What is the deadline for a Floyds 99 franchisee to execute the renewal Franchise Agreement?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
- 19.3 Rights Upon Expiration. At the end of the initial term hereof, the Franchisee shall have the option to renew its franchise rights for an additional term, by acquiring successor franchise rights, if the Franchisor does not exercise its right not to offer a successor franchise in accordance with Section 19.5 below and if the Franchisee:
- a. At least 30 days prior to expiration of the term, executes the form of Franchise Agreement then in use by the Franchisor;
- b. Has substantially complied with all provisions of this Agreement during the current term, including the payment on a timely basis of all Royalties, National Marketing Contributions and other fees due hereunder. "Compliance" shall mean, at a minimum, that the Franchisee has not received any written notification from the Franchisor of breach hereunder more than four times during the term hereof;
- c. Upgrades and/or remodels the FLOYD'S 99 Shop and its operations at the Franchisee's sole expense (the necessity of which shall be in the sole discretion of the Franchisor) to conform with the then current Operations Manual;
Source: Item 22 — CONTRACTS (FDD pages 57–58)
What This Means (2025 FDD)
According to the 2025 Floyds 99 Franchise Disclosure Document, a franchisee who wishes to renew their franchise rights for an additional term must execute the then-current Franchise Agreement form at least 30 days prior to the expiration of the current term. The initial term of the Franchise Agreement is 10 years.
In addition to executing the renewal agreement at least 30 days prior to the expiration of the term, the Floyds 99 franchisee must have substantially complied with all provisions of the current agreement, including timely payments of all royalties, national marketing contributions, and other fees. Substantial compliance means the franchisee has not received more than four written notifications of breach from Floyds 99 during the current term.
The Floyds 99 franchisee must also upgrade or remodel the shop at their own expense to conform to the then-current Operations Manual. The necessity of these upgrades or remodels is determined at the sole discretion of Floyds 99. Meeting all of these conditions ensures the franchisee can exercise their option to renew the franchise for an additional term.