|Location:||Escondido, CA (San Diego County)|
Top Performing and Top ranked Plato's Closet location For Sale.
Plato's Closet in Escondido was the first location opened in California (San Diego County). It has been the #1 performing location in California and either #1 or #2 in the region over the last 4 years. A new buyer can hit the ground running this established location which is generating over 40% more than the very successful average stores.The store has been located in a strip center with freeway visibility since 2012. It is next door to a Chuck E Cheeses pizza which drives a surprisingly high amount of traffic. The shopping center was refreshed approximately 3-4 years ago. It is a well-known shopping center in the area and customers are comfortable visiting. Our lease includes monument signage. There is ample, comfortable parking. There is one year left of the lease with a 5 year option in place. The landlord has already agreed to extending the 1 remaining year to 3 years keeping the 5 year option in place if the new owner would prefer that. The total square footage is 5000 sq ft with 4236 being sales floor.
This location has a strong customer pool with 4 large high schools, a number of small high schools, a state university and a community college all nearby. The community provides a strong customer base with over 30K contacts in our data base, and ringing over 44K transactions annually. It has been consistently in the top 15% of all Plato's Closet locations and as high as #12 over the last 4 years. Although this is a high performing store there is still significant opportunity for further growth. A stronger local store marketing effort getting more involved in local schools and community activities will drive more traffic and revenue. A hands on management approach from a new owner will drive higher performance from staff and will provide an improved customer experience driving sales. Training will be provided and required by franchisor upon transfer. Current owner is selling as they are multi-store owner and they wish to down-size.
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.
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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