What is the estimated range for insurance costs for a Floyds 99 franchise?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
ITEM 7. ESTIMATED INITIAL INVESTMENT
YOUR ESTIMATED INITIAL INVESTMENT
| Type of Expenditure | Amount | Method of Payment | When Due | To Whom Payment Is To Be Made |
|---|---|---|---|---|
| Signs | $14,000 – $55,000 | As incurre |
Source: Item 7 — ESTIMATED INITIAL INVESTMENT (FDD pages 20–24)
What This Means (2025 FDD)
According to Floyds 99's 2025 Franchise Disclosure Document, the estimated cost for insurance ranges from $2,000 to $3,000. This estimate covers the quarterly insurance premium for the insurance policies that Floyds 99 requires the franchisee to maintain. The FDD indicates that these costs are 'as incurred' and paid to 'Other Suppliers'.
It is important to note that this is just an estimate, and the actual insurance costs may vary. Floyds 99 advises prospective franchisees to contact their insurance agent to obtain a more accurate estimate of their insurance costs. Factors that can influence insurance costs include the location of the barbershop, the coverage levels selected, and the franchisee's insurance history.
Understanding the specific insurance requirements and obtaining accurate quotes is a crucial step in assessing the overall financial investment required to open a Floyds 99 franchise. Franchisees should factor in potential fluctuations in insurance premiums when planning their budget and ongoing operational expenses.