factual

What documents does Floyds 99 Franchising, LLC require the Prospective Franchisee and Management Personnel to sign according to the Notice of Restrictive Covenants?

Floyds_99 Franchise · 2025 FDD

Answer from 2025 FDD Document

This is a Notice of Restrictive Covenants ("Notice") that Floyd's 99 Franchising, LLC ("Franchisor") requires the undersigned prospective franchisee (the "Prospective Franchisee") and the undersigned Prospective Franchisee's management personnel (which includes, the Principal Manager, Barbershop manager and owners of Prospective Franchisee; collectively, the "Management Personnel") to sign. Prospective Franchisee and Management Personnel have received the following documents:

    1. A Development Agreement ("Development Agreement"), the form of which is attached as Exhibit B to the Franchise Disclosure Document ("FDD").
    1. A Franchise Agreement ("Franchise Agreement"; the Development Agreement and Franchise Agreement are collectively referred to as the "Agreements"), the form of which is attached as Exhibit C to the FDD provided to Prospective Franchisee as noted above. The Agreements were provided to Prospective Franchisee as a condition of purchasing a franchise on ________, 20.
    1. The Nondisclosure and Noncompetition Agreement ("NDA"), a form of which is attached as Exhibit I to the FDD, is provided to the Prospective Franchisee and the Management Personnel.

This Notice is attached to the FDD as Exhibit M. Initial capitalized terms not defined in this Notice have the respective meanings set forth in the Franchise Agreement.

Source: Item 23 — RECEIPT (FDD pages 58–229)

What This Means (2025 FDD)

According to Floyds 99's 2025 Franchise Disclosure Document, the Notice of Restrictive Covenants states that Floyds 99 Franchising, LLC requires both the prospective franchisee and their management personnel to sign certain documents. Management personnel includes the Principal Manager, Barbershop manager, and owners of the Prospective Franchisee.

The documents that the Prospective Franchisee and Management Personnel must sign include: a Development Agreement, the form of which is attached as Exhibit B to the FDD; a Franchise Agreement (collectively with the Development Agreement referred to as the Agreements), the form of which is attached as Exhibit C to the FDD; and a Nondisclosure and Noncompetition Agreement (NDA), a form of which is attached as Exhibit I to the FDD.

These Agreements are provided to the Prospective Franchisee as a condition of purchasing a franchise. The Notice of Restrictive Covenants itself is attached to the FDD as Exhibit M. It is important for prospective franchisees and their management personnel to carefully review these documents and understand their obligations before signing.

Disclaimer: This information is extracted from the 2025 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.