Profitable, turnkey, recession proof, retail store for sale
Business Description
The current, at cost inventory ($105,000) is included in the purchase price. Sales floor decor, fixtures, computer hardware and software are all updated to corporate standards. This highly visible location boasts a favorable lease including storage and office space in a high traffic shopping center with complimentary retail stores and restaurants.
Plato’s Closet®, a Winmark teen resale brand, sets itself apart from other retailers by focusing on a gently used sustainable business model. It is a part of Winmark - the Resale Company®, the leading multi-channel retail franchisor in the resale industry, which has a proven track record of success and more than 1,315 small businesses operating in North America. Plato’s Closet joins current industry top brands such as Play It Again Sports®, Once Upon A Child®, Style Encore® and Music Go Round®.
Plato’s Closet specializes in buying and selling gently used apparel, shoes, handbags, accessories and more. Teens like to have trendy, brand-name pieces in their closet. Plato’s Closet gives them a resource to sell items they no longer wear, get paid cash on the spot, and purchase new items at a tremendous value – at up to 70% off regular retail.
Plato’s Closet®, a Winmark teen resale brand, sets itself apart from other retailers by focusing on a gently used sustainable business model. It is a part of Winmark - the Resale Company®, the leading multi-channel retail franchisor in the resale industry, which has a proven track record of success and more than 1,315 small businesses operating in North America. Plato’s Closet joins current industry top brands such as Play It Again Sports®, Once Upon A Child®, Style Encore® and Music Go Round®.
Plato’s Closet specializes in buying and selling gently used apparel, shoes, handbags, accessories and more. Teens like to have trendy, brand-name pieces in their closet. Plato’s Closet gives them a resource to sell items they no longer wear, get paid cash on the spot, and purchase new items at a tremendous value – at up to 70% off regular retail.
About the Business
- Years in Operation
- 19
- Employees
- 15 (5 Full-time, 10 Part-time)
Our store has a capable, style conscious, friendly leaders and team members. - Franchise
- This business is an established franchise
- Facilities & Assets
- Server, four computer POS stations, 14 cameras and monitor, store music system & speakers, equipment, fixtures, and all initial supplies to run a 3,778 sqft. retail store
- Website
- https://platoscloset.com/locations/memphis-tn/
- Market Outlook / Competition
- The store is in a great location for retail. Trader Joe's is opening in our shopping center (East Gate) later this year. There is not a teen and young adult, casual and athletic focused, thrift store nearby, and certainly not in any comparable location.
- Opportunities for Growth
- The franchisor offers other, complimentary resale stores like Once Upon A Child and Style Encore. There is another year plus on the lease, with an opportunity to extend for five years at a great rate. Same terms with lease for the storage and owner office in Eastgate Office Building.
Real Estate
- Owned or Leased
- Leased
- Building Sq. Ft.
- 3,773
About the Sale
- Seller Motivation
- Retiring
- Transition Support
- The franchisor provides training for all new owners, and current owner will revisit a few of these topics, cover tech on store equipment, and be available during the first business week post-purchase. The supervisory team is available to provide training on specific tasks. The owner provides all vendors and needed contacts,
- Financing Options
- Must provide your own financing. More details after pre-approval from franchisor.
Listing Info
- ID
- 2347618
- Listing Views
- 1282
Business Location
Listing ID: 2347618 The information on this listing has been provided by either the seller or a business broker representing the seller. BizQuest has no interest or stake in the sale of this business and has not verified any of the information and assumes no responsibility for its accuracy, veracity, or completeness. See our full Terms of Use. Learn how to avoid scams.
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