What is the fee for the second extension to the Floyds 99 development schedule, if granted?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
e periods mandated by the Development Schedule. Developer's failure to adhere to the Development Schedule (including any extensions approved by Franchisor in writing) will constitute a material breach of this Agreement.
- 5.2 Effect of Failure. Strict compliance with the Development Schedule is of the essence. If Developer fails to construct and open any FLOYD'S 99 Shop o
Source: Item 23 — RECEIPT (FDD pages 58–229)
What This Means (2025 FDD)
According to the 2025 Floyds 99 Franchise Disclosure Document, a developer who fails to meet the development schedule may request up to two extensions, each lasting six months. The first extension is provided at no charge. However, if a second extension is granted by Floyds 99, the developer must pay a non-refundable $5,000 extension fee.
This policy incentivizes developers to adhere to the initial development schedule. The fee for the second extension is non-refundable, meaning that even if the developer still fails to meet the revised schedule after the extension, the $5,000 will not be returned.
It's important to note that Floyds 99's willingness to grant extensions is not guaranteed. The franchisor maintains the right to refuse an extension request. Additionally, any extensions are subject to Floyds 99's extension policy, which may change over time and could potentially involve additional fees beyond the stated $5,000.