plato's closet franchise

Net-worth Requirement: $250,000. Plato’s Closet franchise is a retail store that sells quality used and new brand name teen and young adult clothing and accessories. A franchises franchise registry approval status is another good indicator of a franchise systems financial well being. ... Plato’s Closet One Of The Fastest Growing Resale Retail Franchise. Initial Franchise Fee: $25,000 Net-worth Requirement $250,000. in FDD Talk 2021: Retail Franchises, Franchise Earnings, Resale Franchise, Retail Franchise. How often are PLATO’S CLOSET franchise owners successful? Awards #151 Franchise 500. How much does a Plato's Closet franchise cost? Financial Requirements. Initial Investment $75,000. Over the last three decades, we've learned that finding the right individuals to partner with and represent our brands is essential to marketplace success—no matter what territory they're in. Plato's Closet is a registered trademark of Winmark Corporation based in Minneapolis, MN. Each franchise is independently owned and operated. About Plato's Closet Plato’s Closet® leads the nation in the buying and selling of name brand, gently used apparel and accessories for teens and twenty-something girls and guys. Customers have the opportunity to sell their used items to a Plato’s Closet store when outgrown and to purchase quality used clothing and accessories at prices lower than new merchandise. Edition: ... View rankings of the best franchise suppliers: Franchise Accountants Franchise Attorneys Franchise Brokers Franchise Computer Software Franchise Consultants Entrepreneur Magazine has ranked Plato’s Closet #1 in its category in the publication’s Franchise 500 – a list that the brand has been included on for over a decade! "I thought it was a … Initial investments: $255,000 - $400,900. In mid-February 2019, Jennah Esposito, owner of Plato’s Closet in Ontario, Ohio, was featured in her local news because she was remodeling her store to celebrate its 10th anniversary. Customers were wearing flare jeans, ballet flats, and graphic … Plato's Closet is a resale franchise in Commack. We qualify candidates on an approximate investment of $275,000 to $350,000, however, this investment will vary depending on the market and other factors. Plato’s Closet is not only known for buying your old clothes, it is known for their unique style and fashion sense. Los Angeles, CA:Business for sale is a manufacturer of promotional apparel and custom embellishments with national sales and located in Los Angeles. 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. Research business. The System wide sales average across nearly 440 stores is just under $1M. Corporate Address 605 Hwy. Each franchise is independently owned and operated. Achieves Highest Average Unit Volume in the Resale Franchise Segment 1. With over 475 locations and more opening every month, Plato’s Closet is the fastest growing franchise in the teen retail space. In a 2009 interview with Star Tribune, CEO John Morgan said Plato's Closet did the best during the Great Recession among Winmark's franchises because people were more likely to sell used clothing to make money and to buy used clothing to save money. Other brand names are trademarked or registered by their respective companies. As in any successful start-up business, proper capitalization from Day 1 is key. Plato's Closet combines two awfully trendy trends: fashion savvy and recycling. Free Plato's Closet Franchise information. Leave a Comment. Plato's Closet is a retail-resale brand aimed directly at one of the marketplace's most demanding and discerning demographics: teens and twenty-somethings. Used clothes are purchased at between 30% and 40% of what Plato's Closet intends to sell them at. Franchise Social Media Unknown. Plato's Closet is owned by Winmark (formerly Grow Biz), which also franchises Music Go Round, Once Upon A Child, Style Encore and Play It Again Sports. CEO Brett Heffes. Each franchise is independently owned and operated. As of 2017, Plato’s Closet has over 440 locations in the United States and Canada. Each franchise is independently owned and operated. Click on any part of the map below in the US and Canada to see a list of open territories or existing stores for sale in your area. Due … We're a unique recycling retail store just for teens and young adults (girls' size 12 to juniors' size 15; guys' size 12 to waist size 38) - we buy and sell the latest looks in gently used clothing and accessories from the hottest names. Learn if you should start a opportunity at Franchise Genius.com. Winmark, the parent company for Plato’s Closet, offers extensive training and support to store owners in areas such as business planning, pricing, styles and trends, retail site selection, marketing and advertising, and field operations. According to the Winmark Corporation, the parent company of Plato’s Closet, its brands’ unit-level economics are often 50 percent higher than those of its competitors in the same space. Find detailed information about Plato’s Closet franchise costs and fees. Franchise Registry approval status. Plato’s Closet has been ranked by Entrepreneur Magazine as the #1 teen and #1 retail franchise for the past several years. Plato's Closet offers a truly unique retail franchise opportunity, as it is the only national teen retail store of its kind -- focusing on the buying and selling of gently used, brand-name apparel and accessories for girls and guys! How Much Does it Cost to Open a Plato's Closet ® Franchise? Review other vendors that offer similar solutions and compare them against Plato's Closet. Plato’s Closet has been ranked by Entrepreneur Magazine as the #1 teen and #1 retail franchise for the past several years. Plato’s Closet ® has been the fastest growing brand at Winmark ® since we began franchising it in 1999, and it is the largest brand in a unique franchise system that has been in the resale-retail business since 1988. 840 talking about this. 2. 