Plato's Closet
Teen- and young-adult-clothing resale stores
Plato's Closet
Teen- and young-adult-clothing resale stores
About
Founded
1998
Franchising Since
1999 (20 Years)
Corporate Address
605 Hwy. 169 N., #400
Minneapolis, MN 55441
CEO
Brett Heffes
Parent Company
Winmark Corp.
Ticker Symbol
Financial Requirements
Initial Investment ⓘ
$255,000 - $400,900
Net-worth Requirement ⓘ
$250,000
Liquid Cash Requirement ⓘ
$75,000
Ongoing Fees
Initial Franchise Fee ⓘ
$25,000 - $25,000
Ongoing Royalty Fee
5%
Financing Options
Plato's Closet has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory
Support Options
Ongoing Support
Purchasing Co-ops
Newsletter
Meetings/Conventions
Toll-Free Line
Grand Opening
Online Support
Security/Safety Procedures
Field Operations
Site Selection
Proprietary Software
Franchisee Intranet Platform
Marketing Support
Co-op Advertising
Ad Templates
National Media
Regional Advertising
Social media
SEO
Website development
Email marketing
Loyalty program/app
On-The-Job Training:
30 hours
Classroom Training:
48 hours
Number of Employees Required to Run:
3 - 5
Plato's Closet is ranked #187 in the Franchise 500!
Bio
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.
Cost
Initial Investment: Low - $255,000
High - $400,900
Units
+1.5%+7 UNITS (1 Year)
+9.1%+40 UNITS (3 Years)
Where Seeking Franchisees:
Franchisor is seeking new franchise units throughout the U.S. and in the following regions/states: Canada
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