Are the financial performance representations for Goldfish Swim School in Table 1 and Table 2 audited?

According to Goldfish Swim School's 2025 Franchise Disclosure Document, the financial performance representations provided in both Table 1 and Table 2 are based on unaudited average numbers. These figures are derived from the actual historical performance of Goldfish Swim School franchisees during the 2024 calendar year. Table 1 includes data from franchisees open for at least 12 months as of December 31, 2024, while Table 2 focuses on franchisees open for their first full calendar year, meaning between 12 and 24 months as of the same date.

Because the financial data has not been audited by a certified public accountant, prospective franchisees should approach the figures with caution. Goldfish Swim School states that its management prepared the financial performance representation based on information provided by franchisees that they believe to be reliable. However, the document explicitly advises that no CPA has audited these figures or expressed an opinion on their contents or form.

Goldfish Swim School does provide written substantiation of all financial information presented in the financial performance representation upon reasonable request. This allows a prospective franchisee to further investigate the data and understand the basis for the reported figures. Given the lack of an audit, it is particularly important for potential franchisees to carefully review this substantiation and possibly consult with a financial advisor to assess the reliability and relevance of the data to their specific circumstances and market.