Where will the specific address of the Floyds 99 shop be set forth?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
y the Franchisor in writing and shall further be restricted from offering the authorized services or distributing the authorized products for nonretail or off-site sale except as permitted by the Franchisor in writing.
3. FRANCHISED LOCATION AND TERRITORIAL RIGHTS
3.1 Franchised Location. The Franchisee is granted the right and franchise to own and operate a FLOYD'S 99 Shop at the address and location which shall be set forth in Exhibit I, attached hereto ("Franchised Location"). If, at the time the parties execute this Agreement, the Franchised Location cannot be designated as a specific address because a location has not been selected and approved, then the Franchisee shall promptly take steps to choose and acquire a location for its FLOYD'S 99 Shop within the
- "Designated Area," set forth in Exhibit I. In such circumstances, the Franchisee shall select and propose to the Franchisor for the Franchisor's prior approval a specific location for the Franchised Location which, once approved by the Franchisor, shall then be described in the rider to Exhibit I.
- 3.2 Protected Territory. Subject to the Franchisor's reservation of rights described in Section 3.4 below, the Franchisor shall not establish and operate, or franchise another person or entity to establish and operate, a FLOYD'S 99 Shop within the geographic area described in Exhibit I, attached hereto (the "Protected Territory"). Once Franchisor has defined the Protected Territory, Franchisee will have no further territorial or other rights in those portions of the Designated Area that are located outside of the Protected Territory.
- 3.3 Limitation on Franchise Rights; Relocation. The rights that are granted to the Franchisee are for the specific Franchised Location and cannot be transferred to an alternative Franchised Location, or any other location, without the prior written approval of the Franchisor, which approval shall not be unreasonably withheld.
Source: Item 22 — CONTRACTS (FDD pages 57–58)
What This Means (2025 FDD)
According to the 2025 Floyds 99 Franchise Disclosure Document, the specific address of the franchised location will be detailed in Exhibit I of the Franchise Agreement. However, if a location hasn't been chosen and approved when the agreement is executed, Exhibit I will initially specify a 'Designated Area' instead of a specific address.
Within 90 days of the agreement, the franchisee must select and acquire an approved location within the Designated Area. Once the Franchisor approves a specific location, it will then be described in a rider to Exhibit I.
This two-step process allows franchisees to secure the franchise agreement and begin the site selection process concurrently. However, the franchisee bears the risk of finding a suitable location within the designated area that meets Floyds 99's approval. The franchisee acknowledges that Floyds 99's approval of a site does not guarantee its suitability or success.