If a broker is involved in the Cool Binz transfer, who is responsible for the commissions or broker fees?

According to Cool Binz's 2025 Franchise Disclosure Document, if a broker, lead referral network, or similar entity is involved in the transfer of a Cool Binz business, the seller is responsible for paying the commissions, broker fees, or other similar expenses. This applies in two scenarios: first, if the seller lists their Cool Binz business with a broker or similar entity; and second, if the buyer is referred to either the seller or Cool Binz by a broker or similar entity.

This means that as a prospective seller, you should factor in these potential broker fees when determining the financial viability of transferring your Cool Binz franchise. It is important to clarify the terms of any agreement with a broker or lead referral network to understand the full scope of these expenses.

Furthermore, if you are purchasing a Cool Binz business from a previous franchisee, you may be responsible for any applicable broker fees incurred by your predecessor if they are not paid in a timely manner or negotiated in your purchase agreement. This highlights the importance of conducting thorough due diligence and clearly defining financial responsibilities in the purchase agreement when acquiring an existing Cool Binz franchise.