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Uptown Cheapskate

2014 Franchise 500
#353
At a Glance

Products & Services: Young-adult-clothing resale store

Number of Locations: 43

Total Investment: $212K - $384.5K

Founded: 2008

Began Franchising: 2008

About Uptown Cheapskate

Uptown Cheapskate is a resale store for young adults that buys and sells name-brand apparel, shoes and accessories. The company, based in Salt Lake City, Utah, started in 2008 and began franchising the same year.

Franchise Units

Year U.S. Canadian International Company Owned
2014 41 0 0 2
2013 30 0 0 2
2012 16 0 0 2
2011 7 0 0 1
2010 3 0 0 1
Where Seeking Franchisees: Franchisor is seeking new franchise units in the U.S.,Australia/New Zealand, Canada, Central America, Eastern Europe, Mexico, South America, Western Europe.
Direct Capital

Startup Costs, Ongoing Fees and Financing

Total Investment: $212,000 - $384,500
Franchise Fee: $25,000
Ongoing Royalty Fee: 5%
Term of Franchise Agreement: 10 years, renewable
Veteran Incentives: 20% off franchise fee
Financial Requirements
Net Worth: $70,000
Liquid Cash Available: $70,000
Operations
Number of employees needed to run franchised unit: 5 - 9. Absentee ownership of franchise is NOT allowed. (100% of current franchisees are owner/operators).
Direct Capital
Financing Type In-House Third Party
Franchise Fee
Startup Costs
Equipment
Inventory
Accounts Receivable
Payroll

How This Franchise Supports Franchisees

Training: Available at headquarters: 2 weeks. At existing store : 1 week.
Ongoing Support: Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives, Lease Negotiation
Marketing Support: Co-op advertising, Ad slicks, Regional advertising,
Other marketing support: In-store marketing materials

Franchise Ranking History

Franchise 500®: #353 (2014), #332 (2013),
Top New: #18 (2013),

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