Does Cool Binz acknowledge that any representations, promises, inducements, guarantees or warranties led the franchisee to enter into the agreement?
Cool_Binz Franchise · 2025 FDDAnswer from 2025 FDD Document
NO SALESPERSON, REPRESENTATIVE OR OTHER PERSON HAS THE AUTHORITY TO BIND OR OBLIGATE US EXCEPT OUR AUTHORIZED OFFICER BY A WRITTEN DOCUMENT. YOU ACKNOWLEDGE THAT NO REPRESENTATIONS, PROMISES, INDUCEMENTS, GUARANTEES OR WARRANTIES OF ANY KIND WERE MADE BY US OR ON OUR BEHALF THAT HAVE LED YOU TO ENTER INTO THIS AGREEMENT. YOU UNDERSTAND THAT WHETHER YOU SUCCEED AS A FRANCHISEE IS DEPENDENT UPON YOUR EFFORTS, BUSINESS JUDGMENTS, THE PERFORMANCE OF YOUR EMPLOYEES, MARKET CONDITIONS AND VARIABLE FACTORS BEYOND OUR CONTROL OR INFLUENCE. YOU FURTHER UNDERSTAND THAT SOME FRANCHISEES ARE MORE OR LESS SUCCESSFUL THAN OTHER FRANCHISEES AND THAT WE HAVE MADE NO REPRESENTATION THAT YOU WILL DO AS WELL AS ANY OTHER FRANCHISEE.
Source: Item 23 — RECEIPTS (FDD pages 63–238)
What This Means (2025 FDD)
According to the 2025 Cool Binz Franchise Disclosure Document, Cool Binz includes an acknowledgement that no representations, promises, inducements, guarantees, or warranties of any kind were made by them or on their behalf that led the franchisee to enter into the agreement. The FDD states that the franchisee understands their success is dependent upon their efforts, business judgements, the performance of their employees, market conditions, and variable factors beyond Cool Binz's control or influence. Cool Binz also states that the franchisee understands that some franchisees are more or less successful than other franchisees and that Cool Binz has made no representation that the franchisee will do as well as any other franchisee.
This acknowledgement serves to protect Cool Binz from potential legal claims based on statements or promises made outside of the franchise agreement and the Franchise Disclosure Document. It reinforces that franchisees are responsible for their own due diligence and business decisions. The franchisee bears the risk of market conditions and their own business acumen.
Prospective franchisees should carefully consider this acknowledgement and understand that Cool Binz is not guaranteeing any specific level of success or profitability. It is crucial for franchisees to conduct thorough research, develop a solid business plan, and be prepared to adapt to changing market conditions. They should also be aware that their success will depend on their own efforts and the performance of their employees.
Furthermore, the document states that no salesperson, representative or other person has the authority to bind or obligate Cool Binz except their authorized officer by a written document. This reinforces the importance of relying only on written information from authorized sources and not on verbal promises or representations made by unauthorized individuals.