1-800-JUNK-USA Acquires College Hunks Hauling Junk Franchise
Looks like the College Hunks are graduating to the Penthouse.
Privately held 1-800-JUNK-USA, based in Tampa, FL, has announced that it is acquiring the College Hunks Hauling Junk franchise. Founded back in 2003, College Hunks began offering franchise opportunities in 2007, and is today the largest franchise system of its kind in the U.S., with franchisees in more than 35 domestic markets.
Terms of the deal weren't disclosed, but we're guessing the co-founders of College Hunks, who launched their venture as a side project while attending college in our nation's capital, won't be eating ramen noodles and store-brand cola for much longer. (Actually, given the duo appeared on the millionaire matchmaker about a year and a half ago, it's probably been some years since these two were forced to chow on $0.50 cancer bowls to power their entrepreneurial engines).
Franchise mergers and acquisitions, like all major corporate transactions, are always a tricky affair. After all, the majority of M&A deals end up in failure. One senses, however, that 1-800-JUNK- USA has managed to acquire themselves a fast-growing business with strong brand recognition and substantial future prospects.
Time to tap the keg!
5 Reasons Why Franchisees Fail
There are a number of reasons why a franchise can fail. Some of the reasons are based upon a lack of capital and/or particular skills necessary for a particular franchise to be successful. On the other hand, there may be factors that are out of the franchisee's control: a franchise program that has a lack of customer demand or a poor product, for example, can lead to failure despite the franchisee’s best efforts (another example of why the franchisee should have done their research before investing).
Why Do Companies Franchise?
The most successful entrepreneurs, however, eventually come to recognize that achieving long-term success requires that they step back and put in place the right systems, processes, and people to expand their company beyond what any one individual -- no matter how motivated and sleep deprived -- could possibly manage on his or her own. Once a business owner sees what's possible when employees take on operational responsibilities that free management to actually manage instead of act like their own employee, he or she quickly understands the enormous power that scalability means for a business.
Steps to Select and Protect a Valuable Trademark
The first thing to keep in mind when selecting a trademark is that not all words and names are capable of being protected as trademarks. No one business owner can claim exclusive rights in generic terms and logos, because all business owners need to be able to use these in order to identify their goods or services. Thus, a residential painting franchise likely could not claim exclusive rights in the name “Painting Pros”, because this is simply a generic description of the services that the business offers.