Where can I find the 'Commencement Date' as specified in the Goldfish Swim School Area Development Agreement?
Goldfish_Swim_School Franchise · 2025 FDDAnswer from 2025 FDD Document
| This | Area | Development | Agreement | ("Agreement") | is | entered | into | as | of | the |
|---|---|---|---|---|---|---|---|---|---|---|
| day of, 20 ("Commencement Date"), by and between GOLDFISH | ||||||||||
| SWIM SCHOOL FRANCHISING, LLC | ("Franchisor," "us" or "we"), a Michigan limited | |||||||||
| liability company, with its principal place of business located at 2701 Industrial Row Drive, | ||||||||||
| Troy, Michigan 48084, and ("Developer") with its principal place | ||||||||||
| of business located at and its Principals (as defined herein | ||||||||||
| below). |
Source: Item 22 — CONTRACTS (FDD pages 76–77)
What This Means (2025 FDD)
According to the 2025 Goldfish Swim School FDD, the Commencement Date of the Area Development Agreement can be found within the agreement itself. Specifically, the FDD states that the agreement includes a section that clearly indicates the Commencement Date. This date marks the official start of the agreement between Goldfish Swim School Franchising, LLC and the developer. The agreement specifies that it is entered into as of a particular day in 20--.
Understanding the Commencement Date is crucial for a prospective Goldfish Swim School area developer because it sets the timeline for various obligations and milestones outlined in the agreement. For instance, the term of the agreement, which defines how long the agreement is in effect, is calculated from the Commencement Date. Additionally, the developer's rights and responsibilities, such as developing and operating swim schools within the designated territory, become effective from this date.
It is important for potential developers to carefully review this section of the Area Development Agreement to fully understand their commitments and the duration of their partnership with Goldfish Swim School. Knowing the Commencement Date helps in planning and managing the development schedule, ensuring compliance with the agreement's terms, and understanding when the agreement will expire, which impacts future development rights.