Does the Floyds 99 Franchise Agreement require an addendum?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
er any applicable state franchise law, including fraud in the inducement, or (ii) disclaiming reliance on any statement made by any franchisor, franchise seller, or other person acting on behalf of the franchisor. This provision supersedes any other term of any document executed in connection with the franchise.
[Signature Page to Follow]
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above set forth.
FLOYD'S 99 FRANCHISING, LLC (Print Name) Individually Address: City: State: Zip: OR: (if a corporation or partnership) Company Name Address: City: State: Zip:
EXHIBIT I TO FRANCHISE AGREEMENT
ADDENDUM TO FLOYD'S 99 FRANCHISING, LLC FRANCHISE AGREEMENT
- Franchised Location. The "Franchised Location," set forth in Section 3.1 of the Agreement shall be:; OR Designated Area. The Franchisor and the Franchisee acknowledge that the Franchised Location cannot be designated in Section 1 above as a specific address because the location has not been selected and approved; therefore, within 90 days following the date of the Agreement, the Franchisee shall choose and acquire an approved location for its FLOYD'S 99 Shop within the following geographic area ("Designated Area"): 2. Agreement shall be Protected Territory. described as The "Protected Territory" referred to in Section 3.2 of the 3. Initial Franchise Fee. The Franchisee shall pay to the Franchisor an initial franchise fee of $, due and payable in the manner set forth in Section 4.1 of the Agreement. 4. based on its o
Source: Item 22 — CONTRACTS (FDD pages 57–58)
What This Means (2025 FDD)
According to the 2025 Floyds 99 Franchise Disclosure Document, the franchise agreement includes an addendum. Specifically, Exhibit I to the Franchise Agreement is titled "ADDENDUM TO FLOYD'S 99 FRANCHISING, LLC FRANCHISE AGREEMENT." This addendum addresses key aspects of the franchise, such as the franchised location and the initial franchise fee.
The addendum includes a section for specifying the franchised location, referencing Section 3.1 of the agreement. If the location is not yet determined, the addendum allows for designating a specific geographic area within which the franchisee must choose and acquire an approved location within 90 days of the agreement date. The addendum also confirms that the franchisee will pay an initial franchise fee, as detailed in Section 4.1 of the agreement.
Furthermore, the addendum includes an acknowledgement that Floyds 99's approval of a site does not constitute a warranty regarding the site's suitability or profitability. The franchisee is responsible for independently investigating the suitability of the location. There is also a "RIDER TO ADDENDUM - LOCATION APPROVAL," suggesting that additional stipulations or modifications related to location approval may be appended to the addendum.
In summary, the Floyds 99 franchise agreement utilizes an addendum to specify key terms such as location and initial fees, and to clarify the responsibilities of both the franchisor and franchisee regarding site selection and suitability. Prospective franchisees should carefully review this addendum and any associated riders to fully understand their obligations and the franchisor's role in the location approval process.