Tooltips Archive - Page 6 of 32 - The Franchise Trainer
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December 21, 2019
Store Trading Area

Defining the geographical area where the franchise store is protected from opening another nearby corporate owned or franchised location. The store trading area can be defined by a number of methods including a specific radius from the location, mall boundaries, commercial or residential clusters, postal codes, municipality boundaries and natural boundaries.

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December 21, 2019
Store Opening Algorithm

A step-by-step drawing showing the method of building a franchised unit.

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December 21, 2019
STEP Analysis

STEP is an acronym for political, economic, social, and technological which is a risk assessment in a pre-entry study for a franchised business in a new country or market area to identify the challenges that must be addressed before the franchisor decides whether or not to enter the market.

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December 21, 2019
Start Your Own Business

A catch phrase used by franchisor companies in marketing their franchise opportunities to encourage prospective individual franchisees to obtain the franchise rights of their brands.

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December 21, 2019
Standard Operating Procedures

(SOPs) Compiled by the franchisor in the form of operating manuals, SOPs are step-by-step instructions and guidelines that define the means and methods to attend to the day-to-day management and operation of a franchised business for the purpose of maintaining quality, efficiency and consistency of work standards and brand integrity.

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December 21, 2019
South African Franchise Association

(FASA) A trade association for franchisors, franchisees and the professional organizations that service the franchise industry. Its aim is to develop and safeguard the business environment for ethical franchising in South Africa.

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December 21, 2019
Small Business Administration

(SBA) Established in 1953 SBA is an autonomous U.S. government agency with the mandate to bolster and promote the economy in general by helping small businesses by providing counseling to entrepreneurs to start and grow their own businesses.

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December 21, 2019
Single Unit Franchising

The non-exclusive right to establish and operate one franchised location.

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December 21, 2019
Singapore Franchise Association

(FLA) Established in 1993 with the mission to nurture and develop Singapore’s franchising industry and promote and facilitate the use of franchising, licensing, and branding as a growth strategy for Singapore franchise companies, thus contributing to turning Singapore as a regional franchise and license hub.

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December 21, 2019
Service-Oriented Franchise Brands

Franchise businesses which provides a professional service to customers such as real estate, property management, maintenance, commercial and residential cleaning, automotive services, transportation, courier & haulage and fitness, health & beauty services.

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