Profitable Plato's Closet-#1 Franchise in Apparel and Accessories

Utica, MI (Macomb County)

Profitable Plato's Closet For Sale in Utica, Michigan
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Asking Price: $340,000

Cash Flow: N/A

Gross Revenue: $771,996

EBITDA: N/A

FF&E: N/A

Inventory: $100,330*

Rent: $7,150 /Month

Established: 2007

*not included in asking price.

Profitable Plato's Closet-#1 Franchise in Apparel and Accessories

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Business Description

Plato's Closet Utica, MI opened in 2007 and has been a force in their local community. This profitable location practically turn key operation with only a few upgrades that need to be done. With over 5k Facebook followers there

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 business and financial model for this brand is unparalleled.

If you're looking for a profitable business with a proven brand and the opportunity to hit the ground running - Plato's Closet Utica is for you!

Detailed Information

Inventory:
Not included in asking price
Real Estate:
Leased
Building SF:
4,000
Lease Expiration:
1/1/2020
Employees:
3
Facilities:
The store is in a very nicely located strip mall with plenty of parking. The store is located on the very heavily traveled M59/Hall Road, known in Macomb County as the ``Golden Corridor". Strip mall, parking lot, and store space are in good condition. The landlord, while located out of town is easy to work with and contact. The lease is assumable and expires in January 2022.
Competition:
There are no competitors in the area other than other Plato's Closet stores in Rochester, Saint Clair Shores and Madison Heights. Moreover, there is great brand awareness in the area. Pros of the market, dense population, Target w/Starbucks, Taco Bell, and a brand new Krispy Kreme opened in Jan. '19. Cons of the market, very concentrated retail area, was difficult to stand out in the early years. The store needs to constantly be re-establishing a presence in the retail community.
Growth & Expansion:
Somebody with an aptitude for social media and marketing would be able to take this business to the next level. There are many, many high schools and a community college in the area which is a great opportunity
Support & Training:
Training is required and provided by franchisor after purchase of the store is completed. On-going franchisor support includes advertising, marketing, merchandising, inventory and financial management. Additional training and education opportunities available at the annual franchisee conference, trade show and regional meetings. In store support through Field Operations Managers bi-yearly visits. Additional visits are possible if requested. Franchisor may require an additional investment in working capital and brand standard upgrades.
Reason for Selling:
Retirement
Franchise:
This business is an established franchise
Business Website:
http://www.platosclosetutica.com/
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Business Listed By:
Cat Eckstaedt

Winmark Corporation

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