Whatever Happened To College Foxes Packing Boxes After Shark Tank?
Moving can be a tall order for all involved, but one pair of entrepreneurs hopes to change the experience forever. Their brand, College Foxes Packing Boxes, has young women visit clients' homes and help them with moving household items, junk removal, and similar tasks. Foxes stems from the moving company College Hunks Hauling Junk, which had already proven itself a successful venture.
University of Miami schoolmates Nick Friedman and Omar Soliman started College Hunks as a summer gig to earn some extra cash. It gained a surprising amount of traction in a short period, encouraging the duo to pursue it further as a full-time business. They entered their concept into a business planning contest held by their school and it won the top $10,000 prize, beating out 150 other contestants. Within six years, the company employed over 200 individuals and expanded to 35 franchise locations. College Hunk and its founders started seeing widespread recognition, getting featured on such notable platforms as Entrepreneur Magazine and Inc. Magazine.
What happened to College Foxes Packing Boxes on Shark Tank?
Nick Friedman and Omar Soliman made their "Shark Tank" debut on the hit show's inaugural episode in 2009. They seek a $250,000 investment for 25% of College Foxes Packing Boxes. The co-founders share their prior success with College Hunks Hauling Junk as well as their recent placement on Inc. Magazine's Top 30 Entrepreneurs in America under 30. Their intent with the investment is to improve their software, marketing, and communication systems.
The Sharks are confused as to why College Hunks is not part of the offer given its proven traction, as the business made $500,000 in net profits alone in 2008. Kevin O'Leary proposes $250,000 but wants a 51% equity stake. Before they can answer, Robert Herjavec allows them to go back out and rework their pitch to include College Hunks as part of the offer. After some deliberation, the duo comes back in, stating that they can't give up any piece of College Hunks for such a small amount. They counter with $1 million for 10% equity, valuing their company at $10 million.
Unsurprisingly, the sharks go into a frenzy, with the opinionated O'Leary proclaiming, "You know why you're wearing those ties? You're pigs. Pigs get slaughtered." He goes out, followed soon after by Daymond John, who has issues with the ethics of using women in such a way. Kevin Harrington and Barbara Corcoran also exit, feeling that Friedman and Soliman are placing value on what the business will be worth in the future. Herjavec offers to take 50% of College Foxes but also wants 10% of Hunks just in case Foxes doesn't work out. Following some failed renegotiations, they decline Herjavec's proposal and exit.
College Foxes Packing Boxes after Shark Tank
The Sharks aren't always right with their predictions but in the case of College Foxes Packing Boxes, the celebrity investors were right on the money. In a Reddit AMA, one of the co-founders of College Hunks Hauling Junk was asked as to what the outcome of Foxes was, to which they answered, "Good question.. we decided to put the nix on that business. Great name just not very viable in the real world... " Despite this, the co-owner stated that the name may be fitting for a clothing brand one day.
Nevertheless, the team was grateful for their experience on the show. Co-founder Nick Friedman spoke with Million Dollar Money about his "Shark Tank" experience, expressing how the series aided in getting College Hunks noticed. "For a while, our brand was actually bigger than our business because of some of the publicity and media coverage that we had gotten in those early days," Friedman said. "But if we hadn't set that bar ... then we wouldn't have been able to chase it down to actually make the business catch up to it."
Why did College Foxes Packing Boxes go out of business?
It doesn't take much brainpower to see why College Foxes Packing Boxes didn't last very long. On Million Dollar Money, co-founder Nick Friedman revealed that Foxes was somewhat of a last-minute idea the team came up with after hearing about "Shark Tank." "At the time, we weren't really looking to raise capital for College Hunks because it was self-sustaining," he shared. "We used to joke about a sister company we were going to call it 'College Foxes Packing Boxes' and it was going to be a female counterpart to the 'Hunks.'" Unsurprisingly, a joke doesn't make for the strongest foundation to go off when starting a business.
It goes without saying, but the idea is blatantly sexist. Using conventionally attractive women as a sales gimmick paints an uncomfortable and immediately dated image of what the brand stands for, which would have only worsened as time went on. As a business, Foxes had little to offer. While College Hunks Hauling Junk had readily proven its value, its founders had no proof that the Foxes concept could sell, thus giving the investors all the right to be skeptical. In the end, College Foxes Packing Boxes quite literally offered nothing of value other than acting as a reminder of the more eccentric businesses from early "Shark Tank" seasons.
What's next for College Foxes Packing Boxes' founders?
College Foxes Packing Boxes may not have had an especially long lifespan following its "Shark Tank" debut, but its parent company only continued to prosper. College Hunks Hauling Junk remains a thriving business to this day, with over 150 operating locations across the United States and $200 million in annual revenue.
The venture continues racking up accolades and recognition. It was included on the Entrepreneur 2023 Top Franchise for Veterans list, Forbes' September 2023 Best Junk Removal Companies list, and the Inc. 5000 list in Logistics & Transportation. Co-founders Nick Friedman and Omar Soliman were given the highest honor from the International Franchise Association by being named the 2023 Entrepreneurs of the Year.
In 2011, the two started the valet trash service Trash Butler. Over the years, it became another trusted brand, servicing more than 150,000 multi-family communities across the United States. The duo even started working in the entertainment industry. In 2023, they worked on the biopic "Bezos," which sees Soliman as an executive producer and Friedman star as the Amazon founder's first employee, Shel Kaphan.