When is the Floyds 99 Development Area determined?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
The scope and term of any Development Agreement and the exact number of Barbershops to be developed is dependent on both your development plans and our determination, in our judgment, of your financial capability and qualifications to develop and operate multiple Barbershops within the Development Area. You must open at least two Shops under the Development Agreement. We do not typically grant franchise rights to own and operate a single FLOYD'S 99 Shop, but we may do so on a case-by-case basis as described below. Under the Development Agreement, you must develop, open and operate an agreed upon number of FLOYD'S 99 Shops located in the Development Area in accordance with an agreed upon development schedule (the "Development Schedule"). The size of the Development Area will vary depending on local market conditions and the number of Barbershops you plan to develop. The Development Area will be determined before you sign the Development Agreement. For each FLOYD'S 99 Shop that you develop under the Development Agreement, you must sign our then-current form of Franchise Agreement ("Franchise Agreement") that we offer to new franchisees, which may differ from the current form of Franchise Agreement which is attached to this Disclosure Document as Exhibit C. You will sign the Franchise Agreement for your first FLOYD'S 99 Shop at the same time that you sign the Development Agreement.
Source: Item 1 — THE FRANCHISOR AND ANY PARENTS, PREDECESSORS AND AFFILIATES (FDD pages 8–11)
What This Means (2025 FDD)
According to Floyds 99's 2025 Franchise Disclosure Document, the Development Area, which is the geographic area in which a franchisee can develop multiple Floyds 99 shops, is determined before the franchisee signs the Development Agreement. The size of the Development Area depends on local market conditions and the number of barbershops the franchisee plans to develop.
This means that prospective franchisees will know the specific geographic area they are responsible for developing before committing to the Development Agreement. This allows them to assess the market potential and competition in the area. It also allows Floyds 99 to evaluate the franchisee's plans and ensure they align with the brand's overall development strategy.
It is important to note that the Development Agreement requires franchisees to open at least two shops. The franchisee must also adhere to an agreed-upon development schedule. Additionally, for each shop developed under the Development Agreement, the franchisee must sign Floyds 99's then-current Franchise Agreement, which may differ from the one included in the Disclosure Document.