Established & Growing Plato's Closet Franchise

West Palm Beach, FL
listing image
Asking Price:$600,000
Established Year:2009
Gross Revenue:$1,500,000
BUSINESS DESCRIPTION

Entrepreneur Magazine has ranked Plato's Closet #1 in its category

Entrepreneur Magazine has ranked Plato's Closet #1 in its category

Plato's Closet offers a truly unique retail franchise opportunity, as it is the leading national teen/young adult retail store of it's kind - focusing on the buying and selling of gently used, brand-name apparel and accessories for girls and guys! Our stores fill a distinct niche in the retail marketplace. With over 500 stores throughout North America, the average Plato's Closet generates approximately $1,000,000 in annual sales, and that number continues to grow.

This unique business opportunity does not come around often. We have been fortunate to serve the Palm Beach County community with such an incredible concept for 15 years, helping teens stretch their budgets and preserving our environment at the same time through a sustainable and eco-friendly business. We've been able to support our local community by keeping inventory dollars local, creating jobs, and providing affordable fashions that are so important to our young people. Now we are looking to move on to our next opportunity and are looking for a passionate owner to continue to serve our community with the #1 ranked teen resale brand, Plato's Closet. If you're looking for an opportunity to step into an proven business and hit the ground running, Plato's Closet in Palm Beach Gardens, FL may be for you!

*Prospective Buyers must first financially qualify with Franchisor, Winmark Corporation, before financials can be furnished.
*Asking price does not include include inventory that is currently estimated at $130,000. Physical inventory to be completed prior to transfer date.

*Please do not contact store directly or speak to the employees about the sale of the business. Thank you.


DETAILED INFORMATION
Location
West Palm Beach, FL
Inventory
Not Included in asking price
Real Estate
Leased
Building SF
3,330
Employees
20
Facilities
All furniture, retail fixtures and equipment are included in sale. Server and 3 POS are current and supported by Winmark's Franchise Support System. Store is located in an excellent, prime visibility/high traffic location with direct frontage on Northlake Blvd. Location has ample parking and top position on pylon. Located in a busy retail corridor on Northlake Blvd. with nearby businesses such as Target, Costco, Chick-fil-A, Hobby Lobby, and Burlington.
Competition
The retail resale segment is hot right now, representing the fastest growing segment of retail today. This store is an establishment within the Palm Beach County community for the past 15 years and has been experiencing continued growth. We have a strong social media following and an extensive loyalty program that allows us to conduct very effective marketing of events and promotions.
Growth & Expansion
Fantastic growth opportunities are all around. A new owner will be able to see immediate growth through local store marketing, connecting with local high schools, colleges and special events. Jumping into the digital space with Instagram and TikTok advertising will be an easy way to drive additional traffic. There may also be some revenue increase opportunities with a careful strategic increase in some pricing.
Financing
NDA required for financial information
Support & Training
* An extensive training program to prepare you for the business ownership. * Ongoing operations and marketing support from the dedicated franchise team. * Rock-solid relationships with our third-party vendors. *A robust corporate infrastructure that is ready to support the needs of our franchisees * Current owner can help train new owners as necessary.
Reason for Selling
Owner Retiring
Franchise
This business is an established franchise

BUSINESS LOCATION
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Martin C
Martin C