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Profitable Plato's Closet! Ranked #1 Apparel & Accessories Franchise!

Lawrence, KS (Douglas County)

Turn Key Plato's Closet For Sale, Owner Retiring!
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Asking Price: $375,000

Cash Flow: N/A

Gross Revenue: N/A

EBITDA: N/A

FF&E: N/A

Inventory: $70,000*

Rent: $8,519 /Month

Established: 2008

*not included in asking price.

Profitable Plato's Closet! Ranked #1 Apparel & Accessories Franchise!

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Business Description

Turn Key and profitable Plato's Closet located in a vibrant college city! This location has been successfully serving the Lawrence, KS community for 11 years. With a fivestar loyalty program, resale Ai programs in place and a lower royalty rate through 2027 this is a prime opportunity to buy and established business!

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

Detailed Information

Location:
Lawrence, KS
Inventory:
Not included in asking price
Real Estate:
Leased
Building SF:
4,000
Lease Expiration:
N/A
Employees:
15
Facilities:
Located on a highly visible street/intersection. Very close to student housing, apartments and the college campus. The lease will expire Sept, 2022 with an optional renewal term of 5 years.
Competition:
A few small resale shops in the area but no direct competition. The University of Kansas is 1/2 mile away with 20,000+ students. Very trendy product and consistent flow of buys from university students.
Growth & Expansion:
Follow the model- community involvement and marketing. Becoming an owner operator on a daily basis and eliminate excess management in order to directly impact store operations.
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.platosclosetlawrence.com/
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Cat Eckstaedt

Business Listed By:
Cat Eckstaedt

Winmark Corporation

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