What factors affect the cost of leasehold improvements for a Goldfish Swim School?
Goldfish_Swim_School Franchise · 2025 FDDAnswer from 2025 FDD Document
4 Leasehold Improvements. To adapt a newly acquired facility for operation of the franchised swim school, it must be renovated. Leasehold improvement costs could include, without limitation, site testing and diligence, excavation, import and export of material, structural changes, concrete slabs, floor and window covering, wall treatments, carpentry, millwork, vapor barriers, wall and ceiling assemblies, doors and windows, painting, electrical, plumbing, heating and cooling systems, pool construction and related equipment, municipal, licensing, contractor's fees, pool pump and filtration equipment, pool water heating system, pool water quality monitoring, chemical controls and input systems, safety equipment for the pool and mechanical areas, and specialized systems responsible for maintaining consistent temperatures and humidity throughout the franchised Swim School. The cost of purchasing equipment will depend on the unique attributes of the Swim School's site, price variances and shipping distances from suppliers. Estimate include sales taxes and shipping costs. The cost of the leasehold improvements will vary depending on factors, including without limitation, municipal approvals required, modifications based on availability of required utilities, extent of existing demolition requirements, the space's previous use, the size, condition and location of the facility, local wage rates and the cost of materials. The amounts you pay for leasehold improvements are typically non-refundable. You should inquire about the refund policy of the contractor at or before the time of hiring. Some costs may be offset by construction allowances or landlord improvement commitments that you negotiate in your lease.
Source: Item 7 — ESTIMATED INITIAL INVESTMENT (FDD pages 21–27)
What This Means (2025 FDD)
According to Goldfish Swim School's 2025 Franchise Disclosure Document, the cost of leasehold improvements can vary significantly based on several factors. These costs, which are typically non-refundable, are influenced by municipal approvals, modifications required due to the availability of utilities, and the extent of demolition needed. The previous use of the space, along with its size, condition, and location, also play a crucial role in determining the overall expense.
Local wage rates and the cost of materials are also significant factors affecting leasehold improvement expenses for a Goldfish Swim School franchise. These costs encompass a wide range of improvements necessary to adapt a facility for use as a swim school, including site testing, excavation, structural changes, flooring, wall treatments, carpentry, and the installation of essential systems like electrical, plumbing, heating, and cooling. Pool construction and the installation of related equipment, such as pumps, filtration systems, water heaters, and chemical controls, are also included in these costs.
Prospective franchisees should also consider potential offsets to these costs through construction allowances or landlord improvement commitments negotiated in their lease. Given the wide range of potential expenses, the FDD estimates that leasehold improvements for a Goldfish Swim School can range from $1,334,230 to $2,685,033. It is important for franchisees to inquire about the refund policies of contractors before hiring them, as these amounts are typically non-refundable.