Is the proposed transferee of a Floyds 99 franchise required to complete the initial training program?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
18.3 Franchisor's Approval of Transfer. The Franchisor has 90 days from the date of the written notice of the proposed transfer to approve or disapprove in writing, of the Franchisee's proposed transfer. The Franchisee acknowledges that the proposed transferee shall be evaluated for approval by the Franchisor based on the same criteria as is currently being used to assess new franchisees of the Franchisor and that such proposed transferee shall be provided, if appropriate, with such disclosures as may be required by state or federal law. If the Franchisee and the proposed transferee comply with all conditions for assignment set forth herein and the Franchisor has not given the Franchisee notice of its approval or disapproval within the
90-day period, approval is deemed granted. The Franchisor's approval of any transfer shall not constitute approval for any subsequent transfer or a waiver of any of the Franchisor's rights under this Article 18.
Source: Item 22 — CONTRACTS (FDD pages 57–58)
What This Means (2025 FDD)
According to the 2025 Floyds 99 Franchise Disclosure Document, the proposed transferee of a Floyds 99 franchise must be evaluated using the same criteria as new franchisees. This suggests that the transferee may be required to complete the initial training program, as it is a standard requirement for new franchisees. The FDD states that the franchisee, if an individual, or the principal owner of the franchisee entity, or the individual designated as the Principal Manager, must attend the initial training program.
Successful completion of the initial training program by the Principal Manager is a prerequisite to performing their duties. The initial training program consists of approximately 40 hours of classroom training and 7 to 10 days of in-shop training. The primary objective of the training is to provide instruction on Floyds 99's Licensed Methods, trademark protection, and brand consistency.
Floyds 99 does reserve the right to waive a portion of the training program or alter the training schedule if the franchisee or Principal Manager has sufficient prior experience or training. Additionally, Floyds 99 can provide training remotely via live video conferencing or other virtual means. If the proposed transferee hires a new Principal Manager during the franchise term, that person will be required to successfully complete the initial training program.