Is the Development Fee for a Goldfish Swim School development agreement refundable under any circumstances?

According to the 2025 Goldfish Swim School Franchise Disclosure Document, the Development Fee is not refundable under any circumstances. The document states explicitly that once the Development Agreement is executed and the fee is paid, the developer is not entitled to a refund of any portion of the Development Fee.

This non-refundable policy means that prospective Goldfish Swim School developers should carefully consider their decision before entering into a Development Agreement. The Development Fee is calculated based on the number of swim schools the developer plans to open according to the Development Schedule. For the first swim school, the initial franchise fee is $50,000, and for each subsequent swim school, it is $40,000. The Development Fee covers the initial franchise fee for the first school and half of the initial franchise fee ($20,000) for each additional school.

Given that the Development Fee is non-refundable, developers should conduct thorough due diligence, including market research and financial planning, to ensure they are prepared to meet the obligations of the Development Agreement. This includes securing suitable locations and having the capital to develop the planned number of Goldfish Swim School locations. The franchisor also disclaims any guarantees regarding potential gross sales, profits, or earnings, emphasizing that success depends on the developer's efforts.