Established Business For Sale - Be Your Own Boss

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Asking Price:
$285,000

Gross Revenue:
$714,426
Cash Flow:
 Not Disclosed
EBITDA:
 Not Disclosed
Inventory:
$70,000
not included in asking price

FF&E:
 Not Disclosed

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Business Description

ABOUT OUR STORE:
Own a well-established teen and young adult resale clothing and accessory store! Plato's Closet of Charlottesville opened in 2006 and has been a solid performer since day 1. Located in the Rio Hall section of Charlottesville, this store benefits from being in a great location with lots of foot traffic. The owners are multi-unit franchisees looking to downsize their long distance operations. Along with Charlottesville, they've made the Fredericksburg Plato's Closet location available as well.

ABOUT PLATO'S CLOSET:
As the established leader in the teen resale-retail space, Plato’s Closet offers gently-used, brand-name apparel and accessories to both girls and guys at a fraction of the retail cost. With nearly 440 locations and more opening every month, Plato’s Closet is the fastest growing franchise in the teen retail space.

As a brand, Plato’s Closet was ranked the #1 Retail Franchise Investment in the $150,000 - $500,000 range by Forbes for the last two years and has been #1 in it's category in Entrepreneur's Franchise 500 on an annual bases. The system wide sales average across nearly 440 stores is just under $1M. The business and financial model for this brand is unparalleled.

About the Business

Year Established:
2006
Number of Employees:
15
Franchise:
Yes
Real Estate:
Leased
Building Sq. Ft.:
4,040
Lease Amount/Mo.:
$6,269.24
Lease Expiration:
10/1/2019
Facilities:
4,040 SF space located in the Rio Hill Shopping Center at the intersection of Seminole Trail (US Route 29) and Woodbrook Drive, in Charlottesville, Virginia. We're perfectly situated approximately 3 miles north of the University of Virginia. The center was built in 1988 and the landlord has been great to work with over the years. The center is anchored by Kroger, Dick’s Sporting Goods, TJ Maxx and Crutchfield. There is a nice mix of national, regional and local tenants including Springleaf, Dollar Tree, Hair-Cuttery, Hertz, JoAnn Fabrics, Rack Room Shoes and Sally Beauty.
Website:
www.platosclosetcharlottesville.com
Market Outlook/
Competition:
There are no significant competitors in the immediate area. While there are value and discount retailers in the market, no one is able to compete with Plato's Closet's value by paying our customers cash on the spot for their gently used clothing.
Growth & Expansion:
New staff in place has developed quite nicely despite not having a full-time ownership on site. The biggest impact a new owner can have on top line sales is with a local, full-time presence and a hands on management approach to build relationships with customers and staff. Just keep buying great merchandise from the customers and maintain a strong social media presence, there will be plenty of opportunity for sales growth.
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About the Sale

Reason For Selling:
Multi-unit owners downsizing long distance operations
Training/Support:
Training required and provided by franchisor upon transfer. Additional ongoing support includes marketing and advertising, merchandising, inventory and financial management. New product buying group for great pricing on new equipment and freight charges. Ongoing educational and support opportunities through field staff, conferences, trade shows and more.

Listing Info

ID:
1452810
Ad Detail Views:
28

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Business Listed by

Pete First

Winmark Corporation

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U.S. Census Data for Albemarle and Charlottesville city Counties, VA
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Source: Decennial Census (2010), United States Census Bureau.

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U.S. Community Survey Data for Albemarle and Charlottesville city Counties, VA
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Source: American Community Survey (2010-2014), United States Census Bureau.

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