Is there a specific date by which the Gokhale Method receipt must be signed?
Gokhale_Method Franchise · 2024 FDDAnswer from 2024 FDD Document
If Gokhale Method Institute, Inc. offers you a franchise, it must provide this Disclosure Document to you 14 calendar days before you sign a binding agreement with, or make a payment to, the franchisor or an affiliate in connection with the proposed franchise sale or grant.
If Gokhale Method Institute, Inc. does not deliver this Disclosure Document on time or if it contains a false or misleading statement, or a material omission, a violation of federal law and state law may have occurred and should be reported to the Federal Trade Commission, Washington, D.C. 20580 and appropriate state agency listed in Exhibit "H". Gokhale Method Institute, Inc.'s registered agent authorized to receive service of process is Esther Gokhale, Gokhale Method Institute, Inc., 3790 El Camino Real, #1033, Palo Alto, CA 94306.
New York law requires a franchisor to provide the Franchise Disclosure Document at the earlier of the first personal meeting or ten (10) business days before the execution of the franchise or other agreement or the payment of any consideration that relates to the franchise relationship.
The name, principal business address and telephone number of each franchise seller offering the franchise are:
Esther Gokhale Gokhale Method Institute, Inc. 3790 El Camino Real, #1033 Palo Alto, CA 94306
Date of Issuance: May 15, 2024
I received a disclosure document dated May 15, 2024 that included the following Exhibits:
- A. Gokhale Method Franchise Agreement
- Exhibit A Franchise Fee Schedule and Price List
- Exhibit B Approved Formats
- Exhibit C Personal Guarantee
- Exhibit D State Amendments
- B. Table of Contents of Teachers' Manual
- C. Financial Statements
- D. List of Franchisees
- E. List of Franchisees who have left the system
- F. List of State Agencies
- G. State Addenda to the Disclosure Document
- H. Receipt
Source: Item 23 — RECEIPTS (FDD pages 34–122)
What This Means (2024 FDD)
According to the 2024 Gokhale Method Franchise Disclosure Document, while there isn't a specific date to sign the receipt, Gokhale Method must provide the Disclosure Document to you 14 calendar days before you sign a binding agreement or make a payment related to the franchise. This timeframe allows potential franchisees to thoroughly review the document and seek professional advice if needed. New York law requires that the Franchise Disclosure Document be provided at the earlier of the first personal meeting or ten (10) business days before the execution of the franchise or other agreement or the payment of any consideration that relates to the franchise relationship.
This 14-day (or 10 business days in New York) period is a standard practice in franchising, mandated by the Federal Trade Commission (FTC) and various state laws to protect prospective franchisees. It ensures that franchisees have adequate time to assess the opportunity and make informed decisions without feeling pressured.
If Gokhale Method fails to deliver the Disclosure Document on time, or if the document contains false or misleading statements, or material omissions, it could be a violation of federal and state laws. In such cases, the franchisee should report this to the Federal Trade Commission and the appropriate state agency. The registered agent authorized to receive service of process for Gokhale Method Institute, Inc. is Esther Gokhale, located at 3790 El Camino Real, #1033, Palo Alto, CA 94306.
The issuance date of the franchise disclosure document is May 15, 2024. The franchisee acknowledges receipt of this document and its included exhibits, which cover various aspects of the franchise agreement, financial statements, and franchisee lists.