Are you interested in the junk removal and moving services industry and looking for information on How to Start a CHHJ Franchising LLC – College Hunks Hauling Junk and Moving company franchise?
This article will help you understand the CHHJ Franchising LLC business concept, including its profit potential, financial requirements, and comprehensive instructions for launching this franchise in the US and Canada.
- Initial Franchise fee: $45,000 to $65,000
- Business Licenses & Permits: $500 to $3,000
- Liquid Capital cash: $75,000
- Net worth: $200,000
- Term of Agreement: 10 Years
- Insurance Deposit: $1,500 to $7,000
- Training Fee: $1,500 to $5,000
- Estimated Initial Investment: $108,700 to $273,200
College HUNKS Hauling Junk & Moving Company® (CHHJ), America’s fastest growing and Highest rated Junk-hauling franchise in the US. Every year, Americans spend billions of dollars on moving and rubbish removal. Additionally, they share countless horror tales about fraudulent movers or terrible services.
With the rapid growth in the junk removal demand, Brand is rapidly expanding its business through franchising in different cities. College HUNKS strives to offer the best services to its consumer to supersede relocating-related stress with comfort and relaxation.
Table of Contents
CHHJ Franchising LLC – College HUNKS franchise
College HUNKS, a renowned brand of junk hauling and moving organization, was established in 2004 by Omar Soliman and Nick Friedman. They have 165 locations spread across the US and Canada, just three of which are company-owned; the other 162 are franchised-owned.
College HUNKS began franchising in 2006, and with its comprehensive low-cost strategies, which helped franchise unitholder to gain customers and generate outstanding revenue, the company has grown by 337% over the last seven years, from $442K in 2013 to $1.13M in 2020.
With a precise focus on providing a stress-free relocation, the franchise offers varieties of incredible services to its consumers,
- Junk removal
- Complete service moving for local and long distance
- Office relocation
- Home Donation Pickup
College Hunks – The Journey
The journey from winning the first-prize check for $10,000 for the annual Rothschild Entrepreneurship Competition to making a $1,311,000 revenue-generating company is mesmerizing. College HUNKS is well-known for its junk removal, local and long-distance full-service moving, and office relocation services.
Looking for F&B Industry, then consider checking franchises like Black Rifle coffee, Teriyaki Madness, Creams Cafe, and Jamba Juice franchise.
Why to Own a College HUNKS Franchise
The American Moving & Storage Association estimates that just the packaging and moving sectors together generate $10 billion in annual revenue. The Entrepreneur mag has listed the College HUNKS franchise seven years in a row.
Below are a few best-known benefits of College HUNKS Hauling Junk franchise,
- Being among the most well-known eco-friendly and recognizable professional Junk Hauling and Moving companies across the US and Canada may provide an extra edge over the competition to a unitholder.
- College HUNKS Hauling Junk operates at a low-cost business model, which helps the franchise owners to gain customers and generate tremendous revenue.
- Moving firms’ hassle-free services are their primary competitive advantages in the long run, and the franchise is significantly investing and exploring it.
- The franchise offers a comprehensive training program that aids unitholders in comprehending the daily operations of the organization.
- The College HUNKS franchise uses multiple marketing strategies like traditional marketing and digital marketing strategies to increase its customer base.
- College HUNKS Hauling Junk is known for its best-in-class marketing support, which has led to it winning a national award and generating results from them.
Types of College HUNKS Hauling Junk Franchise
Generally, Based on the Franchise Agreement, College HUNKS offers four types of franchises to its candidates.
- Small Market Franchise Agreement
- Conversion franchise
- Affiliate or Company-owned zone
Small Market Franchise Agreement:
College HUNKS offers small market franchises for Zones with a population between 5,000 and 299,999. A small market franchisee must offer both junk removal and moving services.
The initial franchise fee for a Small Market franchise is 15% of the Zone population. For example, if a Zone population is 100,000, then the franchise fee will be $15,000 only. The initial franchise fee is Non-refundable.
Conversion franchise
College HUNKS offers conversion franchises for business operators in a similar business who wish to convert into their system. The initial franchise fee for a conversion franchise is 10% of the total sales for the previous year. For example, if total sales of the last year are $200000, then the initial franchise fee will be $20,000 only.
The total discount will not exceed $30,000 in this model.
Affiliate or Company-owned zone
In this model, an affiliate may offer to sell zones they currently operate to a new or forthcoming franchise. For instance, if the total sales of an Affiliate or Company-owned zone are $50,000 for the previous year, the franchise fee would be $50,000 plus $50,000.
If less than a 12-month operating history is available, the gross sales to date will be converted to an annualized amount to determine the purchase price.
The initial franchise fee is Fully earned and Non-refundable.
How much does a College HUNKS Franchise cost?
Interested applicants have the opportunity to purchase a College Hunks Hauling Junk® franchise, a College Hunks Moving® franchise, or both, depending on your financial ability and your professional experience. The College Hunks Hauling Junk® concept and College Hunks Moving® concept are two separate but similar business models.
