Successful Plato's Closet! #1 Franchise in Apparel & Accessories!

Sugar Land, TX (Fort Bend County)

Existing Plato's Closet For Sale in Sugar Land, TX
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Asking Price: $250,000

Cash Flow: N/A

Gross Revenue: $607,642

EBITDA: N/A

FF&E: N/A

Inventory: $55,000*

Rent: $6,384.33 /Month

Established: 2006

*not included in asking price.

Successful Plato's Closet! #1 Franchise in Apparel & Accessories!

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Business Description

Plato's Closet Sugar Land has been serving the community for 13 years. This is a high volume location . The owners are multi unit operators looking to downsize for retirement. This location is an excellent opportunity to acquire an existing business and hit the ground running. With some one on one attention this location has limitless potential.

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

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

Detailed Information

Location:
Sugar Land, TX
Inventory:
Not included in asking price
Real Estate:
Leased
Building SF:
3,640
Lease Expiration:
N/A
Employees:
11
Facilities:
This is a class A strip center located directly on the I-69 Southwest Freeway at Dairy Ashford. There are a wide variety of service, restaurant and retail businesses in the center, which is about 95% leased. Highway access is fast and easy. The city of Sugar Land provides excellent services and is business friendly. The landlord has recently completed parking lot renovations. The Landlord is willing to provide a 5 year extension to the existing lease, with a modest escalation of rent. Lease terms are favorable and match the common practice in Houston.
Competition:
This area of Houston is growing rapidly, particularly in the south west. there are some areas toward downtown that have gentrified, with a larger Hispanic population. The store caters to Hispanic shoppers, but can attract excellent product from the more affluent suburbs to the northwest. Plato's Closet doesn't have any direct competition in the market. We serve a niche and paying cash on the spot for people gently used product sets us apart from the competition.
Growth & Expansion:
The store would benefit from additional buying and higher inventory. On site owner management would all increase profits. Spanish-speaking/bilingual staff would be a plus to help serve the large Hispanic population in the area.
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:
The owners are multi unit operators looking to downsize for retirement.
Franchise:
This business is an established franchise
Business Website:
http://www.platosclosetsugarland.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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