How many transfers of Ledgers outlets from franchisees to new owners occurred in 2023?

According to Ledgers's 2025 Franchise Disclosure Document, there were zero transfers of outlets from franchisees to new owners during the 2023 fiscal year. This data is presented in Table No. 2, which specifically tracks such transfers. The table provides a year-by-year breakdown, showing no transfers in 2022, 2023, or 2024.

This information is important for prospective franchisees as it can provide insights into the stability and desirability of existing Ledgers franchises. A high number of transfers might indicate that franchisees are struggling or looking to exit the system, whereas a low number, as is the case here, could suggest that franchisees are generally satisfied with their businesses.

It is worth noting that this table only accounts for transfers to new owners other than the franchisor. The FDD also includes data on outlets reacquired by Ledgers. In 2023, Ledgers reacquired one outlet from a franchisee. This distinction is important because a reacquisition by the franchisor might occur for different reasons than a transfer to a new franchisee, such as a franchisee's failure to meet performance standards or a strategic decision by Ledgers.

Prospective franchisees should consider this information in conjunction with other data in the FDD, such as the number of terminations, non-renewals, and closures, to get a comprehensive understanding of the health and stability of the Ledgers franchise system. They may also want to speak with current and former franchisees to gather additional insights into their experiences and perspectives on the transfer process.