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Fredericksburg, Virginia (Fredericksburg city Co.)   |  Businesses for Sale Between $250k and $500k

Asking Price:
$350,000

Gross Revenue:
$835,379
Cash Flow:
 Not Disclosed
EBITDA:
 Not Disclosed
Inventory:
$85,000
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 Fredericksburg opened in 2005 and has performed solidly over the entire 12 years. Located in highly-desired Central Park are of Fredericksburg, this store benefits from a great location with lots of foot traffic. The owners are multi-unit franchisees looking to downsize their long distance operations. Along with Fredericksburg, the owners have made their Charlottesville 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:
2005
Number of Employees:
11
Franchise:
Yes
Real Estate:
Leased
Building Sq. Ft.:
4,402
Lease Amount/Mo.:
$8,325.65
Lease Expiration:
7/31/2021
Facilities:
4,400 SF store located in the shopping hotspot in Fredericksburg, Virginia, Central Park is the largest center on the east coast with more than 200 retailers. The center features a Regal Cinema, state-of-the-art Sport and Health club, fashion retailers like Ann Taylor Loft, Talbots and DSW Shoes, and an abundance of restaurants including; Bonefish, The Melting Pot and Carrabba’s Italian Grill.
Website:
www.platosclosetfredericksburg.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:
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. The current staff will continue to improve with more experience. Just keep working with the staff on buying great merchandise from the customers, maintain a strong social media presence and 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:
1452819
Ad Detail Views:
28

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Business Listed by

Pete First

Winmark Corporation

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U.S. Census Data for Spotsylvania, Stafford and Fredericksburg city Counties, VA
Age

Gender

Ethnicity

Source: Decennial Census (2010), United States Census Bureau.

This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.

U.S. Community Survey Data for Spotsylvania, Stafford and Fredericksburg city Counties, VA
Income

Education

Source: American Community Survey (2010-2014), United States Census Bureau.

This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.


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