What was the consolidated net income for Goldfish Swim School in 2023?
Goldfish_Swim_School Franchise · 2025 FDDAnswer from 2025 FDD Document
ystematic basis over the period in which the Company recognizes as expenses the related costs for which the grant is intended to compensate. The Company elected to record the PPP loan forgiveness as grant income separately from the related expenses in nonoperating income (expense) and the ERC as a reduction of operating expenses.
Management has determined it is probable the Company met the eligibility conditions for the ERC, including having operations suspended to comply with a government order relat
Source: Item 22 — CONTRACTS (FDD pages 76–77)
What This Means (2025 FDD)
Based on the 2025 Goldfish Swim School FDD, information regarding the consolidated net income for 2023 is not present. However, the FDD does include information on the Employee Retention Credit (ERC). For the year ending December 31, 2023, the ERC did not impact the consolidated statement of operations.
While the FDD does not explicitly state the consolidated net income, it does provide a detailed overview of the company's financial practices, revenue recognition, and expense management. This includes how Goldfish Swim School Franchising, LLC recognizes revenue from royalties, franchise fees, brand fund fees, and technology fees. Additionally, the document outlines the criteria used for classifying cash equivalents and handling restricted cash, which consists of unspent advertising funds. For example, the amount of restricted cash for advertising funds was $394,607 as of December 31, 2023.
To gain a comprehensive understanding of Goldfish Swim School's financial performance, it is recommended that a prospective franchisee ask the franchisor directly for the consolidated net income figures. Understanding the net income can help potential franchisees assess the overall profitability and financial stability of the franchise system.