FILING · MN · 2020 FDD · 5+ YEARS OLD
Learning Express FDD (Franchise Disclosure Document) — 2020
The FDD is the 23-item legal disclosure every U.S. franchisor must hand you at least 14 days before you sign or pay anything (FTC Franchise Rule, 16 CFR 436). Learning Express's most recent FDD tracked here is the 2020 FDD · 5+ years old, filed with the Minnesota Department of Commerce (public CARDS portal) (a newer issuance very likely exists; ask the franchisor for it). Registration-state filings are public records, so you can read it free, with no sign-up.
PUBLIC RECORD · FILED 2020 · SOURCE STATE MN
| ITEM 5 | Initial franchise fee | $35,000 |
| ITEM 6 | Ongoing royalty | 5.0% of gross sales |
| ITEM 7 | Total initial investment | $182K–$319K |
| ITEM 3 | Disclosed litigation matters | 0 |
| ITEM 19 | Earnings disclosure (FPR) | Yes — median unit volume $651K (population and period as defined in the filing's Item 19) |
| ITEM 20 | Outlets (fiscal 2019) | 101 franchised at year end · 10 exits (exit rate 9.2%, fiscal 2019) |
| ITEM 21 | Franchisor financial statements | Unmodified (clean) opinion — Burke & Company LLC |
This filing makes an Item 19 earnings claim; we have not yet read how it is built. Open Item 19 and check which units it covers, which it leaves out, and whether it shows costs.
Burke & Company LLC gave an unmodified (clean) opinion on the statements in the 2020 FDD; revenue fell 19% from FY2017 to FY2019 and it reported a net loss in FY2017 and FY2018.
Audit opinion
Unmodified (clean) opinion
Burke & Company LLC
Revenue · FY2019
$4.5M
extracted · not cross-checked
Net income · FY2019
$34K
extracted · not cross-checked
Where FY2019 revenue came from
99% royalties
initial-fee share not extracted
- Fiscal years covered: FY2017, FY2018, FY2019 (2020 FDD)
- Statements are for: not extracted
- Parent / owner: not identified in the statements
| Fiscal year | FY2017 | FY2018 | FY2019 |
|---|---|---|---|
| Total revenue | $5.6Mextracted · not cross-checked | $5.0Mextracted · not cross-checked | $4.5Mextracted · not cross-checked |
| Royalty revenue | $5.5Mextracted · not cross-checked | $4.9Mextracted · not cross-checked | $4.5Mextracted · not cross-checked |
| Net income (loss) | −$64Kextracted · not cross-checked | −$140Kextracted · not cross-checked | $34Kextracted · not cross-checked |
How to read this: royalties recur as long as franchisees trade; initial and development fees arrive only when new franchises are sold. A franchisor whose revenue leans on initial fees is funding itself by selling territories, and that revenue stops when sales slow. Under ASC 606 most franchisors recognize initial fees over the agreement term, so the line understates the cash collected in a strong selling year. Ad-fund revenue, where reported, is included in total revenue as the statements present it.
Each figure links to its page in the filed PDF. “Matched to statement” means our extraction and a second, rule-based read of the statement page agree; “extracted · not cross-checked” means the statement page is a scanned image or could not be read as text. Figures we could not place on a consistent scale are withheld, not guessed. Spotted an error? Report a correction.
Every figure above was extracted by software from the 2020 Learning Express FDD as filed (figures are not individually checked by a person) and links back to that document. Fields that could not be extracted are omitted; no figure here is estimated. Extraction errors are possible: the filing controls, and FDDs are reissued annually; verify against the current issuance before relying on any number. Spotted an error? Franchisors and owners can report it via the contact on our Terms page.
Learning Express FDD questions, answered
Where can I download the Learning Express FDD for free?
Learning Express's 2020 Franchise Disclosure Document is a public record, filed with the Minnesota Department of Commerce (public CARDS portal). It can be downloaded free from the source link on this page — no broker form, no email signup required.
What year is Learning Express's most recent FDD on file?
The most recent Learning Express FDD tracked here is the 2020 FDD · 5+ years old, filed with the Minnesota Department of Commerce (public CARDS portal). Franchisors must update their FDD annually, so a newer issuance very likely exists; confirm you are reading the current issuance before signing.
Does Learning Express's FDD disclose earnings (Item 19)?
Yes — Learning Express makes a financial performance representation in Item 19 of its 2020 FDD, reporting a median unit volume of $651K. Read the basis fine print: franchisors choose which units and metrics to include.
What does Learning Express's FDD Item 20 show?
In fiscal 2019, Learning Express ended with 101 franchised outlets; 10 of 109 open at the start of the year left the system (exit rate 9.2%, fiscal 2019) through terminations, non-renewals, and "ceased operations — other reasons".
The Learning Express validation checklist
questions built from this brand's own filings · read them all on the profile
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