Does the estimate of additional funds for a Ledgers franchise include an owner's salary or draw?

According to Ledgers's 2025 Franchise Disclosure Document, the estimate for additional funds does not include an owner's salary or draw. Item 7 outlines the estimated initial investment for a Ledgers franchise, and specifically states that the additional funds cover staff salaries and operating expenses for the first three months. The table in Item 7 shows that 'Additional Funds – 3 months' are estimated to be between $5,000 and $15,000.

This means that prospective Ledgers franchisees should plan to have additional capital available to cover their own living expenses and compensation during the initial three-month period, as these costs are not factored into the estimated initial investment. The FDD indicates that the estimate is based on the management team's years of experience in the industry.

It is important for potential franchisees to carefully consider their personal financial needs and living expenses when evaluating the overall investment required to start a Ledgers franchise. Underestimating these costs could lead to financial strain during the critical early months of operation. Therefore, franchisees should conduct thorough personal budgeting and financial planning to ensure they have sufficient resources beyond the stated initial investment to support themselves until the business becomes self-sustaining.