Webinars are brilliant tools that offer a cost-effective way to meet with hundreds of people at once. To get the most out of your next webinar, check out these 10 tips for success.

1. Schedule for certain days in the week. To ensure good attendance, avoid Mondays and Fridays.

2. Send invitations early -- but NOT too early. Start offering email registrations about 2 weeks in advance so participants can work it into their schedules.

3. Keep it short. The world moves faster on the Internet. The best format is 30-45 minutes for the presentation and 15 minutes for Q&A. A very complex subject might take longer.

4. Remind…then remind again. Send 3 reminders starting a few days before, then one day before, and again one hour before the webinar.

5. Conduct a survey to set the agenda. Your prospects will tell what they want to see and hear whether it’s a new training topic or sales pitch.

6. Tech check. Have someone on your team dial in before the webinar starts to make sure the number is working properly. Then have this person submit a question so you know the interactivity is functioning and to see what it will look inside the webinar software.

7. Close ALL unnecessary applications—especially communications. You don’t want to be interrupted by incoming IM’s or email notifications. And you definitely don’t want any personal or confidential info to pop up.

8. Hold that door. Start 2 or 3 minutes past the hour to give people time to call in. But don’t start any later—people who are on time will get annoyed if they have to wait too long.

9. Be the first to arrive. Call into the meeting at least 15 minutes early to avoid annoying beeps and confusion. If you’re already there when people arrive, everyone will know they’re in the right place.

10. Strike while the iron is hot. Quickly follow up while the webinar is still fresh in everyone’s mind. A fast follow up helps motivate people to take a next step.

Hot Technology Tools for Your Franchise Part 1

This month, we take a look at some hot technologies that can help boost franchise sales while saving time and money. Historically, training sessions and sales presentations have been tied to physical locations. But before you pack your bags and head for another boring hotel room, consider hosting a webinar (aka web conferencing). All you need is a computer and a telephone to host web-based events for up to 1,000 people—without leaving home.

How do webinars fit into the franchise industry? We talked to Mike Ligon of ReadyTalk, a web conferencing provider to find out. Ligon has been helping franchise organizations utilize this new technology for the past 6 years. “Franchise organizations are using webinars for three main purposes,” says Ligon, “company-wide communications, sales, and training.”

ReadyTalk has coined its own term for franchise sales presentations: “Virtual Discovery Day.” Ligon says, “Franchisors no longer have to entice potential franchisees to travel to a physical location to learn about the opportunity. With a webinar, all franchisors have to do is email franchise candidates a specific toll free phone number and an access code.” There are no downloads or special technical requirements other than Java (an application native to most computers).

The time and cost saving benefits can be substantial. Consider FASTSIGNS, a franchise that averages 8-10 webinars a month by doubling up on “Training Thursdays.” With 450 stores in 6 different countries, the cost savings are tremendous—about $3000 to connect franchisees online versus $15,000 just to rent the hotel rooms. Plus, the company gets the competitive edge by being able to train its operators so quickly.

More savings accumulate when the webinars are archived. “It becomes a powerful training application, especially for franchising,” says Ligon. “As you’re bringing on units, you can record the webinar training sessions. You no longer have to do a live training every time you bring a new store into the system. Simply send them the link to the training topic. With each new webinar, you’re building a library of content on the Internet.”

Ligon says anyone can look like a pro the first time out. “We provide a white glove approach. It’s not, ‘here’s your access code, good luck.’ Our event team will hold your hand all the way through your first event and provide support for ongoing events. That includes everything from training all of your speakers to conducting dry runs. Even if it’s your first time, the general public will think you’ve been doing this for years.”

For more info:
www.ReadyTalk.com
800-843-9167

June 30, 2008 - Goodbye UFOC!

By: James A. Wahl

Since 1993, the Uniform Franchise Offering Circular (“UFOC”) has been the predominant format for providing pre-sale franchise disclosure information in the United States, accepted by all franchise registration states and approved by the Federal Trade Commission (“FTC”). As of July 1, 2008 however, the UFOC will no longer be legal tender for franchise disclosure purposes. After nearly 12 years of rulemaking activity, the FTC issued a revised rule entitled “Disclosure Requirements and Prohibitions Concerning Franchising” (the “New FTC Rule”) in 2007. Ending a one-year phase-in period, the New FTC Rule’s Franchise Disclosure Document (“FDD”) format becomes the only permitted form of franchise disclosure on July 1.

