What was the net change in the total number of Ledgers outlets during 2024?
Ledgers Franchise · 2025 FDDAnswer from 2025 FDD Document
| 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' 2025 Franchise Disclosure Document, the net change in the total number of outlets during 2024 was -2. This means that Ledgers had two fewer outlets at the end of 2024 than it did at the beginning of the year. Specifically, the number of franchised outlets decreased from 4 at the start of 2024 to 2 at the end of the year, while the number of company-owned outlets remained at 0 throughout the year.
For a prospective franchisee, this decrease in the number of outlets could be a cause for concern. It is important to investigate the reasons behind this decline. Possible reasons could include closures due to poor performance, terminations of franchise agreements, or a strategic decision by Ledgers to consolidate its operations. Understanding the reasons for the net decrease is crucial for assessing the stability and potential growth of the franchise system.
It is also worth noting that while the total number of outlets decreased, one new Ledgers outlet opened in Virginia during 2024. However, three outlets ceased operations for other reasons in New Jersey. This information provides a more granular view of the changes within the Ledgers franchise system and highlights the importance of looking beyond the net change to understand the underlying dynamics. A prospective franchisee should inquire about the performance of existing outlets and the support provided by Ledgers to help franchisees succeed.