How many extensions to the Development Schedule can a Floyds 99 developer request?
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 can request up to two extensions of the Development Schedule. Each extension is for a period of six months.
The first extension is provided at no charge. However, if a developer requests a second extension, Floyds 99 requires a non-refundable $5,000 extension fee.
It's important to note that any extensions are subject to Floyds 99's extension policy, which may change and may require the developer to pay additional fees. If the developer fails to meet the Development Schedule, even with the approved extensions, it constitutes a material breach of the Development Agreement, which could lead to termination of the agreement or other actions by Floyds 99.