What is the shorter timeframe for reviewing the Floyds 99 agreement, in business days?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
New York requires that we give you this Disclosure Document at the earlier of the first personal meeting or 10 business days before the execution of the franchise or other agreement or the payment of any consideration that relates to the franchise relationship. Michigan requires that we give you this Disclosure Document at least 10 business days before the execution of any binding franchise or other agreement or the payment of any consideration, whichever occurs first.
Source: Item 23 — RECEIPT (FDD pages 58–229)
What This Means (2025 FDD)
According to the 2025 Floyds 99 Franchise Disclosure Document, prospective franchisees in New York and Michigan have specific minimum timeframes to review the disclosure document before signing any binding agreements or making payments. In New York, Floyds 99 must provide the Disclosure Document at the earlier of the first personal meeting or 10 business days before the execution of the franchise agreement or payment of any consideration. Michigan also requires a 10 business days review period.
This means that in New York and Michigan, a potential Floyds 99 franchisee is guaranteed at least 10 business days to review the FDD and franchise agreement. This allows them time to seek legal and financial advice, and to fully understand the obligations and benefits of entering into a franchise agreement with Floyds 99.
It is important to note that while both states specify 10 business days, New York's requirement is triggered by whichever comes first: the first personal meeting or the execution of the agreement/payment of consideration. This could potentially provide a shorter review period than Michigan if a meeting occurs shortly before the agreement is due to be signed.