FAQ

Frequently Asked Questions

Answers About Our Barbershop Franchise Opportunity

Opening your own business is no small feat. When you join our barbershop franchise, we provide you with the training and support needed to get up and running quickly. Floyd’s 99 Barbershop also partners with third-party vendors that can help expedite the candidate qualification and financing process. That said, we understand that you have quite a few questions about the opening process, the investment requirement, and our company in general. We’ve pulled together the most common questions prospective owners have, along with our answers. Check them out below and then don’t hesitate to reach out to us if you have additional questions.

FAQ

  • Q:What experience do I need?

    A:While no salon or barbershop experience is required, Floyd’s is looking for experienced entrepreneurs with leadership skills, business acumen, and the ability to execute on a multi-unit agreement. We also require that prospective candidates live in the market they plan to develop and have a net worth of $1.5 million and minimum liquidity of $500,000.

  • Q:How much can I make?

    A:The performance of your Floyd’s will depend on a number of factors, including real estate-related costs, operating expenses, financing expenses, and your ability to successfully operate the barbershops. We cannot predict or guarantee any revenue.

  • Q:How much does it cost to start a Floyd’s franchise?

    A:Once you are provided our current FDD, please take a look at Item 7 of our Franchise Disclosure Document (FDD) for detailed estimates of what your line-item expenses will be. Overall, we estimate your startup costs will be between $294,000 and $642,000, based on our most recent FDD. The initial franchise fee for your first shop is $45,000, and $10,000 additional for each subsequent shop in a multi-unit agreement.

  • Q:I’m amped and ready to get started! How quickly can I open my first barbershop franchise location?

    A:We’re amped as well and can’t wait to meet you! Though it will vary on several factors, we estimate an average ramp-up of about nine months.

  • Q:Do you offer financing?

    A:Unfortunately, Floyd’s does not offer financing internally. However, we do partner with BoeFly, a third-party vendor that can quickly answer such pro forma questions, such as whether you’re qualified to be a Floyd’s franchisee, help you complete the proper loan request, and connect you with appropriate lenders. Using BoeFly can speed up the financing process and ultimately expedite your ramp-up.

  • Q:I don’t know anything about hair or grooming. How do I prepare my employees so that they can deliver the full Floyd’s experience?

    A:Don’t worry, we’ve got you covered. This is where we’re going to help you proactively with our technical education for your stylists and barbers, and by really empowering your staff so they understand and embody best practices for customer service. If you have any questions or concerns along the way, we will be happy to answer them and supply you with any helpful resources you may need.

Floyd's Franchsie Opportunities

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