In this FDD Talk post, you’ll learn the following:
- Section I – Background information on the College Hunks Hauling Junk & Moving franchise opportunity, including relevant news updates
- Section II – Estimated initial investment for a College Hunks Hauling Junk & Moving franchise, based on Item 7 of the company’s 2021 FDD
- Section III – Initial franchise fee, royalty fee, marketing fee, and other fees for a College Hunks Hauling Junk & Moving franchise, based on Items 5 and 6 of the company’s 2021 FDD
- Section IV – Number of franchised and company-owned College Hunks Hauling Junk & Moving outlets at the start of the year and the end of the year for 2018, 2019, and 2020, based on Item 20 of the company’s 2021 FDD
- Section V – Presentation and analysis of College Hunks Hauling Junk & Moving’s financial performance representations, based on Item 19 of the company’s 2021 FDD, including information on the:
- 2020 average gross sales, royalty costs, disposal costs, truck labor costs, truck fuel costs, maintenance costs, credit card fees, moving supply cost, total cost of service, gross profit, marketing expense, office staff costs, rent and utilities expense, other expenses (insurance, etc.), total general and administrative expenses, and EBITDA for the 90 franchised and 3 affiliate-owned outlets that responded to a survey or are a part of the franchisor’s bookkeeping program, and were in operation for at least 12 full months as of December 31, 2020
- 2020 average gross revenues, junk revenues, moving revenues, other revenue (labor, scrap, supply, valuation), job size (junk removal, moving, and overall), number of completed jobs per day, number of unique leads per day, lead conversion to sale %, completion %, cost per lead, marketing expense, and number of leads for the 90 franchised outlets, 9 junk removal only franchised outlets, 2 move only franchised outlets, 79 junk removal and moving franchised outlets, and 3 affiliate-owned outlets that responded to a survey or are a part of the franchisor’s bookkeeping program, and were in operation for at least 12 full months as of December 31, 2020
- 2020 average, median, highest, and lowest gross sales for the 90 franchised and 3 affiliate-owned outlets that responded to a survey or are a part of the franchisor’s bookkeeping program, and were in operation for at least 12 full months as of December 31, 2020, based on the number of years in operation as of December 31, 2020 (1st full calendar year, 2nd full calendar year, 3rd full calendar year, 4th full calendar year, and >4th full calendar year)
- average, median, highest, and lowest monthly income of franchise locations in operation for less than 24 months as of December 31, 2020 (1st month, 6th month, and 12th month)
Section I – Background Information
23 Things You Need to Know About the College Hunks Hauling Junk & Moving Franchise
Closes 2020 with Record-Setting Year
1. Despite the challenges of 2020, College Hunks Hauling Junk & Moving spent the year making an impact. Not only has College Hunks shattered a number of internal sales goals, but it’s also been recognized by the likes of Franchise Grade, Franchise Chatter, Franchise Business Review, and Entrepreneur Magazine for its top-ranking franchise opportunities.
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2. In 2020, College Hunks broke its records for most sales in a week, most sales in a month, most sales in a quarter, and most sales in a year. In addition to a record-setting year for franchise development, the brand has taken great strides to further its long-time focus on philanthropic causes.
3. Dana Hansen, director of franchise development for College Hunks, said, “To generate numbers like these in the midst of a pandemic, during an election year, and with a short-handed team just makes it all the more amazing. Every benchmark we set was surpassed, and every goal was not only met but exceeded. This kind of performance is what you always hope to see, but in reality, is rare.”
4. Community support is a core tenet of the College Hunks brand. Through a longstanding partnership with Feeding Children Everywhere, September of 2020 saw the brand reach 1.6 million meals donated. In the wake of COVID-19 and its unintended consequences, the College Hunks team began a new initiative: offering essential, no-cost moves to victims of domestic violence as cases skyrocketed during lockdowns.
