What was the average amount spent on payroll and related expenses for Goldfish Swim School locations?
Goldfish_Swim_School Franchise · 2025 FDDAnswer from 2025 FDD Document
Franchised Swim Schools may not be typical for those in your area.
Table 1
| REVENUE | Average | Revenues # Surpassing % Surpassing Low | 1st Quartile | Median | 3rd Quartile | High | |---|---|---|---|---|---|---| | SWIM LESSONS | 2,050,837 | 95.5% 65 41.9% 270,919 | 1 ,381,954 | 1 ,851,920 | 2 ,522,329 | 6 ,072,092 | | OTHER (1) | 96,267 | 4.5% 71 45.8% 1 0,073 | 6 3,910 | 9 2,979 | 119,262 | 284,331 | | TOTAL REVENUE | 2,147,104 | 100.0% 67 43.2% 280,992 | 1 ,479,757 | 1 ,979,745 | 2 ,629,994 | 6 ,245,914 | | OPERATING EXPENSES | | | | | | | | PAYROLL AND RELATED EXPENSES (2) | 734,110 | 34.2% 63 40.6% 254,358 | 543,029 | 681,134 | 901,574 | 1 ,628,682 | | SUPPLIES (3) | 59,201 | 2.8% 67 43.2% 9,732 | 3 6,170 | 5 2,101 | 8 2,648 | 135,086 | | MERCHANT FEES | 53,008 | 2.5% 71 45.8% 7,224 | 3 6,014 | 5 0,121 | 6 4,647 | 164,050 | | REPAIRS AND MAINTENANCE | 70,276 | 3.3% 70 45.2% 1 0,491 | 4 0,347 | 6 6,664 | 9 1,216 | 236,599 | | INSURANCE (4) | 37,115 | 1.7% 56 36.1% 9,296 | 2 0,424 | 3 1,283 | 4 4,236 | 215,057 | | RENT AND OCCUPANCY COSTS (5) | 213,274 | 9.9% 56 36.1% 4 8,435 | 143,478 | 187,757 | 249,318 | 1 ,240,067 | | UTILITIES 6) | 65,292 | 3.0% 66 42.6% 1 5,675 | 4 9,126 | 6 0,301 | 7 6,758 | 168,508 | | ROYALTIES | 128,826 | 6.0% 67 43.2% 1 6,860 | 8 8,785 | 118,785 | 157,800 | 374,755 | | NATIONAL ADVERTISING FUND | 42,942 | 2.0% 67 43.2% 5,620 | 2 9,595 | 3 9,595 | 5 2,600 | 124,918 | | ADVERTISING AND MARKETING (7) | 63,941 | 3.0% 76 49.0% 1 0,007 | 4 7,426 | 6 3,841 | 8 0,767 | 152,494 | | TOTAL OPERATING EXPENSES | 1,467,985 | 68.4% 58 37.4% 556,370 | 1 ,121,082 | 1 ,368,523 | 1 ,747,657 | 3 ,178,558 | | PROFIT BEFORE OTHER EXPENSES (8) | 679,119 | 31.6% 69 44.5% (685,464) | 361,153 | 617,147 | 897,409 | 3 ,141,627 | Table 2
| REVENUE | Average | Revenues # Surpassing % Surpassing Low | 1st Quartile | Median | 3rd Quartile | High |
|---|---|---|---|---|---|---|
| SWIM LESSONS | 1,791,115 | 95.1% 8 42.1% 270,919 | 977,756 | 1 ,370,488 | 2 ,526,258 | 4 ,037,114 |
| OTHER (1) | 92,509 | 4.9% 10 52.6% 1 0,073 | 5 1,717 | 9 7,718 | 119,203 | 199,291 |
| TOTAL REVENUE | 1,883,624 | 100.0% 8 42.1% 280,992 | 1 ,016,372 | 1 ,473,513 | 2 ,612,513 | 4 ,195,398 |
| OPERATING EXPENSES | ||||||
| PAYROLL AND RELATED EXPENSES (2) | 659,144 | 35.0% 8 42.1% 319,270 | 459,472 | 590,700 | 844,493 | 1 ,103,510 |
| SUPPLIES (3) | 51,241 | 2.7% 10 52.6% 9,732 | 3 3,422 | 5 2,101 | 6 6,432 | 8 5,845 |
| MERCHANT FEES REPAIRS AND MAINTENANCE | 46,891 59,522 | 2.5% 3.2% 8 7 42.1% 36.8% 7,224 1 1,020 | 2 6,548 2 7,193 | 3 9,732 4 6,179 | 6 4,801 8 6,544 | 110,329 136,560 |
| INSURANCE (4) | 27,493 | 1.5% 8 42.1% 1 2,329 | 1 6,831 | 2 6,238 | 3 5,341 | 6 7,740 |
| RENT AND OCCUPANCY COSTS (5) | 276,763 | 14.7% 7 36.8% 4 8,435 | 114,830 | 201,801 | 306,137 | 1 ,240,067 |
