Listing ID: 67628
Rare opportunity to own a College Hunks Hauling Junk and Moving Franchise – one of the highest-rated and most successful franchises. In 2019 Entrepreneur Magazine listed College Hunks as the #1 Franchise in its category and ranked them #146 overall. With over 130 franchisees and a state of the art call/booking center, the franchise saw explosive revenue growth of over 25% in 2019 in this $10 billion dollar industry.
Northwestern Virginia franchise has had a presence in the community for over 6 years. Since 2016 the location has grown to a fleet of 15 moving, hauling, service, storage and sales vehicles. The sale includes two territories, one covering the Winchester area, and the other covering the Manassas area. Opening a satellite office in Manassas could easily double revenues. They have seen tremendous success in cultivating growth through local business to include maintenance facilities, realtors, property management groups and other local businesses. Since 2016’ Revenue Growth 288%, Year over year average 32.6%. This business has multiple revenue streams by offering a one-stop-shop for full service moving, moving labor, moving supply sales, junk removal, and general labor.
The business is a franchise benefiting from national brand awareness, a national call center to support customer service, and an effective technology and operations infrastructure for managing and growing the business effectively. This is a tremendous opportunity to own this essential and recession-proof business and be a part of a Franchise that is the best in the business!
- Asking Price: $750,000
- Cash Flow: $250,000
- Gross Revenue: $1,600,000
- EBITDA: N/A
- FF&E: $350,000
- Inventory: $10,000
- Inventory Included: Yes
- Established: 2016
- Property Owned or Leased:N/A
- Property Included:N/A
- Building Square Footage:2,200
- Lot Size:N/A
- Total Number of Employees:7
- Furniture, Fixtures and Equipment:N/A
The company was started in 2016, making the business 6 years old.
The sale shall include inventory valued at $10,000, which is included in the listing price.
The business has 7 employees and is located in a building with estimated square footage of 2,200 sq ft.
The building is leased by the business for $1,675 per Month
Why is the Current Owner Selling The Business?
There are all types of reasons why individuals resolve to sell operating businesses. However, the genuine reason vs the one they say to you might be 2 completely different things. As an example, they may state "I have too many various obligations" or "I am retiring". For lots of sellers, these factors are valid. However, for some, these may just be excuses to attempt to conceal the reality of changing demographics, increased competition, recent reduction in profits, or a variety of other factors. This is why it is very essential that you not count totally on a vendor's word, yet instead, make use of the vendor's response in conjunction with your overall due diligence. This will paint a more reasonable picture of the business's existing circumstance.
Existing Debts and Future Obligations
If the current entity is in debt, which lots of companies are, then you will have reason to consider this when valuating/preparing your deal. Numerous companies finance loans in order to cover points such as supplies, payroll, accounts payable, etc. Remember that in some cases this can indicate that profit margins are too small. Lots of organisations come under a revolving door of taking on debt as a way to pay back various other loans. Along with debts, there may also be future commitments to take into consideration. There may be an outstanding lease on equipment or the structure where the business resides. The business might have existing contracts with suppliers that should be fulfilled or might lead to penalties if canceled early.
Understanding the Customer Base, Competition and Area Demographics
Exactly how do operating businesses in the area attract new clients? Many times, operating businesses have repeat customers, which develop the core of their daily revenues. Specific variables such as new competition growing up around the location, roadway construction, and also employee turn over can influence repeat consumers as well as adversely impact future earnings. One important point to think about is the area of the business. Is it in a very trafficked shopping mall, or is it hidden from the highway? Undoubtedly, the more people that see the business on a regular basis, the higher the opportunity to build a returning consumer base. A final thought is the basic area demographics. Is the business located in a densely inhabited city, or is it located on the outside border of town? Just how might the local mean house earnings impact future income prospects?