Plato's Closet - franchise business for sale, Sarasota, Florida

Location: Sarasota, FL 
Asking Price $175,000
Gross Revenue $460,000
FF&E $40,000
Inventory $44,000 (not included)
Year Established 2009

Perfectly Located, High Performing Plato's Closet location For Sale In Sarasota, FL.

Plato's Sarasota

Plato's Closet Sarasota is for sale and ready to grow! Forbes Magazine ranked Plato’s Closet as a Top Ranked Franchise in the $150,001-$500,000 category for 2014, 2015! It has also been in the Entrepreneur Magazine Franchise 500 - as #1 in Category 2011 – 2016.

The mall location is great, the staff is well-trained and experienced, and the store has a solid lease with reasonable annual increases and a 5 year option in place. All of this adds up to a smooth, turn key transaction! 

Sarasota Platos

This store is located at a high traffic corner of US 41 and Stickney Point Road. The parking is ideal and there are almost always parking spots available close by. The rent is within market values for this area and the annual increases in the lease are very reasonable which allows for predictable and stable rent. The mall itself has excellent, stable co-tenants which include Publix, Books a Million, Bed Bath and Beyond, Michael's and more.

Siesta Key Beach is a magnet for our demographic group and it is within our market. There are also thousands of middle and high school students who go to school in the vicinity of the store. There are over 13,000 customers in our teen/young adult demographic within 7 miles of the store. Expanding social media advertising through Instagram, Facebook and other mediums will help reach more of this core customer base.

A franchisee with a local presence will have an immediate impact on sales as they will be better suited to network within the community through local events, school promotions and more. They can also continually train the staff which will improve sales. The additional resources a new owner would have will allow implementation of a more focused, expanded marketing campaign. This will provide the opportunity to buy more product from the customers to increased store inventory which ultimately will drive more sales.

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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