Profitable Pittsburgh Area Plato's Closet for sale!

Monroeville, PA (Allegheny County)

Profitable Pittsburgh Area Plato's Closet for sale!
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Asking Price: $374,500

Cash Flow: N/A

Gross Revenue: $806,667

EBITDA: N/A

FF&E: N/A

Inventory: $90,000*

Rent: $7,310 /Month

Established: 2002

*not included in asking price.

Profitable Pittsburgh Area Plato's Closet for sale!

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Business Description

Well established Plato's Closet location in Monroeville, PA is being offered for sale in preparation of the owners retiring. This location has a history of profitability with very favorable franchise and lease terms established through 2020.

Plato's Closet is the only store in the area specializing in gently used, teen/young adult, apparel & accessories.

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. The system wide sales average across over 450 stores is just under $1M. The business and financial model for this brand is unparalleled.

Detailed Information

Inventory:
Not included in asking price
Real Estate:
Leased
Building SF:
6,748
Lease Expiration:
11/15/2020
Employees:
12-14
Facilities:
6,748 SF store with a lease secured through 2020 at $13 SF gross vs. the market avg. of $14-$24 triple net. Our strip center is located on the main road leading to the mall. There is great visibility and ample well lit parking. The store was relocated to the current space in 2010. Leasehold improvements are in good to excellent condition, but will need to be updated to the current decor standards. HVAC replaced in 2016.
Competition:
There are a number of things a new owner can do which should have an impact on top line sales including: Increased social media presence - particularly active posting on Instagram and Facebook. Also, having a local owner with a full-time presence and a hands on management approach to build relationships with customers and staff.
Growth & Expansion:
There is no direct competitors in the immediate area for the teen and young adult market. The Monroeville market is improving economically and the Once Upon A Child (sister brand) in Monroeville is the top store in Pittsburgh area.
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-unit owner looking to downsize operations and retire
Franchise:
This business is an established franchise
Business Website:
http://www.platosclosetmonroeville.com
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Business Listed By:
Cat Eckstaedt

Winmark Corporation

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