Hey Empire Builders,

Welcome to this week’s Franchise Empire Newsletter, where we share specific franchise opportunities that we think are interesting, and examples of everyday folks building their empires.

Today, in 5 minutes or less:

✔ Tech Franchise with Top Franchisee doing $16.1Million in Revenue

✔ Resale with 2023 Revenue of $2.57M with very well known brand

✔ Operations director buys painting franchise after company shuts down

✔ 14 HUGE Mistakes to Avoid When Buying a Franchise

Join Our Franchise Buyers Beta Course for
Aspiring Franchise Owners

Franchise resales possess many benefits for aspiring business owners – established cash flow, experienced employees, systems in place, and brand awareness to name a few. 

This week, our featured resale comes from College Hunks Hauling Junk and Moving. Established in 2004, College Hunks now has 219 franchise units throughout the United States and Canada. College Hunks is a junk removal and full service local moving franchise. They also offer labor services, storage solutions, donation pickups, real estate, property management assistance and more.

• Started in 2018

• Asking price of $947,420

• 2023 revenue of $2.57M

• 2 territories included

• Crews and office staff established

• Owner needs to sell due to personal / health issues

• According to the 2023 FDD, the AUV for single-territory locations was $749,177, and for 3-territories or more, the AUV was $2.87M.

• In House Call Center – College Hunks has a corporate call center that answers all inbound calls and will give a majority of the estimates over the phone to your customers. For larger houses, you’ll send a salesperson to give a more detailed estimate.

• Multiple Revenue Streams – you can service both residential and commercial in both moving and junk hauling capacities.

Patrick was the Operations Dir for a start up company who did consulting for high net worth families. The company was shutting down and he wanted to continue the business ownership feel he had at the start up. He was doing a lot of the day to day of that business and was looking forward to owning something himself.

Previously he had worked in non-profits and was very comfortable with sales. He really valued his time with wife, kids and baby on the way. His wife worked FT which gave him the runway to go FT into a franchise. He ended up purchasing a painting franchise as he was impressed with the systems/software they had to operate the franchise and loved the family-like feel he got from leadership.

Congratulations Patrick!

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• Started in 2004 in Mission Viejo, California

• Started franchising in 2005

• In addition to the US, TeamLogicIT also has locations in Canada and Puerto Rico

• Parent company is Franchise Services, Inc.

• Corporate Owned Territories: 0

• Franchise Units: 282

• Franchise Fee: $49,500

• Royalty: 7%

• National Marketing Fee: 1.2% (waived the first year)

• Total Investment Range: $106,865 – $141,342

• Term: 10 years
  **Numbers according to their FDD released on March 29, 2024.

TeamLogic IT offers an information technology business providing outsourced IT managed services targeted to small and medium-sized businesses via onsite qualified technicians. You will proactively work with your clients to help determine if they have the correct IT equipment to properly meet their current and future needs, and will partner with your clients on a reactive basis to help them repair their IT equipment and services when the systems fail. As an owner, you will hire technicians to serve your customers. You will reach out to potential customers, learn about their businesses and offer technology solutions that will make their businesses more efficient, secure and profitable.

Below tables taken from the TeamLogic IT 2024 Franchise Disclosure Document – Item 19, page 29.

Benefits for the Franchisee:

• Predictable, Recurring Revenue – You’re not just waiting for things to break. Most clients are on a monthly contract – typically about $150 per month for each employee the company has on payroll.

• Multiple Revenue Streams – In addition to the IT managed services, you can also provide data backup and recovery services, computer assessment and purchasing, installation of systems, email management and troubleshooting.

• 24/7 Help Desk – You’ll have an outsourced department that is available 24/7 to answer any questions for your customers if you can’t be available or it’s outside of regular business hours.

• No Tech Experience Needed – You do not need to know how to fix IT problems. All you need to be able to do is sell, provide great customer service, hire and manage technicians well. Your techs will be highly skilled and compensated well for their skills. The corporate training will give you the right experience to be able to intelligently speak with your customers.

• Highly Scalable – Once your first tech is getting too busy to manage your existing accounts you’ll hire a second, third and so forth, while simultaneously going out there and signing up more customers.

Episode #76: These 14 Franchise Buying Mistakes Will F*ck Up Your Investment

Although franchising is the most proven business model in history…with over 4,000 brands there are bound to be someone’s you need to stay away from.

In this video we’ll dive into 14 HUGE mistakes you need to avoid when buying a franchise, or even considering if you should buy a franchise.

These are the sort of tips that help you reduce your risk, and protect yourself so you can make the right decisions and find the best franchise for you.

Sit back, take some notes, and enjoy the show.

Watch on YouTube

Listen on Podcast Platforms

That’s a wrap for this week’s Franchise Empire newsletter. 

Feel free to reply with any questions, or feedback. I appreciate and value your time and attention.

I’ll see you at the same time next week!

-Tariq and The Franchise Empire Team

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