What was the net value of Cool Binz's inventory as of December 31, 2023?
Cool_Binz Franchise · 2025 FDDAnswer from 2025 FDD Document
Sell to us or our designee, at Franchisor's option, all COOL BINZ containers, trucks, other equipment, and all inventory in useable form bearing the Proprietary Marks at the lesser of the original purchase price thereof or at its then-current value, which value shall be decided in our reasonable judgment, within 15 days following the date of termination or expiration;
Source: Item 23 — RECEIPTS (FDD pages 63–238)
What This Means (2025 FDD)
Based on the 2025 Cool Binz Franchise Disclosure Document, there is no specific mention of the net value of the company's inventory as of December 31, 2023. However, the FDD does outline Cool Binz's policies regarding inventory in the event of termination or expiration of the franchise agreement.
Specifically, if a franchise agreement is terminated, Cool Binz has the option to purchase all COOL BINZ containers, trucks, other equipment, and all inventory in useable form bearing the Proprietary Marks. The purchase price would be the lesser of the original purchase price or the then-current value, as determined by Cool Binz. This valuation process is only triggered upon termination or expiration of the franchise agreement.
To obtain the specific net value of Cool Binz's inventory as of December 31, 2023, a prospective franchisee should directly ask Cool Binz for their audited financial statements or request this information during the due diligence process. This information would likely be contained within the company's internal financial records, which are not detailed in this excerpt.