What is the first step a Ledgers franchisee must take to renew their franchise agreement?
Ledgers Franchise · 2025 FDDAnswer from 2025 FDD Document
Upon the completion of the Term, or a renewal Term as the case may be, if you are in compliance with this Agreement and meet other conditions for renewal, you may enter into a new contract, on the then-current form. We will not change material Terms including your Territory in your renewals. If you wish to renew this Agreement, you must:
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- notify us in writing at least 90 days before the expiration of this Agreement;
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- execute a general release of all claims you may have against us (See Schedule 6);
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- pay any required renewal fee (if any);
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to Ledgers' 2025 Franchise Disclosure Document, a franchisee who wishes to renew their franchise agreement must first notify Ledgers in writing at least 90 days before the expiration of the current agreement. This initial notification is a critical step, as it informs Ledgers of the franchisee's intent to continue operating under the Ledgers brand.
In addition to providing written notice, the franchisee must also execute a general release of all claims they may have against Ledgers, as detailed in Schedule 6 of the agreement. They must also pay any required renewal fee, if applicable. Meeting these conditions does not guarantee renewal, but it makes the franchisee eligible to enter into a new contract based on Ledgers' then-current form.
Ledgers also states that the material terms of the agreement, including the franchisee's territory, will not change during renewals. This provides some assurance of stability for franchisees who continue with the brand. By requiring advance notice, a release of claims, and payment of fees, Ledgers ensures that franchisees are serious about continuing the relationship and that any potential disputes are resolved before the new term begins.