Is a Cool Binz franchisee required to pay a renewal fee, and is it the then-current fee?
Cool_Binz Franchise · 2025 FDDAnswer from 2025 FDD Document
erritory, either at the commencement of or during the course of the Term of this Agreement.
If this is a renewal term ("Renewal Term"), the Initial Franchise Fee is waived. However, you must pay the renewal fee, as set forth in Section 11.D of this Agreement. The renewal fee is non-refundable and deemed fully earned upon payment. As a condition to entering into a Renewal Term, we may require you to purchase new or additional equipment, remodel or refurbish your vehicle or retail space, or other perform other renovations, at your sole expense.
If this is a transfer term ("Transfer Term"), the Initial Franchise Fee is waived. However, you or the selling owner, will need to pay the then-current Transfer Fee. The Transfer Fee is not refundable and is and deemed fully earned upon payment. The transferee may be required to purchase some or all of the Initial Package, in our discretion, and remodel or refurbish your vehicle or retail space, or other perform other renovations, at its sole expense.
**B.
Source: Item 23 — RECEIPTS (FDD pages 63–238)
What This Means (2025 FDD)
According to Cool Binz's 2025 Franchise Disclosure Document, if a franchisee is entering a renewal term, the initial franchise fee is waived. However, the franchisee must pay a renewal fee as outlined in Section 11.D of the Franchise Agreement. This renewal fee is non-refundable and is considered fully earned upon payment.
In addition to the renewal fee, Cool Binz may require franchisees to purchase new or additional equipment, remodel or refurbish their vehicle or retail space, or perform other renovations at their own expense as a condition of entering into a Renewal Term.
Furthermore, if a franchisee satisfies all other conditions for a Renewal Term, they must sign the then-current franchise agreement and any related agreements for Cool Binz businesses. This may include different royalty and/or territory terms. Both the franchisee and Cool Binz must also sign a mutual general release of claims against each other.