Profitable Plato's Closet! Ranked #1 Apparel & Accessories Franchise!

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Asking Price:
$385,000

Gross Revenue:
 Not Disclosed
Cash Flow:
 Not Disclosed
EBITDA:
 Not Disclosed
Inventory:
$95,000
not included in asking price

FF&E:
 Not Disclosed
included in asking price

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Business Description

Turn Key and profitable Plato's Closet located in a vibrant college city! This location has been successfully serving the Lawrence, KS community for 11 years. With a fivestar loyalty program, resale Ai programs in place and a lower royalty rate through 2027 this is a prime opportunity to buy and established business!

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 basis. The business and financial model for this brand is unparalleled.

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!

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 476+ locations and more opening every month, Plato’s Closet is the fastest growing franchise in the teen retail space.

About the Business

Location:
Lawrence, Kansas
Year Established:
2008
Number of Employees:
15
Franchise:
Yes
Real Estate:
Leased
Building Sq. Ft.:
4,000
Rent:
$8,519.00 Per Month
Facilities:
Located on a highly visible street/intersection. Very close to student housing, apartments and the college campus. The lease will expire Sept, 2022 with an optional renewal term of 5 years.
Website:
www.platosclosetlawrence.com/
Market Outlook/
Competition:
A few small resale shops in the area but no direct competition. The University of Kansas is 1/2 mile away with 20,000+ students. Very trendy product and consistent flow of buys from university students.
Growth & Expansion:
Follow the model- community involvement and marketing. Becoming an owner operator on a daily basis and eliminate excess management in order to directly impact store operations.
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About the Sale

Reason For Selling:
Retirement
Training/Support:
Training is required and provided by franchisor after purchase of the store is completed. On-going franchisor support includes advertising, marketing, merchandising, inventory and financial management. Additional training and education opportunities available at the annual franchisee conference, trade show and regional meetings. In store support through Field Operations Managers bi-yearly visits. Additional visits are possible if requested. Franchisor may require an additional investment in working capital and brand standard upgrades.

Listing Info

ID:
1657846
Ad Detail Views:
0

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Business Listed by

Cat Eckstaedt

Winmark Corporation
License# 1

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