| UTILITIES (6) | 74,360 | 3.9% 8 42.1% 2 0,804 | 4 6,041 | 7 1,429 | 9 7,297 | 142,779 |
| ROYALTIES | 113,017 | 6.0% 8 42.1% 1 6,860 | 6 0,982 | 8 8,411 | 156,751 | 251,724 |
| NATIONAL ADVERTISING FUND | 37,672 | 2.0% 8 42.1% 5,620 | 2 0,327 | 2 9,470 | 5 2,250 | 8 3,908 |
| ADVERTISING AND MARKETING (7) | 68,771 | 3.7% 11 57.9% 1 0,007 | 4 9,539 | 7 6,459 | 8 5,546 | 135,942 |
| TOTAL OPERATING EXPENSES | 1,414,874 | 75.1% 7 36.8% 721,934 | 963,122 | 1 ,169,800 | 1 ,705,068 | 3 ,178,558 |
| PROFIT BEFORE OTHER EXPENSES (8) | 468,750 | 24.9% 9 47.4% (685,464) | 9 2,773 | 379,193 | 907,445 | 1 ,460,401 |
- (1) Other Revenue includes birthday parties, vending, retail revenue, and registration revenues.
- (2) Includes all hourly and management labor and payroll taxes and does not include owner's compensation.
- (3) Supplies includes pool supplies, cost of vending and food sales, and other operating supplies.
Source: Item 19 — FINANCIAL PERFORMANCE REPRESENTATIONS (FDD pages 65–68)
What This Means (2025 FDD)
According to Goldfish Swim School's 2025 Franchise Disclosure Document, the average payroll and related expenses for locations open at least 12 months as of December 31, 2024, was $659,144. This data is derived from 155 franchised swim schools. For those locations open for their first full calendar year, meaning they were open at least 12 months but less than 24 months as of December 31, 2024, the average payroll and related expenses were $734,110, based on 19 franchised swim schools.
It's important to note that these figures include all hourly and management labor, as well as payroll taxes, but do not include the owner's compensation. The FDD emphasizes that the financial performance representation is based on data provided by franchisees, which Goldfish Swim School believes to be reliable, though it has not been audited by a certified public accountant. Prospective franchisees have the right to request written substantiation of the financial information presented.
These figures represent averages, and the FDD clearly states that individual results may differ. Factors such as geographic and market characteristics can significantly impact financial performance. The document advises that the average results achieved by the reporting franchised swim schools may not be typical for a franchisee's specific area. Therefore, while the average payroll expense provides a benchmark, prospective franchisees should conduct their own due diligence to estimate potential expenses in their specific market.
Furthermore, the FDD provides additional data points beyond the average, including the 25th percentile ($319,270 or $254,358), median ($459,472 or $543,029), and 75th percentile ($590,700 or $681,134) values for payroll and related expenses. This detailed breakdown allows potential franchisees to assess a range of possible outcomes and understand the variability in payroll expenses among different Goldfish Swim School locations. The high end of the range was $1,103,510 and $1,628,682, respectively.