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Plato's Closet

A franchisee is a powerful and effective process that includes the marketing, sale and distribution of products as well as services. Experience of the franchisor and the goodwill of the brand are the vital attributes of a successful franchisee. The franchisor licenses the trademarks and techniques of doing business and performs the distribution of products or services through his associated dealers.

Since 1998, Plato’s Closet locations have sold the latest in gently used, name-brand teen fashions. Stores in the chain only buy current fashions that are in good condition. Plato’s Closet also sells used accessories, books, games, picture frames and other items.

Plato’s Closet buys and sells gently used and new brand-name apparel and accessories for teens and young adults. They focus on the latest styles and the hottest names but because their apparel and accessories are gently used, customers can buy them at greatly reduced prices. These young consumers born between 1977 and today spend more on apparel and accessories than any other generation before them. They are name-brand driven, but cost conscious at the same time.

Plato’s Closet started franchising in 1999. Franchisor has 100 employees and 5 employees in franchise department. Plato’s Closet is owned by Winmark, which also franchises Music Go Round, Once upon a Child, and Play It Again Sports. Plato’s Closet can take your entrepreneurial spirit and back it with solid retail franchise experience. Their parent company is a pioneer in retail recycling with more than 800 franchise stores within its several concepts. Plato’s Closet has already opened 160 plus stores and is one of the hottest franchises in the industry.

The total investment required for this franchise varies from 142,200 to 293,600 dollars, with franchise fees of 20,000 dollars. The ongoing royalty fee is 4 percent. The term of agreement is of 10 years and is renewable. The renewal fee is 5,000 dollars. The company was ranked 165 in 2006, 206 in 2005, 198 in 2004, 287 in 2003 and 332 in 2002 by franchise 500 ranks and ranked 9 in 2006, 11 in 2003 and 23 in 2002 by the top new ranking.

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