Water Wings Swim SchoolFranchise Cost, Revenue & Review 2026
Data from FDD filing
FranchiseVerdict summary · 2026
A Water Wings Swim School franchise requires a total initial investment of $994K – $1.4M, including a $50K franchise fee. Per the 2025 FDD, average unit revenue was $1.9M[2]. Verdict grade: A. Run a live ROI scan →
Data last verified June 18, 2026 · figures per the 2025 FDD issuance
Overview
- Investment
- $994K – $1.4M
- 67th pct Education
- Avg gross sales
- $1.9M
- 39th pct Education
- Royalty
- N/A
- Units
- 12
- 28th pct Education
- SBA default
- N/A
Quick verdict · Education · color = vs category peers
Green = >15% above Education avg · No shading = within ±15% · Red = >15% below avg · Source: FDD filings + SBA 7(a)
Data from public FDD filings and SBA records. Not financial advice. Methodology
Started franchising in 2025. Newer systems carry more uncertainty but may offer better territories.
52% cash-on-cash return (based on EBITDA). Above the 20% threshold most investors target.
Bottom line
- Total investment $994K – $1.4M including a $50K franchise fee.
- Average unit revenue of $1.9M/year, with an estimated 52% cash-on-cash return (based on EBITDA).
- Verdict A (Top Quintile) with a risk score of 26/100.
- Emerging franchise: only 1 year of franchising with 12 units. Early-stage systems carry higher risk but may offer better territory availability.
Item 1 · who you're contracting with
The Franchisor
- Legal entity
- WW Franchise, LLC
- Parent company
- UA Holdings, LLC
- Incorporated in
- DE
- HQ
- 2350 Airport Freeway, Suite 505, Bedford, Texas 76022
- Auditor
- Deloitte & Touche LLP
- Audited financials
- Franchisor revenue
- $151.5M
- vs $194.7M prior year
Overview
About
Water Wings franchisees operate swim schools offering learn-to-swim programs, water safety training, and competitive swim coaching for children and adults. Day-to-day operations include managing instructors, scheduling classes, maintaining pool facilities, recruiting students through local marketing, and handling enrollment and billing. Success depends heavily on consistent student retention, instructor quality, and facility maintenance in a capital-intensive, location-dependent business.
- CEO
- Avi Shafshak
- Headquarters
- TX
- Founded
- 2025
- FDD year
- 2025
- States available
- 4
FDD Item 7 · 2025 filing
Initial investment breakdown
| Cost component | Low | High |
|---|---|---|
| Initial franchise fee | $50K | $50K |
| Working capital (3–6 mo) | $30K | $60K |
| Equipment, build-out, other | $914K | $1.3M |
| Total initial investment | $994K | $1.4M |
Source: Water Wings Swim School 2025 FDD, Items 5 and 7[2]. “Equipment, build-out, other” is computed as total minus disclosed line items above.
Single-unit · estimated
Returns at a glance
Indicative numbers using FDD Item 7 / Item 19 inputs and category-benchmarked cost ratios. Full single-unit, 25-unit portfolio, and LBO models (with every input editable to stress-test your own scenario) live on the financials page.
Store EBITDA · annual
$280K
15.0% margin
Unlevered ROIC
22%
EBITDA / total invested capital
Payback
4.5 yrs
cash-on-cash, unlevered
Item 7 · what it costs to open + operate
The Vitals
- Total investment
- $994K – $1.4M
- Near category avg vs category
- Liquid capital req'd
- $30K – $60K
- Near category avg vs category
- Franchise fee
- $45K – $50K
- Near category avg vs category
- Royalty
- the greater of 6% of Gross Sales or $2,500 per month
- Ad fund
- 2.0%
- typical 3–5%
- Total fee load
- 8.0%
- vs 9–13% typical
- Payback period
- 1.9 yrs
- From FDD / Item 19
Ongoing fees · Item 6
| Fee | Amount |
|---|---|
| Marketing / ad fund | 2.0% of gross sales |
| Technology fee | $400 |
| Transfer fee | $25K |
| Renewal fee | $25K |
| Total fee load | 8.0% of rev |
Financial Performance
- Avg gross sales
- $1.9M
- Per unit, per year
- Median gross sales
- N/A
- Avg ebitda
- $629K
- Reported as EBITDA in FDD Item 19
- Cash-on-cash
- 52.0%
- Based on EBITDA / investment midpoint
- Item 19 type
- ebitda
- Sample size
- 6 units
- vs category median 14 · small
- Range (low → high)
- $1.0M→$2.7M
- Cohort dispersion (min → max)
- Transparency
- 8 / 5
- vs category median 4 / 5 · above
Compared against 237 Education brands
vs Education averages
How Water Wings Swim School Compares
Unit growth
Item 20 · unit dynamics
The Growth Chart
- Total units
- 12
- Opened
- 2
- Last reporting year
- Closed
- 0
- Turnover rate
- 0.0%
- Company-owned
- 12
- Corporate units in the system
- % franchised
- 0%
- vs corporate-owned
3-year detail · Item 20
- Transfers (3yr)
- 0
Year-over-year franchised unit counts and net change. Source: FDD Item 20.
