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Franchise resources
 | Plato's ClosetChange Your Clothes  |
Business Type
FranchiseMin Liquid Capital
$43,000 to $92,000Total Investment
$142,000 to $307,100Required Net Worth
$200,000Number of Units
116In Business Since
1998
Overview
Thank you for your interest in becoming a member of the Plato's Closet® franchise family. Plato's Closet offers a truly unique retail franchise opportunity, as it is the only national teen retail store of its kind -- focusing on the buying and selling of gently used, brand-name apparel and accessories for girls and guys! We already have over 200 store locations throughout North America, and that number continues to grow.
Making the decision to be your own boss and be in control of your future is an exciting adventure, and we appreciate being considered in your business search. A Plato's Closet franchise offers franchisees a very unique opportunity, based on a sound business model and the support of the parent company, Winmark Corporation.
Making the decision to be your own boss and be in control of your future is an exciting adventure, and we appreciate being considered in your business search. A Plato's Closet franchise offers franchisees a very unique opportunity, based on a sound business model and the support of the parent company, Winmark Corporation.
Products & Services
The first Plato's Closet® store was opened in Columbus, Ohio by founders Lynn and Dennis Blum. Experienced business owners who have a long history of recycling success, they turned to a teenage son to help create the name for the business.
While doing research for a school project, the Blums' son gained much knowledge and respect for the pioneering Greek philosopher, PLATO. His theories of reusing and preservation appeared to be a good parallel to his parents' unique idea of recycling. CLOSET was a natural fit as it relates perfectly to every teen's room and their craze for clothing.
And as they say, the rest is history — There are now over 200 Plato's Closet locations throughout North America.
Plato's Closet® is all about being fashion savvy and shopping smart. We're a nationwide unique recycling retail store specializing in clothes for teens and twenty somethings — we buy and sell the latest looks in gently used clothing and accessories from the hottest brand name designers for girls and guys.
While doing research for a school project, the Blums' son gained much knowledge and respect for the pioneering Greek philosopher, PLATO. His theories of reusing and preservation appeared to be a good parallel to his parents' unique idea of recycling. CLOSET was a natural fit as it relates perfectly to every teen's room and their craze for clothing.
And as they say, the rest is history — There are now over 200 Plato's Closet locations throughout North America.
Plato's Closet® is all about being fashion savvy and shopping smart. We're a nationwide unique recycling retail store specializing in clothes for teens and twenty somethings — we buy and sell the latest looks in gently used clothing and accessories from the hottest brand name designers for girls and guys.
Training & Support
Plato's Closet® is part of a franchise system that has been supporting unique retail franchise businesses since 1987. Winmark Corporation's years of experience and small business services combined give you a great head start with extensive training and support that includes:- Business planning assistance including development of a three-year business plan
- Retail site selection, demographic studies and area market analysis
- Over 75 hours of classroom instruction and in-store training
- Store set-up assistance including store layout, design and build-out direction
- On-site pre-opening and opening support including employee training, merchandising, store operations and service procedures
- Proprietary computer system specifically designed to meet the needs of our unique buying and selling business model
- Access to a toll-free computer support center staffed by technicians that provide assistance with hardware, software and operational questions seven days a week
- Professionally produced advertising and marketing resources including television and radio commercials, direct mail materials, print advertisements, local store marketing programs and much more
- Ongoing small business consultation support from regional field operations staff who work as an analyst, advisor and liaison between the franchise system and the corporate office team
- Annual franchise conferences with networking and training opportunities
- Access to Winmark Business Solutions online resources and business guide
Why Plato's Closet?
Plato's Closet® offers gently used clothing, accessories and more that emphasize popular teen brands and current styles. Our merchandise and environment are cool and trendy, and present a mainstream retail image. Unlike traditional retail, we don't try to create new fashion trends - we respond to actual trends in a timely and value-oriented manner. Our employees are our customers - teens and twenty somethings. They understand customers needs and wants, both from a fashion and value standpoint. They buy only the best fashions giving customers cash on the spot, and price them for sale in store substantially lower than brand name retailers.
Are You a Good Fit for Plato's Closet?
Appropriate capitalization is a critical factor in the success of any business. Therefore, minimum requirements for net worth and liquid assets have been established for those wishing to become a Plato's Closet franchise owner. These figures are representative for each individual location.
Either individually, or with the assistance of a financial partner, applicants will have access to $43,000 to $92,000 in cash or liquid assets* that can be turned into cash. Additionally, the applicant should have assets of $100,000 to $215,000 to be used as collateral to obtain appropriate financing. These financial requirements are based around the total investment costs of the business.
Either individually, or with the assistance of a financial partner, applicants will have access to $43,000 to $92,000 in cash or liquid assets* that can be turned into cash. Additionally, the applicant should have assets of $100,000 to $215,000 to be used as collateral to obtain appropriate financing. These financial requirements are based around the total investment costs of the business.
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