“…Wang, Zhu, and Terry (2008) use a historical account to chronicle franchising in China, noting that the term franchising did not exist a quarter of a century ago in that country, yet China has quickly emerged as a rapid-growth market for franchising. Cheng, Lin, Tu, and Wu (2007) used five case studies of Taiwanese franchisors to derive a five-stage model in which franchisors (1) create the business concept, (2) develop franchising domestically, (3) experiment with international franchises, (4) engage in active international franchising, and (5) develop into mature international franchisors.…”