Profitable Plato's Closet For Sale! #1 Franchise in its Category!

Syracuse, NY (Onondaga County)

Highly Profitable Plato's Closet For Sale!
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Asking Price: $450,000

Cash Flow: N/A

Gross Revenue: $847,450

EBITDA: N/A

FF&E: N/A

Inventory: $93,000*

Rent: $7,928 /Month

Established: 2010

*not included in asking price.

Profitable Plato's Closet For Sale! #1 Franchise in its Category!

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Business Description

The Plato's Closet Syracuse is a profitable and turn key store. In addition, the staff and management are excellent! This is the sole territory for Plato's Closet in the Syracuse market with little to no competition in the area!

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.

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

Detailed Information

Location:
Syracuse, NY
Inventory:
Not included in asking price
Real Estate:
Leased
Building SF:
4,000
Lease Expiration:
N/A
Employees:
10+
Facilities:
Excellent location! High visibility! This store is turn key with current design standards implemented in 2018. The proprietary point of sale system was also updated in 2018. The lease was renewed in 2017 for 4 years with an additional 4 year option remaining. Rent increases 2% annually. The landlord has been great.
Competition:
Little to no competition.
Growth & Expansion:
The new owner should continue to to closely manage inventory. Insure staff provides excellent customer service and actively promote and post on social media!
Support & Training:
Support and training is provided by the franchisor.
Reason for Selling:
Retirement, multi unit operator downsizing
Franchise:
This business is an established franchise
Business Website:
http://www.platosclosetsyracuse.com/
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(from currently available funds)
 
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Cat Eckstaedt

Business Listed By:
Cat Eckstaedt

Winmark Corporation

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