How much notice will Gokhale Method provide before changing the Royalty Schedule?
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.
Source: Item 22 — CONTRACTS (FDD page 34)
What This Means (2024 FDD)
According to the 2024 Gokhale Method Franchise Disclosure Document, Gokhale Method may change the Billing Fee Schedule from time to time in its reasonable discretion, providing franchisees with thirty (30) days' notice. This applies to the Billing Fee Schedule in effect as of the signing of the Franchise Agreement, which is included in Exhibit A.
This means that Gokhale Method has the right to adjust the fees franchisees pay for various services and programs, such as continuing training programs, the Annual Meeting, teacher webinars, and membership in Gokhale® Active (Premium). However, they must inform franchisees of these changes at least 30 days in advance.
For a prospective franchisee, this indicates a need to stay informed about potential fee adjustments and to factor in possible future increases when assessing the financial viability of the franchise. It is important to regularly review communications from Gokhale Method to remain aware of any upcoming changes to the Billing Fee Schedule.