How was the 'Average Months Rented' for Cool Binz calculated in 2024?

According to Cool Binz's 2025 Franchise Disclosure Document, the 'Average Months Rented' is a key metric in their financial performance representation. For 2024, this figure was calculated by summing the number of months each bin was rented by customers and then dividing that total by 12, but only for bins that were owned for the entire 12-month period. This calculation provides a standardized average rental duration for bins in operation throughout the year. The FDD states that the average months rented was 7.8 months, which equates to 68% of the year.

This metric is important for prospective Cool Binz franchisees because it provides insight into how frequently bins are rented out on average. A higher average rental duration suggests greater demand and potentially higher revenue per bin. However, it's important to note that this data is based on the performance of Cool Binz's affiliated-owned location, and individual results may vary. Factors such as location, marketing efforts, and local market conditions can all influence rental rates and durations.

Cool Binz allows franchisees to set their own pricing, but the franchisor does provide the rates charged by their affiliate-owned location as a guideline. The average rental rate was calculated to be $502.80. Prospective franchisees should carefully consider these figures in conjunction with their own market research to develop a sound business plan and financial projections. It is also important to remember that the financial performance representation is based on historical data and does not guarantee future performance.