To whom must a Floyds 99 franchisee report any changes to the ownership information?

According to Floyds 99's 2025 Franchise Disclosure Document, a franchisee must promptly provide the Franchisor with written notification if the information contained in the Statement of Ownership changes at any time during the term of the Franchise Agreement. The franchisee must also comply with the applicable transfer provisions contained in Article 17 of the agreement. The Statement of Ownership is attached to the Franchise Agreement as Exhibit III. If the franchisee is an entity, all of the owners of the franchisee must sign the Guaranty and Assumption of Franchisee's Obligations attached as Exhibit II.

This means that if there are any changes to who owns or controls the Floyds 99 franchise, the franchisee is obligated to inform Floyds 99 immediately in writing. This requirement ensures that Floyds 99 is always aware of the current ownership structure of each of its franchise locations. This is a standard practice in franchising, as franchisors typically want to maintain control over who is operating under their brand name.

It is important for prospective franchisees to understand this obligation, as failure to promptly report changes in ownership could potentially lead to a breach of the Franchise Agreement. Additionally, franchisees should familiarize themselves with Article 17 of the Franchise Agreement, which likely outlines the specific procedures and requirements for transferring ownership interests in the franchise. Prospective franchisees should carefully review Exhibits II and III to fully understand the obligations of the owners and the information required in the Statement of Ownership.