Plato S Closet Franchise Cost

Please click here for detailed estimates of plato s closet franchise costs based on item 7 of the company s 2019 fdd.

Plato s closet franchise cost. We re a used clothing store that offers a huge selection of current trendy styles as well as every day basics you can t live without. Plato s closet is part of a franchise system that has been supporting unique retail franchise businesses since 1987. The estimated investment required to open a plato s closet franchise is between 251 700 390 700. 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.

How much does it cost to open a plato s closet franchise. Section iii initial franchise fee royalty fee marketing fee and other fees. We qualify candidates on an approximate investment of 275 000 to 350 000 however this investment will vary depending on the market and other factors. 187 on entrepreneur s 2019 franchise 500 list.

Winmark corporation s years of experience and small business services combined give you a great head start with extensive training and support that includes. Estimated number of units. The average store numbers are the 2019 average gross sales and average gross profit amounts stated in item 19 of the 2020 plato s closet franchise disclosure document as reported by 453 of the 454 stores that had been in operation at least one year as of december 28 2019. Section ii estimated costs.

To open a single clothing accessories location the company requires that potential franchisees have liquid assets of at least 230 700. The most the franchisor could ask you to invest is 328 900 if you want to become a franchisee. Owning a plato s closet clothing accessories franchise can be a lucrative business but it does have some initial financial requirements. Plato s closet ranked no.

There is an initial franchise fee of 25 000 which grants you the license to run a business under the plato s closet name. As in any successful start up business proper capitalization from day 1 is key. 176 600 is the minimum that someone opening a location should expect to invest. How much does it cost to open a plato s closet franchise.

Winmark corporation is the franchisor the franchisee will own and operate a plato s closet retail store from which the franchisee will sell quality used and new brand name teen and young adult clothing and accessories. There are currently 243 plato s closet units in operation. 20 000 is the franchise fee new franchisees pay the franchisor.