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

Location: Largo, Florida
Asking Price SOLD
Gross Revenue $800,000
FF&E $86,565
Inventory $58,000 not included
Year Established 2004

Well Established and recently expanded Plato's Closet for sale!

Plato's Largo outside

This 5,000 sqft. Plato's Closet store is conveniently located in the Largo Mall just off of Seminole Blvd. This is a major retail trade area in Largo. The shopping plaza has excellent co-tenancy in place with several value driven retailers including Target, Michaels, Once Upon A Child (a sister brand), Bealls, Dollar Tree, PetSmart and Bath & Body Works. There is plenty of well lit parking and the mall is in excellent condition.

interior of store

This Plato's Closet location open in 2004 so you would be stepping into a business with a well established customer base. The current franchisee is a looking to retire after 14 years of ownership. This location is an excellent opportunity to acquire an existing business 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! 

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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