Great opportunity to buy a Plato's Closet franchise with huge growth potential in Baytown.
A new owner will make an immediate impact to increasing sales is having a local owner with a full-time presence and a hands on management approach. There is no competition in the area within the teen/young adult resale space.
The overall investment for this location is $417,000 broken down as follows:
- $235,000 – Asking price from the seller
- $97,000 – Current inventory at cost
- $40,000 – Working capital
- $40,000 - Store décor and computer upgrades (estimated cost)
- $5,000 – Transfer fee
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.
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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