NTY (New To You) Franchise Company was founded in 2006 by President Ron Olson. Since its inception, the company has skyrocketed to becoming one of the fastest-growing private companies in the U.S., with a tried-and-true resale concept and a solid franchising business model.
Things got rolling in 2007, when NTY purchased the franchise rights for Clothes Mentor, a women’s resale store focusing on designer clothing, shoes and accessories. There are now more than 140 Clothes Mentor stores open nationwide.
Four years later, with a solid foundation in place, NTY expanded its offerings by purchasing the franchise rights for New Uses, a resale store for home goods such as furniture, artwork, and more. There are currently 12 New Uses stores. Just two years after that, in 2013, the next brand was introduced under the NTY Franchise Company umbrella. Purchased as Laptop Exchange and renamed Device Pitstop, the franchise buys, sells and repairs personal electronics. To date, there are 12 Device Pitstop stores open.
Continuing to follow its successful business model and recognizing a void in the resale market for kids and teens, the company created two new franchises from scratch in 2014: NTY Kids for newborns through preteens and NTY Clothing Exchange for teens and young adults. Both stores buy and sell name-brand clothing, shoes, and accessories, and NTY Kids also adds toys and baby equipment into the mix.
Rounding out its resale franchise offerings and boosting store numbers significantly in 2015, NTY Franchise Company purchased an existing kids resale store, Children’s Orchard, and merged it with NTY Kids. The name Children’s Orchard stuck, and the new total of 30 stores were revamped to fit the modern design and concept developed by the NTY team.
Resale Franchising: It’s What We Do
The business of Resale and Resale Franchising is woven into our fabric. We’ve been doing it for years and we like to think we do it well. It’s our experience that differentiates our franchises from so many other opportunities available to you.
So why is our focus on resale, you ask? Because it works, plain and simple.
A proven franchising model
Our tried-and-true approach to resale results in margins of approximately 60 percent month after month, year after year year. It just doesn’t get better than that. To put this into perspective, consider the fact that traditional retail stores average gross margins of about only 40 percent. This means as an NTY Resale Franchise owner, you make more money faster.
Ready to learn more about NTY Franchise Co.’s franchise opportunities?
Our Concept of Resale is Unique
It’s not consignment and it’s not thrift. We buy inventory from customers for CASH On-the-Spot. In comparison, consignment stores only pay customers a percentage of the profit when (or if) their specific merchandise sells. Thrift stores, on the other hand, usually don’t pay customers for merchandise at all, accepting donated goods for inventory.
The money that NTY Franchise Company stores spend on inventory goes directly back into the respective communities. It fills the pockets of the people you care about, and they love the convenience of CASH On-the-Spot.
Our Niche is Upscale Resale
All five of our resale franchise brands put great emphasis on buying high-quality, name-brand merchandise that is gently used and in excellent condition. The stores are clean, bright, and meticulously organized. Shoppers feel welcome and know that they’ll find exceptional deals at every turn.
And the very nature of resale keeps customers coming back. Inventory changes daily, and that’s a thrill for shoppers—so is saving an average of 70 percent off of original retail prices.
Our general rule of thumb is that stores buy merchandise for one-third of what they sell it for, providing high gross margins while pleasing both shoppers (who find amazing deals) and sellers (who get cash for items they no longer need).
Resale is an Enduring Trend
For starters, it’s environmentally conscious, which continues to resonate with people. All brands under the NTY Franchise Company umbrella promote the reuse of goods.
Also, the market for resale has proven to not only withstand, but flourish during economic downturns. Take Clothes Mentor, for example, which started franchising in 2007 when the U.S. economy was on the verge of a recession. Within the following two years, when other retail stores were struggling, Clothes Mentor was thriving. It created an even bigger demand for our resale niche that continued to grow as the economy improved.
While NTY’s concept of resale is fundamental in getting stores off to a fast start toward success, the other key factor is franchising. Check out the other pages on this site to learn more about how it works.