A bi-fold door is opened with a lift assembly having a plurality of straps attached to power driven lift drums. A latch assembly retains the closed bi-fold door secure to side columns of a building. The latch assembly has a latch strap attached to a latch drum that accommodates the latch strap to hold the closed bi-fold door in contact with the side columns of the building. A floor anchor assembly anchors the bottom of the closed bi-fold door to the floor below the closed bi-fold door to stabilize and inhibit bending and deformation of the bi-fold door frame.