It looks almost exactly the same as Mrs. Puff's boating school, except that the sign in the front entrance has the words "Mrs. Puff's" crossed out and is replaced with "Bubble" in black ink. There are also two anchors next to the tall parts of the sign.
The school is owned and founded by SpongeBob after he creates his Bubble Boat and everyone in Bikini Bottom is using them. Mrs. Puff, who is driving her normal boat, gets her boat towed away by the police in which she has to go to this school.
She then goes to the school, where SpongeBob teaches her how to drive a bubble boat by going through multiple dangerous tasks on the real road.
At the end of the episode, once the bubble boats have become illegal, the school is shut down and Mrs. Puff's Boating School took its place once again.