Unique, Profitable Resale Franchise For Sale!

Lyndhurst, NJ (Bergen County)

Unique, Profitable Resale Franchise For Sale!
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Asking Price: Get Financing: $250,000

Cash Flow: N/A

Gross Revenue: $556,000

EBITDA: N/A

FF&E: N/A

Inventory: $57,000*

Lease Rate: $8,028 /Month

Established: 2015

*not included in asking price.

Unique, Profitable Resale Franchise For Sale!

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Business Description

ABOUT THIS STORE:
Plato's Closet entered the Lyndhurst market in 2015 and has seen solid growth each month. Plato's Closet of Lyndhurt is a unique, profitable business with no direct competitors in the area. Because of our distinct position in the market, we attract customers as far as a 20 mile radius, not just within the immediate area. Our business is all about repeat customers that buy from us and sell their merchandise to us. Because of the value we bring and the constantly changing selection on-hand everyday we have established many loyal customers that come in weekly or 2x a week. With the most current look and feel, our store is fully compliant with the franchise branding standards so this is a completely turn-key business for a new owner to hit the ground running!

ABOUT PLATO"S CLOSET:
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 bases. The system wide sales average across nearly 440 stores is just under $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!

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

Detailed Information

Inventory:
Not included in asking price
Real Estate:
Leased
Building SF:
3,013
Lease Expiration:
4/1/2025
Employees:
9
Facilities:
3,013 SF space located in Lyndhurst Town Center on Valley Brook Ave and Delafield Ave. Plenty of parking available for customers and staff. Excellent co-tenancy with local and national retailers such as Pet Valu,TJ Maxx, Rite Aid, Dollar Tree, Payless Shoes, and Dunkin Donuts.
Competition:
There are no significant competitors in the immediate area. While there are value and discount retailers in the market, no one is able to compete with Plato's Closet's value by paying our customers cash on the spot for their gently used clothing.
Growth & Expansion:
The biggest impact a new owner can have on top line sales is with a local, full-time presence and a hands on management approach to build relationships with customers and staff. Just keep buying great merchandise from the customers and maintain a strong social media presence, there will be plenty of opportunity for sales growth.
Support & Training:
Training required and provided by franchisor upon transfer. Additional ongoing support includes marketing and advertising, merchandising, inventory and financial management. New product buying group for great pricing on new equipment and freight charges. Ongoing educational and support opportunities through field staff, conferences, trade shows and more.
Reason for Selling:
Moving oversees to be with family
Franchise:
This business is an established franchise
Business Website:
http://www.platosclosetlyndhurstnj.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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