What is the minimum lot size required for a Cool Binz business site?
Cool_Binz Franchise · 2025 FDDAnswer from 2025 FDD Document
Your business site must be located within the Territory and must contain at least 500 square feet and a minimum lot size of 0.5 to 1.0 acre, and must adhere to our standards and specifications, which includes demographics, size, local traffic, whether there are complementary businesses or competitors in the area, and similar characteristics. Your COOL BINZ Business site must be approved by us, in our sole discretion, which we will not unreasonably withhold provided that the site meets our minimum specifications. (Section 1.D of the Franchise Agreement). We will use commercially reasonable efforts to approve a suggested site in 30 days. Failure to find a site and commence operation of the COOL BINZ Business within eight (8) months of signing the Franchise Agreement may result in termination of the Franchise Agreement (Section 12.B of the Franchise Agreement). We do not generally (a) own the premises from which franchisees operate the COOL BINZ Business or (b) lease any premises to franchisees to operate the COOL BINZ Business.
Source: Item 11 — FRANCHISOR'S ASSISTANCE, ADVERTISING, COMPUTER SYSTEMS AND TRAINING (FDD pages 36–45)
What This Means (2025 FDD)
According to Cool Binz's 2025 Franchise Disclosure Document, a prospective franchisee's business site must contain at least 500 square feet and have a minimum lot size of 0.5 to 1.0 acre. The site must also adhere to Cool Binz's standards and specifications, which include demographics, size, local traffic, and the presence of complementary businesses or competitors in the area. Cool Binz must approve the business site, and they will not unreasonably withhold approval if the site meets their minimum specifications.
Cool Binz does not provide assistance with selecting a business site or negotiating any lease or purchase of any site. The franchisee is responsible for conforming the site to local ordinances and codes and obtaining any required permits. Failure to find a site and commence operation of the Cool Binz Business within eight months of signing the Franchise Agreement may result in termination of the Franchise Agreement.
This requirement means that franchisees need to ensure they have access to a sufficiently large and appropriately located site to operate the Cool Binz business. The approval process adds a layer of complexity, as the franchisee must find a site that not only meets their needs but also aligns with Cool Binz's criteria. The potential for termination of the agreement if a site is not secured within eight months underscores the importance of starting the site selection process promptly.