Does Ledgers make any representations about a franchisee's future financial performance?
Ledgers Franchise · 2025 FDDAnswer from 2025 FDD Document
[Item 19: FINANCIAL PERFORMANCE REPRESENTATIONS]
ITEM 19 FINANCIAL PERFORMANCE REPRESENTATIONS
The FTC's Franchise Rule permits a franchisor to provide information about the actual or potential financial performance of its franchised and/or franchisor-owned outlets, if there is a reasonable basis for the information, and if the information is included in the disclosure document. Financial performance information that differs from that included in Item 19 may be given only if: (1) a franchisor provides the actual records of an existing outlet you are considering buying; or (2) a franchisor supplements the information provided in this Item 19, for example, by providing information about possible performance at a particular location or under particular circumstances.
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.
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Source: Item 19 — FINANCIAL PERFORMANCE REPRESENTATIONS (FDD page 42)
What This Means (2025 FDD)
According to Ledgers' 2025 Franchise Disclosure Document, Ledgers does not make any representations about a franchisee's future financial performance, nor do they provide information regarding the past financial performance of company-owned or franchised outlets. Ledgers also does not authorize employees or representatives to make such representations, either orally or in writing.
However, if a prospective franchisee is purchasing an existing Ledgers outlet, the franchisor may provide the actual records of that specific outlet. The FDD advises that if a prospective franchisee receives any other financial performance information or projections of future income, they should report it to Ledgers' management, the Federal Trade Commission, and the appropriate state regulatory agencies. The contact for Ledgers' management is Mary Jane DeJaager at 780 Lynnhaven Parkway, Suite 240, Virginia Beach, VA 23452.
This policy is typical in franchising. Franchisees should be wary of any financial projections made outside of Item 19 in the FDD and should report them as directed within the FDD. It is important for potential franchisees to conduct their own independent financial analysis and due diligence, relying on professional advice rather than unauthorized projections.