5. To top off an already-stellar year, the brand also earned industry recognition in the following categories:
- Franchise Grade: A-Rated Franchise
- Franchise Chatter: Top-Rated Franchise
- Franchise Business Review: 2020 Top Franchise Culture
- Entrepreneur Magazine: 2020 Top Low-Cost Franchise
- Entrepreneur Magazine: 2020 Top Franchise for Veterans
- Entrepreneur Magazine: 2020 Top Growth Franchise
6. Nick Friedman, co-founder of College Hunks, said, “Last year we said we couldn’t wait to see what 2020 had in store, and did it ever show us. What we’ve accomplished this year has been no small feat and we don’t take it lightly. Without a doubt, our success is owed to the energy and dedication of our corporate team, franchisees, employees and the communities we serve. It’s our honor to support the communities that support us.”
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Announces New Brand President
7. In mid-January 2021, College Hunks Hauling Junk & Moving, an industry leader in stress-free solutions for moving and junk-hauling needs, chose a member of its executive team as its new brand president. Roman Cowan, former chief operating officer, adopted the brand president role following an exemplary seven years of transformation within the company.
8. Cowan’s College Hunks career began as corporate financial controller, where he prioritized a greater focus on understandability and transparency of the company’s financials and metrics. In that role, Cowan developed the financial acumen, leadership skills, and passion for the brand which fueled his quick rise to the role of chief operating officer.
9. Cowan said, “The purpose-driven mission of our brand, to move the world, has always aligned with my intent to promote growth and development within the Hunks organization. Knowing that every day we can improve people’s lives through service and socially-conscious values is what creates a company we all believe in and work to sustain.”
10. Most recently, Cowan led the company through a time of global adversity to its most profitable year to date, bringing record-breaking revenues and profits as a system and for nearly every individual franchise owner within the system. As brand president, Cowan obtained profit and loss accountability and the decision-making authority necessary to ensure the brand, franchise partners, and corporate team’s long-term success.
11. According to Nick Friedman, co-founder of College Hunks, “As logical and data driven as he is, the value of Roman’s contributions to this brand is immeasurable. Roman’s impact as chief operating officer has led us to new heights and shattered goals like never before. We are so proud of what each level of the company has been able to accomplish under his leadership. As brand president, we welcome Roman’s up-leveled energy and dedication to this new, evolved role and the company as a whole.”
12. Cowan is a recognized leader in the community as well as nationally. At the start of COVID-19, Cowan spearheaded the free domestic violence moves initiative at College Hunks. He was also recognized as a 2021 Top 10 Under 40 by Tampa Magazine. Cowan is an alumnus of the University of Tampa where he received a Bachelor’s in Accounting, Bachelor’s in Marketing, Master’s in Business Administration, and Master’s in Accounting.
13. College Hunks is a purpose-driven, values-based company dedicated to being a part of the community. The hunks serve customers throughout North America by offering fast, flexible, and dependable moving and junk removal services.
Becomes First Franchisor to Accept Cryptocurrencies as Franchise Fee
14. In mid-May 2021, College Hunks Hauling Junk & Moving announced it now accepts Bitcoin and Ethereum as payment for the upfront franchise fees. College Hunks has always prided itself on being tech-enabled, and acceptance of cryptocurrency is one step further in that evolution.
15. The up-front franchise fee for the combined junk and moving franchises is $60,000, which at the time of the announcement equated to approximately one Bitcoin or approximately 15 Ether. Both of those leading cryptocurrencies were at an all-time high. In the prior 12 months, Bitcoin had increased in value by 97.45%. Ethereum had risen 364.60% in the prior 12 months.
16. Nick Friedman, co-founder of College Hunks, said, “We recognize that cryptocurrencies are an acceptable form of payment and we want to lead the Franchise Industry in this area, starting with our up-front franchise fees. Coming out of the pandemic, College Hunks has experienced similar exponential growth to Bitcoin and Ethereum, growing nearly 100% and is on pace to do over $200 million in sales this year.”
