Clothes Mentor
4350 Baker Rd., # 350
Minnetonka, MN 55343
USA
-
(866) 261-2030
/
(952) 923-1223
- (952) 923-1224 (Fax)
Our women's fashion resale business creates loyal, repeat customers who love Clothes Mentor for its tremendous value: a wide variety of name-brand and designer clothing, shoes and accessories in like-new condition for about 70% off of mall store pricing. Stores provide a great shopping experience in a well-lit, highly organized and beautifully designed space. Clothes Mentor’s resale business model is different than consignment or thrift. It includes buying merchandise directly from customers for cash on-the-spot. In comparison, consignment stores only pay customers a percentage of the profit when (or if) their specific merchandise sells. Thrift stores, on the other hand, usually don’t pay customers for merchandise at all, accepting donated goods for inventory. Clothes Mentor customers love the convenience of cash on-the-spot and the opportunity to update their wardrobes with unique pieces on a regular basis—for less!
Franchisor Background
Year Established: 2001
Franchising Since: 2006
Operating Units
| Franchised Units |
136 |
99.3% |
| Company-Owned Units |
1 |
0.7% |
| Total Operating Units |
137 |
100% |
Geographic Distribution
| USA |
137 |
100.0% |
In 29 States
|
| Canada |
0 |
0.0% |
In 0 Provinces
|
| International |
0 |
0.0% |
In 1 Foreign Countries
|
| Total |
137 |
100% |
|
Multi-Unit Operators
| Multi-Unit Operators |
N/A |
| Franchises Owned by Multi-Unit Operators |
N/A |
North American Unit Density
| Density |
Units |
| Ohio |
16 |
| Texas |
15 |
| Illinois |
12 |
Registered in the following Registration States
California, Florida, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, South Dakota, Virginia, Washington, Wisconsin
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Support and Training
General Information
| IFA Member |
Yes |
| CFA Member |
No |
| Franchisee Association? |
No |
| Size of Corporate Staff |
22 |
Site Selection
Assistance |
Yes |
| Lease Negotiation Assistance |
Yes |
| Financial Assistance |
No |
Marketing Support
| Co-Op Advertising |
Yes |
| National Advertising |
No |
| Regional Advertising |
No |
| Local Advertising |
Yes |
| Marketing Materials |
Ad Slicks, Brochures, Coupons/Rebates, Direct Mailers, Emails, Promotional Items, Radio Ads, Site Signs, Television Ads, Videos
|
| Additional Services: |
Grand Opening, In-House Marketing, Newsletter, Online Extranet, Press Releases, Sales Strategies
|
Ongoing Support
| Central Data Processing |
Yes, at additional cost |
| Central Purchasing |
N/A |
| Field Operation Evaluation |
Included |
| Field Training |
Included |
| Initial Store Opening |
Included |
| Inventory Control |
Included |
| Franchisee Newsletter |
Included |
| Regional or National Meetings |
Yes, at additional cost |
| 800 Telephone Hotline |
Included |
Training
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Financial Requirements
Investment
| Minimum Net Worth |
$300K |
| Cash Investment |
$75K |
| Total Investment |
$198-297K |
| Average Total Investment |
$248K |
Fees
| Initial Franchise Fee |
$20K |
| Average Franchise Fee |
$20K |
| On-Going Royalty |
4% |
| Average Royalty |
N/A |
| Advertising Fee |
5% |
Site Information and Requirements
| Average Number of Full-Time Employees |
2 |
| Average Number of Part-Time Employees |
8 |
| Space Needs (in square feet) |
3000
|
| Preferred Site Types |
Strip Center
|
| Encourages Conversions |
Yes |
| Item 19 (Earnings Claim) Provided? |
Yes |
| Listed in the SBA Registry? |
Yes |
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Franchisee Qualifications
| Financial Net Worth |
5 |
| General Business Experience |
3 |
| Specific Industry Experience |
2 |
| Formal Education |
3 |
| Psychological Profile |
2 |
| Personal Interviews |
5 |
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Terms of Contract
| Term of Initial Contract |
10 |
| Term of Renewal Period |
10 |
| Passive Ownership? |
Not Allowed |
Area Development
Agreements? |
No
|
Sub-Franchisor
Contracts? |
No |
| Franchisees Allowed to Expand Within Territory? |
No |
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Expansion Plans
| Projected New Units Over Next 12 Months |
16 |
| USA |
Yes, All United States |
| Canada |
No |
| Overseas |
No |
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