When is the NORA fee due for a Cool Binz franchise?
Cool_Binz Franchise · 2025 FDDAnswer from 2025 FDD Document
| Name of Fee (Note 1) | Amount | Due Date | Remarks (Note 1) |
|---|---|---|---|
| NORA Fee | None currently assessed; if we manage accounts through a national or regional accounts program you will pay up to 5% of Gross Sales | As incurred | See Note 8, and Section 1F of Franchise Agreement |
Source: Item 6 — OTHER FEES (FDD pages 19–27)
What This Means (2025 FDD)
According to Cool Binz's 2025 Franchise Disclosure Document, the NORA (National or Regional Accounts) fee is due as incurred. Currently, Cool Binz is not assessing this fee. However, if Cool Binz manages accounts through a national or regional program, franchisees will be required to pay up to 5% of gross sales.
This means that as a Cool Binz franchisee, you may not have to pay this fee at all, or you may be required to pay it if Cool Binz enrolls you in a national or regional accounts program. The fee would be a percentage of your gross sales, impacting your revenue.
Prospective franchisees should inquire with Cool Binz about the likelihood of this fee being implemented in the future and under what specific circumstances it would apply. Understanding the criteria for national or regional account management is crucial for forecasting potential costs and profitability.