Are the Royalty Schedule and Billing Fee Schedule for a Gokhale Method franchise included in Exhibit A?
Gokhale_Method Franchise · 2024 FDDAnswer from 2024 FDD Document
of payment. The Royalty 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.
- 5.4. Royalty Fee GMI Pay. For GMI-Pay Students we will collect our royalty, Billing Fee and any other amounts that you owe us from the amount tendered by the student to us. After such deductions, we will
remit the balance to you in accordance with our payment schedule.
Source: Item 22 — CONTRACTS (FDD page 34)
What This Means (2024 FDD)
According to Gokhale Method's 2024 Franchise Disclosure Document, the Royalty Schedule and Billing Fee Schedule are included in Exhibit A. Specifically, the Royalty Schedule in effect at the time of signing the agreement is included in Exhibit A. This schedule is subject to change at Gokhale Method's discretion, with thirty days' notice. The Billing Fee Schedule in effect at the time of signing the agreement is also included in Exhibit A and is subject to change with thirty days' notice.
Exhibit A is titled "Franchise Fee Schedule and Price List," indicating that it contains the fees a franchisee pays to Gokhale Method for the rights to teach the Gokhale Method, as specified in the Franchise Agreement. This exhibit is referenced in the list of exhibits included in the disclosure document.
For a prospective franchisee, this means that Exhibit A of the Franchise Agreement is a crucial document outlining the financial obligations to Gokhale Method. It is important to carefully review this exhibit to understand the royalty fees, billing fees, and other costs associated with operating a Gokhale Method franchise. Franchisees should also note that these schedules are subject to change, so staying informed about any updates is essential.