Soliman and Friedman created and submitted a formal business plan for an entrepreneurship competition at Soliman’s university. They discovered they had won the $10,000 first prize when they returned from Spring Break. As a result, College Hunks Hauling Junk was formed. Here we will see about What Is College Foxes Packing Boxes?
The College Foxes Packing Boxes business is a subsidiary of the College Hunks Hauling Junk business. College Foxes Packing Boxes is a packing and moving business.
The popularity of College Hunks Hauling Junk inspired the concept.
The success of College Hunks Hauling Junk led them to high rankings in numerous magazines which only increased their exposure and sales. They submitted for Season One of Shark Tank in the hopes of expanding their new business idea and were accepted.
The Founder Of College Foxes Packing Boxes
- As part of their company College Hunks Hauling Junk & Moving, Nick Friedman and Omar Soliman founded College Foxes Packing Boxes.
- Both remain CEO and President of the company, which has grown to become the fastest-growing garbage disposal company in the country.
- Omar and Nick, both college students, came to College Foxes for some additional income.
- In 2003, they rented an old cargo van, printed some flyers, and began carrying junk and moving with referrals.
- Despite the terrible economic climate, their company made thousands of dollars that summer.
- When their summer side hustle paid off, they started thinking about what a professional-run business might look like.
Creation of College Hunks Hauling Junk & Moving & coming up with the concept for College Foxes Packing Boxes
- They created the College HUNKS brand in addition to expanding the business. Within three years, the company had grown to be worth $3 million.
- Omar and Nick saw franchising as a wonderful option to quickly expand their firm because of its success.
- College Hunks Hauling Junk & Moving had already blossomed into a thriving franchise business when Omar and Nick came up with the concept for College Foxes Packing Boxes.
- In 2008, they auditioned for Shark Tank, seeking to build on their previous success and attract a Shark to their College Foxes concept.
Before Shark Tank
- Nick Friedman and Omar Soliman founded College Foxes Packing Boxes as an alternative to hiring a boring person to pack boxes in your home.
- College Hunks Hauling Junk, Nick and Omar’s prior successful junk removal firm, inspired their new venture.
- Following Omar’s $10,000 victory in a contest, Nick and Omar formed their first firm. College Hunks Hauling Junk expanded to become a franchised firm in less than two years as a result of Nick and Omar’s entrepreneurial abilities.
- Their success resulted in prominent placements in several periodicals, which increased their exposure and sales.
College Foxes Packing Boxes Pitch on Shark Tank
Soliman and Friedman go to Shark Tank in the hopes of securing a $250,000 investment in exchange for a 25% ownership in the business. They only give you a piece of the College Foxes Packing Boxes franchise, not the existing successful College Hunks.
The Sharks have a business strategy in the young men:
professionally trained youth who give superior service in the market for organizational services, as well as a proven client base.
Robert is in search of information. He asks whether they would be willing to sell a portion of the College Hunks business.
Only giving a stake in the new venture that is the College Foxes Packing Boxes
The partners propose a stake in the new venture rather than the current one. Kevin O’Leary has decided to get involved. The sharks stated that they would not give them a penny until they purchased a significant percentage of their current business.
The Sharks are adamant about including the College Hunks in any agreement, which frustrates the young players. They’ve built a thriving business and are adamant about not handing over control.
After exchanging a few words, the pair returns to Shark Tank to offer $1 million for a 10% stake in the company.
The Sharks’ lone surviving member is Robert Herjavec
He is astounded by the young men’s self-assurance. Robert offers them $250,000 for 50% of Foxes Packing Boxes and 10% of College Hunks, which he refers to as collateral.
Soliman and Friedman both decline the invitation.
They are adamant about keeping their Hunks’ business. They walk away from Shark Tank with nothing.
After Shark Tank, the College Foxes are filling boxes
College Foxes Packing Boxes failed not to acquire traction after its appearance on Shark Tank. They put “the business on hold” at first, but it’s more than probable that they elected to focus solely on College Hunks Hauling Junk.
Omar and Nick’s original business, on the other hand, has been a huge success, with their franchise growing to sixty-eight locations since the show aired.
Nick and Omar are the authors of the book “Effortless Entrepreneur” and have appeared on Fox Business News.
College Foxes Make Money:
College Hunks’ business plan consists of franchise fees, rubbish disposal costs, and relocation fees. The initial franchise fee ranges from $40,000 to $60,000, with a total investment of $95,700 to $231,200 necessary to start a College Hunks franchise.
Licenses and permissions, training, rent, leases, security deposits, equipment and tools, and insurance are all additional costs. The cost of junk removal is determined by the amount of junk to be removed and the vehicle required. Prices could range anywhere from $100 to $600.
Moving prices vary by location and include the vehicle’s cost as well as an hourly fee for their services.
While the College Foxes Packing Boxes did not take off as expected, their initial company, College Hunks Hauling Junk and Moving, is still in business.
Clients have described College Foxes as professional, courteous, prompt, and efficient, and they have received hundreds of excellent evaluations.
In 2015, Forbes magazine named the company one of the top job creators in the country, and in 2018, Entrepreneur magazine named it #1 in the garbage collection area.
College Hunks has been named the top overall trash removal and moving company in 2021 by Move.org.
How much is College Foxes Packing Boxes Sales, Revenue, and Valuation?
Nick Friedman and Omar Soliman’s junk removal business had grown from a single cargo van to $3 million in three years before coming on Shark Tank. The company now employs over 2000 people and generates more than $100 million in revenue, with some franchisees making more than $2 million.
Competitors of College Foxes Packing Boxes?
In the junk removal and moving industries, companies like 1-800-Got-Junk-LoadUP, U-Haul, Two Men, and a Truck, and American Van Lines fight fiercely.