New Owner of Children's Orchard Has Plans for Quick Growth
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
Entrepreneur Editors' Picks
-
Crypto Doesn't Have to Be Serious. Just Ask This Comedian Who Organized a Conference About Failure in the Industry.
-
Want to Succeed? Turn Your Fixed Mindset Into a Growth Mindset.
-
Google's CEO Is Asking Employees 3 Simple Questions to Boost Productivity
-
'Greatest Storyteller Wins.' Katy Perry on the Surprising Link Between Pop Stardom and Entrepreneurship.
-
How to Unleash Your Creativity and Transform Your Marketing Strategy
-
The 5 Personalities You Meet in a Coworking Space
-
'Man's Best Friend' — and Investment: The Thriving Industry of Pet-Related Franchising