KEY FRANCHISE STATS
All you need to know about this franchise in a snapshot
Founded in 1998 in Columbus, Ohio, Plato's Closet specializes in buying and selling gently used, name-brand clothing and accessories for teens and young adults. Franchising since 1999, it has grown to over 500 locations across North America, operating under Winmark Corporation.
Plato's Closet stands out by offering trendy, affordable fashion while promoting sustainability through clothing recycling. Its unique model allows customers to both sell their gently used items and shop for stylish, budget-friendly options.
By combining fashion-forward offerings with environmental responsibility, Plato's Closet has become a leader in the resale retail space.
Here's what you would need to invest if you were to start this franchise. These costs are provided by the franchisor in the Franchise Disclosure Document.
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Plato's Closet provides a two-part training program to its franchisees. The first session focuses on general business practices related to operating a Plato’s Closet® store. This includes training on topics such as real estate, business plan development, inventory management, and point-of-sales systems.
The second session expands on this foundation with training in sales and marketing, inventory purchasing, computer operations, and store management.
Both sessions are mandatory, and franchisees must successfully complete them to manage their stores. Additionally, the franchisor offers ongoing support such as refresher courses and seminars to enhance the franchisee's skills.
Plato's Closet offers territory protection to its franchisees through a defined "Exclusive Territory" agreement. This protection ensures that during the term of the agreement, the franchisor will not allow the establishment of another Plato’s Closet store within the specified territory.
However, this exclusivity does not restrict the franchisor or its affiliates from selling products or services under different trademarks within or outside the territory, nor from selling through other channels like the internet.
While the Exclusive Territory grants certain protections, it does not guarantee market penetration or specific sales volumes. Franchisees must adhere to relocation guidelines if they wish to move their store within the development area, and the franchisor reserves the right to approve new locations based on proximity to other stores and the retail area's demographics.
