In this exclusive Franchise Chatter FDD Talk post, you’ll learn the following:
Section I – Estimated initial investment (franchise costs) for a Cool-Binz franchise, based on Item 7 of the company’s 2023 FDD
Section II – Initial franchise fee, royalty fee, and marketing fee for a Cool-Binz franchise, based on Items 5 and 6 of the company’s 2023 FDD
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Colin started as a team member at 21 and now owns 6 locations in Tampa Bay. Lisa came from marketing and built 21 in San Diego. The most successful multi-unit owners move early and secure markets with room to grow. Use our free tool to search multiple ZIP codes and find franchises where you can still stack locations, before someone else does. A franchise specialist will be in touch to present what's available.Section III – Number of franchised and company-owned Cool-Binz outlets at the start of the year and the end of the year for 2020, 2021, and 2022, based on Item 20 of the company’s 2023 FDD
Section IV – News updates on the Cool-Binz franchise opportunity
Section V – Presentation and analysis of Cool-Binz’s financial performance representations (average revenues and/or profits), based on Item 19 of the company’s 2023 FDD, including information on the:
- 2022 gross income, expenses, and net income for Cool-Binz’s affiliate-owned location, which has been in operation for over 3 years
- 2022 average months rented and rental rate for Cool-Binz’s affiliate-owned location
- list of rates charged by Cool-Binz’s affiliate-owned location in 2022 for bin rental
Section VI – Key ratios, comparables, computations, and analyses for the Cool-Binz franchise opportunity (exclusive content for Platinum subscribers)
Section I – Cool-Binz Franchise Costs
- Cool-Binz franchise costs, based on Item 7 of the company’s 2023 FDD:
- Initial Franchise Fee: $59,500 to $69,900
- Truck, Equipment, and Initial Containers: $555,706 to $879,000
- Container Assembly and Set-Up: $4,000
- Transportation: $35,000 to $100,000
- Computer Equipment and Software: $3,000 to $5,000
- Rent: $0 to $22,500
- Leasehold Improvements: $0 to $20,000
- Insurance Deposits and Premiums: $10,200 to $17,850
- Pre-Opening Travel Expense to Training: $1,000 to $3,000
- Professional Fees: $2,250 to $5,750
- Business Permits and Licenses: $250 to $1,000
- Office and Small Equipment Supplies: $750 to $1,500
- Initial Promotional Package: $7,500
- Grand Opening: $5,000 to $7,500
- Additional Funds – 3 Months: $25,000 to $35,000
- Total Estimated Cool-Binz Franchise Costs: $709,156 to $1,179,500
Section II – Cool-Binz’s Initial Franchise Fee, Royalty Fee, and Marketing Fee
- Cool-Binz’s initial franchise fee, royalty fee, and marketing fee, based on Items 5 and 6 of the company’s 2023 FDD:
- Initial Franchise Fee: $59,500 to $69,900
- Royalty: the following percentages of Gross Sales, but no less than $1,000 per month, 9% of Gross Sales. If Gross Sales exceed $500,000, then the Royalty rate is 8% of Gross Sales.
- National Marketing Fee: 2% of Gross Sales
Section III – Number of Franchised and Company-Owned Cool-Binz Outlets
Franchised
2020
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When I owned a UPS Store, I learned firsthand how much your ZIP code shapes your outcome. I sold my store at a premium because my territory was in a high-value area. The best areas go first, and once they're gone, they're gone. Enter your ZIP code, and a territory specialist will walk you through the franchises still available near you, drawing on information that isn't publicly accessible, saving you months of wasted research.🔴Free Webinar: 6 Under-the-Radar Franchise Concepts That Serious Buyers Should Know
Every month we feature 6 standout franchises that could be the opportunity you've been looking for, each evaluated on disclosed financials and matched to the type of buyer most likely to succeed with it. Can't attend live on October 27 at 6PM EST? Register now and we'll send you the full recording the next day. Reserve your spot here.- Outlets at the Start of the Year: 0
- Outlets at the End of the Year: 0
- Net Change: 0
2021
- Outlets at the Start of the Year: 0
- Outlets at the End of the Year: 0
- Net Change: 0
2022
- Outlets at the Start of the Year: 0
- Outlets at the End of the Year: 0
- Net Change: 0
Company-Owned
2020
- Outlets at the Start of the Year: 1
- Outlets at the End of the Year: 1
- Net Change: 0
2021
- Outlets at the Start of the Year: 1
- Outlets at the End of the Year: 1
- Net Change: 0
2022
🎯Find Best-Fit Franchises Still Available in Your Target Area (Free Tool)
When I owned a UPS Store, I learned firsthand how much your ZIP code shapes your outcome. I sold my store at a premium because my territory was in a high-value area. The best areas go first, and once they're gone, they're gone. Enter your ZIP code, and a territory specialist will walk you through the franchises still available near you, drawing on information that isn't publicly accessible, saving you months of wasted research.📈Dreaming of Multi‑Unit Success? Lock In Prime Territories Before They're Gone.
