Goldfish Swim School Franchise
Audited FinancialsRisk Score
Pending analysis
Investment Range
$1,663,263 - $3,746,733
Franchise Fee
$40,000
Total US Locations
177
Business Summary
Goldfish Swim School operates a swim school business that provides high-quality swim instruction and exceptional customer service. The franchise focuses on local communities, offering group and private swim lessons, birthday parties, open swim, swim clinics, and other aquatic activities for children aged 4 months to 12 years in a vibrant and engaging setting. Goldfish Swim School also enhances the customer experience by including a snack bar and a retail area.
Corporate History
Goldfish Swim School Franchising LLC was formed in Michigan on June 19, 2008, with the specific purpose of offering Goldfish Swim School franchises. The company began franchising in 2008. Goldfish Swim School does not directly own or operate any of the swim schools it franchises. However, its affiliates do own and operate a few swim schools, with Goldfish Swim School, LLC having been formed in October 2005 and operating one location in Birmingham, Michigan since March 2006. Other affiliates also operate swim schools in various locations since 2023 and 2024.
Financial Overview
Investment Range
$1,663,263 - $3,746,733
Franchise Fee (Low)
$40,000
Franchise Fee (High)
$50,000
Royalty %
6%
Marketing %
2%
Equipment Costs (Low)
$1,468,730
Equipment Costs (High)
$2,896,533
Working Capital
$212,500
Audited Financials
Yes
Offers Financing
No
Audit Opinion
Unqualified opinion
Financial Health Notes
Goldfish Swim School Franchising LLC's financial statements show that it guarantees certain bank loans for an unconsolidated affiliate, MFO. As of December 31, 2024, the outstanding balance on these guaranteed loans was $5,155,833, with a maximum potential future obligation of $8,325,000, payable through August 10, 2028. If MFO defaults, Goldfish Swim School could be obligated to repay the full amount, although the company is currently unaware of any circumstances requiring this. The company's audit opinion for 2024 is unqualified, meaning the financial statements are presented fairly in all material respects.
Financing Details
Goldfish Swim School does not offer any direct or indirect financing to its franchisees. The company also does not guarantee any franchisee's notes, leases, or other obligations. Franchisees will need to secure their own financing.
Performance Metrics
Total US Locations
177
Franchised Units
172
Corporate Units
5
Avg Square Footage
7,750
Franchising Since
2008
Legal & Compliance Analysis
Recent Litigation
No
Bankruptcy
No
Litigation Summary
Goldfish Swim School has no litigation to report in this section, indicating a clear legal record.
Bankruptcy History
Goldfish Swim School has no bankruptcy history to report for the company or its key executives.
Agreement Terms
Initial Term
15 years
Renewal Term
5 years
Renewal Conditions
Goldfish Swim School franchisees may renew their Franchise Agreement if they have fully complied with its provisions throughout the term, have the right to possess an approved location for the renewal term, have made necessary capital expenditures to maintain uniformity with the system, have paid all monetary obligations to Goldfish Swim School, are not in default of any agreement, provide timely written notice of intent to renew, sign Goldfish Swim School's then-current Franchise Agreement (which may have different terms), comply with current training and certification requirements, pay a $10,000 renewal fee, and sign a general release.
Training & Support Program
Franchisor Assistance
Goldfish Swim School provides comprehensive support to its franchisees. Before opening, the company assists with site selection criteria and evaluation, designates the primary responsibility area, and reviews lease or purchase agreements. Franchisees receive specifications for remodeling and equipping the location, along with lists of approved supplies and suppliers. Goldfish Swim School offers initial training to the Control Person, Designated Manager, and other required managers, covering various operational aspects and certifications. On-site assistance is provided for up to three days for the first school and one day for the second. Franchisees also gain access to the Confidential Brand Standards Manual. After opening, ongoing support includes periodic advice via phone, email, and newsletters on operations, accounting, and marketing. Goldfish Swim School conducts periodic on-site visits for consultation, provides additional operations assistance and ongoing training, and approves advertising materials. They also supply modifications to the Brand Standards Manual.
Initial Training Hours
76
Training Location
Virtual platform and in-person at Goldfish Swim School headquarters in Troy, Michigan, or other designated locations.
Ongoing Support
Goldfish Swim School provides ongoing support to its franchisees through periodic advice and general guidance via telephone, email, other electronic communication, and newsletters, covering operational methods, accounting, authorized products/services, and marketing strategies. The company conducts periodic, potentially unannounced, visits to franchised schools for consultation and guidance, providing written reports with required changes or suggested improvements. Goldfish Swim School also offers operations assistance and ongoing training programs, which franchisees, managers, or employees may be required to attend up to four times and eight days per year at their own expense. Additionally, the company approves advertising materials and provides updates to the Confidential Brand Standards Manual.
Franchise Requirements
Ideal Candidate Profile
Goldfish Swim School seeks individuals or entities who meet its financial requirements and are capable of guaranteeing the franchise obligations. Prospective franchisees must designate a Control Person and a Designated Manager who will successfully complete the initial training program and be responsible for day-to-day operations or legal communications. The company looks for suitable individuals of good character and reputation, free from any convictions related to crimes against children, violence, sexual assault, embezzlement, fraud, or moral turpitude. Additionally, candidates and their owners must comply with anti-terrorism laws and not be associated with blocked persons or entities.
Industry Experience Required
No
Management Experience Required
No
Sales Experience Required
No
Technical Skills Required
No
Operational Details
Location Type
retail
Owner Participation
Supervisory
Territory Type
Exclusive
Territory Size Requirements
Goldfish Swim School territories are defined by specific boundaries described by boundary streets, highways, or other recognizable demarcations, and delineated on a map or written description attached to the Franchise Agreement. The boundaries are determined by Goldfish Swim School based on various factors, including general population, the population size of children under 12 years, proximity to competitors, proximity to other Goldfish Swim Schools, and natural, physical, or political boundaries.
Staffing Notes
Goldfish Swim School requires franchisees to maintain a competent and conscientious staff. This includes a Designated Manager or on-site general manager who must provide full-time, day-to-day supervision and complete initial training and certifications (CPR, First Aid, AED, lifeguard, and CPO for managers). Pool deck staff need shallow water lifeguarding certification. Franchisees are solely responsible for hiring, training, compensation, and compliance with all employment laws for their staff. Goldfish Swim School mandates criminal background checks and child abuse registry checks for all employees and independent contractors interacting with children. Staff are expected to be of good character, maintain a neat appearance, and provide courteous service. Franchisees must also adhere to any uniform or dress code requirements set by Goldfish Swim School.