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Updated 4 june 2020
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Franchise Plato's Closet

Investments

$255,000

Franchise fee

$25,000

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Short information

$255,000

$255,000

Investments

$75,000

$75,000

Minimum Cash

17

17

Wishing to buy

1998

1998

Year Brand Started

475

475

Offices

1999

1999

Year Franchising Started

Franchise Plato's Closet

Investments

$255,000

Offices

475

Franchise Fee

25000

Short information

1998

Year Brand Started

1999

Year Franchising Started

About Franchise

16,000 students is close providing an excellent target market.

Current owner is selling as they wish to retire.

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. 

Franchise Plato's Closet

Not Your Typical Secondhand Clothing Store

At Plato's Closet® you'll find a huge selection of trendy, designer styles as well as those every day basics you can't live without—all at up to 70% off mall retail prices!

We buy gently used teen and young adult style clothing and accessories that are name brands, cool, hip, trendy, clean and in good condition. With no appointment needed, we buy every day and will pay you on the spot! Most of our stores buy and sell girls sizes 0 to 30 and guys sizes 28 to 40 waist, and we typically buy current styles that are still in the mall. Check with your local store for additional details.

Franchise Plato's Closet

The Biggest

Plato’s Closet continues its reign as the leading national retail store of its kind. With over 475 locations across North America and new stores opening each month our impact continues to grow. The brand is rapidly expanding, but there are still untapped markets across the US and Canada ripe for a new franchisee to establish their own Plato’s Closet.

The Best

Can you believe a store selling gently used teen and young adult clothing and accessories could have average gross sales of just under $1M? That’s Plato’s Closet. Did you know our top quartile in the system (over 100 stores) has average gross sales of over $1.4M? Plato’s Closet is designed to be a high volume, high gross margin business. The model is proven, it works, it’s scalable and it is the best in the business.

The Opportunity

Life changing. That’s what we hear from our franchisees. Our system includes young couples entering into business ownership for the first time, retired executives ready to chart their own course, families who are building a business with multiple locations to pass on as their siblings and children grow up. This is a business you can grow from one store to many depending on your goal. Continue your exploration of this exciting business by taking the first step – Apply Now.

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Finance Information

Investments: $255,000 – $400,900

Franchise fee: $25,000

Royalty fee: 5%

Minimum Cash: $75,000

Net Worth: $250,000

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Business Type

Franchise

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