Are the fees paid to Cool Binz refundable?

According to Cool Binz's 2025 Franchise Disclosure Document, all fees are generally non-refundable. Specifically, Item 6 states that all fees, unless otherwise specified, are non-refundable and are deemed fully earned upon payment. This means that once a franchisee pays a fee to Cool Binz, they typically cannot get that money back, regardless of the circumstances.

This non-refundable policy applies to various fees outlined in the document, such as the Royalty fees, NORA fees, Convention Non-Attendance fees of $1,000, and other fees listed in the provided tables. The document specifies the amounts and due dates for numerous fees, including those related to indemnification, attorney's fees, NORA fees, approval of alternative suppliers, broker fees for resale (approximately 10% of the sale price, or $30,000, whichever is higher), renewal term fees (10% of the then-current Initial Franchise Fee), renovation fees, late report fees ($50 per day), late payment fees ($50, or 5% per week), administrative fees ($500 per transaction), collection fees (up to 35% of gross amounts collected), management fees (up to 10% of Gross Sales), NSF fees ($50 per NSF), Convention Non-Attendance fees ($1,000), Non-Compliance fees (up to $10,000 for Out-of Territory Conduct, or $5,000 per instance for other non-compliant acts), and Audit/Survey fees.

For a prospective Cool Binz franchisee, this non-refundable fee policy underscores the importance of carefully evaluating all aspects of the franchise agreement and fully understanding the financial obligations before making any payments. It also highlights the need to be diligent in meeting all obligations to avoid incurring additional fees, as these will likely not be refundable. Franchisees should factor in these non-refundable fees when projecting their potential earnings and managing their cash flow.