What was the amount of cash paid for interest by Goldfish Swim School in 2022?
Goldfish_Swim_School Franchise · 2025 FDDAnswer from 2025 FDD Document
| Cash paid for interest and income taxes was as follows: | |||||
|---|---|---|---|---|---|
| 2024 | 2023 | 2022 | |||
| Interest | $ | - $ | - $ | 13,267 | |
| Income taxes | 268,934 | 264,960 | 184,686 | ||
| Significant noncash investing and financing activities are as follows: | 2024 | 2023 | 2022 | ||
| Accrued member distributions | $ | - $ | 41,052 $ | - | |
| Advances to member | 235,807 | - | - | ||
| Member distributions used to settle related party | |||||
| advance | 163,222 | 192,688 | 856,443 | ||
| Lease liability arising from adoption of ASC 842 | - | - | 1,869,195 |
Source: Item 23 — RECEIPTS (FDD pages 77–389)
What This Means (2025 FDD)
According to the 2025 Goldfish Swim School Franchise Disclosure Document, the cash paid for interest in 2022 was $13,267. This figure provides insight into the company's financial obligations and how it manages its debt.
For a prospective franchisee, understanding the franchisor's interest payments can be useful in assessing the overall financial health and stability of the company. High-interest payments might indicate a higher level of debt, which could impact the franchisor's ability to support its franchisees or invest in new initiatives. Conversely, lower interest payments could suggest a more financially stable organization.
It's important to note that this figure represents the cash paid for interest by the franchisor, Goldfish Swim School Franchising LLC, and not the potential interest expenses a franchisee might incur when financing their own Goldfish Swim School location. Franchisees should conduct their own financial analysis and consult with financial advisors to understand the potential costs and obligations associated with opening and operating a franchise.