Becoming a swimming school owner wasn’t at the top of Bob Ryan’s list when he envisioned a future career in corporate America. After all, he was a finance guy, earned an MBA from the University of Chicago, Booth School of Business and was a successful derivatives trader for a trading company in Chicago. But after his wife, Kathy presented him with the novel idea of becoming a Goldfish Swim School franchisee, he crunched the numbers and decided to take the plunge!
Kathy first learned about Goldfish Swim School after visiting her sister in Birmingham, Michigan, which is where the original school opened. Kathy was ready to return to the workforce and thought the swim school was a great business concept because there were limited options for children to receive quality swim instruction in the Chicago. After thoroughly researching Goldfish’s business model and franchising opportunities, Kathy and Bob became franchisees, opening their first Goldfish Swim School in Roscoe Village.
Initially, Bob was going to keep his day job as a trader, and just keep the books for the school. However, with construction delays and overruns, he realized that he couldn’t just dip one toe in. For six months, he and Kathy worked seven days a week to get the project up and running. Six years later they couldn’t be happier. Not only has becoming a franchisee been a smart choice for their family, they feel like they are providing a service to the community, which has been extremely rewarding. Their customers are like family and regularly show their appreciation.
When the business began to grow, Bob knew he needed an outside firm to help him with the finances, so he asked a friend for a referral. That friend happened to be a CTM client who was familiar with the firm’s franchise accounting expertise. After meeting with CTM Partner Scott Weingart, Bob hired CTM. Bob is very happy with the results, including Scott’s responsiveness whenever he has a question. And there are many questions as the Ryan’s franchising organization continues to grow. To date, they own two schools in Chicago, with a third one in the works. They also have ownership interests in New York and New Jersey locations, and are in the process of building another school in Redmond, Washington.
Bob and Kathy are raising their 12-year old son, Steven and 10-year-old daughter, Lily in the Lincoln Park neighborhood in Chicago, a community they have lived in for 15 years. The family loves Chicago and they take advantage of everything the city has offer, including Lake Michigan. Bob also has great empathy for Chicago’s most vulnerable children, and has become very involved in Children’s Place Association, a charitable organization providing health, education and financial assistance to underprivileged children and their families. Bob is currently serving as the vice chair of the board for Children’s Place Association, and he sits on the organization’s fiduciary committee.
