Tooltips Archive - Page 10 of 32 - The Franchise Trainer
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December 21, 2019
Periodical Visits

Visits by the franchisor’s support team to the franchisees’ locations or market areas at regular intervals to offer refreshment training, ongoing support, and business auditing.

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December 21, 2019
Perbadanan Nasional Berhad

(PNS) Established in November 1969 in Kuala Lumpur, Malaysia, PNS is a wholly owned government company with the mandate to lead the development of Malaysia’s franchise industry and increase the number of franchise entrepreneurs through providing guidance and special schemes for franchisors and franchisees.

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December 21, 2019
Payback Period

The length of time required for an investment in a franchise business to recover its initial capital outlay in terms of accumulated profits.

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December 21, 2019
Patent

A type of intellectual property which provides the legal right to a corporation or an individual who owns an invention to prevent others from using or selling it for a period of time.

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December 21, 2019
Parties

The franchisor and the franchisee together, and “party” shall mean either one of the parties

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December 21, 2019
Outward Franchising

(Domestic to International) Outgoing franchise brands from a country to regional or international markets.

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December 21, 2019
Orphan Franchisees

Franchisees that are left without support after the franchisor company have closed own, liquidated, or dissolved due to financial problem and mismanagement. In this case, the franchisees may elect to establish an operating company between them to manage the business and the network of franchisees.

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December 21, 2019
Organic Growth

A stage where a franchisor focuses on gradual growth of existing systems and increasing sales, by way of opening new owned units, introduction of new products/services, exploring new customer segments, increasing market share and through franchising or licensing.

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December 21, 2019
Option of the First Right of Refusal

A time-bonded option which may be granted by a franchisor to a franchisee to obtain the franchise rights for an additional location or territory.

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December 21, 2019
Operating Manual

The franchisor’s confidential workbooks and documents and material that contains information, forms and requirements for the establishment and operation of the franchise business in the franchised market.

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