Are advertising fees included in the estimated initial investment for a Ledgers franchise?

According to Ledgers's 2025 Franchise Disclosure Document, the estimated initial investment does not include advertising fees. Item 7 of the FDD outlines the estimated initial investment for a Ledgers franchise, detailing various expenditures such as the initial franchise fee, construction and leasehold improvements, furniture, fixtures, and equipment, and other costs.

Specifically, the FDD states that the estimated initial investment does not include royalties, advertising fees, or interest expenses. This means that prospective Ledgers franchisees should anticipate additional costs beyond the initial investment figures provided in Item 7 for ongoing advertising and marketing efforts.

Therefore, when budgeting for a Ledgers franchise, it is crucial to consider that advertising fees are separate from the initial investment and will represent an ongoing operational expense. Franchisees should inquire about the typical advertising expenses and strategies to effectively budget and plan for these costs.