Established Profitable Plato's Closet Franchise

Tucson, AZ (Pima County)

New Store Design - Ready for New Ownership!

Asking Price:$225,000

Cash Flow:N/A

Gross Revenue:$713,000

EBITDA:N/A

FF&E:$170,000

Inventory:$75,000*

Rate/Sq. Ft.:N/A

Established:2005

*not included in asking price.

Established Profitable Plato's Closet Franchise

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Business Description

Plato’s Closet entered the Tucson market in 2005 and has since established itself as the leader, teen and twenty something resale destination. Due to our growing success we were able to expand this location in 2014 with a larger sales floor and many features to accommodate future owners and customers for a one of a kind retail experience. From the state of the art 16 camera DVR CCTV system to the 2-year-old computer equipment and updated POS you’re covered from top to bottom in this location. Recently as of June 2016 we also did a mini remodel. Beautiful new paint, fixtures and dressing rooms (7) are waiting to catch anyone’s eye that walks in.

Plato’s Closet customers are loyal and with our ever changing inventory we have many repeat customers both buying and selling to us. Our sales and buying team has been successful at building relationships with our local clientele and providing a memorable experience. If there’s one thing consistent with the teen to twenty-something demographic it’s change. While changing hair color, profile pics, musical tastes and other interests are common, nothing requires more attention than their ever changing fashion needs! The exciting part about this group is they spend money to stay on top of the latest trends to the tune of about $50 Billion annually plus another $170 Billion others that others spend on them!

Plato’s Closet was ranked the #1 Franchise Investment in the $150,000 - $500,000 range by Forbes for the last two years and has been #1 in its category in Entrepreneur's Franchise 500 on an annual basis.As the established leader in the teen resale-retail industry, Plato’s Closet offers gently-used, brand-name apparel and accessories to both gals and guys at a fraction of the retail cost.

This is your opportunity to own a turn-key franchise with one of the nation’s premier retail brands. The store is beautiful, staffed and ready for you to hit the ground running.

Detailed Information

Inventory:
Not included in asking price
Real Estate:
Leased
Building Sq. Ft.:
4,497
Lease Expiration:
9/30/2018
Employees:
14
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
4497 square feet with a lease through September 2018 with 2 Option terms on lease. The store was enlarged and updated in February 2014. The interior is well designed, neat and clean with an open layout. Large back room for storage and with functioning kitchenette break area. There is ample parking shared with other stores in the plaza. The store is located 1 block south of the Tucson Mall on Oracle Road. The store has been updated to the new Winmark Remote computer system, allowing you to view reports from home. There is staff currently well trained and in place.
Competition:
Limited competition in the teen retail space.
Growth & Expansion:
The business needs a motivated and dedicated owner looking for an opportunity to be in business for his/her self who can grow sales. There’s opportunity for sales growth with increased marketing to local high schools, University of Arizona students and more social media marketing. The right person will have the pleasure of operating a business that is a lot of fun. Check out Instagram for pictures of current product, past events and the team’s enthusiasm, @platosclosettucson. System average gross sales for Plato's Closet is just under $1M so there's plenty of upside to this location!
Support & Training:
Training provided and required by franchisor upon ownership. On-going support in advertising, merchandising, financial and inventory management, social media training and more provided by franchisor through field visits, regional meetings and national franchisee conferences.
Reason for Selling:
Retirement w/spouse
Franchise:
This business is an established franchise
Business Website:
http://www.platosclosettucson.com

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Pete First

Business Listed By:
Pete First

Winmark Corporation

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