Must the transfer of a Cool Binz franchise comply with state and federal laws?

According to the 2025 Cool Binz Franchise Disclosure Document, any transfer of a Cool Binz franchise must comply with all applicable laws, including state and federal laws that govern the offer and sale of franchises. This means that both the franchisee selling their business and the prospective buyer must ensure they meet all legal requirements for transferring ownership.

Cool Binz also requires compliance with specific conditions to approve a transfer. The franchisor must approve the material terms of the transfer, including the purchase and sale agreement, to ensure the price and payment terms do not negatively impact the business's operation under the new owner. Additionally, if leases or other agreements are in place, the involved parties must consent to the transfer as required by those agreements.

Furthermore, Cool Binz may require the transferee to purchase all or a portion of the Initial Package, the Initial Promotional Package, new or refurbished equipment, inventory, new vehicles/vehicle wraps, and complete remodeling, refurbishing, renovation or upgrades required by Franchisor, etc. to ensure the COOL BINZ Business is in compliance with our current System Standards and in wellmaintained condition. This ensures that the Cool Binz business maintains its standards and is in good condition under the new franchisee.