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!
Big Sandwiches Equal Big Profits at Potbelly's Sandwich Works
The Potbelly’s train is firing on all cylinders and has successfully penetrated the uber-competitive fast casual sandwich sector. Potbelly sells a basic sub (PBJ, Pizza, etc) with relevant options (health, supremes) and offers an awesome dining experience. Their main target demographic is the lunch market, and their lunch lines are often out the door. Their menu includes soups, shakes and salads in addition to subs and the old-wood decor and live music make for a warm, neighborhood feel. Atmosphere is only the beginning though. Their products are well-crafted and satisfying. The quality of their ingredients is a cut above, yet price remains similar to that of their competition.
Before Buying a Franchise Identify Your TRUE Investment
Your approach as a potential franchise buyer is to identify the real investment dollars you’ll need to get the franchise to profitability. The initial source of this information is Item 7 in the FDD. Item 7 is a schedule that details the estimated investment in the franchise. This schedule includes the cost of various items, including: the initial franchise fee, training related expenses, rent, insurance, professional fees for legal and accounting services, supplies, equipment, licenses and permits and additional working capital. Depending upon the specific franchise, there may be added categories. When reviewing the Item 7 schedule it’s important to know that franchisors are not required to list every type of fee or expense that might be part of the investment in the franchise but rather the likely investment needed to start the franchise. As you work to establish your investment number keep in mind the words “estimated” and “typical.” Item 7 is a guide, and as such, you should use this information accordingly.
4 Business Functions Changing to Reflect Social Networking and Learning
Consumer social networking sites are not only transforming how people live their daily lives, they are also influencing several business-related functions. More and more of these socially-enabled tools, platforms, and best practices are fundamentally changing the way companies handle data, manage customers, and perform market research. Businesses can harness the power of socially-enabled tools that promote collaboration and eliminate departmental boundaries that might inhibit innovation. We aren’t talking about the need for small business to have and manage their own social media accounts. At this point, such initiatives should be a given. The focus is on ways social sharing is altering business processes at a core level, transforming how people “work.”