What is the 'Billing Fee' mentioned in the Gokhale Method franchise agreement?
Gokhale_Method Franchise · 2024 FDDAnswer from 2024 FDD Document
of payment. The Billing Fee Schedule in effect as of the signing of this Agreement is included in the annexed Exhibit A and is subject to change from time to time in our reasonable discretion upon thirty (30) days' notice.
- 5.6. Product Sales. You may purchase from us or our approved vendors Gokhale Method branded products for resale. Such purchases will be at the then current wholesale prices published in our Price List, which will also include their retail prices.
- 5.7. Continuing Education and Related Fees. You agree to pay to us our regular fees for continuing training programs and such other fees as we may require in the Teachers Manual or Policy Statements. These fees include, but are not limited to fees for the Annual Meeting, for teacher webinars, and for membership in Gokhale® Active (Premium). The Billing Fee Schedule for these fees in effect as of the signing of this Agreement is included in the annexed Exhibit A and is subject to change from time to time in our reasonable discretion upon thirty (30) days' notice.
- 5.8. Advertising Expenditures and Contributions. You shall make expenditures and contributions for advertising and brand promotion as specified in Section 12 hereof.
- 5.9.
Source: Item 22 — CONTRACTS (FDD page 34)
What This Means (2024 FDD)
According to the 2024 Gokhale Method Franchise Disclosure Document, the Billing Fee Schedule is related to continuing education and other fees. These fees include, but are not limited to, fees for the Annual Meeting, teacher webinars, and membership in Gokhale Active (Premium). The specific amounts for these fees are detailed in the annexed Exhibit A, which is the Franchise Fee Schedule and Price List. These fees are subject to change at Gokhale Method's discretion, with thirty days' notice.
For a prospective Gokhale Method franchisee, this means that in addition to the initial franchise fee, there are ongoing costs associated with staying current with training and participating in the Gokhale Method community. These costs can vary and may include expenses for attending the Annual Meeting, participating in teacher webinars, and maintaining a premium membership. The franchisee should review Exhibit A to understand the current fee structure and how these fees might impact their overall profitability.
It's important to note that Gokhale Method retains the right to modify these fees with a 30-day notice. This implies that franchisees need to stay informed about potential changes to their operating costs. Franchisees should factor in potential increases in these fees when projecting their expenses and revenue. Furthermore, the franchisee agreement allows Gokhale Method to deduct any charges, fees, or other payments owed to them from payments due to the franchisee for activities within a calendar month. This includes fees for continuing education or for products or equipment purchased from Gokhale Method.