17. College Hunks awarded 50 new franchises this year, a record-breaking number since its inception in 2005. The company has plans to continue evaluating blockchain and cryptocurrency innovations for various other forms of payment in the future, including the possibility of client moving and junk removal services, employee compensation, and has even flirted with the idea of developing its own cryptocurrency tokenization, “HunkCoin,” as a form of employee stock options.
18. This announcement came on the heels of increasing innovative businesses, such as Tesla, making similar announcements. Professional athletes, including the #1 NFL Draft Pick Trevor Lawrence, who accepted his entire NFL signing bonus of nearly $25 million in cryptocurrency, are continuing to request payment in the form of cryptocurrency.
19. Friedman added, “We recognize the financial independence crytocurrency investments are creating, and franchising is an ultimate way to lock that in for life. We pride ourselves on being tech-enabled, innovative, and disruptors of the moving and junk removal industry, as well as the franchise industry overall. The franchise industry is the largest creator of jobs in the country, and this will hopefully open up the opportunities to a new segment of prospective franchise owners who are looking for ways to diversify their cryptocurrency gains into an operating business that makes a positive impact.”
Company History
20. The idea for College Hunks Hauling Junk & Moving was born in 2003 when co-founder Omar Soliman spotted an opportunity to earn a little extra money to spend during his summer break from college in the Washington, D.C. area. Soliman noticed that many of his mother’s furniture store customers asked if she could haul their old furniture away. Many of these customers were willing to pay about $50 for this service and Soliman asked his mother if he could use her old cargo van to provide hauling services. Soliman enlisted the help of his best friend Nick Friedman and they came up with the name “College Hunks Hauling Junk” as a joke, but the name stuck.
21. That summer, Soliman and Friedman earned over $8,000. When they went back to school following their successful summer, Soliman learned that the University of Miami had just started the annual Rothschild Entrepreneurship Competition, which awarded a $10,000 prize to the best business plan. Soliman and Friedman developed a solid business plan based on their College Hunks Hauling Junk concept and they won the contest. Despite this early success, Soliman and Friedman decided to take traditional paths after graduating from college. However, they both felt unfulfilled and decided to give College Hunks Hauling Junk a real try.
22. The full-scale version of College Hunks Hauling Junk was a success and Soliman and Friedman began franchising in 2008. In 2016, College Hunks Hauling Junk opened its first international location in Edmonton, Alberta, Canada. The company also added moving services. Today, there are College Hunks Hauling Junk & Moving franchises all across North America.
Entrepreneur’s Franchise 500
23. College Hunks Hauling Junk & Moving ranked No. 325 on Entrepreneur’s 2021 Franchise 500 list.
Section II – Estimated Costs
- Please click here for detailed estimates of College Hunks Hauling Junk & Moving franchise costs, based on Item 7 of the company’s 2021 FDD.
Section III – Initial Franchise Fee, Royalty Fee, Marketing Fee, and Other Fees
- Please click here for detailed information on College Hunks Hauling Junk & Moving’s initial franchise fee, royalty fee, marketing fee, and other fees, based on Items 5 and 6 of the company’s 2021 FDD.
Section IV – Number of Franchised and Company-Owned Outlets
Franchised
2018
- Outlets at the Start of the Year: 97
- Outlets at the End of the Year: 102
- Net Change: +5
2019
- Outlets at the Start of the Year: 102
- Outlets at the End of the Year: 113
- Net Change: +11
2020
- Outlets at the Start of the Year: 113
- Outlets at the End of the Year: 128
- Net Change: +15
Company-Owned
2018
- Outlets at the Start of the Year: 2
- Outlets at the End of the Year: 2
- Net Change: 0
2019
- Outlets at the Start of the Year: 2
- Outlets at the End of the Year: 4
- Net Change: +2
2020
- Outlets at the Start of the Year: 4
- Outlets at the End of the Year: 3
- Net Change: -1
Section V – Financial Performance Representations (Item 19, 2021 FDD) and Analysis
- The following charts provide information regarding the annual gross sales, gross profit, profit margin, EBITDA, and certain expense and annual performance metrics for franchised outlets and outlets owned by the franchisor’s affiliates.
