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2022 Franchise 500 Rank
#178 Ranked #117 last year
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Initial investment
$346K - $544K
Units as of 2022
102 39.7% over 3 years

Here’s what you need to know if you’re interested in opening a Uptown Cheapskate franchise.

Uptown Cheapskate is an upscale retailer with a twist. The first Uptown Cheapskate store opened in Salt Lake City, Utah, in 2008. Now, the company has more than 75 locations across the country. The business is family-owned and anchors around a solid reseller clothing concept that allows customers to purchase near-new fashion items at thrift prices. Instead of following the traditional method of consigning clothes, the store buys lightly used fashion garments and accessories and sells them for a fraction of their regular prices. 

Why You May Want to Start an Uptown Cheapskate Franchise

If you're a franchisee looking to provide a service to your community, Uptown Cheapskate may be the investment for you. The concept is a fantastic way to recycle clothes, keeping them out of landfills. It also helps communities save cash. Additionally, the store supports school-building initiatives in developing countries through bi-annual sales.

Uptown Cheapskate has also established a business model that keeps the store easy to manage, scalable, and sustainable outside its social value. The company strives to provide top-tier support for franchisees, ensuring they get all the help they need from day one. Because of this, a franchisee doesn't need experience in retail, just a willingness to work within the company's model and a passion for their business.

The culture of Uptown Cheapskate revolves around giving back. Because of this, the company encourages franchisees to choose the local charities their store supports.

What Might Make Uptown Cheapskate a Good Choice?

Multiple times in the past few years, Uptown Cheapskate has been ranked in Entrepreneur's Franchise 500 based on an evaluation of more than 150 data points in the areas of costs and fees, size and growth, franchisee support, brand strength, and financial strength and stability. 

Just because Uptown Cheapskate is an upscale retail franchise doesn't mean it's expensive to own. In fact, Uptown Cheapskate is one of the cheaper brands in the resale business. A franchisee may take advantage of these lower costs and a resale industry that may exceed the fashion industry over time. 

How to Open an Uptown Cheapskate Franchise

To be part of the Uptown Cheapskate team, you should make sure you're financially ready for an initial investment, including a franchise fee and potential startup fees. Franchisees should also expect to contend with royalty fees and advertising fees, as well as a potential renewal fee.

Consider the location in which you'd want to open your Uptown Cheapskate. If there are income discrepancies in your area, it may be nice to provide part of the community with a more affordable retail option. Millennials and Gen Z are making strides to reduce the fashion impact on the environment. With this effort, they are buying more second-hand clothing options. Because of this, you may find success near a university campus, where students may not be making full-time income.

Once you have decided the franchise is right for you and they see you have the financial background they're looking for, you will go through a thorough training program. It won't be until you complete inventory training that you'll be able to open the doors to your franchise.

Find Your Perfect Franchise

Company Overview

About Uptown Cheapskate

Industry
Retail
Founded
2008
Parent Company
BaseCamp Franchising
Leadership
Darin Hicks, CDO

Franchising Overview

Franchising Since
2008 (14 years)
# of employees at HQ
50
Where seeking

This company is seeking new franchisees throughout the US.

This company is seeking new franchisees worldwide.

# of Units
102 (as of 2022)

Franchisor Information

Social
Facebook, Twitter
Corporate Address
39 E. Eagle Ridge Dr., #100
North Salt Lake, UT 84054

Information for Franchisees

Here’s what you need to know if you’re interested in opening a Uptown Cheapskate franchise.

Financial Requirements & Ongoing Fees

Here’s what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.

Initial Franchise Fee
$25,000
Initial Investment
$346,279 - $544,339
Net Worth Requirement
$200,000
Cash Requirement
$75,000 - $125,000
Veteran Incentives
20% off franchise fee
Royalty Fee
5%
Ad Royalty Fee
0.5%
Term of Agreement
10 years
Is franchise term renewable?
Yes
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Financing Options

Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.

Third Party Financing
Uptown Cheapskate has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll

Training & Support Offered

Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.

On-The-Job Training
33 hours
Classroom Training
65.5 hours
Additional Training
At existing store
Ongoing Support
Purchasing Co-ops
Newsletter
Meetings & Conventions
Toll-Free Line
Grand Opening
Online Support
Security & Safety Procedures
Lease Negotiation
Field Operations
Site Selection
Proprietary Software
Franchisee Intranet Platform
Marketing Support
Co-op Advertising
Ad Templates
National Media
Regional Advertising
Marketing Planning & Support
Social Media
SEO
Website Development
Email Marketing
Loyalty Program/App

Operations

Additional details about running this franchise.

Is absentee ownership allowed?
No
Can this franchise be run from home/mobile unit?
No
Can this franchise be run part time?
No
# of employees required to run
5-9
Are exclusive territories available?
Yes
Take our quick quiz to find your ideal franchise

Interested in franchise ownership like Uptown Cheapskate? Request a free consultation with a Franchise Advisor now.

Franchise 500 Ranking History

Compare where Uptown Cheapskate landed on this year’s Franchise 500 Ranking versus previous years.

Additional Rankings

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Disclaimer
The information on this page is not intended as an endorsement or recommendation of any particular franchise by Entrepreneur Media. Our franchise listings and rankings are solely research tools you can use to compare franchise operations. Entrepreneur stresses that you should always conduct your own independent investigation before investing in a franchise. That should include reviewing the franchisor's legal documents, consulting with an attorney and an accountant, and talking to former and current franchisees.
Updated: February 8th, 2021