For Cd One Price Cleaners, what periods are covered by the statements of cash flows?
Cd_One_Price_Cleaners Franchise · 2025 FDDAnswer from 2025 FDD Document
Franchisee shall, at its expense, prepare and deliver to Franchisor financial statements showing the results of operations of the Store for each fiscal month (including year-to-date information) and each fiscal year during the Term using the forms and formats that Franchisor periodically specifies.
The statements shall include an income statement (both consolidated and for each CD Store if Franchisee and its affiliates collectively operate more than one CD Store), a balance sheet and a statement of cash flows.
For financial statements covering a fiscal year, the statements shall, at Franchisor's option, be accompanied by a review report, prepared by an independent certified public accountant approved by Franchisor.
Financial statements shall be furnished within fifteen (15) days after the end of each fiscal month and within sixty (60) days after the end of each fiscal year.
Franchisee also shall submit, within five (5) days of filing, its federal and state tax returns for each year during the Term; provided, however, that if Franchisee is an individual, Franchisee may, at its option, submit only those schedules to its personal tax filings which reflect the revenues and expenses of the Store.
- 11.5 Submission of Periodic Reports.
Franchisee shall, at its expense, provide Franchisor, on forms and in the manner prescribed by Franchisor, with (i) daily operating reports reflecting the Store's operations during the previous day; (ii) weekly reports of the Store's Gross Revenues; and (iii) such other data and information regarding the operation of the Store (other than employee-related information) as Franchisor may periodically require, within the time frames established by Franchisor from time to time.
The weekly report of Gross Revenues shall be due by the close of the first business day of the following week, or such other time as Franchisor may specify.
Franchisee's submitting reports and other information to Franchisor is deemed to be Franchisee's representation that such reports and information are true and correct.
Source: Item 21 — Financial Statements (FDD page 72)
What This Means (2025 FDD)
According to the 2025 FDD, Cd One Price Cleaners requires franchisees to provide financial statements showing the results of operations for each fiscal month and year. These statements must include an income statement, balance sheet, and a statement of cash flows.
For financial statements covering a fiscal year, Cd One Price Cleaners has the option to request a review report prepared by an independent certified public accountant. Franchisees must furnish these financial statements within fifteen days after the end of each fiscal month and within sixty days after the end of each fiscal year.
In addition to these annual and monthly reports, Cd One Price Cleaners also requires franchisees to submit daily operating reports, weekly reports of gross revenues, and any other data or information regarding the store's operation as the franchisor may periodically require. The weekly report of Gross Revenues is due by the close of the first business day of the following week, or at another time specified by Cd One Price Cleaners. Franchisees are representing that all submitted reports and information are true and correct.