Disk is formatted only once. It takes about 1/2 hour. Than you can use it to add to it by dragging. If you want to use the same disk on other machine and add files there, you will need same software installed on that machine. At this point the disk is not closed. If you will give that disk to somebody else, without software on there machine, you will have to close the disk, no more dragging after that. In that instance the software will add small utility to a disk which will allow it to be red on any computer???? This is according to instructions, but it seldom works. In that case IsoBuster software will be able to open it.
In your case I think it will be faster to have a folder on your drive and store there everything you need, than at the end burn it to CD for distribution.