- These businesses (both franchised and affiliate-owned) provide substantially the same products and services as the Franchised Business offered in the Disclosure Document. Likewise, they receive substantially the same services as those the franchisor provides for the Franchised Business offered in the Disclosure Document, except the franchisor’s affiliates receive centralized accounting, financial, and management services.
- The charts below present information for only those outlets that responded to a survey or are a part of the franchisor’s bookkeeping program and were in operation for at least 12 full months as of the end of the applicable reporting period.
- This includes 90 franchised and 3 affiliate-owned outlets in 2020 (representing 70% (93/132) of all outlets in existence at the end of 2020).
- Note that 25 of these 132 locations were not surveyed because they were open less than 12 months in 2020. Therefore, the information includes 87% (93/107) of all outlets that were open a full 12 months in 2020.
- The franchisor’s affiliate CHHJ, LLC owns and operates the College Hunks Moving and College Hunks Hauling Junk business located in Rockville, Maryland (“DC Corporate Location”), which has been in operation since 2005 and currently provides junk removal and moving services in Washington, D.C. and Maryland (a total of 5 Zones).
- The franchisor’s affiliate Mansari, LLC owns and operates the College Hunks Moving and College Hunks Hauling Junk business located in Tampa, Florida (“Tampa Corporate Location”), which has been in operation since 2008 and provides junk removal and moving services in Tampa, Florida (a total of 3 Zones).
- These locations operate under a Franchise Agreement with College Hunks Hauling Junk and pay royalties, First Contact Sales & Loyalty Center fees, and Brand Development Fees on the same basis as franchisees.
- These operations are both “absentee owner” businesses, meaning they all have full-time general managers operating the business.
- Unless otherwise specified, “Gross Sales” or “Gross Revenue” means the actual gross revenues billed to clients or what would have been billed to clients if payment had been collected for products and services, plus any other revenue derived from the operation of the business.
- The Gross Sales/Gross Revenue information is based on the same Gross Sales used to calculate royalties and other fees under the Franchise Agreement.
- The franchised outlets and affiliate-owned outlets report gross receipts information to the franchisor based upon a uniform reporting system. However, none of the information supplied to the franchisor has been audited.
Part 1 – Annual Gross Sales, Gross Profit, and Gross Margin for Affiliate-Owned and Franchised Locations (2020)
- The DC Corporate Location provides both junk removal and moving services. It currently operates 5 Zones in Washington, D.C. and Maryland.
- The Tampa Corporate Location provides both junk removal and moving services. It currently operates 3 Zones in Tampa, Florida.
- The NJ North Corporate Location provides both junk removal and moving services. It currently operates 7 Zones in North New Jersey.
- Gross Profit is calculated as follows: Gross Revenue less disposal costs, truck labor costs, truck fuel costs, truck maintenance costs, credit card fees, moving supply cost, royalty fees, First Contact Sales & Loyalty Center fees, and Brand Development Fees but excluding fixed costs, such as rent, marketing, insurance, office staff, or other expenses related to the operation of the business.
