What is the average insurance expense for a Goldfish Swim School, as shown in Table 2?
Goldfish_Swim_School Franchise · 2025 FDDAnswer from 2025 FDD Document
| 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 |
Source: Item 19 — FINANCIAL PERFORMANCE REPRESENTATIONS (FDD pages 65–68)
What This Means (2025 FDD)
According to the 2025 Goldfish Swim School FDD, Table 2 provides an overview of the average expenses for franchisees that have been open for their first full calendar year. This means the data is based on swim schools open at least 12 months but less than 24 months as of December 31, 2024. The average insurance expense for these Goldfish Swim School locations is $27,493.
This figure represents the average cost of premiums for all required insurance policies, including liability, workers' compensation, and health insurance. It's important to note that this is just an average, and actual insurance expenses can vary significantly based on factors such as location, coverage levels, and the franchisee's specific circumstances.
Prospective franchisees should consider this average as a benchmark but should obtain their own insurance quotes to get a more accurate estimate of their potential expenses. Understanding the factors that influence insurance costs and carefully evaluating coverage options is crucial for managing this aspect of the business effectively. The FDD indicates that 8 of the 19 reporting locations, or 42.1%, surpassed the average insurance expense. The insurance expense ranged from a low of $12,329 to a high of $67,740.