What sales period does the weekly Floyds 99 royalty payment cover?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
- 12.3 Royalty Payments. Royalty payments shall be made weekly and sent to the Franchisor by electronic funds transfer on the day of the week the Franchisor shall designate from time to time ("Due Date") based on Gross Sales for the immediately preceding week. No later than 30 days prior to the opening of the Barbershop, the Franchisee shall execute an Authorization Agreement for Preauthorized Payments in the form attached to this Agreement as Exhibit IV to allow the electronic transfer of funds from the Franchisee's bank account to the Franchisor's bank account of delinquent Royalties, National Marketing Contributions and other past due amounts owed by the Franchisee to the Franchisor arising from or relating
Source: Item 22 — CONTRACTS (FDD pages 57–58)
What This Means (2025 FDD)
According to the 2025 Floyds 99 Franchise Disclosure Document, the weekly royalty payment covers the gross sales from the immediately preceding week. Floyds 99 franchisees must pay a weekly royalty fee equal to 6% of their shop's gross sales. These royalty payments are sent via electronic funds transfer on a designated day of the week.
Gross sales include all sales of services, products, and merchandise, whether for cash or credit, revenues from vending machines, and sales of promotional items. Gross sales exclude sales or service taxes collected from clients and paid to the appropriate taxing authority, discounts approved in advance by Floyds 99 in writing, and other exclusions authorized in writing by Floyds 99.
Prior to opening their Floyds 99 shop, franchisees must complete an Authorization Agreement for Preauthorized Payments. This agreement allows for the electronic transfer of funds from the franchisee's bank account to Floyds 99's bank account for any delinquent royalties, national marketing contributions, and other past-due amounts.