Any franchisor that has not updated its UFOC to the FDD format and has not had the updated FDD document approved by the registration states by July 1 will be unable to legally offer or sell franchises. The FDD format requires document revisions and disclosure of new information in certain areas. Plus, many of the registration states are experiencing slower turn-around times on applications while familiarizing themselves with the FDD requirements.

For those who have not yet begun the redrafting process, some of the more significant areas in which the FDD format requires new or revised disclosures include:

• Item 3: All material civil actions involving the franchise relationship initiated by the franchisor during the previous fiscal year must be disclosed.

• Item 5: The definition of “Initial Fees” is expanded to include all pre-opening payments by the franchisee for goods or services provided by the franchisor or any affiliate.

• Item 11: There are several changes to the information that must be disclosed concerning training, advertising, computer system requirements and other franchisor obligations.

• Item 19: The title is changed to “Financial Performance Representations,” and specified negative disclosure language is required.

• Item 20: Tables showing status information for franchised and company-owned outlets have been revised, new tables added, and additional information on franchise status is required.

• Receipts: Contact information for all individuals involved in the franchise sale must be disclosed.

In addition to these and other new disclosure requirements, the FDD changes certain mechanics of the franchise disclosure process, including most notably the following:

• The “first personal meeting” and “ten business day” disclosure requirements are eliminated; the FDD must be provided at least 14 calendar days before agreements are signed or money is paid (note that some states still have a “first personal meeting” requirement).

• Delivery of the FDD in electronic form is expressly authorized.

• Exemptions have been added for franchises with an initial investment exceeding $1 million, for franchisees with a net worth exceeding $5 million, and for franchises sold to an owner, officer or manager of the franchisor.

To avoid having to suspend franchise sales, franchisors must have the new FDD in place and approved by registration states before July 1, 2008. Any franchisors that haven’t yet started the conversion process should begin immediately!

Jim Wahl is the Co-Chair of the Intellectual Property and Franchise Departments at Krass Monroe, P.A., Minneapolis, Minnesota. Jim represents clients in all aspects of franchise, trademark, copyright and trade secret law, including trademark evaluation and clearance, branding issues, registration of trademarks and copyrights, franchising, licensing, technology, computer software, and enforcement of trademark, copyright, trade secret and related intellectual property rights. He has been recognized as a "Minnesota Super Lawyer" by Minnesota Law & Politics and a "Legal Eagle" by Franchise Times. He can be reached at 952-885-5991 or jwahl@krassmonroe.com.

New Wendy's CEO Promises Improvements, Better Franchisee Relations

The sale of Wendy's International Inc. to the Atlanta-based parent of the Arby's fast-food chain will mean changes in the short term but the CEO-to-be is predicting that the Arby's team will bring long-term improvements to the business. Triarc Companies Inc. CEO Roland Smith, who will take over the top spot at Wendy's once the $2.3 billion acquisition is completed, confirmed there likely will be job losses among the company's nearly 550 employees in Dublin, Ohio, but he could not say how many positions and from what departments the cuts would come. Smith will relocate to Central Ohio, where he will run both Arby's and Wendy's.

Atlanta-based Triarc (NYSE: TRY) is acquiring Dublin-based Wendy's (NYSE: WEN) in an all-stock deal that will create the third-largest quick-service restaurant company in the U.S., with almost $12.5 billion in annual sales. Wendy's has 6,622 restaurants, while Arby's has about 3,700 outlets. Smith said Triarc looks forward to building on Wendy's "proud heritage" and quality brand, but he sees several areas identified for improvement. According to Smith, margins on earnings before interest, taxes, depreciation and amortization need improvement, noting that Wendy's franchisees are outperforming company stores in that measure. The company believes Arby's strength is the restaurants' efficient operations. (Atlanta Business Chronicle, 4/25/08)

Two Fast-Casual Chains Hope to Overcome Slowdown through Franchising

Two Colorado-based fast-casual restaurant groups are betting that aggressive franchising will accelerate their growth beyond what their own capital allows at a time when tight credit and food inflation has many customers curtailing spending. Einstein Noah Restaurant Group Inc., based in Lakewood, CO., launched a new franchise program for its Einstein Bros. Bagels stores in December 2006. It had 337 Einstein Bros. Bagels stores at the end of its last fiscal year, and the first franchised Einstein Bros. store opened this month in Florida. Good Times Restaurants Inc., based in Golden, CO., wants to hasten its growth outside Colorado by franchising. About half its 52 stores are franchised, but CEO Boyd Hoback hopes to boost that percentage to 70 percent in five years. The chain hopes to have 100 restaurants overall by 2010.

