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!
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The Moving Target: System Standards and the Franchisor's “Sole Discretion” to change Franchisee Obligations
Let’s make a deal: For the next 10 years, we’ll let you use our “Widgets-R-Us” name andtrademark and allow you to sell “Widgets-R-Us”-brand widgets. Our company, WRU, will even provide you with pre-opening assistance, and to the extent that the company deems appropriate, advise you on marketing and operations.
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The first is to understand the key drivers of success in your business -- that is to say, the three or four major strategies or operational processes that make up the engine of profitability and success for your organization. As an example, for a restaurant these factors may include things such as speed, consistency, freshness, cleanliness and friendliness. For an auto parts store the key drivers will probably include inventory availability, customer service, expertise and pricing/margins. Once you understand the key drivers, it is critical that you focus on them incessantly and help everyone in your organization understand that it is their responsibility to make sure those drivers are the top priority for them every day at work.