Plato's Closet - franchise business for sale, Lyndhurst, Ohio

Location: Lyndhurst, Ohio
Asking Price $350,000
Gross Revenue $900,000
FF&E $28,000
Inventory $110,000 - not included
Year Established 2008

Plato's Closet with GREAT potential For Sale.

Plato's Ohio outside

Since opening in 2008, Plato’s Closet Lyndhurst has developed an enthusiastic and loyal customer base drawn from the east side of Cleveland, Ohio and its suburbs, and has consistently been a top performer among the four Greater Cleveland Plato’s Closet stores. This is a terrific location between major upscale shopping malls and big box retail stores with an excellent lease for the area. There is a VIP Text Club with 4,192 members (as of 12/28/16), 4,310 Facebook Likes, 1,610 followers on Instagram.

interior of store

Plato's Closet Lyndhurst occupies just over 4,800 total sq. ft. with approximately 4,400 sq. ft. of selling space. The lease includes a prime location on the monument signage at the entrance to the plaza. The store is conveniently located in The Greens of Lyndhurst plaza, an upscale family friendly plaza with a lot of neighborhood amenities. This is on a major 5 lane retail trade route from Cleveland going east through the major suburbs and serves well established communities north and south including Cleveland Heights, Shaker Heights, Beachwood, Hunting Valley, Chagrin Falls, Richmond Heights and Highland Heights.

The shopping plaza has good co-tenancy in place including two other resale shops adjacent to our Plato’s Closet on either side, Revolve Kids and Tweens for newborns through Youth size 20 and Revolve Fashion, an upscale resale shop for women sizes 0-26. There is a Sam Ash music store, which attracts a lot of teen and twenty-somethings, Applebee’s, a Mexican restaurant and much more. The center provides a large, well-lit parking lot with beautiful and well-maintained landscaping, has current music playing outside for a cheery mood, and is decorated throughout the holidays. Owner is selling as they wish to retire.

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.

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

To find out more about this Plato's Closet franchise for Sale please fill in the form below and submit.

Leave this field empty

Get more info on this Plato's Closet

Contact Details

* Fields are required

Sign me up to receive the latest information from Franchise Resales.

We never sell or share your personal information