What is the role of Loyalty Business Services LLC in relation to the Ledgers franchise?
Ledgers Franchise · 2025 FDDAnswer from 2025 FDD Document
Loyalty Business Services, LLC, dba Loyalty Business Services (the "Company") is a limited liability company, organized by the Commonwealth of Virginia in 2019. The Company intends to sell franchises to franchisees that will provide tax preparation and accounting services to the general public.
On June 1, 2020, the members of Fide Holding, LLC amended the articles of organization to change the name to Loyalty Business Services, LLC.
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to Ledgers' 2025 Franchise Disclosure Document, Loyalty Business Services LLC, formerly known as Fide Holding, LLC, is the franchisor. It was organized in 2019 in the Commonwealth of Virginia. Loyalty Business Services LLC intends to sell franchises to franchisees who will offer tax preparation and accounting services to the public.
As the franchisor, Loyalty Business Services LLC enters into franchise agreements with franchisees, allowing them to operate a Ledgers franchise. The franchise agreement outlines the terms and conditions under which the franchisee can use the Ledgers Franchise System, which includes prescribed marketing techniques and operating procedures. Loyalty Business Services LLC generates revenue from franchise fees, royalty fees from franchisees, and referral fees from vendors.
Loyalty Business Services LLC also requires franchisees to appoint them as Attorney in Fact regarding telephone numbers, listings, and advertisements related to the franchise, which takes effect upon the expiration or termination of the Franchise Agreement. Additionally, the franchisor, Ledgers, is responsible for the development, updates, and changes to the trademarks and service marks, and the franchisee is required to use these marks in accordance with the franchisor's manual.