Is the financial information provided for Cool Binz in Item 19 audited?
Cool_Binz Franchise · 2025 FDDAnswer from 2025 FDD Document
r under particular circumstances.
The below chart contains historical rental information from January 1, 2024 to December 31, 2024 (the "Measurement Period"), achieved by our affiliated-owned location, which has been in operation for more than 12 months, and was the only unit open during the entirety of the Measurement Period. We have also included a list of rates charged by our affiliate-owned location during the Measurement Period for bin rental. The Standard Rates below are charged per month. You will be permitted to establish your own pricing, but may use these rates as a guideline. This information is unaudited.
| Average Months Rented | 7.8 months/ 68% of the year |
|---|---|
| Average Rental Rate | $502.80 |
| Average Months Rented | 7.8 months/ 68% of the year |
|---|---|
| Average Rental Rate | $502.80 |
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- The "Average Months Rented" was calculated from the months each Bin was rented by customers in 2024, divided by 12 for all bins owned for the full 12 months.
Source: Item 19 — FINANCIAL PERFORMANCE REPRESENTATIONS (FDD pages 58–60)
What This Means (2025 FDD)
According to Cool Binz's 2025 Franchise Disclosure Document, the financial performance representations provided in Item 19 are based on historical rental information from January 1, 2024, to December 31, 2024. This data was achieved by Cool Binz's affiliated-owned location, which had been in operation for over 12 months and was the only unit open during that entire period. The FDD explicitly states that this financial information is unaudited. Therefore, prospective franchisees should be aware that the figures presented have not been verified by an independent accounting firm.
Specifically, the Item 19 data includes the average months rented, which was 7.8 months or 68% of the year, and the average rental rate, which was $502.80. These figures are derived from the performance of a single affiliated-owned location. Cool Binz emphasizes that individual results may vary and there is no assurance that franchisees will earn as much as the figures presented.
Given that the financial information is unaudited, prospective franchisees should exercise caution and conduct their own due diligence. This may include consulting with a financial advisor, reviewing the underlying data if made available by Cool Binz, and conducting independent market research to assess the potential financial performance of a Cool Binz franchise in their specific location. It is also important to remember that the FDD states that written substantiation for the financial performance representation will be made available to prospective franchisees upon reasonable request.