Does the Gokhale Method Franchise Disclosure Document state an effective date for Michigan?
Gokhale_Method Franchise · 2024 FDDAnswer from 2024 FDD Document
The following states have franchise laws that require that the Franchise Disclosure Document be registered or filed with the state, or be exempt from registration: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin.
This document is effective and may be used in the following states, where the document is filed, registered, or exempt from registration, as of the Effective Date stated below:
Source: Item 22 — CONTRACTS (FDD page 34)
What This Means (2024 FDD)
According to the 2024 Gokhale Method Franchise Disclosure Document, Michigan is one of the states that has franchise laws requiring the Franchise Disclosure Document to be registered or filed with the state, or be exempt from registration. However, the document does not provide the specific effective date for use of the FDD in Michigan.
For a prospective Gokhale Method franchisee, this means that while the FDD acknowledges Michigan's franchise laws, it does not state when the FDD was officially effective for use in that state. This information is important because it confirms that the franchisor has complied with state-specific regulations regarding franchise offerings.
Therefore, a potential franchisee in Michigan should confirm the effective date for the state with Gokhale Method to ensure compliance with Michigan franchise laws. This can be done by contacting the franchisor directly or consulting with a franchise attorney.