Where are the lease provisions for a Floyds 99 Franchised Location detailed?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
The lease for the Franchised Location shall contain provisions set forth in detail in the Operations Manual (defined in Section 8.1 below), which may include the following: (1) providing for an initial term, or an initial term together with any renewal terms (for which rent must be specified in the lease) of at least 10 years; (2) expressing the landlord's consent to the Franchisee's use of the Marks and all required signage for the Barbershop; (3) giving the Franchisor the right to enter the premises and make any modification necessary to protect the Marks and the Licensed Methods; (4) allowing the Franchisor, or its designee, to have the option to assume the lease and the right following such assumption to assign the lease or sublet the leased premises to another FLOYD'S 99 franchisee for all or any part of the lease term without further landlord consent if the Franchisee defaults under the lease or this Agreement or if this Agreement terminates or expires; (5) requiring the landlord to give the Franchisor written notice of any defaults by the Franchisee under such lease and the right to cure any such defaults; and (6) the lease shall also contain restrictive use clauses which are acceptable to the Franchisor.
The Franchisor reserves the right to require the Franchisee to use the Franchisor's standard form of lease instead of adding the required provisions to the landlord's form of lease, in the Franchisor's sole discretion.
The lease shall be conditionally assigned to the Franchisor as security for the Franchisee's timely performance of all obligations under this Agreement and the lease.
The Franchisee shall enter into Franchisor's standard Conditional Assignment of Lease.
Source: Item 22 — CONTRACTS (FDD pages 57–58)
What This Means (2025 FDD)
According to Floyds 99's 2025 Franchise Disclosure Document, the lease provisions for a franchised location are detailed in the Operations Manual. Specifically, the lease for the Franchised Location must contain provisions outlined in the Operations Manual.
The FDD states that these provisions may include several stipulations. First, the lease should provide for an initial term, or an initial term together with any renewal terms (for which rent must be specified in the lease) of at least 10 years. Second, the lease should express the landlord's consent to the Franchisee's use of the Marks and all required signage for the Barbershop. Third, the lease should give Floyds 99 the right to enter the premises and make any modification necessary to protect the Marks and the Licensed Methods.
Additionally, the lease should allow Floyds 99, or its designee, to have the option to assume the lease. It also allows the right following such assumption to assign the lease or sublet the leased premises to another Floyds 99 franchisee for all or any part of the lease term without further landlord consent if the Franchisee defaults under the lease or this Agreement or if this Agreement terminates or expires. The lease should also require the landlord to give Floyds 99 written notice of any defaults by the Franchisee under such lease and the right to cure any such defaults; and the lease shall also contain restrictive use clauses which are acceptable to Floyds 99. Floyds 99 also reserves the right to require the Franchisee to use Floyds 99's standard form of lease instead of adding the required provisions to the landlord's form of lease, in Floyds 99's sole discretion. The lease shall be conditionally assigned to Floyds 99 as security for the Franchisee's timely performance of all obligations under this Agreement and the lease. The Franchisee shall enter into Floyds 99's standard Conditional Assignment of Lease.