What should a prospective Ledgers franchisee do if the Disclosure Document is not delivered on time?

According to Ledgers's 2025 Franchise Disclosure Document, if the Disclosure Document is not delivered on time, or if it contains a false or misleading statement, or a material omission, a violation of federal and state law may have occurred. In such a case, the prospective franchisee should report this to the Federal Trade Commission (FTC) in Washington, DC, and to the appropriate state agency listed in Exhibit D of the FDD.

Specifically, the FDD states that Loyalty Business Services LLC, the franchisor for Ledgers, must provide the Disclosure Document to a prospective franchisee 14 calendar days before they sign a binding agreement or make a payment related to the franchise sale. Some states have different requirements. For example, Iowa requires the document at the earlier of the first personal meeting or 14 calendar days before signing or payment. Michigan requires it at least 10 business days before signing any agreement or making any payment. New York requires it at the earlier of the first personal meeting or 10 business days before signing or payment.

This requirement ensures that prospective franchisees have adequate time to review the Disclosure Document and make informed decisions. Failure to comply with these timelines may constitute a violation of franchise laws, entitling the franchisee to legal remedies. Prospective franchisees should carefully note the delivery deadlines applicable in their state and take appropriate action if Ledgers fails to meet them.