5 Years After ‘Shark Tank’: College Hunks Hauling Junk Franchise Growing Strong
The moving franchise and junk hauling franchise has tripled in size since appearing on the debut episode of ABC’s hit show ‘Shark Tank’
When the ABC hit show Shark Tank debuted five years ago, the College Hunks Hauling Junk franchise was part of the very first episode. Our exciting company had already turned co-founders Omar Soliman and Nick Friedman into millionaires, and we had been franchising for just two years.
On the show, Omar and Nick pitched an idea for a professional packing and organizing business, a spin-off called College Foxes Packing Boxes. The idea drew a fair bit of skepticism from the venture capitalist “sharks,” but they ultimately offered funding in exchange for a percentage of College Hunks Hauling Junk ownership.
Why invest in a new concept when they could invest in a proven winner, they asked. Omar and Nick said no to their offers, choosing to maintain full ownership of the College Hunks brand.
Five years later, it’s obvious they made the right choice.
Since 2009, when the show debuted, our franchise has tripled in size from 16 franchisees to more than 50. As impressive as the franchise system’s growth has been, the most impressive statistic is the continued revenue growth for franchisees. Average revenue grew 42.6% from 2011 to 2013, and strong revenue growth has continued in 2014.
Shark Tank has become a runaway hit, as well, so appearing on it has been great for College Hunks. Episodes air nightly on CNBC, and the show recently started its new season in ABC’s Friday primetime lineup.
“College Hunks Hauling Junk was a proven winner back in 2009, which is why the sharks were eager to invest,” Friedman says. “Now, the track record of our brand is even stronger. We not only weathered the recession, we grew. Now that the economy is stronger and the housing market is stronger, we expect to grow faster.”
Friedman expects College Hunks Hauling Junk to triple its number of franchisees again over the next three years.
The brand has made some exciting moves since 2009. The biggest one was adding a moving franchise concept, which is offered alongside its junk removal franchise concept. Franchisees can operate both concepts while paying just one franchise fee — a unique proposition that has helped drive results for College Hunks Hauling Junk franchise owners. The moving franchise and junk removal franchise complement one another — customers who need one often need the other — creating cross-selling opportunities for franchisees.