Plato's Closet - franchise business for sale, El Cajon, California

Location: El Cajon, CA (San Diego County)
Asking Price $350,000
Gross Revenue $1,165,000
FF&E $120,000
Inventory $120,000 - not included
Year Established 2015
Employees 27 PT, 1 FT

High Performing Plato's Closet with the "New Look" For Sale.

Plato's El Cajon outside

Plato's Closet El Cajon is This store is located directly across the street from the Parkway Plaza Mall. It was one of the first 3 with the New look so no new improvement work is needed. It is bright and beautiful.The store has 6200 sqft with 5200 being selling square footage. Plato's Closet El Cajon is off to a great start with 1st year sales 10% higher than the brand average. In its second year, this location is trending up double digits and is already a top 10 store in the region. A new owner coming in can simply follow the franchise system to be profiting and cash flowing month one. 

interior of store

The current owner took their 13 years of Plato's Closet experience and put in place the necessary components to make this location one of the best in the brand. There are no local competitors and the closest Plato's Closet location is 35 minutes away.This is a huge business opportunity with a number of large high schools and colleges in the area including San Diego State that has over 34,000 students.

All of the work has been done - site selection, lease negotiation, build out and start-up. Now this location is ready for the new owner to take advantage of this established and profitable location.With a strong, consistent local marketing effort this location will reach its full potential very fast.

About Plato's Closet

Plato’s Closet, a Winmark brand, is the established retail franchise leader in the teen resale space. Plato’s Closet offers gently-used, brand-name apparel and accessories to both girls and guys at a fraction of the retail cost. 

There are more than 460 Plato’s Closet locations and more opening every month making Plato’s Closet the fastest growing retail franchise in North America.

brand

At Plato’s closet, we buy our inventory from our customers every day and unlike consignment, we pay cash on the spot. Our customers buy outfits at a fraction of the cost of full retail prices AND get cash on the spot for items they no longer use? It’s a win-win for both the customer and the franchisee. This buy/sell model makes Plato’s Closet a truly unique retail franchise opportunity.

While the franchise model is proven, the financial health of our franchisees is the key to the success and growth of the brand. In 2015, the average Plato’s Closet location had sales of just under $1M. The top 25% stores reached an average sales volume of just under $1.5M. Factoring in an average Gross Margin of nearly 62% it makes Plato’s Closet one of the best franchises available today. 

 

In fact, Plato’s Closet is ranked #1 in its category in Entrepreneur Magazine’s Franchise 500 and has been in the Top 500 for the last 11 years. Plato’s Closet is also ranked in both the Fastest Growing and America’s Top Global franchise categories. In 2014, Plato’s Closet received another outstanding accolade as it was ranked the #1 franchise investment opportunity by Forbes Magazine in the $150,000 to $500,000 investment category

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