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What was the total revenue for Ledgers in 2022?

Ledgers Franchise · 2025 FDD

Answer from 2025 FDD Document

venue | 83,000 | 53,989 | 711,614 | | | | | | Total Non-Current Liabilities | 83,000 | 53,989 | 711,614 | | | | | | Total Liabilities | 978,945 | 910,154 | 1,257,740 | | | | | | Members' Equity: | | | | | | | | | Members' equity | 793,510 | 1,155,501 | 1,704,387 | | | | | | Total Members' Equity | 793,510 | 1,155,501 | 1,704,387 | | | | | | Total Liabilities and Members' Equity | $ 1,772,455 | $ 2,065,655 | $ 2,962,127 | | | | |

LOYALTY BUSINESS SERVICES, LLC (FORMERLY FIDE HOLDING, LLC) Statements of Operations

For the Years Ended December 31, 2024, 2023, and 2022

20 24 - 2023 2022
Revenue:
Initial franchise fees $ . 30,336 $ 113,362 $ 114,383
Royalty fees í 36,056 37,528 49,019
Commission income = = 21,000
Other 26,479 - 41,740 176,466
Total revenue 92,871 192,630 360,868
Operating expenses:
Salaries, wages, taxes and benefits 1 74,839 449,440 425,683
Advertising and promotions 2,750 9,910 19,784
Corporate overhead expense 1' 75,805 109,334 58,370
Franchise recruitment 9 95,587 50,925 128,533
Technology expense 9,756 40,525 248,337
Management fees - 15,000 -
Professional fees : 84,627 13,327 61,406
Bad debt expense í 35,657 294,324 -
Other general and administrative e

Source: Item 22 — CONTRACTS (FDD page 46)

What This Means (2025 FDD)

According to Ledgers's 2025 Franchise Disclosure Document, the total revenue for 2022 was $360,868. This revenue is comprised of several sources, including initial franchise fees, royalty fees, commission income, and other income. Specifically, initial franchise fees accounted for $114,383, royalty fees contributed $49,019, commission income amounted to $21,000, and other income totaled $176,466.

It's important to note that while Ledgers generated this revenue, the company also incurred significant operating expenses during the same period. These expenses included salaries, wages, taxes and benefits, advertising and promotions, corporate overhead, franchise recruitment, technology, professional fees, and other general and administrative costs. The total operating expenses for 2022 amounted to $963,879, which significantly exceeded the total revenue.

Additionally, Ledgers experienced other income and expenses, such as interest income and other expenses, resulting in a total other (income) expense of $(2,484). After accounting for these factors, the loss before income taxes was $(600,527), and the net loss was $(447,527). This financial overview provides prospective franchisees with insight into the revenue streams and cost structure of Ledgers during the specified year, highlighting both the income generated and the expenses incurred.

Disclaimer: This information is extracted from the 2025 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.