High Performing Plato's Closet with the "New Look"

El Cajon, CA (San Diego County)

Hot New Look - Turn Key for New Ownership!

Asking Price:$350,000

Cash Flow:N/A

Gross Revenue:$1,165,000

EBITDA:N/A

FF&E:$120,000

Inventory:$120,000*

Lease Rate:N/A /SF

Established:N/A

*not included in asking price.

High Performing Plato's Closet with the "New Look"

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Business Description

Asking price is $350,000 + Inventory. Plato's Closet El Cajon is off to a great start with 1st year sales 10% higher than the brand average. In it's second year, this location is trending up double digits and is already a top 10 store in the region. A new owner coming in can simply follow the franchise system to be profiting and cash flowing month one. The current owner took their 13 years of Plato's Closet experience and put in place the necessary components to make this location one of the best in the 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.

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 profitable business with a proven brand and the opportunity to hit the ground running - Plato's Closet El Cajon is worth checking out!

Detailed Information

Inventory:
Not included in asking price
Real Estate:
Leased
Building SF:
6,236
Lease Expiration:
4/1/2020
Employees:
27 pt, 1 ft
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
This store is located directly across the street from the Parkway Plaza Mall. It is 6200 sqft with 5200 being selling square footage. This store was one of the first 3 with the New look so no tenant improvement work is needed. It is bright and beautiful. You can see this store which was featured in the "How it Works" video on the Plato's Closet websites nation wide.
Competition:
There are no local competitors and the closest Plato's Closet location is 35 minutes away.
Growth & Expansion:
This location is a fantastic opportunity. First year sales were 10% higher than the very successful average store and growing monthly double digits. A new owner can simply walk in and continue following the franchise system. There is a huge opportunity with a number of large high schools and colleges in the area including San Diego State with over 34,000 students. A strong, consistent local marketing effort will help this location reach its full potential even faster.
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. The franchisor may require an additional investment in working capital for initial operations.
Franchise:
This business is an established franchise
Business Website:
http://www.platosclosetelcajon.com

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Pete First

Business Listed By:
Pete First

Winmark Corporation

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