Can you buy a franchise with Bitcoin?

Bitcoin

College HUNKS Hauling Junk & Moving® embraces cryptocurrency

College HUNKS Hauling Junk & Moving is the first franchise to accept Bitcoin and Ethereum as payment for its franchise fee. According to Businesswire.com, the up-front franchise fee for the combined junk and moving franchise is $60,000, which today would equate to approximately one Bitcoin or approximately 15 Ethereum. Nick Friedman, the co-founder of College HUNKS, explains that “Coming out of the pandemic, College HUNKS has experienced similar exponential growth to Bitcoin and Ethereum, growing nearly 100 percent and is on pace to do over $200 million in sales this year.”

“We recognize the financial independence cryptocurrency investments are creating, and franchising is an ultimate way to lock that in for life.”

Nick Friedman, College Hunks co-founder

With this growth occurring, College HUNKS hopes to continue evaluating Blockchain and cryptocurrency innovations for additional service options, such as client moving, junk removal services, and employee compensation, in the future. The company has even considered developing its own cryptocurrency called ”HunkCoin,” as a form of employee stock options. “We recognize the financial independence cryptocurrency investments are creating, and franchising is an ultimate way to lock that in for life,” states Friedman. “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.”

Cryptocurrency, in simple terms, is a digital currency. It is secured by cryptography, which makes it impossible to duplicate. It’s also a peer-to-peer technology, which means that no central bank or government regulates it. This is helpful because it cuts out the traditional middleman in any transaction. Benefits for franchisors like College HUNKS range from lower transaction costs and increased sales. The decentralized nature of cryptocurrency caters to consumer preferences and merchant protection.

College HUNKS Hauling Junk & Moving’s humble beginnings started in 2003 with two college buddies and a beat-up cargo van. Co-founders Nick Friedman and Omar Soliman have grown the brand to more than 150 franchises that provide full-service, tech-enabled residential and commercial moving, junk removal, donation pickups, and labor services in the United States as well as Canada.

With a mission to “Move the World,” Soliman and Friedman aim to eliminate stress for people who are moving or dealing with clutter, while creating opportunities for entrepreneurs. To achieve this, they built teams that are professional, pay attention to their customers, take responsibility for their work, and create a fun and enthusiastic environment while doing so. They created a brand rooted in the values of Honest, Uniformed, Nice, Knowledgeable, and Service, thus the acronym HUNKS, and staffed a highly successful corporate team with diverse backgrounds and extensive experience.

College HUNKS has always prided itself on being tech-enabled, and with the recent acceptance of cryptocurrency, they have taken the next step in that evolution.

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Isabella Stier is a freelance writer who has a love for storytelling and entrepreneurship. She contributes to FranchiseWire.com and entrepreneurship-interviews.com, reporting on industry news and franchise trends.

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