Where are continuing education fees reported on the Gokhale Method's Statement of Operations?
Gokhale_Method Franchise · 2024 FDDAnswer from 2024 FDD Document
ail 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)
Based on the 2024 Franchise Disclosure Document, the specific line item or category where Gokhale Method reports continuing education fees on its Statement of Operations is not explicitly detailed in the provided excerpts. However, Item 22 discusses continuing education fees, noting that franchisees must pay regular fees for continuing training programs, including the Annual Meeting, teacher webinars, and membership in Gokhale® Active (Premium). The Billing Fee Schedule for these fees is included in Exhibit A and is subject to change with thirty days' notice.
While the excerpts do not specify where these fees are listed on the Statement of Operations, they do indicate that Gokhale Method may deduct these fees from payments owed to the franchisee. Specifically, the franchisor may deduct charges, fees, or other payments owed, including those for continuing education, products, or equipment purchased, before remitting the balance to the franchisee.
To gain a clearer understanding, prospective Gokhale Method franchisees should ask the franchisor for a sample Statement of Operations. This will allow them to see exactly where continuing education fees are categorized and how they impact the overall financial performance of a Gokhale Method franchise. Understanding the placement of these fees is crucial for accurate financial planning and assessment of the franchise's profitability.