Plato's Closet Franchise - Potential Multi-Store Sale

Big Flats, NY (Chemung County)

Beautiful Store - Loaded with Ineventory - Turn Key!!

Asking Price:$300,000

Cash Flow:N/A

Gross Revenue:N/A

EBITDA:N/A

FF&E:$75,000

Inventory:$86,000*

Rate/Sq. Ft.:N/A

Established:2015

*not included in asking price.

Plato's Closet Franchise - Potential Multi-Store Sale

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Business Description

Plato's Closet opened in the Big Flats market in November and has been developing a strong and loyal base of repeat customers ever since. Brand recognition is strong which benefits newer locations like this.

As a brand Plato’s Closet was ranked the #1 Retail Franchise Investment in the $150,000 - $500,000 range by Forbes for the last two years and has been #1 in it's category in Entrepreneur's Franchise 500 on an annual basis. The system wide sales average across nearly 440 stores is just under $1M. The business and financial model for this brand is unparalleled.

This location is an excellent opportunity to acquire an existing business and hit the ground running. For the right candidate there is also an opportunity to acquire the neighboring store - Style Encore - as both businesses compliment each other.

If there’s one constant 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 that others spend on them!

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. With nearly 440 locations and more opening every month, Plato’s Closet is the fastest growing franchise in the teen retail space.

If you're looking for a business with a proven brand and the support in place to help you succeed, Plato's Closet in Big Flats is worth checking out!

Detailed Information

Inventory:
Not included in asking price
Real Estate:
Leased
Building Sq. Ft.:
7,200
Lease Expiration:
N/A
Employees:
11
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
This store has been open since November so this is essentially a BRAND NEW location. The space is fully renovated, painted and built out to the franchisors design guidelines and local building code. This is a TURN KEY opportunity with fully trained staff onboard! The store is located in a major strip plaza in the Big Flats/Horseheads/Elmira area. The plaza is very active and just off a major freeway exit. Plenty of traffic as well as parking. The lease is 10 years to match the initial term of the Franchise Agreement. The lease includes a 5 year renewal at the end of the initial 10 years.
Competition:
There are no similar stores in the Elmira area. Big Flats/Horseheads is a major shopping hub in the New York Southern Tier. This area also draws a large amount of shoppers from Northern Pennsylvania.
Growth & Expansion:
This store has been open less than a year so the customer base is growing as the brand recognition expands and customers continue to talk about the great experience the have shopping at the store! The marketing plan is in place so continued advertising in both traditional and digital/social media will build traffic to the store. There are many opportunities to promote local events through targeted local marketing. Marketing templates and materials are available for every marketing and promotional event you can think of so the owner does not have to do this on their own.
Support & Training:
Training provided and required by franchisor upon transfer. 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:
Multi-Store owner consolidating from six stores.
Franchise:
This business is an established franchise
Business Website:
http://www.platosclosetelmira.com

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Pete First

Business Listed By:
Pete First

Winmark Corporation

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