Under what condition does the Goldfish Swim School agreement become effective?

According to the 2025 Goldfish Swim School FDD, the agreement commences on the Commencement Date and continues until the expiration of the Term, unless terminated sooner as provided in the agreement. The agreement will automatically expire on the opening date specified for the last swim school to be opened, as detailed in Section 3.A. This means that the start date and duration of the agreement are tied to specific dates and milestones related to the development schedule of the swim schools.

For a prospective Goldfish Swim School franchisee, this means the agreement's effectiveness is contingent upon meeting the development schedule outlined in Section 3.A. The franchisee needs to be aware of the specific dates and obligations tied to opening the swim schools, as these directly impact the term and expiration of the agreement. Any delays in meeting these milestones could potentially affect the agreement's duration.

It is important for the franchisee to understand the conditions under which the agreement can be terminated early, as this could have significant implications for their investment and business operations. Additionally, the automatic expiration based on the opening date of the last swim school emphasizes the importance of adhering to the development schedule to maximize the benefits of the agreement. Franchisees should carefully review Sections 3.A and related clauses to fully grasp their obligations and the potential consequences of non-compliance.