Item 20 · 10 states with active franchisees
The Territory Map
Derived from franchisee contact records. Shows states with at least one current operator. Not where the franchisor is registered to sell new units (that data is re-extracting in a future refresh).
States derived from franchisee contact records (FDD Item 20). Shows states with at least one current operator on file. Full state registration data (Item 12) will appear on a future FDD refresh.
SBA loan performance
Government records
SBA Loan Data
Aggregated from SBA 7(a) and 504 loan disclosures, public data unique to FranchiseVerdict.
No SBA loan data available for this brand.
Risk analysis
FranchiseVerdict rating + FDD Items 3, 5, 6, 12, 17
Risk & Legal
Modest unit count with litigation-plagued parent company and undisclosed going concern issue presents meaningful legal and operational risk despite strong unit-level economics.
Audited financials (Item 21)
Yes · Deloitte & Touche LLP
Franchisor revenue (Item 21)
Franchisor entity revenue (not unit-level)
Score breakdown · what drove the 26 / 100 rating
- 01HIGHGoing Concern status is FALSE — suggests potential financial instability at corporate level despite healthy unit economics
- 02HIGHLitigation across parent company's entire portfolio (5+ brands) indicates systemic compliance/governance issues, not isolated incidents
- 03MINOROnly 12 units with unknown growth trajectory — insufficient scale and opacity on system expansion or contraction
- 04MINORHigh initial investment ($994K-$1.4M) paired with aggressive royalty structure (6% or $2,500 minimum) creates cash flow pressure for underperforming locations
- 05MINORFranchise fee ($50K) low relative to investment size suggests thin franchisor margins and potential under-capitalization of support infrastructure
Severity inferred from the FDD text · not a regulatory classification
FDD Items 5, 6, 12, 17 · continued from Risk & Legal
Contract & Territory Detail
| Initial term | 10 years |
|---|---|
| Renewal term | 5 years |
| Allowed renewalsℹ | 2 |
| Territory type | Radius/Geographic |
| Protected territory | Yes |
| Online sales rights | Restricted |
| Franchisor can compete | Yes |
| Hire a manager? | Allowed |
| Owner-operator | Optional |
| Non-compete (years)ℹ | 2 years |
| Right of first refusalℹ | Yes |
| Termination notice | 30 days |
| Mandatory arbitration | Yes |
| Jury trial waiver | Yes |
| Governing law | Texas |
| Litigation count | 4 |
Items 10, 11
Training & Operations
- Classroom training
- 16 hrs
- On-the-job training
- 104 hrs
- POS system
- WW Software
- Operating tech stack
Items 5 & 11
Franchisor Support
Technology: WW Software
Item 20 · call current owners
Franchisee Contacts
12 owners to call
Name · phone · city · state. Extracted from FDD Item 20
FDD download
Water Wings Swim School · FDD (2025) PDF
Frequently asked questions
Frequently Asked Questions
How much does it cost to open a Water Wings Swim School franchise?
The total investment to open a Water Wings Swim School franchise ranges from $994K – $1.4M, with an initial franchise fee of $50K. This includes real estate, equipment, inventory, and working capital as disclosed in their Franchise Disclosure Document (FDD).
What do Water Wings Swim School franchise owners earn?
According to Item 19 of the Water Wings Swim School FDD, the average gross sales per unit is $1.9M. Note: this is gross revenue, not profit. Actual owner earnings vary based on location, operating costs, and management.
What is Water Wings Swim School's franchise failure rate?
SBA 7(a) loan charge-off data is not available for Water Wings Swim School (fewer than 10 loans on file). Charge-off rates are one way to gauge franchise risk, but not all franchise loans go through the SBA program. We recommend reviewing turnover and closure data in the FDD and speaking with current franchisees.
How many Water Wings Swim School franchise locations are there?
As of their most recent FDD filing, Water Wings Swim School has 12 total units in the United States, including 0 franchised units and 12 company-owned units. 2 new units were opened in the latest reporting year.
Is Water Wings Swim School a good franchise to buy?
FranchiseVerdict rates Water Wings Swim School as a A-grade franchise with a risk score of 26 out of 100, based on our analysis of investment costs, revenue data, SBA loan performance, and growth trends. Our rating is based solely on publicly available FDD and government data; we recommend speaking with current franchisees before making any investment decision. This is not investment advice.
Data sourced from public FDD filings and SBA 7(a) FOIA records. Not financial advice.
For franchisors
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Data extracted from public FDD filings and SBA 7(a) loan disclosures (FOIA). This information is provided for research purposes only and does not constitute financial, legal, or investment advice. Verify all figures with the franchisor's current Franchise Disclosure Document before making any investment decision.