What is franchising and how does it work?
A franchise is a license granting you, as the franchisee, access to a franchisor's proprietary business knowledge, products, processes, and trademarks. This allows you to sell products or services under the franchisor's business name. To acquire this right (the franchise) you will typically pay the franchisor an initial startup fee and annual licensing fees. Initial franchise startup fees can range from $10,000 to hundreds of thousands of dollars, depending on the franchise and industry, while annual licensing fees and royalties can cost between 4% and 13% of the franchise’s annual revenue. Considered a less risky business startup by lenders and a viable way to enter a highly competitive industry, franchises operate based on the Franchise Agreement they sign with their franchisor.
Is owning a franchise profitable?
While many aspiring entrepreneurs wonder if owning a franchise is profitable, the answer to this question is very simple: Yes, owning the right franchise can be very profitable—and there are several benchmarks to use to determine if the franchise you are considering will be profitable. Profitable franchises have:
At College HUNKS Hauling Junk & Moving, we provide you with all this and more when you franchise with us.
What are College HUNKS Hauling Junk and College HUNKS Moving?
College HUNKS Hauling Junk® and College HUNKS Moving® are two of the fastest-growing franchises in the United States, which can be run independently or together. The businesses are using award-winning branding and proven business systems to revolutionize the multi-billion dollar moving and junk-hauling industries.
Do I have to be in college? Do I have to be a hunk? Do I have to drive a truck or move stuff?
No! Your employees do the heavy lifting. Our franchise owners are simply the executive coaches on the sidelines. Your employees will be mostly college students. In our books, HUNKS are defined as Honest, Uniformed, Nice, Knowledgeable, Service professionals. Our franchise owners are of various ages and backgrounds.
Do you do lots of work on college campuses?
Actually, most of our clients are homeowners and businesses. We do our employee recruiting on college campuses, but the clients are typically upper-middle-class homeowners and/or commercial clients such as property managers, real estate agents, contractors, and storage facility managers.
What is the term of the franchise agreement?
The initial term of the College Hunks franchise agreement is 10 years, and it is renewable for an additional 10-year term.