Does the Floyds 99 franchisee need to live in the development area for their shops?

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 15 — OBLIGATION TO PARTICIPATE IN THE ACTUAL OPERATION OF THE FRANCHISE BUSINESS (FDD pages 43–44)