Asking Price: $285,000 Gross Revenue: $714,426Cash Flow: Not DisclosedEBITDA: Not DisclosedInventory: $70,000 not included in asking priceFF&E: Not Disclosed included in asking priceShare this business:
Explanation of Financial Terms
The total asking price of the business for sale.
All income the business received before any cost-of-sales or expenses have been deducted.
Arrived at by "starting with your net (before tax) profit. Then, add back in any payments made to the owner, interest and any depreciation of assets." For example, if the net profit before taxes was $100,000 and the owner was paid $70,000 then the cash flow is $170,000.
Earnings Before Interest, Taxes, Depreciation and Amortization.
The value of the merchandise, raw materials, and finished and unfinished products which have not yet been sold. If there is no inventory price listed then the seller did not provide it.
Furniture, fixtures and equipment that will remain with the business, such as desks, office cubicles, decor elements of a restaurant or showroom, computers and office machines, pots and pans, dishes, display cases, manufacturing equipment, etc., depending on the type of business.
The value of property owned by the business. May be included in the asking price or offered separately. If no real estate value is listed, it was not provided by the seller.
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
Number of Employees:
Building Sq. Ft.:
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.
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.
Multi-unit owners downsizing long distance operations
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.
The information on this listing has been provided by either
the seller or a business broker representing the seller. BizQuest has no interest
or stake in the sale of this business and has not verified any of the information
and assumes no responsibility for its accuracy, veracity, or completeness. See our
full Terms & Conditions.