Does Item 19 for Ledgers include any financial performance representations?
Ledgers Franchise · 2025 FDDAnswer from 2025 FDD Document
We do not make any representations about a franchisee's future financial performance or the past financial performance of company-owned or franchised outlets. We also do not authorize our employees or representatives to make any such representations either orally or in writing. If you are purchasing an existing outlet, however, we may provide you with the actual records of that outlet. If you receive any other financial performance information or projections of your future income, you should report it to the franchisor's management by contacting Mary Jane DeJaager at 780 Lynnhaven Parkway, Suite 240, Virginia Beach, VA 23452, the Federal Trade Commission, and the appropriate state regulatory agencies.
Source: Item 19 — FINANCIAL PERFORMANCE REPRESENTATIONS (FDD page 42)
What This Means (2025 FDD)
According to Ledgers' 2025 Franchise Disclosure Document, Item 19 explicitly states that Ledgers does not make any representations about a franchisee's future financial performance or the past financial performance of company-owned or franchised outlets. This means that Ledgers does not provide any data or projections regarding potential revenues, income, or profits that a new franchisee might expect to achieve.
This lack of financial performance representations is a common practice among franchisors. However, the FDD does state that if you are purchasing an existing outlet, Ledgers may provide you with the actual records of that outlet. This would give a potential franchisee insight into the location's financial history.
The FDD also states that Ledgers does not authorize its employees or representatives to make any financial representations, either orally or in writing. The document instructs prospective franchisees to report any unauthorized financial performance information or projections they may receive to Ledgers' management, the Federal Trade Commission, and the appropriate state regulatory agencies. This warning is in place to protect both the franchisee and the integrity of the Ledgers franchise system.