What may a Gokhale Method franchisee have to sign if they renew or extend their franchise?
Gokhale_Method Franchise · 2024 FDDAnswer from 2024 FDD Document
Date of Issuance: May 15, 2024
I received a disclosure document dated May 15, 2024 that included the following Exhibits:
- A. Gokhale Method Franchise Agreement
- Exhibit A Franchise Fee Schedule and Price List
- Exhibit B Approved Formats
- Exhibit C Personal Guarantee
- Exhibit D State Amendments
- B. Table of Contents of Teachers' Manual
- C. Financial Statements
- D. List of Franchisees
- E. List of Franchisees who have left the system
- F. List of State Agencies
- G. State Addenda to the Disclosure Document
- H. Receipt
Source: Item 22 — CONTRACTS (FDD page 34)
What This Means (2024 FDD)
Based on the 2024 Gokhale Method Franchise Disclosure Document, Exhibit A lists the Gokhale Method Franchise Agreement. Exhibit C is a Personal Guarantee. Exhibit H is a receipt.
In the instance of renewing or extending their franchise agreement, a Gokhale Method franchisee may be required to sign updated versions of these exhibits to reflect the extended terms and conditions. The franchisee should carefully review these documents with legal counsel to understand their obligations and rights during the renewal or extension period.
The Personal Guarantee ensures that the franchisee's obligations are met, and the receipt acknowledges the franchisee has received and reviewed the necessary documents. These contracts protect the franchisor and ensure the franchisee is aware of their responsibilities.