Does the Aplus FDD include the entirety of Sunoco LP's Annual Report?
Aplus Franchise · 2024 FDDAnswer from 2024 FDD Document
Our affiliate, Sunmarks, LLC, a Delaware limited liability company ("Sunmarks"), was formed on May 23, 1990, and owns certain Marks and licenses us the right to use them and to sub-license their use to franchisees. Sunmarks shares our principal business address. Sunmarks has never offered franchises in any line of business.
Our affiliate, Sunoco, LLC, a Delaware limited liability company, was formed on November 19, 2013 and provides certain petroleum products and services to our franchisees and its dealers and distributors. Sunoco, LLC shares our principal business address, and has never offered franchises in any line of business.
Our affiliate, Sunoco GP, LLC a Delaware limited liability company ("Sunoco GP"), was formed on June 11, 2012 and provides certain other APLUS services to our franchisees. Sunoco GP shares our principal business address. Sunoco GP has never offered franchises in any line of business.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 68)
What This Means (2024 FDD)
Based on the 2024 Aplus Franchise Disclosure Document excerpts, there is no mention of including the entirety of Sunoco LP's Annual Report within the FDD. The document does refer to Sunoco, LLC, Sunoco GP, LLC, and Sunmarks, LLC as affiliates of Aplus.
The FDD outlines various aspects of the Aplus franchise program, including financial reporting requirements, audits, and record-keeping obligations for franchisees. These stipulations ensure compliance and provide Sunoco with the necessary data for assessing royalties and overall performance.
While the FDD details the relationship between Aplus and its affiliates, as well as the franchisee's responsibilities regarding financial records and reporting, it does not explicitly state whether the complete Sunoco LP Annual Report is included. A prospective franchisee should confirm with Aplus whether the full Sunoco LP Annual Report is included and, if not, how they can access this information for their due diligence.