Plato's Closet
Plato's Closet
4200 Dahlberg Dr., # 100
Minneapolis, MN 55422-4837
800#: (800) 269-4081
Tel: (763) 520-8500
Fax: (763) 520-8501
E-Mail: [email protected]
Web Site: www.platoscloset.com
Contact: Ms. Kathy Winslow, Franchise Development Coordinator
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
Established: 1997
First Franchise: 1999
Franchise Units: 115
Company-Owned Units: 1
Total Units: 116
Distribution:
U.S. -- 116;
Canada -- 0;
International -- 0
-North America -- Operations in 37 States
-States/Provinces with Greatest Density: 21 in OH, 13 in IN, 9 in GA
Projected New Units Over Next 12 months: 30
Franchisee Qualifications: 5, 4, 2, 2, 2, 4
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Registered in Following Registration States: All States (Click here for an explanation)
Average Number of Employees: NR (FT = Full Time, PT = Part Time)
Space Needs: 2,500-3,000 SF; SC
(Click here for abbreviations)
Encourage Conversion: No
Financial Requirements
Cash Investment: $40-73K
Total Investment: $140-243K
Average Total Investment: $191.5K
Minimum Net Worth: $225K
Fees:
-Franchise: $20K
-Average Franchise Fee: $20.0K
-Royalty: 4%
-Average Royalty: 4.0%
-Advertising: $500/Yr.
Provide Earning Claim Statement: Yes
Terms of Contract
Term of Contract (Years): 10/10
Passive Ownership: Not Allowed
Area Development Agreements: No
Sub-Franchising Contracts: No
Expand In Territory: No
Franchisor Support and Training Provided
Site Selection Assistance: Yes
Lease Negotiation Assistance: Yes
Financial Assistance: No
Cooperative Advertising: No
International Franchise Association: IFA MEMBER
Canadian Franchise Association: CFA MEMBER
Franchisee Association / Member: No
Size Of Corporate Staff: 97
On-Going Support: B,C,D,E,F,G,H,I (Click here for an explanation)
Training: 3 Days Minneapolis, MN; 3 Days Minneapolis, MN; 5-6 Days Minneapolis, MN.
Franchisor's Specific Expansion Plans
U.S.: All United States
Canada: No
Overseas: No
Note: NR = No Response by Franchisor.
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