Under what condition is the NORA fee assessed to a Cool Binz franchisee?
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 not currently assessed. However, if Cool Binz manages accounts through a national or regional accounts program, franchisees will be required to pay this fee. The NORA fee can be up to 5% of Gross Sales. The exact details regarding the NORA fee can be found in Note 8 and Section 1F of the Franchise Agreement.
This means that as a Cool Binz franchisee, you may not be charged this fee initially. However, this could change if Cool Binz implements a national or regional accounts program. If such a program is put in place and Cool Binz manages accounts through it, you will be responsible for paying up to 5% of your Gross Sales as the NORA fee.
It is important for prospective franchisees to carefully review Note 8 and Section 1F of the Franchise Agreement to fully understand the terms and conditions related to the NORA fee. This includes understanding how the national or regional accounts program will be managed, how the fee will be calculated, and when it will be assessed. Franchisees should also inquire about the likelihood of such a program being implemented in the future to better anticipate potential costs.