Plato S Closet Franchise Fees

Section iii initial franchise fee royalty fee marketing fee and other fees for a plato s closet franchise based on items 5 and 6 of the company s 2019 fdd section iv number of franchised and company owned plato s closet outlets at the start of the year and the end of the year for 2016 2017 and 2018 based on item 20 of the.

Plato s closet franchise fees.

How much does it cost to open a plato s closet franchise. Find resale clothes all at up to 70 off retail prices. Low 251 700 high. 15 000 to 25 000 if you are opening a single store you must pay an initial franchise fee of 25 000 to plato s closet.

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. 20 000 is the franchise fee new franchisees pay the franchisor. 176 600 is the minimum that someone opening a location should expect to invest. Plato s closet buys and sells gently used clothing for teens and twenty something boys and girls.

There are currently 243 plato s closet units in operation. The most the franchisor could ask you to invest is 328 900 if you want to become a franchisee. The initial franchise fee is 15 000 if you are currently opening a second or subsequent store or if you are an existing franchisee of one of the franchisor s other franchised concepts. 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.

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. 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.

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. Winmark corporation s years of experience and small business services combined give you a great head start with extensive training and support that includes. Plato s closet is part of a franchise system that has been supporting unique retail franchise businesses since 1987.