Does the Gokhale Method Franchise Disclosure Document state an effective date for Minnesota?
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, Minnesota is one of the states that requires the Franchise Disclosure Document to be registered or filed with the state, or be exempt from registration. The document states that it is effective and may be used in states where it is filed, registered, or exempt from registration, as of the effective date stated. However, the excerpt does not specify the effective date for Minnesota.
Because the effective date for Minnesota is not listed, a prospective franchisee should contact Gokhale Method directly to confirm the specific effective date for the state. This date is important because Gokhale Method can only offer or sell franchises in states where the FDD is active.
Understanding the effective date ensures that the franchisee is entering into an agreement that complies with Minnesota state laws and regulations. It is a crucial step in the due diligence process before investing in a Gokhale Method franchise.