What are the consequences for a Cool Binz franchisee who fails to attend the annual convention without permission?
Cool_Binz Franchise · 2025 FDDAnswer from 2025 FDD Document
and you will be responsible for the payment of all travel and living expenses incurred by your designees while training.
The Managing Owner or, if applicable, the Designated General Manager, must attend the COOL BINZ convention every year it is offered.
Source: Item 23 — RECEIPTS (FDD pages 63–238)
What This Means (2025 FDD)
According to Cool Binz's 2025 Franchise Disclosure Document, the Managing Owner or Designated General Manager must attend the Cool Binz convention every year it is offered. If a franchisee fails to attend the convention without prior written permission from Cool Binz, they must pay a Convention Non-Attendance Fee of $1,000.
Additionally, Item 23 outlines various defaults that could lead to the termination of the franchise agreement. One of these defaults includes failing to attend a Cool Binz Convention without prior written permission.
These stipulations highlight the importance Cool Binz places on franchisee participation in conventions. The $1,000 fee serves as a financial disincentive for unapproved absences, while the potential for termination underscores the seriousness of adhering to Cool Binz's requirements for convention attendance.