Does the Ledgers Franchise Disclosure Document include a list of current franchisees?

The Ledgers 2025 Franchise Disclosure Document does not explicitly include a comprehensive list of current franchisees. However, it does include EXHIBIT E-2 LIST OF FORMER FRANCHISEES. This exhibit lists the names, city and state, and current business telephone number, or if unknown, the last known home telephone number of every franchisee who had an outlet terminated, canceled, not renewed, or otherwise voluntarily or involuntarily ceased to do business under the franchise agreement during our most recently completed fiscal year or who have not communicated with us within 10 weeks of the Issuance Date of this Disclosure Document. If you buy this franchise, your contact information may be disclosed to other buyers when you leave the franchise system.

While the document does not provide a list of current franchisees, it does state that if a franchisee leaves the Ledgers system, their contact information may be disclosed to other buyers. This implies that Ledgers maintains a record of franchisee contact information, even if it is not disclosed in its entirety within the FDD.

Prospective franchisees who want to contact current Ledgers franchisees to learn more about the opportunity should ask the franchisor directly for a current franchisee list. It is common practice in the franchise industry for franchisors to provide potential franchisees with a list of current franchisees to facilitate due diligence.