Is there a deadline by which Floyds 99 must approve or deny a proposed transfer?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
8.3 Franchisor's Approval of Transfer. Franchisor has 90 days from the date of the written notice of the proposed transfer to approve or disapprove in writing, of Developer's proposed transfer.
Developer acknowledges that the proposed transferee shall be evaluated for approval by Franchisor based on the same criteria as is currently being used to assess new Developers of Franchisor and that such proposed transferee shall be provided, if appropriate, with such disclosures as may be required by state or federal law. If Developer and the proposed transferee comply with all conditions for assignment set forth herein and Franchisor has not given Developer notice of its approval or disapproval within the 90-day period, approval is deemed granted. Franchisor's approval of any transfer shall not constitute approval for any subsequent transfer or a waiver of any of Franchisor's rights under this Article 8.
Source: Item 23 — RECEIPT (FDD pages 58–229)
What This Means (2025 FDD)
According to the 2025 Floyds 99 Franchise Disclosure Document, Floyds 99 has a 90-day period to either approve or disapprove a proposed transfer of the franchise. This 90-day period starts from the date Floyds 99 receives written notice of the proposed transfer from the developer.
If Floyds 99 fails to provide written notice of either approval or disapproval within this 90-day timeframe, the FDD states that approval is considered to be granted. However, even if Floyds 99 approves a transfer, this approval does not extend to any subsequent transfers, nor does it waive any of Floyds 99's rights under the relevant article of the franchise agreement.
This clause ensures that franchisees aren't left in limbo indefinitely when trying to sell their business. However, franchisees must ensure they provide complete and accurate information in their transfer request to avoid delays or potential disapproval within that 90-day window. It is also important to note that the proposed transferee will be evaluated using the same criteria as new Floyds 99 developers.