What is the role of the designated Principal Manager in the management of a Floyds 99 shop?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
igations and the Franchisee requests, in writing, an extension of time in which to have its FLOYD'S 99 Shop established before such development period lapses. The Franchisee shall obtain the Franchisor's approval prior to opening the Barbershop for business.
6. TRAINING
- 6.1 Initial Training Program. The Franchisee, if the Franchisee is an individual, or the principal owner of the Franchisee entity, or, if the Barbershop governed by this Agreement is not the first Barbershop developed by the Franchise or an affiliate, the individual designated by the Franchisee to assume primary responsibility for the overall management of the FLOYD'S 99 Shop (the "Principal Manager"), must attend the initial training program which is conducted by the Franchisor at one of the Franchisor's designated training facilities. Successful completion of the initial training program by the Principal Manager is a prerequisite to perform the duties of the Principal Manager. The Franchisor permits the attendance of two management-level individuals in the Franchisor's initial training program without the imposition of any tuition or fee. However, the Franchisee is responsible for any and all traveling expenses, living expenses and wages incurred by the Franchisee and its employees in connection with their attendance at the training program. Participants in the training program do not receive compensation from the Franchisor during their training. It is mandatory that at least one individual successfully completes the initial training program prior to the commencement of operation of the FLOYD'S 99 Shop by the Franchisee. The primary objective of the initial training program is to provide comprehensive instruction on the Franchisor's Licensed Methods, trademark protection and brand consistency across FLOYD'S 99 locations.
- 6.2 Length of Initial Training. The initial training program consists of a total of approximately 40 hours of classroom training and 7 to 10 days of in Shop training, at a location designated by the Franchisor. The Franchisor reserves the right to waive a portion of the training program or alter the training schedule, if in the Franchisor's sole discretion, the Franchisee or the Principal Manager has sufficient prior experience or training. The Franchisor also reserves the right to provide training remotely by live video conferencing or other virtual means.
Source: Item 22 — CONTRACTS (FDD pages 57–58)
What This Means (2025 FDD)
According to the 2025 Floyds 99 Franchise Disclosure Document, the Principal Manager plays a crucial role in the overall management and operation of a Floyds 99 shop. If the franchisee is not an individual or the principal owner of the franchisee entity, they must designate an individual as the Principal Manager to assume primary responsibility for the shop's management. This individual is required to complete the initial training program provided by Floyds 99.
Successful completion of the initial training program is a prerequisite for the Principal Manager to perform their duties. This training ensures that the manager is well-versed in Floyds 99's licensed methods, trademark protection, and brand consistency. If a new Principal Manager is hired during the franchise agreement term, they must also complete this initial training program. Floyds 99 also emphasizes that proper shop management is important and requires that either a principal owner or a designated Principal Manager who has completed the initial training program is responsible for the shop's management at all times.
Floyds 99 also retains the right to appoint an interim Principal Manager to operate and manage the shop if the franchisor determines that the shop is not being managed properly, is not being operated by someone who has completed the mandatory initial training, or if a default occurs. This measure is in place to prevent any interruption of the shop's operation that could harm the Floyds 99 system. During such times, Floyds 99 will manage the shop's finances, covering expenses and compensating its representatives, and may also charge a reasonable management fee in addition to royalties and other fees.