COOL BINZ Franchise
Audited FinancialsRisk Score
Pending analysis
Investment Range
$734,845 - $1,270,500
Franchise Fee
$39,900
Total US Locations
6
Business Summary
Cool Binz International, LLC operates a business that leases various portable storage solutions, including climate-controlled and non-climate-controlled storage containers, mobile offices, and mobile refrigeration units and freezers. These services are provided to residential customers, commercial businesses, and government entities. Cool Binz Businesses operate from a commercial or industrial park location with a minimum office space of 500 square feet and a half to one-acre lot.
Corporate History
Cool Binz International, LLC was established on September 29, 2022, as a Michigan Limited Liability Company and began offering franchises on March 31, 2023. The company's affiliate, COOL BINZ North America, LLC, acquired the assets of its predecessor, Cool-Binz, LLC, on October 10, 2022. Cool-Binz, LLC, a Florida company, had been operating a similar business since 2017. Cool Binz International, LLC is part of the larger BELFOR Franchise Group, LLC.
Financial Overview
Investment Range
$734,845 - $1,270,500
Franchise Fee (Low)
$39,900
Franchise Fee (High)
$69,900
Royalty %
9%
Marketing %
2%
Equipment Costs (Low)
$579,995
Equipment Costs (High)
$999,000
Working Capital
$30,000
Audited Financials
Yes
Offers Financing
Yes
Audit Opinion
Unqualified opinion
Financial Health Notes
Cool Binz International, LLC's financial health, as reflected in the audited financial statements of its affiliate BFG Holdco, Inc., raises concerns about its ability to provide services and support to franchisees. The company has experienced significant consolidated net losses for the past three years: $11.1 million in 2024, $44.3 million in 2023, and $6.3 million in 2022. Stockholders' equity has also steadily decreased during this period. In both 2023 and 2024, BFG Holdco, Inc. recognized substantial goodwill impairment losses, totaling $45.5 million in 2023 and $10.5 million in 2024, attributed to deteriorating economic conditions, the elimination of certain manufacturing, and strategic shifts to reduce its franchise network. Additionally, BFG Holdco, Inc. guarantees significant loans for related affiliates, which presents a potential future obligation.
Financing Details
Cool Binz International, LLC may offer financing to qualified franchisees for a portion of the Initial Franchise Fee, the Initial Equipment Package (excluding trucks), and the Initial Promotional Package. The franchisor can finance up to 50% of these fees at a 9% interest rate for a period of up to 36 months, requiring a minimum 50% down payment. Financing is not available for truck purchases. A personal guarantee from the franchisee, all owners, and their spouses is required as security. Franchisees can prepay the loan without penalty.
Performance Metrics
Total US Locations
6
Franchised Units
3
Corporate Units
3
Franchising Since
2023
Legal & Compliance Analysis
Recent Litigation
No
Bankruptcy
No
Litigation Summary
Cool Binz International, LLC has no litigation history to report. The FDD states that no litigation is required to be disclosed in Item 3.
Bankruptcy History
Cool Binz International, LLC has no bankruptcy history to report for the franchisor or its management. The FDD states that no bankruptcy is required to be disclosed in Item 4.
Agreement Terms
Initial Term
10 years
Renewal Term
10 years
Renewal Conditions
Cool Binz International, LLC franchisees wishing to renew their agreement must meet several conditions. They need to be in substantial compliance with their current Franchise Agreement, avoiding repeated defaults. Franchisees must provide timely notice of their intent to renew and then sign the then-current franchise agreement, which might have different terms. They are also required to upgrade and remodel their COOL BINZ Business to meet current standards, sign a general release (though this may change), and pay a renewal fee.
Training & Support Program
Franchisor Assistance
Cool Binz International, LLC provides extensive support to its franchisees, starting before the business opens. Pre-opening assistance includes designating the territory, providing the initial equipment and promotional packages, and lending the Operations Manual and System Standards. The franchisor also provides prior approval for business forms, stationery, business cards, and advertising materials, along with specifying minimum insurance limits and pricing guidelines. Initial training is provided to the Managing Owner or Designated Manager at no extra fee. After the business opens, Cool Binz International, LLC offers ongoing guidance on new products, services, and methods, as well as advice on purchasing supplies and implementing marketing and advertising programs. Franchisees receive support for their required software management system, a contact telephone number for communications, and periodic modifications to the Operations Manuals and System Standards. The franchisor also provides periodic refresher training courses and conferences, typically not exceeding once per year.
Initial Training Hours
23
Training Location
Naples, FL
Ongoing Support
Cool Binz International, LLC provides ongoing support to its franchisees through various channels after their business opens. This includes access to information derived from franchisee reports and inspections. The franchisor offers guidance on new products, services, and methods, as well as advice on purchasing and using supplies, and developing marketing and advertising programs. Franchisees also receive support for financial and daily operations, including accounting and record-keeping functions. Cool Binz International, LLC maintains a contact telephone number for franchisee communications, issues periodic modifications to the Operations Manuals and System Standards, and provides periodic refresher training courses and conferences, typically once a year. Franchisees are also required to attend the annual COOL BINZ convention.
Franchise Requirements
Industry Experience Required
No
Management Experience Required
No
Sales Experience Required
No
Technical Skills Required
No
Operational Details
Location Type
commercial
Owner Participation
full-time
Territory Type
protected
Territory Size Requirements
Cool Binz International, LLC territories are generally defined by ZIP codes and are designed to encompass approximately 350,000 to 450,000 people, with a maximum of 500,000 people.
Staffing Notes
Cool Binz International, LLC requires that before starting operations, and at all times thereafter, franchisees must employ at least one person who has successfully completed the initial training program. The franchisor also mandates that Managing Owners, Designated Managers, sales, and account management employees sign non-disclosure and confidentiality agreements. The specific number of total staff is not detailed, but the franchisor's System Standards emphasize having sufficient personnel for prompt and courteous service.