Does the Goldfish Swim School FDD include financial statements?
Goldfish_Swim_School Franchise · 2025 FDDAnswer from 2025 FDD Document
Plante & Moran, PLLC
Suite 300 19176 Hall Road Clinton Township, MI 48038 Tel: 586.416.4900 Fax: 586.416.4901 plantemoran.com
Independent Auditor's Report
To the Members Goldfish Swim School Franchising, LLC and Subsidiary
Opinion
We have audited the consolidated financial statements of Goldfish Swim School Franchising, LLC and Subsidiary (the "Company"), which comprise the consolidated balance sheet as of December 31, 2023, 2022, and 2021 and the related consolidated statements of operations, members' equity, and cash flows for the years then ended, and the related notes to the consolidated financial statements.
In our opinion, the accompanying consolidated financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2023, 2022, and 2021 and the results of its operations and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinion
We conducted our audits in accordance with auditing standards generally accepted in the United States of America (GAAS). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audits of the Consolidated Financial Statements section of our report. We are required to be independent of the Company and to meet our ethical responsibilities in accordance with the relevant ethical requirements relating to our audits. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Responsibilities of Management for the Consolidated Financial Statements
Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with accounting principles generally accepted in the United States of America and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the consolidated financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern within one year after the date that the consolidated financial statements are issued or available to be issued.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 76)
What This Means (2025 FDD)
According to the 2025 Goldfish Swim School Franchise Disclosure Document, the document includes consolidated financial statements. These statements comprise the consolidated balance sheets as of December 31, 2023, 2022, and 2021, along with the related consolidated statements of operations, members' equity, and cash flows for the years then ended, and the related notes to the consolidated financial statements.
The financial statements have been audited by Plante & Moran, PLLC. Their independent auditor's report expresses an opinion that the financial statements present fairly the financial position of Goldfish Swim School as of December 31, 2023, 2022, and 2021, and the results of its operations and its cash flows for the years then ended, in accordance with accounting principles generally accepted in the United States of America.
The inclusion of these audited financial statements provides prospective franchisees with important information regarding the financial health and performance of Goldfish Swim School. This allows them to make a more informed decision about investing in a franchise. It is standard practice for franchisors to include audited financial statements in their FDD to ensure transparency and provide potential franchisees with a clear picture of the franchisor's financial standing.