What is the amount of the renewal fee required to renew a Goldfish Swim School franchise?
Goldfish_Swim_School Franchise · 2025 FDDAnswer from 2025 FDD Document
| Provision | Section in Franchise or Other Agreement | Summary |
|---|---|---|
| i. Franchisee's obligations on termination/non renewal | Section 17.1 | If the Franchise Agreement is terminated or not renewed, you must: stop operating the franchised swim school; stop using any trade secrets, confidential information, the System and the Marks; if requested, assign your interest in the franchise location to us; cancel or assign to us any assumed names; pay all sums owed to us including damages and costs incurred in enforcing the Franchise Agreement; return the Confidential Brand Standards Manual, trade secrets and all other confidential information; assign your telephone and facsimile numbers to us; comply with the covenants not to compete and any other surviving provisions of the Franchise Agreement. |
| m. Conditions for franchisor approval of transfer | Section 18.2 | We will consent to a transfer if: we have not exercised our right of first refusal; all obligations owed to us are paid; you and the transferee have signed a general release in a form the same as or similar to the General Release attached to the Franchise Agreement; the prospective transferee meets our business and financial standards; the transferee and all persons owning any interest in the transferee sign the then current Franchise Agreement; you provide us with a copy of all contracts and agreements related to the transfer; you or the transferee pay a transfer fee of 50% of the then-current initial franchise fee; the transferee or the owners of transferee have agreed to be personally bound by all provisions of the Franchise Agreement; you have agreed to guarantee performance by the transferee, if requested by us; the transferee has obtained all necessary consents and approvals of third parties; you or all of your equity owners have signed a non-competition agreement in a form the same as or similar to the Nondisclosure and Non-Competition attached to the Franchise Agreement; the transferee has agreed that its Designated Manager or on-site general |
Source: Item 17 — RENEWAL, TERMINATION, TRANSFER AND DISPUTE RESOLUTION (FDD pages 54–64)
What This Means (2025 FDD)
Based on the 2025 Goldfish Swim School Franchise Disclosure Document, the document does not specify the renewal fee for renewing a franchise agreement. The FDD does outline the franchisee's obligations upon termination or non-renewal, which include ceasing operations, discontinuing the use of trade secrets and the Goldfish Swim School system, and fulfilling all outstanding financial obligations.
While the FDD details the conditions for transferring a franchise, including a transfer fee equal to 50% of the then-current initial franchise fee, it does not provide similar information regarding renewal fees. The document also specifies various termination conditions and associated obligations but remains silent on renewal costs.
A prospective Goldfish Swim School franchisee should inquire directly with the franchisor about the renewal fee and any other conditions for renewing the franchise agreement. Understanding these costs is crucial for long-term financial planning and assessing the overall profitability of the franchise.