New Owner of Children's Orchard Has Plans for Quick Growth
Opinions expressed by Entrepreneur contributors are their own.
Detroit-Ann Arbor-based Children's Orchard Inc. a retailer of "gently used" children's clothes, has a new owner who plans to expand the company's 92 franchises quickly. Taylor Bond, former part owner, CEO and president of Online Technologies Corp. and several other investors bought Children's Orchard for between $3 million and $5 million.
Children's Orchard has lost about a dozen franchisees in recent years, but former owner Walter Hamilton said the company regained momentum last year and signed a handful of new franchisees.
Bond said his plan is to add stores to markets with existing stores, especially in California, Texas and Massachusetts. Children's Orchard has stores in 22 states. -Crain's Detroit Business
