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The operations manual is a comprehensive guide outlining the procedures and systems for running a franchise.

An owner-operator is a franchisee who directly manages their franchise, as opposed to being absentee.

Ongoing royalties are payments made by the franchisee to the franchisor based on a percentage of sales.

Onboarding is the process of training and integrating a new franchisee into the system.

Owner’s equity represents the ownership stake that franchisees have in their business after liabilities are subtracted.