What is the name of the agreement to which Exhibit C, the Personal Guarantee, is attached for the Gokhale Method franchise?
Gokhale_Method Franchise · 2024 FDDAnswer from 2024 FDD Document
EXHIBIT C TO GOKHALE METHOD FRANCHISE AGREEMENT PERSONAL GUARANTEE
Source: Item 22 — CONTRACTS (FDD page 34)
What This Means (2024 FDD)
According to Gokhale Method's 2024 Franchise Disclosure Document, Exhibit C, the Personal Guarantee, is attached to the Gokhale Method Franchise Agreement. This is explicitly stated in multiple locations within Item 22, Contracts, of the FDD.
For a prospective franchisee, this means that if the franchisor requires a personal guarantee, it will be tied directly to the main Franchise Agreement. The personal guarantee ensures that the franchisee (and potentially other individuals acting as guarantors) will be personally liable for the financial and operational obligations of the franchise.
It is important for a potential Gokhale Method franchisee to carefully review both the Franchise Agreement and the Personal Guarantee (Exhibit C) with legal counsel to fully understand the obligations and risks involved. The franchisee should pay close attention to the conditions under which the guarantee can be invoked and the extent of personal liability.