What happens to the Cool Binz Convention Allowance if I do not attend the Convention?
Cool_Binz Franchise · 2025 FDDAnswer from 2025 FDD Document
Fee*
You must also obtain an initial promotional package ("Initial Promotional Package") that will cost $7,500 (the "Initial Promotional Package Fee"). This fee is fully earned upon payment and non-refundable under any circumstances. The Initial Promotional Package includes supplies needed to begin operation which will include logo wear, stationery, the Kickstart digital marketing program, consumables, promotional items and a $799 convention allowance ("the Convention Allowance") for the COOL BINZ convention (the "Convention"). The Convention Allowance covers the registration fee for one person to attend the first COOL BINZ Convention that is scheduled following your successful completion of our Business Manager and Technical Operations Training Program. The Convention Allowance cannot be used to offset any other expenses or requirements associated with your Business and is not refundable. If you do not attend the Convention, the Convention Allowance will be applied to the Convention Non Attendance
Source: Item 5 — INITIAL FEES (FDD pages 17–19)
What This Means (2025 FDD)
According to the 2025 Cool Binz Franchise Disclosure Document, if a franchisee does not attend the Cool Binz Convention, the $799 Convention Allowance will be applied to the Convention Non Attendance Fee. The Convention Allowance is included as part of the $7,500 Initial Promotional Package Fee, which also covers logo wear, stationery, the Kickstart digital marketing program, consumables, and promotional items.
This means that while the Convention Allowance is intended to cover the registration fee for one person to attend the first Cool Binz Convention after completing the Business Manager and Technical Operations Training Program, it is not refundable in cash if the franchisee chooses not to attend. Instead, Cool Binz will use the allowance to offset a fee charged for non-attendance.
Prospective franchisees should inquire with Cool Binz about the amount of the Convention Non Attendance Fee to fully understand the financial implications of not attending the Convention. Franchisees should also consider the value of attending the convention for networking and training opportunities, as forgoing attendance would mean losing those benefits in addition to not receiving a cash refund of the allowance.