Besides Lefty's and Elevate, is Floyds 99 currently affiliated with any designated or approved suppliers?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
purchase some or all of the items or services used in your Barbershop from us or our affiliates upon 30 days' written notice to you.
Other than Lefty's and Elevate, we are not currently affiliated with any designated or approved suppliers. Three of our officers are also officers of Holdings and Lefty's, but none of our officers own an interest in Lefty's, a wholly owned subsidiary of Holdings. Three of our officers own an interest in Holdings, the parent of Lefty's. Three of our officers also own minority interests in Elevate. FFL, on behalf of itself and its affiliates, reserves the right to sell products, equipment, supplies and services to franchisees and to derive revenue from such sales. Lefty's currently manufactures Proprietary Items for sale in the Barbershops and Elevate currently provides information technology services to franchisees. For the fiscal year ending December 31, 2024: (1) Lefty's revenues related to purchases of Proprietary Items by our franchisees was $722,268, or 33% of Lefty's total revenue of $1,956,463, and (2) Elevate's revenues from purchases made by our franchisees was $131,040, or 31% of Elevate's total revenue of $422,811. We estimate that the costs of your purchases from designated or approved sources, or according to our standards and specifications, may range from 50% to 75% of the total
Source: Item 8 — RESTRICTIONS ON SOURCES OF PRODUCTS AND SERVICES (FDD pages 24–29)
What This Means (2025 FDD)
According to Floyds 99's 2025 Franchise Disclosure Document, the company is not currently affiliated with any designated or approved suppliers other than Lefty's and Elevate. However, Floyds 99 does have officers with ownership interests in Holdings, the parent company of Lefty's, and minority interests in Elevate. Lefty's manufactures proprietary items for sale in the barbershops, while Elevate provides information technology services to franchisees.
For the fiscal year ending December 31, 2024, Lefty's revenues from Floyds 99 franchisees totaled $722,268, representing 33% of Lefty's total revenue of $1,956,463. During the same period, Elevate's revenues from Floyds 99 franchisees amounted to $131,040, which was 31% of Elevate's total revenue of $422,811. Floyds 99 estimates that the cost of purchases from designated or approved sources, or according to their standards and specifications, could range from 50% to 75% of the initial cost to establish a shop. After the shop is established, the cost is estimated to be approximately 5% to 15% of the total operating costs.
Floyds 99 franchisees are required to purchase certain equipment, such as barber poles, barber chairs, waiting area chairs, and hair care supplies, directly from designated suppliers or through negotiated purchasing arrangements. Additionally, franchisees must purchase exterior signs from designated sign vendors, including neon signs, and obtain information technology services from designated or approved vendors like Vector Security for network services. A list of designated and approved suppliers, along with standards and specifications for items used in the shop and criteria for supplier approval, will be provided to franchisees before the initial training program or during lease negotiations for subsequent barbershops.
Floyds 99 reserves the right to sell products, equipment, supplies, and services to franchisees and to derive revenue from such sales. They also reserve the right to require franchisees to purchase certain items directly from them or Holdings if they purchase such items in bulk. While Floyds 99 and its affiliates are not currently approved or designated suppliers of any items or services franchisees are required to purchase, except for Elevate and Lefty's, they reserve the right to become suppliers upon 30 days' written notice.