Plato’s Closet
Cherry Franchise Broker
Total investment:
$ 255,000
Franchise fee:
$ 25,000
Royalty fee:
5%
Marketing fee:
$ 0
Number of franchises
Return
Time period
Revenue:
$ 12 000*
* Calculator calculations are provisional, not guaranteed
MAIN INFORMATION
Year founded: 1998
Franchise since: 1999
Company owned units:
Franchise owned units: 479
Total number of units:
Number of employees per unit: 3-5
Contract period: 60 month
FRANCHISE ONLINE
WEBSITEPlato’s Closet purchases and sells used brand name children’s and teenagers’ brand name clothes, shoes, and paraphernalia. It focuses on clothes for people ages 12 to 24. Winmark purchased Plato’s Closet from Dennis and Lynn Blum, the founders of Once Upon a Child, in 1998.
In 2011, there were over 280 franchisees in the United States and Canada. In 2010, the complete cost to start a Plato’s Closet was between $200,000 and $250,000 and the average yearly sales were $825,000.
On-The-Job Training: 30 hours
Classroom Training: 48 hours
Net-worth Requirement: $250,000
Liquid Cash Requirement: $75,000
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