Under what condition is the Goldfish Swim School renewal fee payable?
Goldfish_Swim_School Franchise · 2025 FDDAnswer from 2025 FDD Document
se Agreement attached as Exhibit C.
| Type of Fee | Amount | Due Date | Remarks |
|---|---|---|---|
| Local Advertising | 2% of gross sales and if part of an advertising cooperative, no more than 5% of gross sales. | Quarterly | You pay directly to third party vendors, subject to our approval. (Section 11.2) We may require your expenditures to be used in cooperative advertising and such contribution amount is determined by the cooperative, of which you will be a voting member. (Section 11.4) Contributions to the advertising cooperative may exceed this local advertising requirement but in no event be more than 5% of gross sales, and you will receive credit for each dollar contributed to the cooperative toward your local advertising requirement. Goldfish Swim Schools operated by us or our affiliates in an area covered by an Advertising Cooperative will contribute to the Advertising Cooperative on the same basis as comparable franchisees and have the same voting rights as any comparable franchisee. Further information about all advertising programs is included in ITEM 11. |
| Renewal Fee | $10,000 | Payable when you sign the Renewal Franchise Agreement | Payable to us at time of renewal, so long as you satisfy all of the renewal requirements. |
Source: Item 6 — OTHER FEES (FDD pages 17–21)
What This Means (2025 FDD)
According to the 2025 Goldfish Swim School Franchise Disclosure Document, the renewal fee of $10,000 is payable when you sign the Renewal Franchise Agreement. This fee is paid to Goldfish Swim School at the time of renewal, provided that the franchisee has satisfied all of the renewal requirements.
For a prospective franchisee, this means that if you wish to continue operating your Goldfish Swim School after the initial franchise term, you will need to pay a $10,000 renewal fee. This fee is in addition to any other requirements for renewal, which are not detailed in this excerpt but would likely include being in good standing with the franchisor and meeting certain performance standards.
It is important for potential franchisees to understand all the conditions for renewal and ensure they are prepared to meet them, including the financial obligation of the renewal fee. Franchisees should clarify what constitutes 'satisfying all of the renewal requirements' with Goldfish Swim School to avoid any surprises when the time comes to renew their franchise agreement.