DC Corporate Location (Actual)
- Annual Gross Sales: $5,134,209
- Disposal Costs (% of Revenue): 4%
- Truck Labor Costs (% of Revenue): 26%
- Truck Fuel Costs (% of Revenue): 2%
- Truck Maintenance Costs (% of Revenue): 2%
- Credit Card Fees (% of Revenue): 2.24%
- Moving Supply Cost (% of Revenue): 1%
- Total Cost of Service: $2,459,041
- Total Gross Profit: $2,675,168
- Gross Profit as % of Revenue: 52%
Tampa Corporate Location (Actual)
- Annual Gross Sales: $4,046,091
- Disposal Costs (% of Revenue): 1%
- Truck Labor Costs (% of Revenue): 28%
- Truck Fuel Costs (% of Revenue): 2%
- Truck Maintenance Costs (% of Revenue): 2%
- Credit Card Fees (% of Revenue): 2.34%
- Moving Supply Cost (% of Revenue): 2%
- Total Cost of Service: $1,969,520
- Total Gross Profit: $2,076,571
- Gross Profit as % of Revenue: 51%
NJ North Corporate Location (Actual)
- Annual Gross Sales: $1,730,401
- Disposal Costs (% of Revenue): 5%
- Truck Labor Costs (% of Revenue): 26%
- Truck Fuel Costs (% of Revenue): 2%
- Truck Maintenance Costs (% of Revenue): 2%
- Credit Card Fees (% of Revenue): 2.41%
- Moving Supply Cost (% of Revenue): 1%
- Total Cost of Service: $863,238
- Total Gross Profit: $867,163
- Gross Profit as % of Revenue: 50%
Franchised Location (Average)
- Number in Group: 90
- Annual Gross Sales: $1,311,775
- Median Annual Gross Sales: $1,037,467
- Highest Annual Gross Sales: $7,363,557
- Lowest Annual Gross Sales: $276,162
- Royalty Costs (% of Revenue): 7%
- Disposal Costs (% of Revenue): 4%
- Truck Labor Costs (% of Revenue): 29%
- Truck Fuel Costs (% of Revenue): 3%
- Truck Maintenance Costs (% of Revenue): 2%
- Credit Card Fees (% of Revenue): 2%
- Moving Supply Cost (% of Revenue): 1%
- Total Cost of Service: $667,150
- Average Total Gross Profit: $644,626
- Median Total Gross Profit: $509,267
- Highest Total Gross Profit: $4,030,598
- Lowest Total Gross Profit: $182,121
- Average Gross Profit as % of Revenue: 49%
- Median Gross Profit as % of Revenue: 49%
- Highest Gross Profit as % of Revenue: 73%
- Lowest Gross Profit as % of Revenue: 30%
Part 2 – Annual Gross Revenue, Gross Profit, Unit Expenses, and EBITDA for Affiliate-Owned and Franchised Locations (2020)
DC Corporate Location (Actual)
- Gross Revenue: $5,134,209
- Total Gross Profit: $2,675,168
- Gross Profit as % of Revenue: 52%
- Marketing Expense (local advertising): $645,341
- Office Staff Costs: $442,057
- Rent and Utilities Expense: $106,302
- Other Expenses (insurance, etc.): $231,137
- Total General and Administrative Expenses: $1,424,837
- Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA): $1,156,208
- Net Profit as % of Revenue: 23%
Tampa Corporate Location (Actual)
- Gross Revenue: $4,046,091
- Total Gross Profit: $2,076,571
- Gross Profit as % of Revenue: 51%
- Marketing Expense (local advertising): $526,075
- Office Staff Costs: $327,679
- Rent and Utilities Expense: $107,715
- Other Expenses (insurance, etc.): $199,443
- Total General and Administrative Expenses: $1,160,912
- Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA): $808,554
- Net Profit as % of Revenue: 20%
NJ North Corporate Location (Actual)
- Gross Revenue: $1,730,401
- Total Gross Profit: $867,163
- Gross Profit as % of Revenue: 50%
- Marketing Expense (local advertising): $110,721
- Office Staff Costs: $105,262
- Rent and Utilities Expense: $66,920
- Other Expenses (insurance, etc.): $92,223
- Total General and Administrative Expenses: $375,126
- Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA): $487,146
- Net Profit as % of Revenue: 28%
Franchised Location (Average)
- Gross Revenue: $1,311,775
- Total Gross Profit: $644,626
- Gross Profit as % of Revenue: 49%
- Marketing Expense (local advertising): $117,453
- Office Staff Costs: $126,812
- Rent and Utilities Expense: $42,140
- Other Expenses (insurance, etc.): $143,512
- Total General and Administrative Expenses: $429,917
- Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA): $214,708
- Net Profit as % of Revenue: 16%
- “Total General and Administrative Expenses” includes marketing expense, office staff costs, rent and utilities expense, and other expenses (including insurance, etc.).
