What initial franchise fee is required for a Cool Binz renewal term?
Cool_Binz Franchise · 2025 FDDAnswer from 2025 FDD Document
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.
Source: Item 23 — RECEIPTS (FDD pages 63–238)
What This Means (2025 FDD)
According to Cool Binz's 2025 Franchise Disclosure Document, the initial franchise fee is waived if the agreement is for a renewal term. However, the franchisee must pay a renewal fee as outlined in Section 11.D of the agreement. This renewal fee is non-refundable and is considered fully earned upon payment.
Cool Binz may also 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 is entering a renewal term, they must meet the Minimum Gross Sales requirement for the greater than 48-month level for the first year of the renewal term. In subsequent years, a franchisee must achieve a minimum Gross Sales growth of at least three percent per year.