Established Business For Sale - Be Your Own Boss

Charlottesville, VA (Albemarle County)

Established Business For Sale - Be Your Own Boss
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Asking Price: $285,000

Cash Flow: N/A

Gross Revenue: $714,426



Inventory: $70,000*

Rent: $6,269.24 /Month

Established: 2006

*not included in asking price.

Established Business For Sale - Be Your Own Boss

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Business Description

Own a well-established teen and young adult resale clothing and accessory store! Plato's Closet of Charlottesville opened in 2006 and has been a solid performer since day 1. Located in the Rio Hall section of Charlottesville, this store benefits from being in a great location with lots of foot traffic. The owners are multi-unit franchisees looking to downsize their long distance operations. Along with Charlottesville, they've made the Fredericksburg Plato's Closet location available as well.

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.

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 bases. The system wide sales average across nearly 440 stores is just under $1M. The business and financial model for this brand is unparalleled.

Detailed Information

Not included in asking price
Real Estate:
Building SF:
Lease Expiration:
4,040 SF space located in the Rio Hill Shopping Center at the intersection of Seminole Trail (US Route 29) and Woodbrook Drive, in Charlottesville, Virginia. We're perfectly situated approximately 3 miles north of the University of Virginia. The center was built in 1988 and the landlord has been great to work with over the years. The center is anchored by Kroger, Dick’s Sporting Goods, TJ Maxx and Crutchfield. There is a nice mix of national, regional and local tenants including Springleaf, Dollar Tree, Hair-Cuttery, Hertz, JoAnn Fabrics, Rack Room Shoes and Sally Beauty.
There are no significant competitors in the immediate area. While there are value and discount retailers in the market, no one is able to compete with Plato's Closet's value by paying our customers cash on the spot for their gently used clothing.
Growth & Expansion:
New staff in place has developed quite nicely despite not having a full-time ownership on site. The biggest impact a new owner can have on top line sales is with a local, full-time presence and a hands on management approach to build relationships with customers and staff. Just keep buying great merchandise from the customers and maintain a strong social media presence, there will be plenty of opportunity for sales growth.
Support & Training:
Training required and provided by franchisor upon transfer. Additional ongoing support includes marketing and advertising, merchandising, inventory and financial management. New product buying group for great pricing on new equipment and freight charges. Ongoing educational and support opportunities through field staff, conferences, trade shows and more.
Reason for Selling:
Multi-unit owners downsizing long distance operations
This business is an established franchise
Business Website:
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Business Listed By:
Cat Eckstaedt

Winmark Corporation

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