You may be thinking "How much to start a junk removal business?", with College HUNKS Hauling Junk & Moving®, a junk removal franchise costs less than you think! Let us help you live out the dream of business ownership.
With College HUNKS, a junk hauling franchise costs less than you think! Our franchise opportunity allows you to live out the American dream of business ownership and become your own boss.
If you’re entrepreneurially minded like us, let us help you achieve your dreams! From small operations to big franchise opportunities, we’re proud of the growth we’ve experienced and are ready to help fellow entrepreneurs with all the industry-leading resources they need to be successful.
When you become a College HUNKS franchise partner, you can look forward to:
Purchasing a College HUNKS franchise is an affordable investment and, as such, requires a relatively low initial investment. We think you’ll agree there’s tremendous growth potential to take our opportunity to the next level!
College HUNKS Hauling Junk & Moving® is a low-cost franchise with tremendous growth potential. Average College HUNKS franchise partner revenue is strong and growing. In the past seven years, our average franchise partner revenue increased by 337%: from $442K to $1.31M in 2020. (That average includes franchisees offering both junk removal and moving services and that have been in business for at least one year.)
To become a College HUNKS franchise partner, you should have:
The total investment necessary to begin operating a College HUNKS Hauling Junk® or College HUNKS Moving® franchise ranges from $158,700 to $288,500. This includes $45,000 to $65,000 for the franchise fee, depending on whether or not you operate one concept or both, and working capital to cover expenses during the first six months of operations. With the cost of gas and insurance continuing to increase, we are currently recommending that candidate considering the College Hunks franchise amount as $300k - $350k all-in.
The College HUNKS royalty rate is 7% of gross sales. Franchise partners pay a 2% Brand Development Fee that supports our national-level marketing efforts.
Most junk removal franchise owners finance the startup costs. If you have at least $75,000 in liquid capital (cash, home equity, 401(k) or IRAs, sellable assets like extra vehicles, etc.) and a net worth of $200,000, there’s a good chance you will be able to finance a College HUNKS franchise. Keep in mind that if you have more than enough cash to get started, it may make sense to conserve some of your cash for the startup phase of your business.
These costs are estimated, as the total costs may be higher if you launch the junk-hauling and moving concepts simultaneously. At the same time, your costs will be lower if you choose just one service.
We encourage new franchise partners to offer both services, as they complement one another and can result in additional revenue streams. Oftentimes, customers who need one service often require the other as well. When you offer both moving and junk removal services, you can fulfill more customers’ needs, generate more revenue, and enjoy higher levels of repeat business.
When you reach out to us to discuss a franchise opportunity, we’ll be able to provide you with a more accurate estimate that takes into account your preferences, location, truck requirements, and other variables. Additionally, we provide full investment information in our current Franchise Disclosure Document (FDD).
There are many ways to finance your franchise. We can work with you to explore a range of financial assistance options, including home equity loans and SBA loans, or you can utilize retirement funds. When you reach out, we’ll discuss your options based on your current financial standing and find what works best for you.
For example, you may have more liquid assets than you realize. In addition to your checking and savings accounts, you can sell the extra car in your driveway or the boat in your garage to help get your business started.
Home equity loans. Owning your home or other real estate comes with benefits. If you’ve owned property for several years, you may have equity that can be easily tapped and is generally the least expensive way to finance a small business. Additionally, the loans can be advantageous thanks to the ability to deduct interest payments from your taxes.
SBA loans. College HUNKS is a part of the US Small Business Administration (SBA) Franchise Registry. This is a big advantage for franchise partners seeking an SBA loan, as inclusion in the registry allows banks to skip several steps in the approval process, making the lending process faster. As one of the most common financing options for new businesses, you’ll be asked for extensive documentation about your proposed business, your financial information, and collateral for the loan.
Tap retirement funds without penalty. You might not need a loan at all if you have a 401(k) or an IRA. By rolling your savings over into a self-directed IRA, you can use those funds to start a business without incurring any early withdrawal penalties. We encourage prospective franchise partners to work with a skilled financial advisor if you’re interested in this option, as the process can be tricky.
When you invest in a moving company franchise with College HUNKS, you can build a business, become financially independent, and gain a greater sense of purpose.
College HUNKS Hauling Junk & Moving® utilizes advanced systems that are designed to help you grow your business. Our franchise opportunities are designed to scale up quickly, and with our Truckonomics guide, you’ll be able to gauge the progress of your business and determine if it’s the right time to add another truck to your fleet or carry out other expansion options.
The average College HUNKS franchise revenue sales were $1.3M in 2020 for locations in business for at least a year. If you’re wondering "is junk removal business profitable?", please feel free to contact us for our free Franchise Information Report, which includes Item 19 Financial Performance Representations from our Franchise Disclosure Document (FDD).
A breakdown of all income and costs of a single truck per month.
Monthly Sales Per Truck – Junk
Jobs Per Day – 3.5 – Assuming truck performs 3.5 jobs per day and operates 10 hours per day
Average Revenue Per Job – $346 – Not including recycling income
Work Days Per Month – 26 – Based upon operation 6 days per week (Mon-Sat)
Monthly Gross Sales – $31,000
Driver Lead – $3,380 – $13.00 per hour at 3,120 hours per year (6*10*52) (assumes bonus incl.)
Wingman – $2,860 – $11.00 per hour at 3,120 hours per year (6*10*52)
FICA/FUTA/SUTA – $665 – 10.65% (7.65% + 3%) of personnel costs (driver + navigator)
Workers Comp – $936 – 15% of personnel costs (driver + navigator)
Fuel & Other Variable Truck Costs – $1,240 – 4% of monthly Gross Junk Sales (Tracking, Fuel, Parking, Tolls)
Disposal/Transfer Fees – $2,170 – 7% of monthly Gross Junk Sales
Vehicle Insurance – $750 – Per truck - decreases as additional trucks added
Truck Payment – $1,000 – Assuming truck is financed/leased
Local Advertising – $3,100 – 10% of Sales
Truck Maintenance – $300 – Oil changes, tires, tarp replacement, etc.
Continuing Royalty Fee – $2,170 – 7% of monthly Gross Sales
First Contact Sales & Loyalty Center Fund – $2,210 – Assuming $945 ($799 Junk Only) flat fee plus call center bookings needed for 4 jobs per day ($19 per booking)
National Brand Development Fund – $620 – 2% of monthly Gross Sales
Total Monthly Costs – $21,206
Plus Recycling Income – $620 – Approximately 2% of monthly Gross Sales
NET OPERATING PROFIT PER TRUCK – $10,414
We’re here to answer any questions you might have, so get in touch today!
College HUNKS Hauling Junk & Moving is proud to be America’s fastest-growing moving and highest rated junk hauling franchise. We utilize a smart business model to drive our growth, giving you the opportunity to be an executive in your business. So what are you waiting for?
