Existing Plato&#39;s Closet Franchise For Sale!
Asking Price: $150,000 Gross Revenue: $277,000Cash Flow: Not DisclosedEBITDA: Not DisclosedInventory: $50,000 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.
Plato's Closet is the #1 franchise in it's category according to Entrepreneur Magazine's franchise 500. Plato's Closet Bountiful, UT has excellent growth potential. The system wide sales average across more than 475 stores is over $1M.
The current owners have too many commitments and not enough time is dedicated to the day to day operations of this business. The new owner has a wonderful opportunity to start fresh by implementing a new store look and re-marketing the business. There is a lot potential and strong demographics in the area. Make an offer!
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 over 475 locations and more opening every month, Plato’s Closet is the fastest growing franchise in the teen retail space.
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 basis. The business and financial model for this brand is unparalleled.
If there’s one constant with the teen to twenty-something demographic it’s change. While changing hair color, profile pics, musical tastes and other interests are common, nothing requires more attention than their ever changing fashion needs! The exciting part about this group is they spend money to stay on top of the latest trends - to the tune of about $50 Billion annually plus another $170 Billion that others spend on them!
About the Business
Number of Employees:
Building Sq. Ft.:
$2,856.25 Per Month
Located in an updated strip mall, remodeled in 2018. There is plenty of parking available, near a bank, food and grocery stores. This is a clean space but this location needs a brand refresh. The new look breathe new life into this Plato's Closet.
The only competition in the Bountiful market is an Uptown Cheapskate located 15 miles south in Salt Lake City's Gateway Mall.
Growth & Expansion:
This location will strive with more attention and focus on marketing and advertising. Plato's Closet is an owner operator model- this business succeeds when their is more attention placed on the day to day operations, following the model and buying all seasons all year/all day long. This location is due for a brand refresh and once complete this will breathe new life into the store - the new owner has the opportunity to re-market and start a new.
Multi business owner- not enough time to dedicate to this business
Training is required and provided by the franchisor upon transfer. Additional ongoing support includes marketing and advertising, merchandising, inventory and financial management. Ongoing educational and support opportunities through field staff, conferences, trade shows and more.
Make and Offer- Plato's Closet For Sale, #1 Franchise in it's Category
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