What was the total cost of furniture and equipment for Goldfish Swim School in 2020?
Goldfish_Swim_School Franchise · 2025 FDDAnswer from 2025 FDD Document
xpenses over a covered period up to 24 weeks.
Both loans were completely forgiven as of December 31, 2021. Accordingly, for the years ended December 31, 2021 and 2020, the Company has recognized $693,815 and $780,423, respectively, received under the PPP loan program as other income on the consolidated statement of operations.
Source: Item 22 — CONTRACTS (FDD pages 76–77)
What This Means (2025 FDD)
According to Goldfish Swim School's 2025 Franchise Disclosure Document, the total cost of furniture and equipment in 2020 was $744,869. This figure represents the initial investment in furniture and equipment made by Goldfish Swim School, before accounting for depreciation.
For a prospective franchisee, understanding the cost of furniture and equipment is crucial for budgeting and financial planning. This cost contributes to the overall initial investment required to start a Goldfish Swim School franchise. The FDD also notes that the furniture and equipment are depreciated over a period of 5 to 10 years, which impacts the business's tax liabilities and profitability over time.
It's important to note that this figure reflects the franchisor's costs and may not directly translate to the costs a new franchisee will incur. Franchisees should conduct their own due diligence and obtain detailed quotes from suppliers to accurately estimate their own costs for furniture and equipment. Additionally, they should consider factors such as location, size of the facility, and any specific design requirements that may affect these costs.