- “EBITDA” stands for earnings before interest, taxes, depreciation, and amortization, and does not include truck payments, owner compensation, or other discretionary expenses.
- “Net Profit” is the profit before taxes, interest, depreciation, and amortization, and owners’ compensation.
Part 3 – Average Annual Performance Metrics for Junk Only vs. Junk & Moving Franchises
- The information presented is based on franchised outlets that were in operation for a full 12 months as of December 31, 2020. As of the date of the current Disclosure Document, there are no franchised outlets that provided only moving services.
- The average Designated Territory operated by franchisees is comprised of two standard Zones.
All Franchised Locations (Average)
- Number in Group: 90
- Annual Gross Revenues: $1,386,780
- Annual Junk Revenues: $616,743
- Annual Moving Revenues: $770,789
- Annual Other Revenue (labor, scrap, supply, valuation): $50,338
- Average Job Size: $497
- Average Job Size – Junk Removal: $346
- Average Job Size – Moving: $866
- Average Number of Completed Jobs Per Day (assumes 300 operating days in 2020): 9.3
- Average Number of Unique Leads Per Day (assumes 300 operating days in 2020): 23
- Lead Conversion to Sale %: 40%
- Average Completion %: 75%
- Average Cost Per Lead Based on Average Marketing Expense: $18.24
- Average Marketing Expense: $127,451
- Average Leads: 6,986
Franchised Junk Removal Only (Average)
- Number in Group: 9
- Annual Gross Revenues: $789,724
- Annual Junk Revenues: $788,573
- Annual Moving Revenues: $8,927
- Annual Other Revenue (labor, scrap, supply, valuation): $24,631
- Average Job Size: $389
- Average Job Size – Junk Removal: $391
- Average Job Size – Moving: $0
- Average Number of Completed Jobs Per Day (assumes 300 operating days in 2020): 6.8
- Average Number of Unique Leads Per Day (assumes 300 operating days in 2020): 17
- Lead Conversion to Sale %: 41%
- Average Completion %: 70%
- Average Cost Per Lead Based on Average Marketing Expense: $14.37
- Average Marketing Expense: $71,635
- Average Leads: 4,985
Franchised Move Only (Average)
- Number in Group: 2
- Annual Gross Revenues: $716,675
- Annual Junk Revenues: $11,169
- Annual Moving Revenues: $705,506
- Annual Other Revenue (labor, scrap, supply, valuation): $15,829
- Average Job Size: $581
- Average Job Size – Junk Removal: $0
- Average Job Size – Moving: $627
- Average Number of Completed Jobs Per Day (assumes 300 operating days in 2020): 4.1
- Average Number of Unique Leads Per Day (assumes 300 operating days in 2020): 13
- Lead Conversion to Sale %: 32%
- Average Completion %: 90%
- Average Cost Per Lead Based on Average Marketing Expense: $18.29
- Average Marketing Expense: $71,568
- Average Leads: 3,912
Franchised Junk Removal and Moving (Average)
- Number in Group: 79
- Annual Gross Revenues: $1,386,316
- Annual Junk Revenues: $567,814
- Annual Moving Revenues: $818,502
- Annual Other Revenue (labor, scrap, supply, valuation): $52,102
- Average Job Size: $505
- Average Job Size – Junk Removal: $337
- Average Job Size – Moving: $868
- Average Number of Completed Jobs Per Day (assumes 300 operating days in 2020): 9.2
- Average Number of Unique Leads Per Day (assumes 300 operating days in 2020): 23
- Lead Conversion to Sale %: 40%
- Average Completion %: 75%
- Average Cost Per Lead Based on Average Marketing Expense: $17.90
- Average Marketing Expense: $123,835
- Average Leads: 6,917
DC Corporate Location (Actual)
- Number in Group: 1
- Annual Gross Revenues: $5,134,209
- Annual Junk Revenues: $3,184,766
- Annual Moving Revenues: $1,949,447
