What is Schedule 1 of the Ledgers Franchise Agreement related to?
Ledgers Franchise · 2025 FDDAnswer from 2025 FDD Document
utstanding Client experience (collectively the "Services").
For mutual promises expressed in this Agreement, along with other valuable consideration, the receipt of which is acknowledged, Ledgers and Franchisee (collectively "the Parties") will be bound as follows:
Scope
1.1. Franchise Relationship
A. Grant of Franchise
Ledgers grants to you the right to operate a company ("Franchise Business") using our System and our Marks to deliver Services within the geographic boundaries identified in Schedule 1 (the "Territory") during the Term by and through the Franchisee Business Entity identified on the Summary Page and signature page of this Agreement (or as a sole proprietor or partnership if there is no business entity) and in conformity with the terms and conditions of this Agreement.
B. Independent Contractors.
Your relationship with us is that of an independent contractor. This Agreement does not create a partnership, joint venture, or any other entity between the Parties. Neither Party has a fiduciary duty or other special duty respect to the other Party.
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to Ledgers' 2025 Franchise Disclosure Document, Schedule 1 of the Franchise Agreement pertains to the franchisee's territory. The franchise agreement grants the franchisee the right to operate a Ledgers business within a specific geographic area, and Schedule 1 defines the boundaries of this territory.
The FDD specifies that the territory is defined by zip codes, political, or geographic boundaries. Ledgers promises not to establish another company-owned or franchised outlet selling the same or similar goods or services under the same or similar trademarks or service marks within the franchisee's designated territory.
Ledgers typically grants a geographic area that includes a population of 65,000 residents and at least 3,500 businesses as defined by their marketing programs. This is determined by the U.S. Census Bureau or other mapping data that Ledgers deems reliable. A prospective franchisee should carefully review Schedule 1 to fully understand the geographic boundaries of their territory and the potential customer base within that area.