|SEASON 1 EPISODE 1|
|Pitch||packing and junk removal service franchise|
|Entrepreneur||Nick Friedman and Omar Soliman|
|Asked For||$250,000 for 25%|
What is College Foxes Packing Boxes?
College Foxes Packing Boxes was meant to be a moving service featuring college-aged women as the movers. The idea was based on the success of their College HUNKS Hauling Junk & Moving business.
Who Owns College Foxes Packing Boxes?
Omar Soliman and Nick Friedman are the duo behind College Foxes Packing Boxes, an idea meant to be a spinoff of their College HUNKS Hauling Junk and Moving brand. Today, the two remain on board as CEO and President of what has become the fastest growing junk removal and moving franchise.
Founder’s Story: How Did They Start?
Before College Foxes, Omar and Nick were longtime friends and college students looking for a little extra cash. In the summer of 2003, they rented a beat-up cargo van, created some fliers, and with a few referrals began their hauling junk and moving business.
Despite a rough economy at the time, demand for their services was so great that the business ended up making thousands of dollars that summer. The success of their summer side hustle got the two thinking about what the business could look like if it was professionally operated. From then on, they got to work on building the College HUNKS brand and business. Within 3 years, they had built a $3 million dollar business.
Excited by their growth, Omar and Nick decided it was time to grow big and grow fast by franchising. College HUNKS had already grown into a successful franchise business when Omar and Nick had the idea for College Foxes Packing Boxes. In 2008, they auditioned for Shark Tank with the hopes of leveraging their prior success to grow their College Foxes idea and hook a Shark.
What Happened After Shark Tank Update
Did College Foxes Get a Deal on Shark Tank?
Despite receiving an offer of $250,000 for 50% of College Foxes + 10% of College Hunks, from Robert Herjavec, Nick and Omar passed on the offer, and left the Shark Tank without a deal.
College Foxes Packing Boxes never took off as planned, but the College Hunks Hauling Junk and Moving franchise is still in business.
In recent years, the company has landed among the ranks of the country’s fastest growing franchises with over 130 franchises throughout Canada and the United States.
How Does College Hunks Make Money?
College Hunks’ revenue model includes revenues from franchise fees, junk removal fees, and moving fees.
The initial franchise fee is $40,000 to $60,000 but the total investment necessary to get a College Hunks franchise up and running is between $95,700 to $231,200. The additional costs to franchisees include the costs of licenses and permits, training expenses, rent, leases and security deposits, equipment and tools, and insurance
Junk removal fees vary depending on how much junk you’re hauling and the size of the truck needed. Prices can range from $100 – $600.
Moving fees vary by location take into account truck and fees and an hourly rate for their service.
Revenue, Sales and Valuation
Before appearing on Shark Tank, Nick Friedman and Omar Soliman had bootstrapped their junk removal business from 1 cargo van to $3 million in just 3 years!
Today, the company has grown exponentially to 2000+ employees, over $100 million in revenues with some franchises earning over $2 million in revenues.
College Hunks Hauling Junk Reviews
Over the years, College Hunks has received hundreds of reviews from customers who rate their service as professional, polite, timely and efficient.
In 2015, the company was named one of the country’s top job creators by Forbes magazine and in 2018, was ranked #1 in the hauling junk category by Entrepreneur magazine.
Moving review site, Move.org ranks College Hunks as the best company overall for junk removal and moving in 2021.
College Hunks Hauling Junk Competitors
The junk removal and moving industries are very competitive with well known companies like 1-800-Got-Junk LoadUP, U-Haul, Two Men and Truck and American Van Lines.
The company has lasted over a decade in business by differentiating itself as the ‘viral moving company’.
Their catchy, fun, colorful, yet professional brand image has helped drive its growth through customers who capture and share their experiences with the company on social media.
College Hunks Hauling Junk for Social Good
As part of its mission as a socially conscious company, in April 2020, College Hunks announced the start of its Free Moves for Survivors of Domestic Violence program. The company has teamed up with a number of certified domestic violence shelters to provide free moves for people living in abusive situations.
The program is also part of the company’s effort to extend a helping hand to domestic violence survivors who’ve been especially effected by COVID-19 pandemic stay-at-home orders.