Plato's Closet Franchise Resale

Not Disclosed, OR
Multnomah County

Multnomah County

Asking Price: Annual Revenue:
$375,000 $650,000

Retail: Clothing & Accessories

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RE: Plato's Closet Franchise Resale Broker: Joseph Hollcraft
Owner Financing is Available!
The seller will finance a portion of the transaction for a qualified buyer.

Quick Facts

Asking Price: $375,000
Annual Revenue: $650,000
Net Profit: Not Disclosed
Cash Flow: $190,000
Total Debt: Not Disclosed
FF&E: Not Disclosed
Real Estate: Not Disclosed
Year Established: Not Disclosed
Employees: Not Disclosed
BBN Listing #: 591635781
Broker Reference #: PC2022

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Business Overview:

Outstanding opportunity to own a nationally known clothing retail store for gently worn clothing that targets teenagers and young adults located. The business is strategically located in a family centric community averaging 2.7 persons per household averaging $69K in annual income. This location is surrounded by family-oriented businesses such as Applebee’s, Wendy’s, Old Navy, and other box stores which drives customers into the store. Further, Plato’s has limited competition in the local gently used clothing space helping it stand out among higher priced retailers and highly worn stores.

The future buyer will be acquiring a well operated business in a strategic location benefitting from over 38,000 average vehicles passing the business daily. The nearby household’s income is a match to the store’s target customer – the upper end of lower income and middle-income class. Note, the buyer will also benefit from a five-mile radius circle territory originating at the store without competition from other
franchise owners as part of the existing franchise agreement.

Plato’s Closet is a retail store providing new and gently used clothing of all types for teenagers and young adults (target age ranges from 13-36 and clothing sizes from 00-26 and extra small to 6x). The store has recently started carrying gently used athletic shoes and also carries non-clothing items such as purses, scarves, belts, jewelry, hair clips, shoe laces, pins, stickers, candy, sodas, mobile phone accessories and other miscellaneous items.

This location is open 10 a.m. to 8 p.m. Monday thru Saturday and 11 a.m. to 6 p.m. on Sunday. The current lease runs through December 31, 2030 and has an approximately 5,200 square ft and a monthly rent of $3,365 NNN.

The current owner engages its target customer base thru Instagram posts and other digital marketing campaigns. Plato’s participates in the franchise’s 5 Star rewards programs adding a frequent buyer incentive. The ownership fulfills the roles of a executive manager, external business development and strategic oversight with 4-6hours per week, in addition to leading all operations (approximately 20 hours a week) and hiring / staffing decisions. The store is run by its store supervisor and strong staff. The supervisor is a strong store leader and is supported by 2 strong part time shift supervisors, 2 part time buyers and 3 part time personal shopper assistants.

The future buyer will need to qualify with the franchisor as a qualified franchisee and will need to enlist in a weeklong franchise training program at a cost of $5,000. The franchise charges a royalty fee of 4% and a marketing fee of $1,500 per year which will be assumed by the buyer.

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Additional Details:

  • The property is leased.
  • The owner is willing to train/assist the new owner.
  • This is not a homebased business opportunity.
  • This is a franchise resale opportunity.

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