When do late fees begin to accrue for Goldfish Swim School?

According to Goldfish Swim School's 2025 Franchise Disclosure Document, late fees begin to accrue from the date payment was due, but not received, or the date of underpayment. This means that if a franchisee fails to make a payment by the specified due date or if the payment is less than the full amount owed, Goldfish Swim School will start charging late fees immediately.

This policy is fairly standard in franchising, as franchisors need to ensure timely payments to maintain their own financial stability and support services for all franchisees. The immediate accrual of late fees incentivizes franchisees to prioritize and manage their payments effectively.

Prospective Goldfish Swim School franchisees should carefully note the due dates for all fees and ensure they have systems in place to make timely and accurate payments to avoid incurring these additional charges. Understanding the specific due dates for fees such as the Technology Fee, payable on the 5th of each month, is crucial for financial planning and compliance.