Well Established Plato's Closet Franchise - PRICE REDUCED

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Don't Miss This Opportunity! Well below start up costs for New StoreQ!
Asking Price:
$45,000

Gross Revenue:
$440,000
Cash Flow:
 Not Disclosed
EBITDA:
 Not Disclosed
Inventory:
$36,000
included in asking price

FF&E:
$40,000
included in asking price

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Business Description

This Plato's Closet location entered the El Paso market in the fall of 2013 so there is a solid customer base to build from. This store is owned by an out of state, multi-unit franchisee so a hands on local buyer will have an opportunity to grow sales exponentially with a focus on this location.

Active ownership would decrease the current labor costs significantly and provide much needed attention on things like events in the store, increased store hours for customers, better training time for staff, timely and consistent merchandising and advertising efforts. The system average gross sales for Plato's Closet locations nationally is just under $1M so there's plenty of opportunity to build upon the foundation of sales currently set at this store.

This store is priced lower than starting a store from scratch so if you're looking for an established business with a ton of upside, Plato's Closet El Paso is worth a look!

ABOUT PLATO"S CLOSET:
Plato's Closet was ranked the #1 Retail Franchise Investments in the $150,000 - $500,000 range by Forbes Magazine and has been #1 in its category in Entrepreneur's Franchise 500 on an annual basis. With system wide sales average across all stores is just under $1M, the business and financial model for this brand is unparalleled. 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.

About the Business

Year Established:
2013
Number of Employees:
7 most pt
Real Estate:
Leased
Building Sq. Ft.:
3,600
Lease Expiration:
8/31/2018
Facilities:
Store is located in a busy strip center with plenty of parking. The space is in good condition as well with very little wear. The lease is up in August however there are two 5 year options the buyer may potentially assume.
Website:
www.platosclosetelpaso.com
Market Outlook/
Competition:
There is limited competition in the teen/young adult resale space in the area. There's one direct competitor and general thrift stores however they can't compete with the service and processes offered by Plato's Closet.
Growth & Expansion:
Opportunities exist in marketing and local store promotion. An increase in the level of social media activity and digital marketing combined with local store marketing to middle schools, high schools, colleges and participation in community events will all drive new customers into the store and increase sales. The biggest impact to increasing sales is having a local owner with a full-time presence and a hands on management approach.
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About the Sale

Reason For Selling:
Multi-Store Owner Downsizing
Training/Support:
Training provided by franchisor upon transfer. Additional support in Marketing/Advertising, merchandising, inventory management, financial analysis through both field and remote visits. Additional training opportunities at National and Regional franchisee meetings and conferences.

Listing Info

ID:
1496845
Ad Detail Views:
339

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Business Listed by

Pete First

Winmark Corporation

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U.S. Census Data for El Paso County, TX
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Source: Decennial Census (2010), United States Census Bureau.

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U.S. Community Survey Data for El Paso County, TX
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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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