Does the Ledgers Franchise Disclosure Document include a schedule outlining minimum requirements?
Ledgers Franchise · 2025 FDDAnswer from 2025 FDD Document
Schedule 2- Automatic Bank Draft Authorization
1.6. Minimum Requirements
Continuation of your territorial rights depends on achieving a certain growth. You cannot have declining revenue during two consecutive years ("Minimum Requirements"). A year will include each fiscal year (including any partial year) ending on December 31. If you fail to meet Minimum Requirements, then we reserve the right to establish a company-owned outlet selling the same or similar goods or services under the same or similar trademarks or service Marks.
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to Ledgers' 2025 Franchise Disclosure Document, there is a schedule outlining minimum requirements. Specifically, Schedule 2 is titled "Automatic Bank Draft Authorization", and section 1.6 discusses minimum requirements.
The document states that the continuation of territorial rights for a Ledgers franchise depends on achieving a certain level of growth. A franchisee cannot have declining revenue during two consecutive years, which Ledgers defines as each fiscal year ending on December 31.
If a Ledgers franchisee fails to meet these minimum requirements, Ledgers reserves the right to establish a company-owned outlet that offers similar services under similar trademarks. This clause incentivizes franchisees to maintain consistent revenue growth to protect their exclusive territorial rights.