The Franchise Chatter Blog’s List of 20 Things Every Prospective Franchisee Needs to Know Before Investing in a BungoBox Franchise:
BungoBox (Moving Box Rental) Franchise Business Model
1. BungoBox is a franchise company that rents sturdy plastic moving boxes to residential and commercial customers. (BungoBox is not in the business of moving customers’ belongings.)
2. A customer can place an order online or over the phone. BungoBox can help the customer determine the number and sizes of boxes needed based on the amount of stuff that needs to be moved. BungoBox delivers the boxes to the customer’s location on the day scheduled. After the customer has moved, BungoBox picks up the boxes at the customer’s new location.
3. BungoBoxes are stackable (the bottom of each container fits securely on top of the previous one) and come in 2 sizes (3.8 cubic feet and 2.5 cubic feet). They are made of durable plastic, have secure lids that snap into place, and require no packing tape. BungoBoxes are reusable and have a lifespan of approximately 400 moves.
4. BungoWardrobes are also available, making it easy for customers to move clothes from closet to closet, without having to remove their hangers.
6. BungoBoxes are also available for purchase should the customer decide to keep all, or some, of the plastic moving boxes.
7. Currently, BungoBox can only accommodate customers who are moving locally — i.e. within the territory of existing corporate or franchise locations. This policy may change as more franchises are sold. BungoBox currently operates in Orlando, Tampa, and Palm Beach, FL, and in Phoenix, AZ. Dade County and Ocala, FL are currently serviced from Palm Beach and Orlando, respectively, but are available for franchising. A group of investors have purchased the right to franchise BungoBox in Canada, and their first location will be in Halifax.
8. BungoBox was founded in May 2009 by cousins Tom and Bob Cannon. Prior to co-founding the company, Tom served in the US Navy and helped launched three successful companies, and Bob was a commercial real estate broker and investor.
The Size and Scope of the Moving Supplies Industry
9. According to the American Moving and Storage Association, Americans spend approximately $10 billion on moving and packing services and products annually.
10. Twenty percent of the U.S. population — or one fifth of all Americans — move residences each year. The average American moves more than 16 times in a lifetime, or about once every five years. Assuming an average of 50 boxes per move, each person runs through about 800 cardboard boxes in a lifetime.
11. Only about half of the cardboard that Americans discard actually get recycled, according to the U.S. Environmental Protection Agency. Cardboard boxes can last for approximately four moves, according to U-Haul International, however, many times they are discarded after only one move and end up in a landfill.
12. BungoBox franchisees enjoy the following benefits:
- Comprehensive initial training program held at the BungoBox corporate headquarters in Orlando, FL, as well as at the franchisee’s location
- Operations manuals, training systems, documented processes, and other materials that will support and help the franchisee launch the business
- Online ordering system (franchisees get the business from customers within their territory who place orders online)
- Proprietary software and technology that will help the franchisee manage the operations
- Franchisees receive the BungoBoxes themselves and all of the product line
- Collateral materials, branding, web marketing, sales support, and logistical management
- Exclusive territory
BungoBox (Moving Box Rental) Franchise Cost
13. The total initial investment — including working capital and all fees — to start the operation ranges from $30,000 to $75,000, depending on the location and size of the operation.
14. The minimum net worth requirement is $40,000 in liquid capital available to invest in the business.
15. The amount of the initial franchise fee and ongoing royalty fees are not disclosed on their website.
BungoBox (Moving Box Rental) Franchise in the Press
16. BungoBox Opens Packing Franchise in Tampa Bay Area (published in St. Petersburg Times)
17. Ecopreneur Interview Series: BungoBox (published in Ecopreneurist.com)
18. How to Build an Innovative Moving Company: Interview with BungoBox Founder Tom Cannon (published in moomkin.com)
19. Canada’s First BungoBox Location to Open in Halifax (published in The Weekly News)
20. Outside the Box (published in the Gulf Coast Business Review)