According to the Floyds 99 Development Agreement, what is Exhibit I?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
ment, questionnaire, or acknowledgment signed or agreed to by a franchisee in connection with the commencement of the franchise relationship shall have the effect of (i) waiving any claims under any applicable state franchise law, including fraud in the inducement, or (ii) disclaiming reliance on any statement made by any franchisor, franchise seller, or other person acting on behalf of the franchisor. This provision supersedes any other term of any document executed in connection with the franchise.
[Signature Page to Follow]
IN WI
Source: Item 23 — RECEIPT (FDD pages 58–229)
What This Means (2025 FDD)
According to Floyds 99's 2025 Franchise Disclosure Document, Exhibit I to the Development Agreement outlines the Development Fee, Development Schedule, and Development Area. This exhibit specifies the amount of the development fee that the developer must pay to Floyds 99. It also details the geographic area that the developer is responsible for developing with Floyds 99 Barbershop locations.
Furthermore, Exhibit I includes the development schedule, which sets deadlines for opening a minimum total number of barbershops within the designated development area. This schedule is a critical component of the agreement, as it sets the expectations for the pace of expansion. The exhibit also includes signature lines for both Floyds 99 Franchising, LLC and the developer, indicating their agreement to the terms outlined in the exhibit.
For a prospective Floyds 99 developer, Exhibit I is a key document that defines the financial commitment, geographic territory, and timeline for opening new barbershops. Understanding these elements is crucial for assessing the feasibility and potential return on investment of the development agreement. Developers should carefully review this exhibit to ensure they can meet the specified development schedule and manage the associated costs.