In the Prospective Franchisee section of the Floyds 99 receipt, what information is required regarding the Management Personnel?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
I received a Disclosure Document with an issue date of June 10, 2025 that included the following Exhibits:
A List of State Agencies/Agents for Service of Process B Development Agreement C Franchise Agreement D Amendment to Franchise Agreement (Renewal) E FLOYD'S 99 Franchised Barbershop Locations F Franchisees Who Have Left the System G Financial Statements H Operations Manual Table of Contents I Nondisclosure and Noncompetition Agreement J State Addenda and Riders to Disclosure Document, Franchise Agreement, Development Agreement and Other Exhibits K General Release L Lease Addendum and Collateral Assignment of Lease M Notice of Restrictive Covenants N Closing Acknowledgement O Receipts Date: (Do not leave blank) Signature of Prospective Franchisee Print Name
Source: Item 23 — RECEIPT (FDD pages 58–229)
What This Means (2025 FDD)
Based on the 2025 Floyds 99 Franchise Disclosure Document, the receipt serves as an acknowledgment that the prospective franchisee received the FDD. The receipt includes fields for the date, the prospective franchisee's signature, and their printed name. This confirms the franchisee has been given the disclosure document. The receipt does not require any specific information regarding the management personnel of the prospective franchisee's business.
The receipt also confirms that Floyds 99 provided the Disclosure Document to the prospective franchisee at least 14 calendar days before they sign a binding agreement or make a payment. This waiting period is mandated by franchise regulations to allow franchisees adequate time to review the document and seek professional advice. Some states, like New York and Michigan, have slightly different requirements regarding the timing of the disclosure.
The receipt serves as a legal record of compliance with disclosure requirements. By signing the receipt, the prospective franchisee acknowledges they received the FDD, which includes important information about the Floyds 99 franchise opportunity. This helps protect both the franchisor and franchisee by documenting that the required disclosures were made. The prospective franchisee can return the signed receipt to Floyds 99 Franchising, LLC by mail or fax.