How many Ledgers outlets were operating in New Jersey at the end of 2023?
Ledgers Franchise · 2025 FDDAnswer from 2025 FDD Document
ranchisor) For Fiscal Years 2022 to 2024**
| State | Year | Number of Transfers | |---|---|---| | Total | 2022 | 0 | | | 2023 | 0 | | | 2024 | 0 | Table No. 3 Status of Franchise Outlets For Years 2022 to 2024
| State | Year | Outlets at Start of Year | Outlets Opened | Ter minatio ns | Non Renew als | Reacquired by Franchisor | Ceased Operations Other Reasons | Outlets at End of Year |
|---|---|---|---|---|---|---|---|---|
| Connecticut | 2022 | 1 | 0 | 0 | 0 | 0 | 0 | 1 |
| 2023 | 1 | 0 | 0 | 0 | 1 | 0 | 0 | |
| 2024 | 0 | 0 | 0 | 0 |
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 3 Ledgers outlets operating in New Jersey at the end of 2023. The FDD provides a table that breaks down outlet information by state and year, including the number of outlets at the start of the year, outlets opened, terminations, non-renewals, re acquisitions by the franchisor, ceased operations for other reasons, and the number of outlets at the end of the year.
For a prospective franchisee, this level of detail is valuable for assessing the brand's performance and stability in specific geographic areas. Seeing the changes in outlet numbers—openings, closures, and transfers—can provide insights into the health of the franchise network. It's important to note that while New Jersey saw 3 outlets open in 2023, by 2024, the number of outlets dropped back to zero due to outlets ceasing operations for other reasons.
This data underscores the importance of due diligence when considering a Ledgers franchise. A potential franchisee should investigate the reasons behind the closures in New Jersey to understand the challenges and opportunities in that market. Further, the document indicates that Exhibit E-1 contains a list of the names of all franchisees and the addresses and telephone numbers of their outlets as of the end of our last fiscal year. This exhibit would be a valuable resource for prospective franchisees to contact existing franchisees and learn more about their experiences.
Overall, while the information in Item 20 provides a snapshot of Ledgers's franchise network, prospective franchisees should combine this data with their own market research and discussions with current and former franchisees to make an informed decision.