Under what circumstances is the Container Assembly and Set-Up Fee refundable for a Cool Binz franchise?
Cool_Binz Franchise · 2025 FDDAnswer from 2025 FDD Document
Fee*
Prior to opening your COOL BINZ Business, you must also pay a fee of $5,000 for two days of initial assembly and set-up of the Equipment needed for the operation of the COOL BINZ Business (the "Container Assembly and Set-Up Fee"). The Container Assembly and Set-Up Fee is deemed fully earned upon payment and non-refundable under any circumsta
Source: Item 5 — INITIAL FEES (FDD pages 17–19)
What This Means (2025 FDD)
According to the 2025 Cool Binz Franchise Disclosure Document, the Container Assembly and Set-Up Fee is non-refundable under any circumstances. This fee, which amounts to $5,000, covers the cost of two days of initial assembly and set-up of the equipment required to operate the Cool Binz business.
This non-refundable policy means that once a Cool Binz franchisee pays the Container Assembly and Set-Up Fee, they will not receive a refund, regardless of whether they proceed with opening their franchise or not. This is a standard practice in franchising, as these fees are typically used to cover the franchisor's expenses in providing initial support and resources to new franchisees.
Prospective Cool Binz franchisees should carefully consider this non-refundable aspect of the Container Assembly and Set-Up Fee when evaluating the franchise opportunity. It is important to ensure that they are fully committed to the franchise before paying this fee, as they will not be able to recover it if they later decide not to proceed.