Plato's Closet
#105

Initial Investment

LOW: $230,950
HIGH: $398,200

Change in Units

+7.1% +31 UNITS (1 Year)
+14.4% +63 UNITS (3 Years)

Promoted Opportunities

Company Profile

Founded

1998

Franchising Since

1999 (17 Years)

Corporate Address

605 Hwy. 169 N., #400 Minneapolis, MN 55441

CEO

John Morgan

Parent Company

Winmark Corp.

Ticker Symbol

About Plato's Closet

Since 1998, Plato's Closet locations have sold the latest in gently used, name-brand teen fashions. Stores in the chain only buy current fashions that are in good condition. Plato's Closet also sells used accessories, books, CDs, games, picture frames and other items.

Plato's Closet is owned by Winmark (formerly Grow Biz), which also franchises Music Go Round, Once Upon A Child, Style Encore and Play It Again Sports.

Financials

Financial Requirements

Initial Investment

$230,950 - $398,200

Net-worth Requirement

$250,000

Liquid Cash Requirement

$69,285 - $119,460

Ongoing Fees

Initial Franchise Fee

$25,000

Ongoing Royalty Fee

5%

Franchise 500® Rank History

Highest Rank: 97

Lowest Rank: 165

Units (Locations)

Where Seeking Franchisees:
Franchisor is seeking new franchise units throughout the U.S. and Canada.

Operations & Franchisor Support

Training at headquarters: 2 weeks

Ongoing Support
Purchasing Co-ops
Meetings
Toll-Free Line
Grand Opening
Internet
Security
Field Operations

Marketing Support
Co-op Advertising

Number of employees required to run: 3 - 5

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Disclaimer

The Franchise 500 is not intended to endorse, advertise, or recommend any particular franchise. It is solely a research tool you can use to compare franchise operations. Entrepreneur stresses that you should always conduct your own independent investigation before investing money in a franchise.

Updated: August 19th, 2015

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