Great opportunity to buy an Established, High Volume Plato's Closet Franchise.
Plato's Closet in Selma is one of 5 Plato's Closet locations in the San Antonio market. This brand dominates the teen and young adult resale segment in this market. This location has been open for seven years and has a 5 year sales average of over $1.2M with a peak of $1.6M. The gross margins are phenomenal at nearly 70%. A new motivated buyer can can step right in and hit the ground running!
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's personal touch! The store occupies 4,600 square foot space in a busy center. Roughly 25 parking spaces in front and rear of the space. The location is 7 years old with great visibility off a major highway. The facility is in good condition with a very attentive landlord. This store did nearly $1M in sales in 2015 with little to no advertising budget. An increased emphasis on social selling, digital and social media advertising could push sales in this location to new heights. The store is ready to bring in the new design which will completely change the look and feel of the store. A hands on owner focused on this location will have an immediate impact on sales, staff productivity and profits.
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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