How many franchised Ledgers outlets were operating at the start of 2024?
Ledgers Franchise · 2025 FDDAnswer from 2025 FDD Document
[Item 20: OUTLETS AND FRANCHISEE INFORMATION]
| Outlet Type | Year | Outlets at the Start of Year | Outlets at the End of Year | Net Change |
|---|---|---|---|---|
| Franchised | 2022 | 7 | 8 | 1 |
| 2023 | 8 | 4 | -4 | |
| 2024 | 4 | 2 | -2 | |
| Company | 2022 | 0 | 0 | 0 |
| Owned | 2023 | 0 | 0 | 0 |
| 2024 | 0 | 0 | 0 | |
| Total Outlets | 2022 | 7 | 8 | +1 |
| 2023 | 8 | 4 | -4 | |
| 2024 | 4 | 2 | -2 |
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 42–45)
What This Means (2025 FDD)
According to Ledgers's 2025 Franchise Disclosure Document, there were 4 franchised outlets operating at the start of 2024. This information is detailed in Table No. 1, which provides a system-wide outlet summary for the years 2022 to 2024. The table tracks the number of franchised outlets at the beginning and end of each year, along with the net change in outlets.
Specifically, the table shows that Ledgers had 7 franchised outlets at the start of 2022, which increased to 8 by the end of that year. In 2023, the number remained at 8 at the start of the year but decreased to 4 by the end of 2023. This downward trend continued into 2024, with the number of franchised outlets decreasing from 4 at the start of the year to 2 by the end of 2024.
For a prospective franchisee, this data indicates a significant contraction in the number of franchised Ledgers outlets over the three-year period. The decrease from 8 outlets to 2 suggests potential challenges within the franchise system, which could include closures, terminations, or non-renewals of franchise agreements. A potential franchisee should investigate the reasons behind this decline and assess the overall health and stability of the Ledgers franchise system before investing.
It would be prudent for potential franchisees to speak with current and former Ledgers franchisees to understand their experiences and the challenges they faced. Additionally, they should carefully review Item 20 in its entirety and seek clarification from Ledgers regarding the reasons for outlet closures and any plans to address these issues.