Start a Ledgers Franchise in 2024

Franchise 500 Rank: N/R Not ranked last year

Initial investment: $58K - $100K

Units as of 2023: 5

Ledgers, founded in 2019, is a business service company that is headquartered in Virginia Beach, Virginia. They provide business services for small businesses aimed at helping them grow. These services include accounting and tax services, business planning, legalities, customer support and experience, employee management, and more.

Ledgers began franchising in 2020 and has since opened several franchises in the United States. It is offering franchising opportunities in both the U.S. and Canada.

Why You May Want To Start a Ledgers Franchise

Running a Ledgers franchise may mean you can build a business while improving the businesses of others. Franchisees with Ledgers may get a tested and proven training and coaching method and a proven business development system. These could help you build better businesses for your clients and improve your own Ledgers franchise business. Ledgers’ supportive management team could help you implement these systems effectively.

The ideal franchise candidate for Ledgers would be those with a passion for knowledge and a need to use that knowledge to assist others in achieving a higher level of business success. Franchisees with Ledgers should be passionate about helping small business owners who understand what it takes to make small businesses tick.

What Might Make a Ledgers Franchise a Good Choice?

A Ledgers franchise may be a great way to build a business with low overhead costs. Their initial fees and startup costs may also be lower for normal franchising. Additionally, business services may be a steady industry, meaning you may be able to build a successful business in a fairly short amount of time. Ledgers believes it has a guaranteed business model. ?This may have given them good marketing that helps new franchisees and offers them a chance to build a business with a reputable foundation.

To be part of the Ledgers team, you should make sure you're financially ready for an initial investment made up of a franchise fee and other startup costs. In addition, you should prepare yourself for ongoing fees that will include advertising fees and royalty fees. Franchisees will also need to meet the company's set net worth and liquid capital requirements.

How To Open a Ledgers Franchise

As you decide if opening a Ledgers franchise, make sure you take time to explore the opportunity. Research the brand and your local area to see if a Ledgers franchise would do well in your community. While competition is healthy, too much of it may not allow for the most possible growth.

Before making any financial commitment or signing an agreement, you must perform your due diligence and establish if this is the right opportunity for you. As part of your due diligence, you may want to speak to existing franchisees and ask the Ledgers franchising team questions.

Ledgers wants your franchise to succeed and is ready to support you every step of the way. When you open the doors to your new business, you will be ready to operate your Ledgers franchise.

Company Overview

About Ledgers

Industry	Financial Services
Related Categories	Business Financial Services
Founded	2019
Parent Company	Loyalty Brands
Leadership	Mary Jane DeJaager, CEO
Corporate Address	780 Lynnhaven Pkwy., #240 Virginia Beach, VA 23452
Social	Facebook, LinkedIn

Business Overview

Franchising Since	2020 (4 years)
# of employees at HQ	6
Where seeking	This company is offering new franchises in the following US states: Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, District of Columbia, Delaware, Florida, Georgia, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, North Carolina, Nebraska, New Hampshire, New Jersey, New Mexico, Nevada, New York, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Virginia, Vermont, Wisconsin, West Virginia, Wyoming
# of Units	5 (as of 2023)

Information for Franchisees

Here's what you need to know if you're interested in opening a Ledgers franchise.

Financial Requirements & Ongoing Fees

Here's what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.

Initial Franchise Fee Definition: The initial fee paid to a franchisor to join their system What you need to know: Found in Item 5 of the FDD, this may be a flat fee, or may vary based on territory size, experience, or other factors.The franchise fee is an up-front (one-time) cost that a new franchisee pays to the franchisor. This fee is usually due at the signing of the franchise agreement and covers the right to use the franchisor's trademarks, name, and related business systems.	$40,000
Initial Investment Definition: The total amount necessary to begin operation of the franchise What you need to know: The initial investment includes the franchise fee, along with other startup expenses such as real estate, equipment, supplies, business licenses, and working capital. This is outlined in a chart in Item 7 of the FDD, showing a range of possible costs from low to high.	$58,200 - $99,700
Net Worth Requirement Definition: The minimum net worth you must have in order to qualify to become a franchisee of this company What you need to know: Net worth is the value of a person's assets minus liabilities. Assets include cash, stocks, retirement accounts, and real estate. Liabilities include items like mortgages, car payments, and credit card debt.	$50,000 - $250,000
Cash Requirement Definition: The minimum liquid capital you must have available in order to qualify to become a franchisee of this company.	$50,000 - $100,000
Royalty Fee Definition: A ongoing fee paid to the franchisor on a regular basis. What you need to know: Most franchisors require franchisees to pay an ongoing royalty fee, which is detailed in Item 6 of the FDD. This fee is typically a percentage of weekly or monthly gross sales, but may also be a flat weekly, monthly, or annual fee.	14%
Ad Royalty Fee Definition: An going fee paid to the franchisor on a regular basis to support advertising or marketing efforts. What you need to know: This may also be called advertising fee, marketing fee, brand fund fee, and more, but the basic purpose is the same-- to support promotion of the brand systemwide. As with the royalty fee, it is detailed in Item 6 of the FDD, and can be a percentage of weekly or monthly gross sales or a weekly, monthly, or annual fee.	3%
Term of Agreement Definition: The length of time your franchise agreement will last. What you need to know: Franchise terms are typically anywhere from 5 to 20 years in length, but are sometimes instead dependent on factors such as the term of your lease. Once your term is up, you may have the option to renew your agreement, typically for a smaller fee than the original franchise fee.	10 years
Is franchise term renewable?	Yes

Financing Options

Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.

Third Party Financing	Ledgers has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll

Training & Support Offered

Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.

Classroom Training	24 hours
Ongoing Support	Purchasing Co-ops Newsletter Meetings & Conventions Toll-Free Line Grand Opening Online Support Security & Safety Procedures Lease Negotiation Field Operations Site Selection
Marketing Support	Co-op Advertising Ad Templates Regional Advertising Social Media SEO Website Development Email Marketing Loyalty Program/App

Operations

Additional details about running this franchise.

Is absentee ownership allowed?	No
Can this franchise be run from home/mobile unit? Definition: The business can be run from your home and/or a vehicle, and it is not necessary to have a retail facility, office space, or warehouse.	No
Can this franchise be run part time? Definition: This business can be run by the owner on a part-time basis (less than 40 hours per week) and/or as a side business; it is not necessary for the business to be open/run full-time.	No
Are exclusive territories available? Definition: An exclusive territory is a fixed area in which you are given the right to operate and in which no other units of the same franchise may be opened. What you need to know: Territory size may be based on factors such as radius, population size, zip codes, and more. Details can be found in Item 12 of the FDD.	Yes