What does Article 5 of the Floyds 99 Franchise Agreement cover?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
5. DEVELOPMENT OF FRANCHISED LOCATION
5.1 Approval of Franchised Location. Within two hundred seventy (270) days after the date of execution of this Agreement, the Franchisee shall locate a Franchised Location which is suitable for the operation of the FLOYD'S 99 Shop, have it approved by the Franchisor and sign the lease. If the Franchisee has made reasonable and continuing efforts to locate a Franchised Location, but site availability considerations beyond the control of the Franchisee prevent the selection of a suitable site, the Franchisor will extend the deadline to select a Franchised Location for a reasonable time if the Franchisee requests, in writing, an extension of the time to have the Franchised Location selected before such selection period lapses. The Franchisee shall follow the Franchisor's site selection procedures in locating a Franchised Location for the FLOYD'S 99 Shop, including using the Franchisor's designated site selection service provider to assist the Franchisee in finding a Franchised Location. The Franchisee shall seek the Franchisor's approval of any site proposed as a Franchised Location, by submitting a complete site submittal package, including demographics and other materials requested by the Franchisor, containing all information reasonably required by the Franchisor to assess a proposed Franchised Location. The Franchisor will not unreasonably withhold approval of a proposed site that meets all of the Franchisor's site selection criteria. The Franchisee acknowledges and agrees that the Franchisor's approval of a site and any information provided by the Franchisor regarding the site does not constitute a representation or warranty of any kind, express or implied, as to the suitability of the site for a FLOYD'S 99 Shop. If the Franchisor must disapprove of any site proposed by the Franchisee, the Franchisor will grant the Franchisee an additional, reasonable period of time to obtain approval of a Franchised Location, as may be determined in the Franchisor's reasonable business judgment.
- 5.2 Approval of Site Acquisition or Lease.
The Franchisee shall obtain the Franchisor's prior written approval before executing any lease, including all lease amendments, for the Franchised Location.
Source: Item 22 — CONTRACTS (FDD pages 57–58)
What This Means (2025 FDD)
According to the 2025 Floyds 99 Franchise Disclosure Document, Article 5 of the Franchise Agreement pertains to the development of the franchised location. Specifically, it outlines the process and requirements for selecting and approving a site for the Floyds 99 shop.
Within 270 days of signing the Franchise Agreement, the franchisee must find a suitable location, get it approved by Floyds 99, and sign the lease. If the franchisee faces site availability issues beyond their control, Floyds 99 may grant an extension if requested in writing. The franchisee is expected to follow Floyds 99's site selection procedures, including using their designated site selection service provider.
The franchisee must seek Floyds 99's approval for any proposed site by submitting a complete package with demographics and other required information. Floyds 99 will not unreasonably withhold approval if the site meets their criteria. However, Floyds 99's approval doesn't guarantee the site's suitability. The franchisee must also obtain Floyds 99's written approval before signing any lease or amendments for the location.