COLLEGE HUNKS HAULING JUNK Franchise Cost and Profit Margin – Review
College Hunks Hauling Junk is considered to be one of the fastest growing junk moving and hauling franchise in the United States of America.
The company has been named as one of the companies with fast growth in the country by Inc and has also been listed on Entrepreneur Magazine’s list of the top franchise opportunities to buy from for about 5 years in a row.
So, how much is a College Hunks Hauling Junk franchise?
FRANCHISE INFORMATION ABOUT THE COMPANY
The company was established in the year 2003 when some college students borrowed a cargo van and started the services of sorting, recycling, moving and disposing of used and unwanted items. The following year, one of the founders, Omar Soliman forwarded his business plan for College Hunks to the University of Miami’s Entrepreneurship competition and he took the first position.
Once he graduated, he then continued to improve and grow the junk business alongside his co-founder Nick Friedman and in the year 2007, they started selling franchise opportunities.
IS COLLEGE HUNKS HAULING JUNK A FRANCHISE?
College Hunks Hauling Junk is a franchise and they started selling franchise opportunities in the year 2007. The company has a workable franchise model with presence in almost every major college across the United States.
THE FRANCHISE OFFER
Franchisees are offered the right to operate their businesses under the College Hunks Hauling Junk brand. The services rendered will be junk removal, moving services, which will include picking up of unwanted items from commercial and residential properties and then transferring to appropriate landmass for proper recycling.
THE FRANCHISE CREATED FOR YOU
When you buy into the College Hunks Hauling Junk franchise, you will only be saddled with the responsibility of marketing your business to the community and also be involved in leadership and motivational activities for members of your team. You won’t necessarily spend time moving junks, members of your team do that, while you give them orientation of business skills and working together as a team.
HOW MUCH CAN I MAKE WITH THIS FRANCHISE?
Working as a franchisee with the company is quite lucrative. Averagely College Hunks Hauling Junk franchisees earn close to about $800,000. That is just the estimate for franchisees who offer junk hauling services only and also those that offer moving services. But for franchisees that offer both services, their revenues might go up to the tune of about $900,000
ARE THERE STILL FRANCHISE OPENINGS?
Yes, the company is seeking for new franchisees across the United States.
HOW MUCH DOES A COLLEGE HUNKS HAULING JUNK FRANCHISE COST?
Buying into the company’s franchise opportunity is quite lucrative, but also has its own financial requirements. The College Hunks Hauling Junkfranchise cost is the aggregate of all the investments needed to run a franchise unit. A new franchisee with the company will need to have an investment to the tune of about $90,000 to $220,000. The company also requires a net worth of about $250,000 and then a liquid cash requirement of about $75,000.
COLLEGE HUNKS HAULING JUNK FRANCHISE FEE
The College Hunks Hauling Junk franchise fee is the payment that the company gets from the franchisee in order for them to get the license to operate under the company’s brands and identities. The initial franchise fee is non-refundable and renewable after a period of time. The initial franchise fee payable to the company is between $40,000 and $50,000. The new franchisee will also need to make an on-going royalty fee of 7% and an ad royalty fee of 2% of the monthly gross revenue of the franchise unit.
The company does not offer any form of direct or indirect funding to the franchisee. Neither do they guarantee the franchisee any note or lease to request for loans from a 3rd party.
Every new franchisee with the company will be expected to undergo a mandatory training, which will hold for about 5-15 days at the company’s head office in Tampa, Florida. The training does not come with any additional cost. Franchisees will however be expected to cater for their bills they might incur in the course of the training, such as travel fee, lodge, feeding and other miscellaneous expenses.
TERMS OF AGREEMENT
The period of time at which the franchisee will operate under the company’s identity is 10 years. Once this expires, the franchisee will be expected to make another payment for a 10-year extension if they so wish to continue business with the company. Or if they are able to meet up with the company’s terms and conditions for term renewal.
HOW TO OPEN A COLLEGE HUNKS HAULING JUNK FRANCHISE
This article has discussed the information on how to open a College Hunks Hauling Junk franchise. However, to complete your application, you will need to visit the company’s website and submit your request to them.
This will be reviewed and the company will send a feedback if your application is considered or not. If you are lucky to be considered, the company will assign a franchise manager who will assist you in setting up your franchise unit.