Are the financial statements for Goldfish Swim School audited?
Goldfish_Swim_School Franchise · 2025 FDDAnswer from 2025 FDD Document
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, 2024, 2023, and 2022 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, 2024, 2023, and 2022 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.
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 76)
What This Means (2025 FDD)
According to the 2025 FDD, the financial statements of Goldfish Swim School Franchising, LLC and Subsidiary are indeed audited by an independent auditor. The Independent Auditor's Report included in the FDD confirms that Plante & Moran, PLLC, has audited the consolidated financial statements. This includes the consolidated balance sheets as of December 31, 2024, 2023, and 2022, and the related consolidated statements of operations, members' equity, and cash flows for the years then ended.
The auditor's opinion states that the financial statements present fairly, in all material respects, the financial position of Goldfish Swim School as of December 31, 2024, 2023, and 2022, 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 audits were conducted following auditing standards generally accepted in the United States of America (GAAS). This indicates a thorough and professional examination of the company's financials.
For a prospective franchisee, the presence of an independent audit provides a higher level of confidence in the accuracy and reliability of the financial information presented. It suggests that Goldfish Swim School adheres to standard accounting practices and is transparent in its financial reporting. This can be a significant factor in making an informed investment decision, as it allows potential franchisees to assess the financial health and stability of the franchisor with greater assurance.
It is important for prospective franchisees to carefully review the full auditor's report and the accompanying financial statements, including the notes, to gain a comprehensive understanding of Goldfish Swim School's financial performance and position. Consulting with a financial advisor or accountant to interpret these documents is also advisable.