides you with centralised control and monitoring can be one of the smartest investments you will ever make.
Training is one of the essential pillars of Franchising. Whether it’s providing training to Franchisees or their staff, having a centralised system to manage and monitor training is paramount. By developing your own custom software solution, you can manage everything from customer service training through to OHS training, and everything in between. Your custom software can provide you with everything you need to manage compliance and training requirements and reporting. Redgum’s experience can help you deliver a training experience that achieves your goals.
Managing business processes
Whether you have simple or sophisticated business processes, you need a software solution that makes these methods readily available to Franchisees and their employees. Some out of the box solutions may help you partially capture your business processes, however if you want a solution that achieves exactly what you want, you will probably have to build it yourself. Your custom software can also help you maintain visibility of your entire Franchisee network, empowering you to develop a greater understanding of the challenges and opportunities you face. Redgum can assist you to scope and build a software solution that is a perfect fit for your business processes. As your business evolves, Redgum works with you to upgrade your software to reflect your new requirements.
Your end customers are what drive your entire franchise model and the fewer barriers there are between you and your Franchisee’s, the more opportunities you retain and build your customer base. Custom software development allows you to deeper integrate customers into your franchise model. Once you begin to collect and manage customer data, you then have the option of using this data to refine or build new business, training, and marketing models.
Simply by streamlining communication, your custom software solution can allow you to improve customer and Franchisees’ satisfaction levels dramatically. Building your own software allows you to create a communication loop and escalation model that reflects the needs of your clients and Franchisees.
Streamline supplier relationship
Building your own software allows you to create integration points with your suppliers. Streamline how Franchisee’s order products and consumables and automate alerts, approvals, and reports, in a way that improves the efficiency of your entire team.
Scoping your Franchising software
Redgum’s Redprint™ solution has been designed to help Franchisors make their franchise models readily available to Franchisees. The Redgum team works with you to develop a scoping document that captures every aspect of your Franchise. Redprint™ provides you with a software development roadmap, which includes timelines and resource requirements. It even outlines a minimal commercialisation model of your software, allowing you to bring your solution to market faster and with a smaller investment. Redprint™ also provides a stage development process to meet with your business and resource requirements.
Build you IP portfolio
Almost as important as capturing your business model, Redprint™ helps you to build and value your IP portfolio. Redprint™ provides ‘best practice’ documentation of your software. This allows you to value and protect your software IP. This documentation is also essential if you need to engage others to make upgrades or integration with your software.
You may want to implement new business processes, but need a testing environment before you roll it out across your entire Franchisee network. Redgum provides a testing environment that allows you to try and adapt new business process, without impacting your Franchisee network. This environment provides you reduced risk associated with implementing new business practices while enabling you to bring new ideas and models to market faster.
Return on Investment
Regarding Return On Investment, there is little that you can do within your Franchisee that will deliver greater or faster rewards than to build a custom software solution that captures your entire business model.