What was the total net revenue for Goldfish Swim School in 2023?
Goldfish_Swim_School Franchise · 2025 FDDAnswer from 2025 FDD Document
following year. The Company accrues all brand fund fees collected in excess of advertising expended. As of December 31, 2024, 2023, and 2022, cumulative advertising expended exceeded brand fund fees collected, and no liability was recognized.
Brand fund fees from the franchisees of $7,107,549, $6,322,770, and $5,238,689 for 2024, 2023, and 2022, respectively, are included in net revenue in the accom
Source: Item 22 — CONTRACTS (FDD pages 76–77)
What This Means (2025 FDD)
According to Goldfish Swim School's 2025 Franchise Disclosure Document, brand fund fees from franchisees of $6,322,770 for 2023 are included in net revenue. This indicates that a portion of Goldfish Swim School's net revenue is derived from these brand fund fees, which franchisees contribute as a percentage of their monthly sales. These fees are earmarked for advertising, marketing, and other promotional activities.
It is important to note that while the brand fund fees are included in net revenue, the document also mentions brand fund expenses. For 2023, these expenses totaled $6,313,920. The difference between the fees collected and the expenses incurred is used for marketing and promotion in subsequent years. In the case of 2023, the brand fund fees collected slightly exceeded the expenses, meaning the surplus would be carried over for future use.
However, the FDD excerpt does not provide the total net revenue for Goldfish Swim School in 2023. It only specifies the portion attributable to brand fund fees. To determine the overall financial performance of Goldfish Swim School, a prospective franchisee would need to review the complete financial statements, which would include all sources of revenue, such as royalties, franchise fees, and technology fees, as well as all operating expenses.