Colin started as a team member at 21 and now owns 6 locations in Tampa Bay. Lisa came from marketing and built 21 in San Diego. The most successful multi-unit owners move early and secure markets with room to grow. Use our free tool to search multiple ZIP codes and find franchises where you can still stack locations, before someone else does. A franchise specialist will be in touch to present what's available.- Outlets at the Start of the Year: 1
- Outlets at the End of the Year: 1
- Net Change: 0
Section IV – News Updates on the Cool-Binz Franchise
Section V – Financial Performance Representations (Average Revenues and/or Profits) for the Cool-Binz Franchise (Item 19, 2023 FDD)
- The below chart contains historical financial information for the year ending December 31, 2022, achieved by Cool-Binz’s affiliate-owned location, which has been in operation for more than 12 months.
Part 1 – Gross Income, Expenses, and Net Income for Cool-Binz’s Affiliate-Owned Location
- Part 1 contains the various sources of income, the amount achieved, and the percentage of total income attributable to each category. The chart also presents the location’s expenses, broken down into categories.
Income
- Rental Income: $232,746 (87.00%)
- Delivery Fee Income: $19,409 (7.25%)
- Insurance Premium Income: $10,488 (3.90%)
- Additional Services: $4,990 (1.90%)
- Gross Income: $267,633 (100.00%)
Expenses
- Advertising & Marketing: $13,364 (5.00%)
- Auto Expense: $9,617 (3.60%)
- General Administration: $25,396 (9.50%)
- Occupancy Cost: $4,402 (1.60%)
- Driver Expense: $15,640 (5.80%)
- Insurance Costs: $10,919 (4.10%)
- Royalties & Brand Marketing: $29,440 (11.00%)
- Miscellaneous Expenses: $113 (0.04%)
- Total Expenses: $108,891 (40.64%)
Net Income: $158,742 (59.36%)
- Cool-Binz’s affiliate-owned location does not pay royalties or National Marketing Fees; however, Cool-Binz calculated what it would have paid in the above chart.
- Cool-Binz’s affiliate-owned location owns the land where it has its Office Site. If you will be leasing a space for your Office Site, Item 7 includes estimates that can assist you.
- Payroll/Driver expenses vary widely depending on the market region, the size of your Territory, the benefits you offer, etc.
- This location has been open and operating for over 3 years and thus this information does not include any information regarding initial fees and expenses that you will incur in the early years of the business.
Part 2 – Rental Frequency and Rental Rates Charged by Cool-Binz’s Affiliate-Owned Location
- Part 2 contains information about the rental frequency and the rental rates charged by Cool-Binz’s affiliate-owned location in the 2022 fiscal year.
- Average Months Rented: 9.9 months/86.5% of the year
- Average Rental Rate: $471.21
- The “Average Months Rented” was calculated from the months each Bin was rented by customers in 2022, divided by 12. The percentage was calculated from a sum of all Bins’ total rental time in 2022, divided by the available number of months.
- The “Average Rental Rate” was calculated from each Bin’s average rental rate in 2022. The highest average rental rate was $1,899 and the lowest average rental rate was $200. The median is $399. Each “rental” is typically for a month time period, but may vary.
Part 3 – Standard Rate for Bins
- Part 3 contains a list of rates charged by Cool-Binz’s affiliate-owned location in 2022 for bin rental. You will be permitted to establish your own pricing, but may use these rates as a guideline.
- 8×16 Climate Controlled Bin: $399
- 8×20 Climate Controlled Bin: $449
- 8×16 Non Climate Controlled Bin: $299
- 8×20 Non Climate Controlled Bin: $349
- Mobile Office: $499
- Refrigerated Bin: $1,899
- Freezer Bin: $2,299
- Park & Plug Service: $79.99
- Some outlets have earned this much. Your individual results may differ. There is no assurance that you’ll earn as much.
Section VI – Cool-Binz Franchise Ratios, Comparables, Computations, and Analyses (Exclusive Content for Platinum Subscribers) ⬇️
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