When is the Renewal Term 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) |
|---|---|---|---|
| Renewal Term Fee | Our then-current fee, which is presently, 10% of the then-current Initial Franchise Fee | At the time you sign a Franchise Agreement for a renewal term | You will sign our then current Franchise Agreement for the renewal term, which may include materially different terms, including the Royalty rate and/or Territory. We may increase this fee by up to 10% each year of the Term. |
Source: Item 6 — OTHER FEES (FDD pages 19–27)
What This Means (2025 FDD)
According to Cool Binz's 2025 Franchise Disclosure Document, the Renewal Term Fee is due at the time you sign a Franchise Agreement for a renewal term. The fee is the then-current fee, which is presently 10% of the then-current Initial Franchise Fee.
Cool Binz may increase this fee by up to 10% each year of the Term. The Franchise Agreement that you sign for the renewal term may include materially different terms, including the Royalty rate and/or Territory.
As is typical in franchising, the renewal fee compensates Cool Binz for the continued use of its trademarks, systems, and support during the renewed term. Franchisees should carefully consider the potential for increased fees and revised terms in the renewal agreement, as these could significantly impact the profitability and operational aspects of their Cool Binz business.