What must a Floyds 99 franchisee do to prove ownership of the shop to the Franchisor?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
The Franchisee shall at all times during the term of this Agreement own and control the FLOYD'S 99 Shop authorized hereunder.
Upon request of the Franchisor, the Franchisee shall promptly provide satisfactory proof of such ownership to the Franchisor.
The Franchisee represents that the Statement of Ownership, attached hereto as Exhibit
Source: Item 22 — CONTRACTS (FDD pages 57–58)
What This Means (2025 FDD)
According to the 2025 Floyds 99 Franchise Disclosure Document, franchisees must, at all times during the term of the agreement, own and control their Floyds 99 shop. To prove this ownership to Floyds 99, a franchisee must promptly provide satisfactory proof upon the franchisor's request.
As part of the franchise agreement, the franchisee also represents that the Statement of Ownership (Exhibit III) is true, complete, accurate, and not misleading. This statement confirms that the franchisee holds the controlling ownership of the Floyds 99 shop.
Furthermore, the franchisee is obligated to promptly notify Floyds 99 in writing if any information within the Statement of Ownership changes during the term of the agreement. In the event of such changes, the franchisee must also comply with the transfer provisions outlined in Article 17 of the agreement. If the franchisee is a business entity, all owners of the entity must sign the Guaranty and Assumption of Franchisee's Obligations, which is attached as Exhibit II.