What is the basis for the Goldfish Swim School franchisor's approval of the opening date?

According to the 2025 Goldfish Swim School Franchise Disclosure Document, before opening a franchised swim school, a franchisee must meet specific requirements to gain franchisor approval. These conditions include paying all outstanding amounts owed to Goldfish Swim School. Additionally, the Control Person and Designated Manager must be present at the swim school's opening for a duration specified by the franchisor. The franchisee must also complete and sign a certification, in a format approved by Goldfish Swim School, confirming that all opening requirements have been met to the franchisor's satisfaction.

These requirements ensure that the franchisee is financially compliant and has key personnel present and trained for the opening. The certification process provides Goldfish Swim School with documented assurance that the franchisee has met all necessary prerequisites, maintaining brand standards and operational readiness.

Failure to comply with these opening conditions and to open the Goldfish Swim School within the Development Period can result in the termination of the Franchise Agreement. In such cases, Goldfish Swim School retains the Franchise Fee and Real Estate Fee, which are considered compensation for the services, time, work, and efforts expended by the franchisor up to the date of the franchisee's failure to open on time. This arrangement underscores the importance of adhering to the franchisor's requirements and timelines, as failure to do so can lead to significant financial loss and termination of the franchise agreement.