Good Times started in 1987 as a double drive-through in Boulder, CO selling burgers and fries with an emphasis on quality, not price. Today, the 52-restaurant chain includes stores with plenty of tables for customers. Its menu has expanded to include frozen custards and chicken. Einstein Noah, whose history includes a run through bankruptcy court, has enough cash that it doesn't depend on credit markets. The restaurant group—whose brands include Einstein Bros. Bagels, Noah's New York Bagels, Manhattan Bagel Co., Chesapeake Bagel Bakery and New World Coffee—had 612 restaurants at the beginning of the fiscal year. While Manhattan Bagel is franchised, Einstein Bros. stores had been company owned. By this spring, Einstein Bros. had four franchise agreements for 29 stores in Florida, Arkansas, South Carolina and Georgia.
(The Denver Post, 4/28/08)

Carlson Hotels Plans Upscale, Luxury Expansion

Carlson Hotels Worldwide plans a resurgence of its Radisson brand in North America and the luxury Regent brand in Asia/Pacific, with more than 100 total properties in the works. Carlson's goal is to increase the upscale Radisson brand from about 200 current properties in the Americas to 300, particularly through growth in Latin America. There are about 400 Radisson properties worldwide.

While Radissons in Europe tend to be higher on the upscale spectrum, the brand has been working to improve its image in the Americas, removing a number of low-performing properties. The luxury Regent brand is also experiencing a rebirth.With a booming Asian hotel market, Regent has several new projects in the works, including properties under construction in Bangkok, Maldives and Manila.
( Business Travel News Online, 4/29/08)

Taco Bell Adds New Value Menu

Taco Bell will introduce a new value menu this month called Why Pay More?, executives of parent company Yum! Brands Inc. revealed recently. The chain will simultaneously roll out its previously announced new specialty beverage line. Taco Bell noted that the drinks will be marketed under the name Frutista Freeze. Yum! executives have previously described the drinks as fruit-based frozen treats.

The company did not divulge what items would make up the new value line. But Yum! chief executive David Novak commented that the array had been a success in tests, and described it as “the best amount of food for the money that there is in the industry.” (Nation’s Restaurant News, 4/23/08)


Ritter's Frozen Custard Sold to Multibrand Franchisor

The parent of the Wall Street Deli and Arthur Treacher’s Fish & Chips quick-service brands announced this month that it had added the Ritter’s Frozen Custard concept to its portfolio of restaurant holdings. Terms of the acquisition were not disclosed. Trufoods LLC, based in New York, also owns the Pudgie’s Famous Chicken brand. With the purchase of Indiana-based Ritter’s, the company operates or franchises 100 locations nationwide, with total systemwide sales for its various brands of $40 million, according to a statement from Trufoods.

NY-based Trufoods was acquired in November by Andy Unanue, who identifies himself as the grandson of Goya Foods’ founder. Ritter’s is the company’s first acquisition since the change in ownership. The immediate goal is to bring Wall Street Deli back to the Northeast, then focus on growing the Ritter’s, Pudgie’s and Arthur Treacher’s brands in markets where they already have existing locations. Nathan’s Famous Inc., franchisor of the namesake hot dog chain, said it also has rights to sell Arthur Treacher’s branded products.(Nation’s Restaurant News, 5/2/08)

Marriott Plans More Mideast Hotels

Marriott International of Bethesda will more than double the number of hotels it operates in the Middle East by 2011 as it seeks to expand in the region's fast-growing tourism market. Marriott, the world's largest lodging chain, will "sign new development agreements" to increase its portfolio of Middle East properties to 65 from 26. Marriott's local partners will invest in building most of the hotels, which the company will manage. Marriott's new Middle East properties will include a 250-room resort in Marsa Alam in Egypt that is expected to open in 2011. Marriott also plans to develop five properties in Saudi Arabia. (Washington Post, 4/22/08)