What is the 'Development Schedule' for Floyds 99 franchisees?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
We offer qualified applicants the right to enter into a Development Agreement (the "Development Agreement"), attached as Exhibit B to this Disclosure Document, to develop multiple FLOYD'S 99 Shops within a designated geographic area (the "Development Area"). 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 the 2025 Floyds 99 Franchise Disclosure Document, Floyds 99 offers a Development Agreement to qualified applicants, allowing them to develop multiple Floyds 99 shops within a specific geographic area. The exact number of barbershops to be developed, the scope, and the term of the Development Agreement depend on the applicant's development plans and Floyds 99's assessment of their financial capability and qualifications. A minimum of two shops must be opened under the Development Agreement.
The Development Agreement includes an agreed-upon development schedule, dictating when and how the franchisee will open and operate Floyds 99 shops within the designated area. The size of the development area varies based on local market conditions and the number of barbershops the franchisee intends to develop. This area is determined before the franchisee signs the Development Agreement.
For each Floyds 99 shop developed under the Development Agreement, the franchisee must sign Floyds 99's then-current form of Franchise Agreement. This agreement may differ from the one attached as an exhibit to the FDD. The Franchise Agreement for the first Floyds 99 shop is signed at the same time as the Development Agreement. This structure allows Floyds 99 to maintain control over the expansion of its brand while providing franchisees with the opportunity to grow their business within a defined territory, subject to meeting the agreed-upon development schedule.