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Home >> Clothing & Accessories >> Clothing & Accessories
| Plato's Closet 4200 Dahlberg Dr., # 100 Minneapolis, MN 55422-4837 |
Submit an online form to receive information from Plato's Closet.
|
Business Description
PLATO'S CLOSET stores buy and sell gently used, brand-name apparel and accessories for teens and young adults. Customers have the opportunity to sell their used items to a PLATO'S CLOSET store when outgrown and to purchase quality used clothing and accessories at prices lower than new merchandise.
Franchisor Background
Year Established: 1997
Franchising Since: 1999
North America:
States/Provinces with the largest number of operating units:
Registered in Following Registration States: California, Florida, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington, Wisconsin, District Of Columbia
Financial Requirements
Average Number of Employees: 3 Full-time, 2 Part-time
Space Needs (in square footage): 2,500-3,000
Preferred Sites: Strip Center
Other Sites:
Encourage Conversions? No
Earnings Claims Provided?: Yes
PLATO'S CLOSET stores buy and sell gently used, brand-name apparel and accessories for teens and young adults. Customers have the opportunity to sell their used items to a PLATO'S CLOSET store when outgrown and to purchase quality used clothing and accessories at prices lower than new merchandise.
Franchisor Background
Year Established: 1997
Franchising Since: 1999
| Operating Units: | |||||||||||||||||||||||||||||||
Franchised Units: | 232 | 100% | | ||||||||||||||||||||||||||||
| Company-Owned Units: | 0 | 0% | |||||||||||||||||||||||||||||
Total Operating Units: | 232 | 100.0% | |||||||||||||||||||||||||||||
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States/Provinces with the largest number of operating units:
| Density | Units |
| 1. Florida | 21 |
| 2. Indiana | 15 |
| 3. Ohio | 23 |
Registered in Following Registration States: California, Florida, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Oregon, Rhode Island, South Dakota, Virginia, Washington, Wisconsin, District Of Columbia
Financial Requirements
| Investment: | |
| Minimum Net Worth: | $200K |
| Cash Investment: | $42-92K |
| Total Investment: | $142-307K |
| Average Total Investment: | $224K |
| Fees: | |
| Initial Franchise Fee: | $20K |
| Average Franchise Fee: | $20K |
| On-Going Royalty: | 4% |
| Average Royalty: | 4% |
| Advertising Fee: | $500/Yr. |
Space Needs (in square footage): 2,500-3,000
Preferred Sites: Strip Center
Other Sites:
Encourage Conversions? No
Earnings Claims Provided?: Yes
| Franchisee Qualifications | |||||||||
Ranked from 1 (unimportant) to 5 (important): | |||||||||
| Financial Net Worth: | 5 | ||||||||
| General Business Experience: | 4 | ||||||||
| Specific Industry Experience: | 2 | ||||||||
| Formal Education: | 2 | ||||||||
| Psychological Profile: | 1 | ||||||||
| Personal Interview(s): | 4 | ||||||||
| Terms of Contract | |||||||||
| Term of Initial Contract: | 10 Year(s) | ||||||||
| Term of Renewal Period: | 10 Year(s) | ||||||||
| Passive Ownership: | Not Allowed | ||||||||
| Area Development Agreements? | No | ||||||||
| Sub-Franchising Contracts? | No | ||||||||
| Franchisees Allowed to Expand Within Territory? | No | ||||||||
| Support and Training | |||||||||
| International Franchise Association: | Yes | ||||||||
| Canadian Franchise Association: | Yes | ||||||||
| Franchisee Association/Member: | No | ||||||||
| Size of Corporate Staff: | 97 | ||||||||
| Site Selection Assistance? | Yes | ||||||||
| Lease Negotiation Assistance? | Yes | ||||||||
| Financial Assistance? | No | ||||||||
| Marketing Support: | |||||||||
| Co-Op Advertising: | No | ||||||||
| National Advertising: | No | ||||||||
| Regional Advertising: | No | ||||||||
| Local Advertising: | No | ||||||||
| Marketing Materials: | Ad Slicks, Brochures, Catalogs, Coupons/rebates, Direct Mailers, Emails, Promotional Items, Radio Ads, Site Signs, Television Ads, Trade Show Exhibits, Videos | ||||||||
| Additional Services: | Grand Opening, In-house Marketing, Marketing Research, Newsletter, Online Extranet, Press Releases, Sales Strategies | ||||||||
| Other Marketing Support: | None Specified | ||||||||
| On-Going Support: | |||||||||
| Central Data Processing: | Not Applicable | ||||||||
| Central Purchasing: | Not Applicable | ||||||||
| Field Operation Evaluation: | Included in Fees | ||||||||
| Field Training: | Included in Fees | ||||||||
| Initial Store Opening: | Included in Fees | ||||||||
| Inventory Control: | Included in Fees | ||||||||
| Franchisee Newsletter: | Included in Fees | ||||||||
| Regional or National Meetings: | Included in Fees | ||||||||
| 800 Telephone Hotline: | Included in Fees | ||||||||
| Training: | |||||||||
| 1. Minneapolis, MN | 4 Days | ||||||||
| 2. Minneapolis, MN | 5 Days | ||||||||
| Expansion Plans | |||||||||
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Submit an online form to receive information from Plato's Closet.
|
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