Meet Nick Boariu - 2020 Seminole 100 Honoree and SBEP Graduate
Combining their passion for entrepreneurship, franchising and retail experience, Nick Boariu, and his business partners, Marc Douglas Sr. and Marc Douglas Jr., saw an opportunity to expand the textile recycling industry through a franchise model after being connected by a mutual friend.
From what started as an idea, in a niche market that hadn’t expanded yet, Clothes Bin's first franchisee opened in 2016 in Dallas, Texas. Clothes Bin operates recycling bins where people can deposit used clothing, shoes and textiles. The bins are placed in commercial parking lots and schools, and are equipped with technology that allows franchisees to monitor them remotely using the company’s proprietary app.
“Clothes Bin was very unique from the start,” said Boariu, chief operating officer of Clothes Bin. “It was a cool opportunity because it is the first and only textile recycling franchise in the industry which in turn created its own challenges and its own rewards.”
Since its inception, the company now has franchisees operating in 15 states. Boariu, an FSU College of Business graduate, attributes FSU and his participation in the Jim Moran Institute for Global Entrepreneurship’s Broward County Small Business Executive Program (SBEP) as being instrumental building blocks in growing his organization and career.
“The collaboration, structure and professionalism between the participants, sessions and speakers in the SBEP program is fantastic,” Boariu explains. “We all had similar issues we were facing but were also in a variety of industries, so one of my biggest takeaways was being able to get advice and tips from an assortment of diverse small business owners.”
The Broward SBEP program consists of nine sessions, each focusing on a particular aspect of growing and managing a small business. The program is designed for CEOs, entrepreneurs, business owners, presidents and executive directors looking to grow their small businesses.
“We are thrilled that FSU has recognized Nick and Clothes Bin for its tremendous success and growth. In working with Nick while he participated in our Executive Program it was easy to see his passion for his business. His commitment is evident through this prestigious honor,” said Jennifer Kovach, director of the Jim Moran Institute’s South Florida Operations.
Boariu and Clothes Bin were recently ranked #1 on the Jim Moran Institute’s 2020 Seminole 100 list. This prestigious list recognizes the 100 fastest-growing FSU alumni-owned or alumni-led businesses who are responsible for some of the most innovative and profitable companies in America.
“When I applied for the Seminole 100, I really was just hoping to make the list. I really had no inclination going into that night that we would win, so it ended up being so rewarding having my family, friends and business partners there with me to celebrate this win and show them my alma mater,” Boariu explained. “The attention to detail, along with the venue, ambiance and band were great. It’s a night that myself and guests will never forget.”
Applicants are eligible for the Seminole 100 if they are an alumni of FSU, have ownership in their company, and have held a C-suite position in the company for three years prior to nomination. Seminole 100 financial partner, EY, verifies the revenue information from each company and ranks the businesses based on their compound annual growth rate.
“We are so proud to recognize Clothes Bin as the #1 fastest growing company on the Seminole 100 list,” said Melissa Roberts, managing director of the Jim Moran Institute. “Nick’s success is a testament to the innovative and entrepreneurial spirit fostered by the Jim Moran Institute and FSU.”
Boariu is currently participating in the Jim Moran Institute’s Broward County CEO Peer2Peer Group. To be eligible to participate in this group, an applicant must have graduated from either a SBEP program or a Nonprofit Executive Program.
“Participating in the CEO Peer2Peer groups has been extremely beneficial and an amazing resource especially during the COVID-19 crisis,” Boariu said. “It’s the third program I have been able to be a part of under the Jim Moran Institute umbrella, which is incredible and really elevates your success through the Jim Moran Institute and its programs.”
About the Jim Moran Institute for Global Entrepreneurship
The Jim Moran Institute for Global Entrepreneurship cultivates, trains and inspires entrepreneurial leaders through world-class executive education, applied training, public recognition and leading-edge research. Jim Moran was an automotive pioneer and an entrepreneur at heart, who at the age of 7, sold soda pop at sandlot baseball games in Chicago. With a career that spanned more than six decades, he built an amazing chronicle of achievements in the automobile industry. His vision for the Jim Moran Institute was to provide opportunities that would help others become more successful business owners. A 1995 contribution from Jim and Jan Moran and JM Family Enterprises established the Jim Moran Institute for Global Entrepreneurship at the Florida State University College of Business. Since 2011, further enhancements to the Jim Moran Institute and its outreach have been made possible by Jan Moran and The Jim Moran Foundation.
About Seminole 100
Seminole 100 recognizes the 100 fastest-growing FSU alumni-owned or alumni-led businesses at a celebration on FSU's campus each year, during which each company learns their numerical ranking and receives their award. This event honors FSU's entrepreneurs and allows them to share valuable business insights with each other. Honorees and their businesses also receive increased publicity and visibility via national, local and industry media exposure.