Plato's Closet Franchise Information

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Promoted Opportunities

#151

Initial Investment

LOW: $238,100

HIGH: $398,300

Change in Units

+5.7% +25 UNITS (1 Year)

+23.4% +88 UNITS (3 Years)

Company Profile

Founded

1998

Franchising Since

1999 (18 Years)

Corporate Address

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

CEO

Brett Heffes

Parent Company

Winmark Corp.

Ticker Symbol

WINA

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

$238,100 - $398,300

Net-worth Requirement

$250,000

Liquid Cash Requirement

$71,430 - $119,490

Ongoing Fees

Initial Franchise Fee

$25,000 - $25,000

Ongoing Royalty Fee

Units (Locations)

Where Seeking Franchisees:
Franchisor is seeking new franchise units throughout the U.S. and in the following regions/states: See List

Operations & Franchisor Support

Training Onsite: 4 days

Training at headquarters: 10 days

Ongoing Support

Meetings

Toll-Free Line

Grand Opening

Field Operations

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: May 15th, 2017

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Promoted Opportunities

Initial Investment

Change in Units

Company Profile

Founded

Franchising Since

Corporate Address

CEO

Parent Company

Ticker Symbol

About Plato's Closet

Financials

Financial Requirements

Initial Investment

Net-worth Requirement

Liquid Cash Requirement

Ongoing Fees

Initial Franchise Fee

Ongoing Royalty Fee

Units (Locations)

Operations & Franchisor Support

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