What is the definition of a 'Cool Binz Business' according to the FDD?
Cool_Binz Franchise · 2025 FDDAnswer from 2025 FDD Document
Following your evaluation of the System, you have expressed to us your desire to obtain the right to develop, own, and be franchised to operate a COOL BINZ Business.
This Agreement governs the ongoing relationship between you and us.
B. DEFINITIONS AND ACRONYMS.
The following terms which are used in this Section and throughout this Agreement are defined as follows:
Affiliate: any person or entity directly or indirectly owned or controlled by, under common control with, or owning or controlling you or us. For purposes of this definition, "control" means the power to direct or cause the direction of management and policies.
COOL BINZ Affiliates: A collective reference for COOL BINZ franchisee(s), Company Store(s), us and/or COOL BINZ North America, LLC ("CBNA").
COOL BINZ Corporate Territory: The zip-codes that are owned by us, and have not been awarded to a COOL BINZ franchisee or a Company Store.
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Chain Customer: A non-residential customer, a group of customers, a partner or group of partners that operate under a common ownership or control, under the same trademarks or service marks through independent franchises, or some other association located at multiple addresses.
Company Stores: A COOL BINZ office that is owned by CBNA.
Customer: Any person or company who purchases goods or services from you. It includes those who make the purchase on their own behalf as well as those who purchase on the behalf of a third party.
Portable Equipment: storage containers, devices and equipment designated or approved by us.
Territory: The specific area where the COOL BINZ Business is to be operated, which consists of a set of zip codes.
Source: Item 23 — RECEIPTS (FDD pages 63–238)
What This Means (2025 FDD)
According to Cool Binz's 2025 Franchise Disclosure Document, a Cool Binz Business is a franchised business that a franchisee obtains the right to develop, own, and operate after evaluating the Cool Binz system. The franchisee's operation and maintenance of their Cool Binz Business must adhere to the System Standards to preserve the goodwill associated with the Cool Binz marks and other franchisees. The Managing Owner or Designated General Manager must devote their full-time efforts to maintain the business according to these standards. These System Standards can be modified and supplemented during the term of the Franchise Agreement, and franchisees must comply with changes immediately upon notification.
As part of maintaining System Standards, Cool Binz franchisees must offer and provide all services that Cool Binz periodically requires, in the manner prescribed by Cool Binz. System Standards are specified and amended in the Operations Manual or in writing, and may include standards for the use and display of marks, authorized services and products, use of supplies and equipment, a dress code, approved suppliers and vendors, vehicle standards, business forms, designated suppliers, insurance coverage, and compliance with applicable laws. Franchisees must also adhere to good business practices, high standards of conduct, and ethical dealings with customers and suppliers.
Furthermore, franchisees must promote and increase demand for the Cool Binz Business through factual and ethical advertising. They are responsible for selecting, retaining, and paying their employees, paying invoices for goods and services, and obtaining necessary financing. Franchisees must also meet and maintain the highest safety standards and ratings applicable to the operation of the Cool Binz Business, providing copies of inspection reports and any violations to Cool Binz. Franchisees are prohibited from engaging in any business that offers similar services or using Cool Binz's confidential information or system for any business other than the franchised Cool Binz Business, unless authorized by Cool Binz.