Turn Key - Profitable Plato's Closet

San Mateo, CA (San Mateo County)

Beautiful New Brand Design!
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Asking Price: Get Financing: $165,000

Cash Flow: N/A

Gross Revenue: $635,000

EBITDA: $94,000

FF&E: $115,000

Inventory: $45,000

Lease Rate: N/A /SF

Established: 2008

Turn Key - Profitable Plato's Closet

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Business Description

Plato's Closet San Mateo is a completely up-to-date, turn-key business! This highly profitable business benefits from abundant foot traffic in downtown San Mateo and devoted customers who have been buying from and selling to the store for over 10 years. Key features:

* Buyer inherits reduced royalty rate until 11/14/2027

* Store redesign in November 2017 with lifestyle signage, painted walls, dressing room flooring

* Brand new POS computer system and touch screen monitors in January 2018

* Minimal competition between SF and San Jose...this store owns the market!

* Lots of high quality inventory sold to us from upscale loyal regulars (Lululemon, Kate Spade, Adidas, Michael Kors, Coach, Brandy Melville, etc.)

* Staff trained to buy, sell, open / close, and post amazing images to store social media accounts

This is an opportunity to step into a fully operational store with trained staff, inventory and back stock in place, regular clients, marketing email list and social media following already set-up!! If you're looking for an opportunity to take over a thriving business in San Mateo with plenty of room to grow sales, this is worth checking out!

Detailed Information

Inventory:
Included in asking price
Real Estate:
Leased
Building SF:
3,445
Lease Expiration:
7/31/2023
Employees:
1FT, 8PT
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Favorable lease in a busy area of San Mateo. New store design and layout. Tons of foot traffic in popular downtown San Mateo. The store looks very nice after the November 2017 store redesign and new POS computer system updates in January 2018 Rent is extremely low for the area
Competition:
Very little used clothing competition outside of Crossroads Trading and Buffalo Exchange in San Francisco This location owns the market for 40 miles between San Francisco and San Jose
Growth & Expansion:
The market is very receptive to the concept and there is high population density + minimal competitors. There's still opportunities to grow the Plato’s Closet brand to provide increased awareness and brand recognition in the Bay Area.
Support & Training:
Training provided by franchisor upon transfer. Additional support in Marketing/Advertising, merchandising, inventory management, financial analysis through both field and remote visits. Additional training opportunities at National and Regional franchisee meetings and conferences.
Reason for Selling:
Retiring after 10 years in retail business
Franchise:
This business is an established franchise
Business Website:
http://www.platosclosetsanmateo.com
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(from currently available funds)
 
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Pete First

Business Listed By:
Pete First

Winmark Corporation

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