Are the POS system payments for a Floyds 99 refundable once paid?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
Note 5: Point-of-Sale System, Software, Office Equipment, Audio/Video, IT and Electronics. This item includes the estimated costs to purchase and license one computerized point-of-sale (POS) system (which currently includes one laptop, one desktop computer, and a desktop monitor) and payment for certain customized software and related hardware that you will use in every Barbershop. Unless otherwise specified, one half of the costs for your point-of-sale system, software, office equipment, audio/video, IT and electronics are due when you order these items and the other half of these costs are due upon delivery of these items to you. Approximately two months before your Barbershop opens, you will pay a $299 set up fee to our designated supplier to configure your POS system at your Barbershop. Any custom reports or other enhancements you request from the POS System provider (which are specific to your Shop) are at your expense and would raise the estimates provided in this item. Additionally, you will pay a license fee to our designated supplier in the amount of $2,700 (annual lic
Source: Item 7 — ESTIMATED INITIAL INVESTMENT (FDD pages 20–24)
What This Means (2025 FDD)
According to the 2025 Floyds 99 Franchise Disclosure Document, payments for the Point-of-Sale (POS) system are non-refundable once paid. This includes the costs to purchase and license the computerized POS system, which includes a laptop, desktop computer, and monitor, as well as customized software and related hardware. Franchisees are required to use this system in their barbershops.
Specifically, franchisees pay half of the costs for the POS system, software, office equipment, audio/video, IT, and electronics when ordering these items, with the remaining half due upon delivery. Additionally, there's a $299 setup fee payable to the designated supplier to configure the POS system approximately two months before the barbershop opens. Franchisees also pay a license fee to the designated supplier, which is either $2,700 annually if paid upfront or $250 per month.
This non-refundable policy means that once a Floyds 99 franchisee makes these payments, they cannot get their money back, even if they change their mind or encounter issues with the system. Franchisees should carefully consider their investment in the POS system and ensure they are fully committed before making any payments. It is also important to note that any custom reports or enhancements requested from the POS system provider will be at the franchisee's expense, potentially increasing the overall cost.