How long must the developer possess a copy of the Floyds 99 agreement before signing?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
If Floyd's 99 Franchising offers you a franchise, it must provide this Disclosure Document to you 14 calendar days before you sign a binding agreement with, or make a payment to, the franchisor or an affiliate in connection with the proposed franchise sale.
New York requires that we give you this Disclosure Document at the earlier of the first personal meeting or 10 business days before the execution of the franchise or other agreement or the payment of any consideration that relates to the franchise relationship. Michigan requires that we give you this Disclosure Document at least 10 business days before the execution of any binding franchise or other agreement or the payment of any consideration, whichever occurs first.
If Floyd's 99 Franchising does not deliver this Disclosure Document on time or if it contains a false or misleading statement, or a material omission, a violation of federal and state law may have occurred and should be reported to the Federal Trade Commission, Washington D.C. 20580 and the state agency listed on Exhibit A.
Source: Item 23 — RECEIPT (FDD pages 58–229)
What This Means (2025 FDD)
According to Floyds 99's 2025 Franchise Disclosure Document, prospective developers must receive the disclosure document at least 14 calendar days before signing a binding agreement or making a payment to Floyds 99 Franchising or its affiliates related to the franchise sale. This federally mandated 14-day review period allows potential franchisees to thoroughly examine the FDD and seek professional advice before committing to the franchise.
However, the FDD also notes that specific states have their own regulations regarding the disclosure period. For example, New York requires Floyds 99 to provide the disclosure document at the earlier of the first personal meeting or 10 business days before the execution of the franchise agreement or payment of any consideration. Similarly, Michigan mandates a 10 business day disclosure period before signing any binding agreement or making a payment, whichever comes first.
It is important for prospective Floyds 99 developers to be aware of both the federal and state regulations regarding disclosure requirements. If Floyds 99 Franchising fails to deliver the disclosure document on time, or if the document contains false, misleading, or omits material information, it could constitute a violation of federal and state law. In such cases, the FDD advises franchisees to report the issue to the Federal Trade Commission and the relevant state agency.