Who is required to complete the initial training program for a Floyds 99 franchise?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
| Type of Fee | Amount | Due Date | Remarks |
|---|---|---|---|
| phone lines used in your FLOYD'S 99 Shop. We collect and deliver the amounts charged to the third-party vendor. We do not retain any of the funds you pay for the wired and wireless phone lines used in your Shop. | |||
| Recruiting Platform5 | $1,000 - $1,500 per year if you elect to use texting as an option | As incurred | We make ICIMS (a recruiting software platform) available to you as a tool. There is currently no cost to use ICIMS unless you elect to use texting as an option. If you electing to use texting, ICIMS bills us or our affiliates for this option and we then invoice you for the ICIMS charge. |
| Costs and Attorneys' Fees1 | Will vary depending on nature of your default | As incurred | Payable upon your failure to comply with the Franchise Agreement. |
| Indemnification Under Franchise Agreement1 | Will vary depending on nature of the claim against us | As incurred | You have to reimburse us if we are held liable for claims resulting from your operation of your Barbershop. |
| Insurance Premiums1 | Will vary depending on your location and insurer | As incurred | You must carry insurance and pay the premiums required by your insurer. If you do not pay your premiums, we have the right (but not the obligation) to pay them for you. You must reimburse us for any insurance premiums that we pay on your behalf. |
| Training for New Principal Managers/Operators1 | Currently, tuition is $3,500; plus expenses to attend (your living expenses will vary) | As incurred | Payable if you are a new Principal Manager/Operator. We require all Principal Managers/Operators to complete our initial training program for a total tuition of $3,500. |
| Step In Management Fee1 | Currently 5% of Gross Sales plus expenses | As incurred if we exercise our step in management right | We may step in and manage your FLOYD'S 99 Shop (a) if you are in default and your FLOYD'S 99 Shop is not being operated or managed properly, or if your FLOYD'S 99 Shop is not being operated by a trained Principal Manager, (b) if you are absent or incapacitated by reason of illness or debt, (c) if you fail to pay when due or remove any liens or encumbrances on your FLOYD'S 99 Shop, or (d) if necessary to ensure continued operations as a going concern and to correct operational issues. We only charge a management fee if we manage your FLOYD'S 99 |
Source: Item 6 — OTHER FEES (FDD pages 14–20)
What This Means (2025 FDD)
According to Floyds 99's 2025 Franchise Disclosure Document, all Principal Managers/Operators are required to complete the initial training program. The tuition for this training is currently $3,500, in addition to any expenses incurred to attend the training. These expenses include travel, meals, and lodging, which are payable to third parties and will vary depending on the franchisee's choices.
This means that if you plan to be a Principal Manager/Operator for a Floyds 99 franchise, you must budget not only for the $3,500 tuition but also for travel and living expenses during the training period. It is important to consider these additional costs when evaluating the overall investment required to start and operate a Floyds 99 franchise.
Floyds 99 may also step in and manage your shop if it is not being operated by a trained Principal Manager. In this case, Floyds 99 charges a management fee of 5% of gross sales plus expenses.