TAMPA, FL - (Marketwired - Sep 25, 2014) - When the ABC hit show Shark Tank debuted five years ago, the very first episode featured an exciting young company called College Hunks Hauling Junk. The junk removal business had already turned co-founders Omar Soliman and Nick Friedman into millionaires, and the company had been franchising for just two years.
On the show, Soliman and Friedman pitched their idea for a professional packing and organizing business, 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.
Soliman and Friedman said no, choosing to maintain full ownership of the College Hunks brand.
You can see their appearance on the show here: https://www.youtube.com/watch?v=kdpjydoK0iU
Five years later, it's clear they made the right choice.
Since 2009, when the show debuted, College Hunks Hauling Junk has tripled the size of its franchise system, growing 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.
To learn more, visit www.collegehunksfranchise.com.
College Hunks Hauling Junk