According to Ledgers' 2025 Franchise Disclosure Document, Maryland franchisees benefit from a deferral of initial fees and payments. This deferral is due to a requirement by the Maryland Securities Commissioner based on Ledgers' financial condition. Specifically, Maryland franchisees are not required to pay initial fees until Ledgers has fulfilled its pre-opening obligations as outlined in the franchise agreement. This modification is applied to Item 5 of the FDD and Section 2.1 of the Franchise Agreement.

This deferral provides a significant advantage to new Ledgers franchisees in Maryland. It reduces the upfront financial burden, allowing franchisees to conserve capital during the initial stages of setting up their business. This can be particularly helpful in managing cash flow and ensuring sufficient funds are available for other essential startup costs, such as marketing, office space, and initial operating expenses.

However, it is important to note that while the initial fees are deferred, they are still ultimately owed to Ledgers once the pre-opening obligations are met. Franchisees should plan accordingly to ensure they have the funds available to pay these fees once they are due. This deferral does not eliminate the obligation but rather postpones it, providing a financial cushion during the critical startup phase. Prospective franchisees should carefully review the specific pre-opening obligations outlined in the franchise agreement to understand when the initial fees will become payable.