What is the length of each extension to the Floyds 99 development schedule that the franchisor may grant?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
- (c) grant Developer, upon Developer's reasonable request, up to two (2) extensions of the Development Schedule, each for a period of six (6) months. If Franchisor agrees to provide any extensions, the first extension will be provided at no charge and the second extension, if also provided, will be subject to Developer's payment of a non-refundable $5,000 extension fee; or
Any extensions of the time periods to open the Barbershops are subject to Franchisor's extension policy, which may change from time to time and may require Developer to pay additional fees to Franchisor.
Source: Item 23 — RECEIPT (FDD pages 58–229)
What This Means (2025 FDD)
According to the 2025 Floyds 99 Franchise Disclosure Document, a developer who is not adhering to the development schedule may be granted extensions. Specifically, Floyds 99 may grant up to two extensions of the development schedule, each for a period of six months.
The first extension is provided at no charge. However, if a second extension is granted, the developer must pay a non-refundable $5,000 extension fee to Floyds 99.
It's important to note that any extensions are subject to Floyds 99's extension policy, which may change over time and may require the developer to pay additional fees. This implies that the terms and costs associated with extensions could vary, so developers should stay informed about the current policy.