Business for Sale Overview:
Plato's Closet Pittsburgh has been in operation for nine years. Currently trending with double digit sales increases from last year at gross profit margins of 70%! Plato's Closet buys and sells gently used clothes for teens and twenty somethings. If there's a business that's recession proof this is it!
Franchise Fee for new locations is $25,000 versus the $5,000 transfer fee for this existing business. This store also operates at a 4% royalty versus the 5% new stores pay today.
There's tremendous upside to this business! It's rare that a Plato's Closet resale opportunity comes up so this is definitely worth checking out!
For more information regarding this listing please contact us by completing the "Contact the Seller" form to the left. We look forward to hearing from you.
Property Features and Assets:
3,300 square feet with a lease renewal coming up in August. LL will renew or renegotiate new lease. Currently at about $58,000 per year. Ample parking in both front and rear of location. Great visibility! Large pylon sign on the highway and front of building. Building is in good condition. Mechanicals are sound including HVAC.
Training required by franchisor upon transfer. On-going support includes marketing, advertising, merchandising, financial analysis, inventory management and more. Annual franchisee conferences provide additional opportunities for training and instruction. Franchisor may require an additional investment in working capital or inventory.
Market Competition and Expansion:
No direct competition in the market. Good brand recognition with 3 other Plato's Closet locations in the area.
This location is trending up 21% over last year sales. An owner/operator focusing on increased advertising and local store marketing will see an immediate impact to the bottom line.
Reason for Selling:
Owner retiring
Additional Details:
- The property is leased.
- The owner may be willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is a franchise resale opportunity.
- This is not a distressed business or bankruptcy situation.