Profitable and Popular Plato's Closet Clothing Store

Traverse City, MI (Grand Traverse County)

Clean, Organized and Full of Quality Inventory!
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Asking Price: Get Financing: $250,000

Cash Flow: N/A

Gross Revenue: N/A

EBITDA: N/A

FF&E: N/A

Inventory: $85,000*

Established: 2013

*not included in asking price.

Profitable and Popular Plato's Closet Clothing Store

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Business Description

Plato's Closet opened in Traverse City in 2013 and has already built a large and loyal base of customers. Our customers typically shop the store multiple times each week as the inventory changes daily.

The store location is great, the staff is excellent and the location has a solid lease in place. All of which makes for a smooth, turn key transaction!

If there’s one thing consistent 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 others that others spend on them!

As the established leader in the teen resale-retail industry, Plato’s Closet offers gently-used, brand-name apparel and accessories to both gals and guys at a fraction of the retail cost. With more than 450 locations and more opening every month, Plato’s Closet is the fastest growing franchise in teen resale.

If you're looking for an opportunity to take over a thriving business in Traverse City with still plenty of room to grow sales, this is worth checking out!

Detailed Information

Inventory:
Not included in asking price
Employees:
10 most PT
Facilities:
4,700 square foot space in a well-maintained, relatively new strip center. The center is located equidistant from both downtown Traverse City and the mall so drive by traffic is excellent. The co-tenants in the center all drive similar demographics as Plato's Closet and include a coffee shop, hair salon, nail salon, tanning and more. Space is under a 5 year lease with a 5 year option.
Competition:
This is the only Plato's Closet within 150 miles. While the Traverse City market may be small competition is minimal so this location owns the local business as well as the surrounding communities.
Growth & Expansion:
The franchisees have other business interests that are taking them away from a full-time presence in the store. A franchisee actively working this business as their primary focus will have an immediate impact on sales.
Support & Training:
Training provided and required by franchisor upon ownership. 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:
Other business interests
Franchise:
This business is an established franchise
Business Website:
http://www.platosclosettraversecity.com
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(from currently available funds)
 
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Business Listed By:
Cat Eckstaedt

Winmark Corporation

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