When does the Floyds 99 Development Agreement term end?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
3.1 Term. The term of this Agreement shall commence as of the date of execution hereof and shall end on the earlier of the last Development Deadline set forth in Section 5.1 below or the date on which the last Barbershop set forth in Section 5.1 below opens for business. After expiration of the term, or earlier termination of this Agreement as provided below, Franchisor shall have the right to establish, or license any other party to establish Barbershops anywhere within the Development Area; provided, however, that Developer's Protected Territory as defined in the Franchise Agreement(s) executed hereunder, will remain in effect for the term of the Franchise Agreement(s), unless sooner terminated.
Source: Item 23 — RECEIPT (FDD pages 58–229)
What This Means (2025 FDD)
According to the 2025 Floyds 99 Franchise Disclosure Document, the Development Agreement term begins on the execution date and concludes on the earlier of two conditions: either the last Development Deadline outlined in Section 5.1 or the date when the final barbershop specified in Section 5.1 opens.
Upon the expiration or earlier termination of the agreement, Floyds 99 has the right to establish or license others to establish barbershops within the Development Area. However, the Developer's Protected Territory, as defined in the Franchise Agreements, remains effective for the Franchise Agreement's term unless terminated sooner.
This means a prospective Floyds 99 developer needs to carefully review Section 5.1 of the Development Agreement to understand the specific deadlines for opening new locations. The end date of the Development Agreement is directly tied to meeting these development milestones. Failure to meet these deadlines could result in the termination of the agreement and loss of development rights, even if the individual franchise agreements remain in effect within their protected territories.