What is the Teacher Referral Fee for Gokhale Method as of the signing of the agreement?
Gokhale_Method Franchise · 2024 FDDAnswer from 2024 FDD Document
12 hereof.
- 5.9. Teacher Referral Fees. Should you refer to us a new teacher for the Gokhale Method, and that teacher is accepted by us as a teacher and becomes qualified by us to teach the System, we will pay you a Teacher Referral Fee in accordance with our Teacher Referral Fee Schedule in effect as of the time of payment. The Teacher Referral Fee Schedule in effect as of the signing of this Agreement is $100 and is subject to change from time to time in our reasonable discretion upon thirty (30) days' notice. Accepting and qualifying such Teacher will be at Franchisor's sole discretion.
- 5.10. Payments. 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 bal
Source: Item 22 — CONTRACTS (FDD page 34)
What This Means (2024 FDD)
According to the 2024 Gokhale Method Franchise Disclosure Document, the Teacher Referral Fee is $100 as of the signing of the agreement. This fee is paid to a franchisee who refers a new teacher to Gokhale Method, provided that the referred teacher is accepted and qualified by Gokhale Method to teach the system.
It's important to note that the acceptance and qualification of the referred teacher are at Gokhale Method's sole discretion. This means that simply referring someone does not guarantee the franchisee will receive the referral fee. The referred teacher must meet Gokhale Method's standards and requirements to become a qualified instructor.
The Teacher Referral Fee Schedule is subject to change at Gokhale Method's discretion, with thirty days' notice. This implies that the $100 fee is not fixed and may be adjusted in the future. Franchisees should stay informed of any changes to the fee schedule to accurately anticipate potential referral income.
All payments due to the franchisee for activities within a calendar month will be made by Gokhale Method within 10 days of the close of that month. Gokhale Method may deduct any charges, fees, or other payments owed to them by the franchisee, including those for continuing education or products purchased, before remitting the balance. This means that the referral fee could be offset by any outstanding amounts the franchisee owes to Gokhale Method.