TAMPA, Fla., July 21, 2009 — Many college undergrads and recent grads are contemplating whether to obtain an MBA. While often viewed as a career accelerator, an MBA does require major commitments of money and time.
Usually, there are four determining factors: cost, time involved, return on investment and job market. But, now there’s a fifth consideration: get an MBA or spend the same amount of money to purchase a franchise?
To pay for an MBA, most people work part-time at low wages while enrolled, deplete their personal or parents’ savings, and obtain student loans that must be repaid. However, going the franchise route can provide a fast and lifetime income that often exceeds the income of those with MBAs.
After getting laid off from his job as a television producer in New York, 26-year-old Dan Ryan considered getting his master’s degree. He then weighed his options.
“I’d spend the same amount of money furthering my education as I would to open a franchise,” said Ryan. “If I got my master’s degree it wouldn’t guarantee a job, especially in today’s job market.”
Ryan and his business partner, 25-year-old Patrick Lipa, opened a College Hunks Hauling Junk franchise in Detroit in April. Both are already very pleased with the results.
“I’m not saying, ‘don’t get a master’s degree.’ But, I did the research and made the best educated decision for me,” Ryan said. “Opening the franchise will show a better return on my investment in the long-run.”
According to Nick Friedman, president of College Hunks Hauling Junk, several of his franchise owners are recent college graduates, which is not the typical franchise owner profile.
“Rather than spending $95,000 and two years getting an MBA, more and more people are using the money to open a franchise,” said Friedman. “And, in less than two years they own a cash-producing asset.”
Friedman and his business partner, Omar Soliman, brought a clean-cut image to junk removal by recruiting college students to haul away customers’ unwanted items. The temporary summer gig started in 2005 has grown into a multi-truck, multi-million-dollar franchise operation with locations across the country.
“Franchising allows people to go into business for themselves but not by themselves,” Friedman said. “It offers a much more secure method of entrepreneurship.”
New franchisees get five days of training at “Junk University” in Tampa to learn every aspect of the business. The company focuses on branding, marketing, community involvement and recycling efforts.
Just like college, parents can invest in their child’s future by helping fund the business. Ryan and Lipa’s parents helped their sons by co-signing the loan for the franchise.
“This is a great business,” said Ryan. “It’s fun, you do a lot for the community and can make a great deal of money if you follow the formula.”
For more information, call 1-800-JUNK-USA or visit http://www.1800junkusa.com.
For more information, please contact:
Nick Friedman, President
College Hunks Hauling Junk
4836 West Gandy Blvd.
Tampa FL 33611
202-306-1068
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