When are payments due to Gokhale Method for activities within a calendar month?
Gokhale_Method Franchise · 2024 FDDAnswer from 2024 FDD Document
All payments due Franchisee for activities within a calendar month will be made by us within 10 days of the close of such month.
We may deduct any charges, fees or other payments you owe us, including those for continuing education or for products or equipment purchased from us, or any other fees or charges, and remit the balance to you.
Source: Item 22 — CONTRACTS (FDD page 34)
What This Means (2024 FDD)
According to Gokhale Method's 2024 Franchise Disclosure Document, franchisees will receive payments for their activities within a calendar month within 10 days of the month's end. This means that if a franchisee conducts classes or sells products during the month of March, they can expect to receive payment from Gokhale Method by April 10th.
Gokhale Method has the right to deduct any outstanding charges, fees, or payments that the franchisee owes to them. These deductions may include fees for continuing education, purchases of products or equipment, or any other applicable fees or charges. After deducting these amounts, Gokhale Method will remit the remaining balance to the franchisee.
This payment structure is fairly standard in the franchise industry, where franchisors often collect revenue on behalf of franchisees and then distribute the net amount after deducting royalties and other fees. Franchisees should maintain accurate records of their sales and expenses to ensure that the payments they receive from Gokhale Method are accurate and reconcile with their own accounting.