Plato's Closet opened in Dedham in September of 2013. The current franchisee has established a good foundation of local marketing in the community and the customer base is still in the process of growing. Plato's Closet customers are loyal and typically visit the store many times each week because the inventory changes every day. The foundation for growth is established and ready for a new owner to expand and build upon. With system average gross sales for Plato's Closet just over $1M, there's plenty of opportunity with this location.
Plato’s Closet offers a unique retail franchise opportunity, as it is the leading national teen retail store of its kind to offer buying and selling of the name brand gently used teen apparel and accessories.
As the established leader in the teen resale-retail space, Plato’s Closet offers gently-used, brand-name apparel and accessories to both girls and guys at a fraction of the retail cost. With more than 450 locations and more opening every month, Plato’s Closet is the fastest growing franchise in the teen retail space. Acquiring this existing location requires a fraction of the time and investment needed to start a new store from scratch.
If you are looking for an opportunity to build your own team, grow sales and operate a business that is a lot of fun - Plato's Closet in Dedham is worth checking out!
There are a number of things a new owner can do which should have an impact on top line sales including: 1. Inventory management - there are opportunities to purchase more inventory from the customers on a daily basis. The new computer system, Winmark Remote, will provide the buyer with many tools to manage inventory more effectively as well as focus on key categories, tops sellers and more which will ultimately create more sales on the floor. 2. Local marketing can be expanded to areas such as Westwood, Norwood and other southeast communities. This could potentially double the current customer base. 3. Continue invest on marketing efforts. There are two new Plato's Closet locations opening up in the Boston area so there is now an opportunity for co-op advertising, increased customer awareness and sale promotions. 4. Staffing - there are opportunities to provide additional training for the current staff to help retain employees and improve the buying and selling process. There is a good team in place but they need leadership and incentives to reach sales goal for each month.
Asking Price $100,000
Sales Available On Request
Profit Available On Request
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