After signing the Franchise Agreement, The franchise grants approval to qualified applicants for the right to develop and operate a single Franchised Business at an approved location.
Deposit Agreement:
After Signing the Franchise Agreement, College HUNKS may require you to pay at least 30% of the initial franchise fee(Non-fundable) for the Deposit Agreement.
Below are the details of cost involved in starting a College HUNKS Hauling Junk Franchise
| Type of Expenditure | Amount |
|---|---|
| Initial Franchise Fee | $45,000 to $65,000 |
| Rent – 3 Months | $3,600 to $9,000 |
| Lease, Utility and Security Deposits | $3,600 to $7,200 |
| Paint and Signage | $3,100 to $5,500 |
| Service Vehicle – Deposit on Lease or Finance | $0 to $22,000 |
| Equipment and Hand Tools | $2,000 to $6,000 |
| Office Equipment and Supplies | $2,000 to $6,000 |
| Business Licenses & Permits | $500 to $3,000 |
| Professional Fees | $1,000 to $2,500 |
| Insurance Deposit | $1,500 to $7,000 |
| Training Expenses | $1,500 to $5,000 |
| Business Ramp-Up Advertising | $10,000 to $20,000 |
| Additional Funds (6 months) | $40,000 to $120,000 |
| TOTAL ESTIMATE INITIAL INVESTMENT | $108,700 to $273,200 |
The estimates above are for a single Service Vehicle and a single location. If you choose to purchase both concepts, your initial investment may be significantly higher.
See also: Jani-King franchise – Cost, Profit, Owner Salary, and Failure rate – Jani-King franchise
College HUNKS franchise requirements
There are few other professional franchises older than College HUNKS but do not have prime territories left that are available for the new franchise; one must follow instructions and adhere to the standards set by the company to get franchise approval.
- Franchisee unitholder must possess strong leadership qualities, be enthusiastic, optimistic, passionate, and people-oriented for their business.
- College HUNKS needs its Unitholder to be good listeners, detail-oriented, and have a “never give up” attitude.
- Applicants must have a proven track record of responsible financial management and be financially capable of taking on the risk of starting a business.
- According to the business, the franchisee unitholder should have a minimum net worth of $200,000 and liquid assets totaling $75,000.
- The owner must follow the requirements outlined in the Franchise Agreement and be actively involved in the day-to-day activities.
See also: Roof Maxx Dealership opportunity – Pros & Cons, Cost & Profit – Roof Maxx
College HUNKS franchise profit
As a franchise, it employs low-cost strategies and offers professional eco-friendly services and digital marketing strategies. In the long-term, one might anticipate a Net profit margin of 30-40% of revenue.
Franchise is recognized by several top associations,
How to apply for College HUNKS Franchise?
Interested individuals can apply for the Franchise from their official website. After navigating to the official website, you need to fill in requested details such as Name, Address( Including State and City), Contact number, and E-mail address.
One can also reach out to their Tel number to get a quote and franchise – tel: 878-205-2146
Conclusion
Opening a CHHJ Franchising LLC will be beneficial for the interested aspirants given its future growth potential, proven business model, flexible franchising model, eco-friendly and low cost, services offerings, extensive marketing strategies, and more than 18 years of experience in this field.
Furthermore, the College HUNKS franchise is recession-proof, and one needs to apply for a franchise and start earning within a few months. Being an established and systemized player in this industry will help new franchisee prospects run this business hassle-freely.
If you’re willing to work in the Junk hauling and moving business and have a budget for investments between $108,700 to $273,200, you can seize this opportunity and earn a respectable profit margin of 30-40% on its gross sales.
Read more:
Looking to invest in food franchise, then do check out Creams cafe, Panda Express, Jollibee, Dixie creams, The counter, Starbird, Kung fu Tea, Iniburger, and much more.
Is Shake shack franchise and White castle franchise profitable?
FAQ
What are the financial requirements to own a CHHJ Franchising LLC?
To setup a College Hunks, one would need an investment of $108,700 to $273,200 as a total Initial cost. Below are the some basic financial requirement for CHHJ;
Initial Franchise fee: $45,000 to $65,000
Business Licenses & Permits: $500 to $3,000
Liquid Capital cash: $75,000
Net worth: $200,000
Term of Agreement: 10 Years
Royalty Fee : 7% of Gross Revenue
Insurance Deposit: $1,500 to $7,000
Training Fee: $1,500 to $5,000
Estimated Initial Investment: $108,700 to $273,200How much does a CHHJ Franchising LLC owners make?
As per Franchise latest data, one would at least need $108,700 to $273,200 in reserve including $45000 for a initial franchise fee.
What is the phone number of CHHJ Franchising LLC and website?
Telephone number : 878-205-2146
Official website: https://www.collegehunkshaulingjunk.com/
