Does the Floyds 99 development agreement specify that the transfer fee is non-refundable?

According to the 2025 Floyds 99 Franchise Disclosure Document, the development agreement specifies that all fees are nonrefundable once paid to Floyds 99. Specifically, this applies to initial franchise fees or Development Fees. The document states that under no circumstances will a developer be entitled to a refund, return, or rebate of any portion of these fees once paid.

This means that a prospective Floyds 99 developer should be certain of their ability to fulfill the development agreement before paying any fees, as these are nonrefundable. This is a standard practice in franchising, as these fees cover the franchisor's initial expenses in evaluating and setting up the franchisee.

However, it is important to note that this non-refundability clause applies specifically to initial franchise fees and Development Fees. The document also mentions a $5,000 extension fee for the second extension of the Development Schedule, which is also specified as non-refundable. Therefore, prospective developers should carefully consider their development timeline and financial situation before entering into a development agreement with Floyds 99.