What information must I report to Petro Stopping Center regarding my Petro Stopping Center's Gross Sales, and when?
Petro_Stopping_Center Franchise · 2025 FDDAnswer from 2025 FDD Document
You must report Gross Sales and other business information to us using the format, reporting system and accounting system (the "Accounting System") that we require from time to time.
You must establish access to the Accounting System via the Internet at your cost.
You must deliver to us the financial and operating reports in the form, manner, content and time we specify from time to time, including via access to the Accounting System.
We may require you to update all information in the Accounting System at least daily, including but not limited to revenues, expenditures and other pertinent data.
- 14.2 Reports.
You agree to furnish to us on such forms that we prescribe from time to time:
(a) on the Report Day, a report on your Gross Sales during the preceding Accounting Period;
(b) within 30 days after the end of each Accounting Period, a profit and loss statement and supporting documents for the Petro Center for the immediately preceding Accounting Period and year-to-date and a balance sheet as of the end of such Accounting Period; and
(c) within 120 days after the end of each calendar year, reviewed financial statements prepared by an independent certified public accountant.
To the extent those statements include businesses other than that covered by the Franchise Agreement; those statements should include consolidating exhibits that show the operations of the franchised business separately from the others.
The reviewed financial statements must include the following; annual profit and loss statement, statement of cash flows and a balance sheet for your Center as of the end of the calendar year.
We have the right as often as we deem appropriate (including on a daily basis) to access all computer registers and other Computer Systems that you are required to maintain in connection with the operation of the Petro Center and to retrieve all information relating to the Petro Center's operations.
Source: Item 14 — Other investments (FDD pages 131–208)
What This Means (2025 FDD)
According to Petro Stopping Center's 2025 Franchise Disclosure Document, franchisees must report Gross Sales and other business information to Petro Stopping Center using their required format, reporting system, and accounting system. Franchisees must also establish internet access to this Accounting System at their own cost.
Specifically, on the Report Day of each Accounting Period, franchisees must report their Gross Sales for the preceding Accounting Period. The Accounting Period is designated in the Manual (currently a calendar month). Franchisees must also furnish a profit and loss statement with supporting documents for the Petro Stopping Center for the preceding Accounting Period and year-to-date, as well as a balance sheet as of the end of that Accounting Period, within 30 days after the end of each Accounting Period.
Additionally, within 120 days after the end of each calendar year, franchisees must provide reviewed financial statements prepared by an independent certified public accountant. These statements should include consolidating exhibits that separate the franchised business's operations from any other businesses included in the statements. Petro Stopping Center also retains the right to access all computer registers and other Computer Systems to retrieve information relating to the Petro Center's operations, potentially even on a daily basis.