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FDD Talk 2013: Average Sales, Operating Expenses, and Net Profit for Affiliate-Owned Floyd’s 99 Barbershops (2013 FDD)

by Franchise Chatter on October 30, 2013

in Franchise Earnings, Salon Franchise



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Highlights of Floyd’s 99’s Item 19 Financial Performance Representations (2013 FDD) – Part 1

  • There were a total of 59 Floyd’s 99 Shops, both franchised and affiliate-owned, open as of the company’s 2012 fiscal year end, December 31, 2012. Four of these 59 Barbershops opened during 2012 and are not included because they were not open for the entire year.
  • The franchisor’s affiliate, Floyd’s 99 Colorado, LLC, operated 13 Floyd’s 99 Barbershops as of December 31, 2012, all of which are located in the Denver, CO metropolitan area. Results from two Barbershops operated by another affiliate, Floyd’s 99 California LLC, both of which opened in 2005 in California, are also included below. The Barbershops operated by affiliates are substantially similar to franchised Barbershops offered in the Disclosure Document.

Explanatory Notes for Chart I – Average Operating Results of Thirty Affiliate-Owned Barbershops

  • Floyd's 99 Photo by kateengelmannChart I below entitled “Average Operating Results of Thirty Affiliate-Owned Barbershops” shows the 2012 fiscal year average sales, costs, and expenses for a total of 30 affiliate-owned Barbershops:  one that has been open since 2001, one that has been open since 2002, five that have been open since 2005, four that have been open since 2006, one that opened in 2007, four that opened in 2008, eight that opened in 2009, two that opened in 2010, and four that opened in 2011.
  • The company’s fiscal year 2012 coincides with calendar year 2012.
  • The “High Group” results are averages for ten Barbershops, four located in Denver, Colorado and six located in Los Angeles, California.
  • One of the Denver Barbershops opened in July 2006 with 10 barber chairs, one opened in May 2005 with 15 barber chairs, one opened in October 2002 with 15 barber chairs, and one opened in July 2005 with 13 barber chairs.
  • The Shops in Los Angeles opened as follows:  March 2005 with 20 barber chairs, April 2005 with 9 barber chairs, March 2007 with 11 barber chairs, May 2007 with 22 barber chairs, June 2008 with 13 barber chairs, and May 2009 with 14 barber chairs.
  • Of the ten Barbershops, four met or exceeded the average gross profit shown.
  • The “Mid Group” results are averages for nine Barbershops, six located in Denver, Colorado; two located in Los Angeles, California; and one located in Chicago, Illinois.
  • The Denver Barbershops opened as follows:  March 2005 with 12 barber chairs, August 2006 with 11 barber chairs, December 2006 with 13 barber chairs, January 2009 with 12 barber chairs, August 2009 with 12 barber chairs, and October 2010 with 14 barber chairs.
  • The Los Angeles shops opened as follows:  February 2009 with 13 barber chairs and June 2009 with 15 barber chairs.
  • One shop opened in Chicago, Illinois in June 2009 with 14 barber chairs.
  • Of the nine Barbershops, five met or exceeded the average gross profit shown.
  • The “Low Group” results are averages for eleven Barbershops, three located in Denver, Colorado; one located in Los Angeles, California; four located in Chicago, Illinois; one located in Chandler, Arizona; one located in Gambrills, Maryland; and one located in Annapolis, Maryland.
  • The Denver Barbershops opened as follows:  November 2001 with 7 barber chairs, November 2006 with 10 barber chairs, and August 2007 with 11 barber chairs.
  • The Los Angeles shop opened in December 2009 with 15 barber chairs.
  • The Chicago shops opened as follows:  October 2009 with 14 barber chairs, February 2011 with 14 barber chairs, May 2011 with 14 barber chairs, and July 2011 with 10 barber chairs.
  • The Chandler, Arizona shop opened in October 2008 with 14 barber chairs.
  • The Gambrills, Maryland shop opened in November 2010 with 13 barber chairs, and the Annapolis, Maryland shop opened in November 2011 with 17 barber chairs.
  • Of the eleven Barbershops, six met or exceeded the average gross profit shown.

Chart I – Average Operating Results of Thirty Affiliate-Owned Barbershops

High Group

Sales



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