What is the 'Broker Engagement Date' for Goldfish Swim School real estate brokers?
Goldfish_Swim_School Franchise · 2025 FDDAnswer from 2025 FDD Document
- (1) selecting a real estate professional ("Real Estate Broker") that has been selected by Developer for site selection for the next Goldfish Swim School to be developed under this Agreement, which Real Estate Broker is subject to approval of Franchisor in its sole discretion no later than eight (8) months prior to the Occupancy Contract Date set forth in the Development Schedule (the "Broker Engagement Date"). Developer acknowledges and agrees that Franchisor reserves the right to designate to Developer a preferred Real Estate Broker to be used by Developer in connection with its location search for its next Goldfish Swim School location. After approval of said Real Estate Broker, the Developer covenants and agrees that the Developer shall, and shall cause its Real Estate Broker to, complete and actively participate in any and all site selection update requests of the Franchisor, including completing any and all forms or documents requested by Franchisor on the timelines requested by Franchisor and actively participating in any requested teleconference updates requested by Franchisor;
Source: Item 22 — CONTRACTS (FDD pages 76–77)
What This Means (2025 FDD)
According to the 2025 Goldfish Swim School FDD, the Broker Engagement Date is defined as no later than eight months prior to the Occupancy Contract Date set forth in the Development Schedule. This means that a Goldfish Swim School developer must select and obtain approval from Goldfish Swim School for their real estate broker at least eight months before the date they plan to occupy the premises, as outlined in their development schedule.
This requirement ensures that Goldfish Swim School has ample time to evaluate and approve the chosen real estate broker, potentially influencing the site selection process. Goldfish Swim School also reserves the right to designate a preferred real estate broker for the developer to use. After the approval of the Real Estate Broker, the developer must ensure that they and their broker actively participate in site selection updates requested by Goldfish Swim School, including completing requested forms and participating in teleconferences.
For a prospective Goldfish Swim School franchisee, this means they need to proactively engage with Goldfish Swim School early in the site selection process. Failing to meet this deadline could potentially delay the project or require the franchisee to find a new broker that meets Goldfish Swim School's approval. The franchisee should factor in this timeline when creating their overall development schedule and budget, as delays can lead to increased costs and missed opening dates.