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Description
Investment Icon

What Are the Initial Investment Requirements for a College Hunks Hauling Junk Franchise?

To become a franchisee with College Hunks Hauling Junk, you need to prepare for an initial investment ranging from $258,100 to $480,500. This includes a franchise fee of $55,000. Additionally, prospective franchisees must have liquid cash available between $150,000 and $250,000, and a net worth of $250,000 to $500,000. It's essential to assess your financial readiness to ensure you can cover both the startup costs and ongoing operational expenses.

Fees Icon

What Are the Financial Performance Metrics for College Hunks Hauling Junk?

College Hunks Hauling Junk franchises have shown strong financial performance, with an average annual revenue per unit of $1,284,036. The median revenue stands at $979,503, while some units report earnings as high as $9,728,266. Franchisees can expect to break even within about 10 months and achieve a return on their investment within a year. These figures highlight the potential profitability of investing in this franchise model.

Revenue Icon

What Are the Ongoing Fees Associated with College Hunks Hauling Junk?

Franchisees of College Hunks Hauling Junk are required to pay a royalty fee of 7% on their revenue, along with a marketing fee of 2%. These fees contribute to the overall support and marketing efforts that help drive business to franchise locations. Understanding these ongoing costs is crucial for managing your financial expectations and ensuring sustainable profitability.

Breakeven Icon

How Has College Hunks Hauling Junk Grown Over the Years?

The growth trajectory of College Hunks Hauling Junk is impressive, with the number of franchised units increasing from 128 in 2021 to 185 in 2023. This expansion indicates a strong demand for their services and a solid business model that attracts new franchisees. The company currently operates a total of 189 units, combining both franchised and corporate-owned locations, showcasing its successful market presence.

College Hunks Hauling Junk Franchise Financial Requirements

Below, you’ll find an overview of the initial investment needed to launch the business, along with the ongoing fees required by the franchisor to maintain operations over time.

Net Worth Required icon The minimum total assets (minus liabilities) you must possess.

i Net Worth Required:

$250,000 - $500,000
Investment Payback icon The estimated period to recoup your total investment.

i Investment Payback:

12 Months
Franchise Fee icon The initial fee paid to join the franchise system.

i Franchise Fee:

$55,000
Royalty Fee icon Ongoing percentage of revenue paid to the franchisor.

i Royalty Fee:

7%
Marketing Fee icon Regular contribution toward the franchise’s advertising fund.

i Marketing Fee:

2%
Breakeven Time icon The estimated timeframe to recover your initial costs.

i Breakeven Time:

10 Months
Initial Investment icon The total amount required to launch the franchise.

i Initial Investment:

$258,100 - $480,500
Cash Required icon The minimum liquid capital you must have on hand.

i Cash Required:

$150,000 - $250,000
Average Revenue icon The typical yearly revenue generated per franchise location.

i Average Revenue:

$1,284,036
Median Revenue icon The middle value of yearly revenue among franchise locations.

i Median Revenue:

$979,503
Highest Revenue icon The largest reported annual revenue among franchisees.

i Highest Revenue:

$9,728,266
Lowest Revenue icon The smallest reported annual revenue among franchisees.

i Lowest Revenue:

$245,171
Industry icon A broad sector defining similar types of franchise businesses.

i Industry:

Moving & Storage Franchises
Category icon A more specific division within the broader industry.

i Category:

Residential Moving
Leadership icon The key individuals guiding the franchise’s strategy and growth.

i Leadership:

Omar Soliman
Corporate Address icon The official business address of the franchisor’s headquarters.

i Corporate Address:

4411 West Tampa Bay Boulevard Tampa, Florida 33614
Funding Year icon Available financing options to help start the franchise.

i Funding Year:

2006
Parent Company icon The main organization that owns the franchise brand.

i Parent Company:

CHHJ Franchising L.L.C.

College Hunks Hauling Junk Franchise Unit Growth Summary

A breakdown of corporate, franchised, and total units, with yearly net changes.

The overall number of operating franchise locations.

Total Units i

189
The number of locations owned by independent franchisees.

Franchised Units i

185
The number of locations owned and run by the franchisor.

Corporate Units i

4
Units 2021 2022 2023
Total Units 131 155 189
Net Change YoY 24 34
Franchised Units 128 151 185
Net Change YoY 23 34
Corporate Units 3 4 4
Net Change YoY 1 0
Investment About

Franchise Overview

College Hunks Hauling Junk is a leading provider of junk removal and moving services, known for its commitment to customer satisfaction and community involvement. Established in 2005, the franchise has rapidly expanded, boasting 185 franchised units as of 2023. The brand focuses on eco-friendly practices, including recycling and donating items whenever possible, making it a socially responsible choice for franchisees and customers alike.

Potential About

Investment Details

Investing in a College Hunks Hauling Junk franchise requires an initial investment ranging from $258,100 to $480,500, which includes a franchise fee of $55,000. Potential franchisees should have a cash reserve of $150,000 to $250,000 and a net worth between $250,000 and $500,000. This financial structure supports new franchisees in establishing their businesses while ensuring they have the necessary capital for growth.

Metrics About

Revenue Potential

The average annual revenue per unit for College Hunks Hauling Junk is approximately $1,284,036, with a median annual revenue of $979,503. This indicates strong earning potential, with some units generating as much as $9,728,266 annually. Such revenue figures highlight the franchise's robust business model and market demand for its services.

Fees About

Operational Efficiency

Franchisees can expect a breakeven time of around 10 months, with investment payback typically achieved within 12 months. This quick turnaround is indicative of the franchise's effective operational strategies and strong market presence, allowing new owners to recoup their investments swiftly while starting to build profitability.

Breakeven About

Ongoing Fees

College Hunks Hauling Junk charges a royalty fee of 7% on gross sales and a 2% marketing fee. These ongoing fees are essential for maintaining brand standards and supporting national marketing efforts, ensuring franchisees benefit from collective advertising while contributing to the overall growth of the brand.

Units About

Support and Training

Franchisees receive comprehensive training and support from the College Hunks Hauling Junk corporate team. This includes assistance with marketing, operations, and ongoing business management. The franchise's commitment to its franchisees' success is evident through its robust training programs and resources, empowering owners to thrive in the competitive junk removal and moving industry.

Frequently Asked Questions

The initial investment for a College Hunks Hauling Junk franchise ranges from $258,100 to $480,500, which includes the initial franchise fee of $55,000.