According to the Floyds 99 franchise agreement, what is the Program used for?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
- 6.1 Initial Training Program.
The Franchisee, if the Franchisee is an individual, or the principal owner of the Franchisee entity, or, if the Barbershop governed by this Agreement is not the first Barbershop developed by the Franchise or an affiliate, the individual designated by the Franchisee to assume primary responsibility for the overall management of the FLOYD'S 99 Shop (the "Principal Manager"), must attend the initial training program which is conducted by the Franchisor at one of the Franchisor's designated training facilities.
Successful completion of the initial training program by the Principal Manager is a prerequisite to perform the duties of the Principal Manager.
The Franchisor permits the attendance of two management-level individuals in the Franchisor's initial training program without the imposition of any tuition or fee.
However, the Franchisee is responsible for any and all traveling expenses, living expenses and wages incurred by the Franchisee and its emplo
Source: Item 22 — CONTRACTS (FDD pages 57–58)
What This Means (2025 FDD)
According to the 2025 Floyds 99 Franchise Disclosure Document, the Program refers to the initial training program that the franchisee or the Principal Manager must attend. This program is conducted by Floyds 99 at one of their designated training facilities. Successful completion of this initial training program by the Principal Manager is a prerequisite to performing their duties.
Floyds 99 permits two management-level individuals to attend the initial training program without any tuition or fees. However, the franchisee is responsible for all traveling expenses, living expenses, and wages incurred by the franchisee and their employees during the training program.
Additionally, Floyds 99 may make the initial training program available to replacement or additional Principal Managers and Barbershop managers during the term of the Franchise Agreement. Floyds 99 reserves the right to charge a tuition or fee in an amount payable in advance, commensurate with the then-current published prices for such training. The availability of the training programs is subject to space considerations and prior commitments to new Floyds 99 franchisees.