Within how many days after the Franchise Agreement must a Floyds 99 franchisee sign a lease?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
has earned the initial franchise fee upon receipt thereof and that the fee is under no circumstances refundable to the Franchisee after it is paid, unless otherwise specifically set forth in this Agreement.
5. DEVELOPMENT OF FRANCHISED LOCATION
5.1 Approval of Franchised Location. Within two hundred seventy (270) days after the date of execution of this Agreement, the Franchisee shall locate a Franchised Location which is suitable for the operation of the FLOYD'S 99 Shop, have it approved by the Franchisor and sign the lease. If the Franchisee has made reasonable and continuing efforts to locate a Franchised Location, but site availability considerations beyond the control of the Franchisee prevent the selection of a suitable site, the Franchisor will extend the deadline to select a Franchised Location for a reasonable time if the Franchisee requests, in writing, an extension of the time to have the Franchised Location selected before such selection period lapses.
Source: Item 22 — CONTRACTS (FDD pages 57–58)
What This Means (2025 FDD)
According to Floyds 99's 2025 Franchise Disclosure Document, a franchisee must sign a lease for their Franchised Location within 270 days of the Franchise Agreement's execution.
It is important to note that the franchisee must also have the location approved by Floyds 99 within this 270-day period. If the franchisee makes reasonable efforts to find a location but cannot due to circumstances beyond their control, they can request a written extension from Floyds 99.
Furthermore, the franchisee must deliver a copy of the signed lease, including all amendments, to Floyds 99 within 15 days of signing it. This ensures that Floyds 99 is kept informed of the lease terms and can maintain oversight of the franchisee's location arrangements.