Profitable Turn-Key Chicago Suburbs Plato’s Closet Store For Sale!

Algonquin, IL (McHenry County)

Profitable Turn-Key Chicago Suburbs Plato’s Closet Store For Sale!
Contact Seller

Asking Price: Get Financing: $195,000

Cash Flow: N/A

Gross Revenue: N/A

EBITDA: N/A

FF&E: N/A

Inventory: $73,000*

Established: 2010

*not included in asking price.

Profitable Turn-Key Chicago Suburbs Plato’s Closet Store For Sale!

Get Financing Save Print Share Valuation Report

Business Description

ABOUT THIS STORE:
Opportunity to own a turn-key profitable Plato’s Closet store in a highly visible high traffic strip mall location across the street from the Algonquin Commons which offers brand name stores such as American Eagle, Hollister, Aeropostale, Old Navy, Express, Tillys, Victoria Secret/Pink, Walmart, etc. There are more than 50,000 households with a growing population over 150,000 people within a 5 mile radius of the store, and 1.5 Million population and 530,000 households within a 20 mile radius of the store. The store draws customers from a 15 mile radius and beyond.

With Plato’s Closet brand recognition, there is ample opportunity for additional sales growth thru direct digital and social media marketing, targeted brand marketing, additional focus on conjunctive marketing with the multiple local schools and community colleges and overall enhanced marketing approach.

The assignable store lease is structured so that only minimal rent increases would occur thru 2025 with first right of refusal to the adjacent space on either side for future store expansion.

The store has been annually awarded Winmark’s Gold Standard in which strict physical store and operational standards are required to be maintained which attributes to the store’s loyal customer base.

The current owner is retiring, but is open to assisting with the operational and day-to-day transition to a new owner.

ABOUT PLATO'S CLOSET:
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 over 475 locations and more opening every month, Plato’s Closet is the fastest growing franchise in the teen retail space.

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 more than 475 stores is over $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!

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

Detailed Information

Inventory:
Not included in asking price
Employees:
11 (1 FT, 10 PT)
Facilities:
Plato’s Closet Algonquin resides in a highly visible high traffic modern strip mall location across the street from the Algonquin Commons which offers stores such as Aeropostale, American Eagle, Hollister, Tillys, Victoria Secret/Pink, Walmart, etc. There are more than 50,000 households with a growing population over 150,000 people within a 5 mile radius of the store. The store draws customers from a 15 mile radius and beyond and has no direct competition within a 19 mile radius. The assignable lease is structured so that only minimal rent increases would occur thru 2025 with first right of refusal to the adjacent space on either side for future store expansion. The store has been awarded Winmark’s Gold Standard annually in which strict physical store and operational standards are required to be maintained. The store is being sold turn-key including organized processes and procedures, a strong inventory, fixtures, supplies, signage, technology, security, etc.
Competition:
Chicagoland Area -- Brand Recognition, Shared Advertising, No other national brand re-sale clothing stores within 19 mile radius, Plato’s Closet is the dominant resale clothing brand in the Chicagoland area.
Growth & Expansion:
Further marketing and involvement with many local schools, much opportunity in direct target marketing via social media, much additional opportunity expanding target marketing to communities beyond 5 mile radius, Creative targeted marketing on hot brands, deploy some of the marketing dollars currently being used for radio/online radio to social media, internet marketing and other direct target marketing.
Support & Training:
Training required and provided by franchisor upon transfer. Additional ongoing support includes marketing and advertising, merchandising, inventory and financial management. Ongoing educational and support opportunities through field staff, conferences, trade shows and more.
Reason for Selling:
Retirement
Franchise:
This business is an established franchise
Business Website:
http://www.platosclosetalgonquin.com
Contact Seller

Contact the Seller

(from currently available funds)
 
Contact Seller Loading

Pete First

Business Listed By:
Cat Eckstaedt

Winmark Corporation

Show Phone Number

View My Listings

Listing Statistics

Saved This Listing:
Unlock
Days Active On Site:
Unlock
Appeared in Search:
Unlock
Listing Detail Views:
Unlock


Ad#:1458348 Report an issue with this listing

The information in this listing has been provided by the business seller or representative stated above. BizBuySell has no stake in the sale of this business, has not independently verified any of the information about the business, and assumes no responsibility for its accuracy or completeness.
Read BizBuySell's Terms of Use before responding to any ad.


Similar Listings


Fully Promoted

Franchise Opportunity
Capital Required: $174,000