- Annual Other Revenue (labor, scrap, supply, valuation): -$4
- Average Job Size: $554
- Average Job Size – Junk Removal: $459
- Average Job Size – Moving: $912
- Average Number of Completed Jobs Per Day (assumes 300 operating days in 2020): 30.9
- Average Number of Unique Leads Per Day (assumes 300 operating days in 2020): 87
- Lead Conversion to Sale %: 35%
- Average Completion %: 66%
- Average Cost Per Lead Based on Average Marketing Expense: $24.63
- Average Marketing Expense: $645,341
- Average Leads: 26,200
Tampa Corporate Location (Actual)
- Number in Group: 1
- Annual Gross Revenues: $4,046,091
- Annual Junk Revenues: $1,303,099
- Annual Moving Revenues: $2,742,992
- Annual Other Revenue (labor, scrap, supply, valuation): $0
- Average Job Size: $484
- Average Job Size – Junk Removal: $276
- Average Job Size – Moving: $771
- Average Number of Completed Jobs Per Day (assumes 300 operating days in 2020): 27.8
- Average Number of Unique Leads Per Day (assumes 300 operating days in 2020): 61
- Lead Conversion to Sale %: 46%
- Average Completion %: 82%
- Average Cost Per Lead Based on Average Marketing Expense: $28.87
- Average Marketing Expense: $526,075
- Average Leads: 18,221
NJ North Corporate Location (Actual)
- Number in Group: 1
- Annual Gross Revenues: $1,730,401
- Annual Junk Revenues: $892,451
- Annual Moving Revenues: $837,950
- Annual Other Revenue (labor, scrap, supply, valuation): $0
- Average Job Size: $687
- Average Job Size – Junk Removal: $509
- Average Job Size – Moving: $1,193
- Average Number of Completed Jobs Per Day (assumes 300 operating days in 2020): 8.4
- Average Number of Unique Leads Per Day (assumes 300 operating days in 2020): 21
- Lead Conversion to Sale %: 41%
- Average Completion %: 75%
- Average Cost Per Lead Based on Average Marketing Expense: $17.91
- Average Marketing Expense: $110,721
- Average Leads: 6,182
Part 4 – Average Annual Gross Sales Based on Number of Years in Operation as of December 31, 2020
1st Full Calendar Year
- Number in Group: 15
- Average Annual Gross Sales: $648,393
- Median Annual Gross Sales: $679,561
- Highest Annual Gross Sales: $1,118,963
- Lowest Annual Gross Sales: $289,542
2nd Full Calendar Year
- Number in Group: 7
- Average Annual Gross Sales: $1,161,903
- Median Annual Gross Sales: $1,229,714
- Highest Annual Gross Sales: $1,819,235
- Lowest Annual Gross Sales: $606,098
3rd Full Calendar Year
- Number in Group: 14
- Average Annual Gross Sales: $986,958
- Median Annual Gross Sales: $884,858
- Highest Annual Gross Sales: $2,222,855
- Lowest Annual Gross Sales: $175,050
4th Full Calendar Year
- Number in Group: 19
- Average Annual Gross Sales: $1,432,078
- Median Annual Gross Sales: $1,204,803
- Highest Annual Gross Sales: $4,453,812
- Lowest Annual Gross Sales: $313,353
>4th Full Calendar Year
- Number in Group: 35
- Average Annual Gross Sales: $1,690,677
- Median Annual Gross Sales: $1,149,120
- Highest Annual Gross Sales: $7,363,557
- Lowest Annual Gross Sales: $431,481
Part 5 – 2020 Ramp-Up Data for New Locations
- The following table represents the monthly income of franchise locations in operation for less than 24 months as of December 31, 2020.
- As of December 31, 2020, there were 43 franchise locations in operation for less than 24 months.
1st Month
- Average: $24,329
- Median: $22,779
- Highest: $61,669
- Lowest: $4,674
6th Month
- Average: $47,602
- Median: $51,200
- Highest: $99,184
- Lowest: $12,608
12th Month
- Average: $49,032
- Median: $46,235
- Highest: $88,861
- Lowest: $16,182
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