P

A pilot program is a small-scale test of a new franchise unit or system before full-scale implementation.

Proprietary technology is exclusive software, systems, or tools developed by a franchisor for franchisee use.

Performance benchmarks are standards used to evaluate the success and operational efficiency of franchise units.

A protected territory guarantees that no other franchise units will open within a specific geographic area.

A public offering allows a franchise to raise capital by selling shares to the public, typically in the stock market.