I came across an interesting question today, the user was not able to find Term Store Management link under Site Settings.
I investigated it further and verified that it was not available to one of my site collection even if an appropriate Service Application was running fine and associated with my Web Application.
As usual, I went to the “SharePoint Root” to go to the “root of the problem” and found that the link is being made available by a FEATURE named “TaxonomyFieldAdded” and the stapling was made by FEATURE named “TaxonomyFeatureStapler”. I found that the Stapling FEATURE did not include Blank site template… Remember! it includes GLOBAL site template which includes everything but the blank site template!
So there it is! If you create your site collection using Blank site template, “Term Store Management” link will not be available in Site Settings.. Hope this was helpful!