College Foxes Packing Boxes Net Worth
College Foxes Packing Boxes Net Worth is an American franchise company offering organizational services. Specializing in junk removal, moving and storage solutions as well as helping its clients organize their homes and offices, its headquarters are in Tampa Florida where its business model utilizes professional organizers trained to provide exceptional service while improving lives of their clients. College Foxes also stands out as a socially responsible organization by offering free moves for domestic violence survivors.
Nick Friedman and Omar Soliman made an appearance on Shark Tank season one episode one seeking $250,000 investment for their new business venture College Foxes Packing Boxes, a spinoff from College Hunks Hauling Junk which employed college students for junk removal services. To secure such an investment they asked for 25% stake of the company in return; their valuation at that time was around $1 Million.
At first, the sharks were skeptical of College Foxes Packing Boxes concept. After seeing how its founders bootstrapped their junk removal firm from one cargo van to a multimillion-dollar enterprise, however, they decided to give the concept another chance and were confident of replicating its success with another venture.
The sharks disagreed over how to value a new business venture, yet ultimately no agreement could be made. Kevin O’Leary offered to invest $250,000 for 51% ownership, but their founders declined this offer due to losing control over their established brand name. None of the other sharks could match Kevin’s valuation and left negotiations early.
Daymond John proposed offering $250,000 in exchange for 30% of College Foxes Packing Boxes; however, his proposal required Nick and Omar to give up 5% of College Hunks Hauling Junk shares as part of that transaction; an unattractive prospect which led them to decline this offer and instead focus on growing College Hunks Hauling Junk rather than trying to make College Foxes Packing Boxes successful.
College Hunks has since expanded and thrived across the US. Now boasting more than 160 locations and an annual revenue of $200 Million, College Hunks also works with domestic violence shelters by offering its services for free.
The Shark Tank television show is an entrepreneurial competition where budding entrepreneurs pitch their business ideas to an expert panel of investor “sharks.” It has proven immensely helpful in getting many startups up and running successfully; with each Shark judging each pitch in his/her own unique fashion. Produced by Mark Burnett Productions and airing on ABC. For more information about the program visit their official website.