Is the Goldfish Swim School Brand Fund audited annually?
Goldfish_Swim_School Franchise · 2025 FDDAnswer from 2025 FDD Document
und at the same basis as required of franchisees.
- (e) Through our affiliate, we will have an accounting of the Brand Fund prepared each year and we will provide you with a copy if you request it. The Brand Fund is audited each year as a part of our annual audit by an independent certified public accountant.
- (f) During our fiscal year 2024, our affiliate collected $7,107,549 in revenue for the Brand Fund. In our fiscal year 2024, our affiliate spent $7,133,074 from the
Source: Item 11 — FRANCHISOR'S ASSISTANCE, ADVERTISING, COMPUTER SYSTEMS AND TRAINING (FDD pages 32–42)
What This Means (2025 FDD)
According to the 2025 Goldfish Swim School FDD, the Brand Fund is audited each year as part of the annual audit conducted by an independent certified public accountant. Franchisees can request a copy of the Brand Fund's accounting. In fiscal year 2024, the Brand Fund collected $7,107,549 in revenue and spent $7,133,074.
The Brand Fund is administered by Goldfish Swim School's affiliate, which controls the creative concepts, materials, and media used in advertisements. The affiliate also determines the placement and allocation of these advertisements. The funds are kept in a separate account and will not be used for the franchisor's general operating expenses, except for reasonable administrative costs and overhead related to administering the Brand Fund.
Goldfish Swim School aims to use all contributions within the fiscal year they are made and will use any interest or other earnings of the Brand Fund before using current contributions. The franchisor intends for the Brand Fund to be perpetual but retains the right to terminate it if necessary, ensuring that all contributions and earnings are used for advertising and promotional purposes or returned to franchisees on a pro rata basis.