169 N., #400 Minneapolis, MN 55441. Franchise Facts Plato's Closet buys and sells quality used and new brand name teen and young adult clothing and accessories. If you haven’t worked in retail since your high school days—don’t worry! In fact, unit for unit, Winmark’s brands frequentl… Plato's Closet sells gently used clothing for teens and young adults, and is the only national teen retail store of its kind. Plato's Closet A Top Franchise In America According To Forbes Plato's Closet, a national franchise that focuses on buying and selling name brand, gently used clothing and accessories for teens and twenty-somethings, has earned the number one spot, when ranked against similarly priced franchises, on Forbes Magazine's Best and Worst in Franchising list. PLATOS CLOSET Franchisee success rate. About Plato's Closet ® Our Dynamic Teen Resale Franchise Business. Last October, Bracken and Kathy Egan, a former paralegal, opened the doors to Plato's Closet, a secondhand teen-clothing shop. Each franchise is independently owned and operated. We qualify candidates on an approximate investment of $250,000 to $350,000. Purchasing a Plato's Closet Franchise. This franchise is the only national teen retail store of its kind, dude. Liquid Cash Requirement: $75,000. Plato’s Closet stores buy and sell gently used brand-name apparel and accessories for teens and young adults. 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! Contact our friendly franchise team at (866) 668-0681 or fill out a qualification form today! Liquid Cash Requirement $75,000. 11. Plato's Closet was ranked the #1 Retail Franchise Investment in the $150,000 - $500,000 range by Forbes Magazine for the last two years and has been #1 in it's category in Entrepreneur's Franchise 500 on an annual basis. Have more questions about our available Plato's Closet® territories? Franchise Website Plato's Closet Franchise. Each franchise is independently owned and operated. information including fees and costs. The Plato's Closet ® Process As the biggest and most prominent retail-resale franchisor in North America, Winmark ® knows what it takes to build a successful franchise business. Advertising Fee: if Plato’s Closet imposes this fee, you will pay up to 2% of your Gross Sales. The system wide sales average across over 450 stores is just under $1M. Plato's Closet Franchises offer entrepreneurs an opportunity to operate as a Plato's Closet Franchisee with a proven business model that offers instant name recognition, marketing, ongoing training and support to help you succeed and earn. Plato's Closet competitors and alternatives. ABOUT PLATO'S CLOSET: As the established leader in the teen resale-retail space, Plato’s Closet offers gently-used, brand-name apparel and accessories to both girls and guys at a fraction of the retail cost. As a Brand Platos Closet was ranked the #1 Retail Franchise Investment in the $150,000-$500,000 range by Forbes and has been #1 in its category in Entrepreneur's Franchise 500 on an annual basis. Get data on the success rate of PLATO’S CLOSET franchisees. Cash or liquid assets: $75,000 - $105,000 and $400,000 in Net Worth. Entrepreneur’s Franchise 500. At Plato's Closet, we buy and sell quality used, name brand apparel and accessories for teens and young adults. 10. Products & Services The first Plato's Closet® store was opened in Columbus, Ohio by founders Lynn and Dennis Blum. Plato's Closet has the franchise fee of up to $25,000, with total initial investment range of $255,000 to $400,900. We already have over 200 store locations throughout North America, and that number continues to grow. Winmark's franchise models create a path to multi-unit ownership, which is why over 97% of our franchisees have renewed their agreements with us over the last ten years and almost 60% have opened multiple locations across all of our brands. The business and financial model for this brand is unparalleled. Plato's Closet has a franchise fee of up to $25,000, with a total initial investment range of $251,700 to $390,700. Plato's Closet is a registered trademark of Winmark Corporation based in Minneapolis, MN. Plato’s Closet has ranked on Entrepreneur’s annual Franchise 500 list every year in the past decade. Just click on a loan to find out more information about the borrower, the lender and how much of the loan was guaranteed by the SBA. Other brand names are trademarked or registered by their respective companies. This successful and innovative business has an excellent reputation, and is known for its high quality, fast turnaround times, and creative products. Credit: Jonathan Ayala By Lisa Irizarry Special to Newsday @lisairiz Updated July 1, 2021 5:00 AM Franchisee Remodels Store in Honor of 10th Anniversary 1. Other brand names are trademarked or registered by their respective companies. A Plato's Closet franchise offers franchisees a very unique opportunity, based on a sound business model and the support of the parent company, Winmark Corporation. Plato's Closet buys & sells gently used clothes & accessories for teens & 20-somethings. FDD Talk 2020: Plato’s Closet Franchise Review (Financial Performance Analysis, Costs, Fees, and More) May 28, 2020 by Franchise Chatter. Learn more about: Plato's Closet Franchises If you are interested in getting a small business loan, you may want to learn more about the loans listed above. The time is now to turn your passion into your business with ownership in one of our award-winning franchises. The franchise website lists the cities/areas in each state that the company would like growth in. Franchise Profile — Plato's Closet. Plato's Closet is a registered trademark of Winmark Corporation based in Minneapolis, MN. Even Entrepreneur Magazine agrees and has ranked us in its category in the publication's Franchise 500—a list that our brand has been included on for over a decade. Plato's Closet Teen Resale Franchise Information: Plato's Closet ® is all about being fashion savvy and shopping smart.