Who must approve the material terms of the transfer of a Cool Binz franchise?

According to Cool Binz's 2025 Franchise Disclosure Document, Cool Binz must approve the material terms and conditions of the transfer of a franchise. Specifically, Cool Binz must approve the material terms and conditions of the transfer, the form of purchase and sale agreement, and determine that the price and terms of payment will not adversely affect the transferee's operation of the Cool Binz business.

This provision gives Cool Binz significant control over who can become a franchisee and the terms under which a franchise can be sold. Cool Binz aims to ensure that any transfer does not negatively impact the brand or the new franchisee's ability to succeed.

For a prospective franchisee, this means that even if they find a buyer for their Cool Binz franchise, the sale is not guaranteed. Cool Binz has the right to reject the transfer if they do not approve of the buyer or the terms of the sale. Therefore, franchisees need to work closely with Cool Binz during the transfer process to ensure a smooth transaction.