Plato's Closet
Yes, we actively support the inclusion and development of minority-owned franchises in the Plato's Closet system.
Plato's Closet
4200 Dahlberg Dr., # 100
Minneapolis, MN 55422-4837
800#: (800) 269-4081
Tel: (763) 520-8500
Fax: (763) 520-8501
E-mail: pc-franchise-development@platoscloset.com
Web Site: www.platoscloset.com
Contact: Ms. Kathy Winslow, Franchise Development Coordinator
PLATO'S CLOSET stores buy and sell gently used, brand-name apparel and accessories for teens and young adults. Customers have the opportunity to sell their used items to a PLATO'S CLOSET store when outgrown and to purchase quality used clothing and accessories at prices lower than new merchandise.
Franchisor Background
Established: 1997
First Franchise: 1999
Franchise Units: 115
Company-Owned Units: 1
Total Units: 116
Distribution:
> North America -- Operations in 37 States
> States/Provinces with Greatest Density: 21 in OH, 13 in IN, 9 in GA
Units Owned by Minorities:
>African-American: 2
>Hispanic:
>Asian-American: 8
>Native American:
>Other:
Average Number of Employees: NR (FT = Full Time, PT = Part Time)
Space Needs: 2,500-3,000 SF; SC
(for abbreviations click here)
Financial Requirements
Cash Investment: $40-73K
Total Investment: $140-243K
Average Total Investment: $191K
Minimum Net Worth: $225K
Fees
>Franchise: $20K
>Average Franchise Fee: $20K
>Royalty: 4%
>Advertising: $500/Yr.
Provide Earning Claim Statement: Yes
Terms of Contract
Term of Contract (Years): 10/10
Passive Ownership: Not Allowed
Area Development Agreements:No
Sub-Franchising Contracts: No
Expand In Territory:No
Franchisor Support and Training Provided
Site Selection Assistance:Yes
Lease Negotiation Assistance: Yes
Cooperative Advertising: No
Franchisee Assoc. / Member: No
Size Of Corporate Staff: 97
On-Going Support: B,C,D,E,F,G,H,I (for an explanation click here)
Training: 3 Days Minneapolis, MN; 3 Days Minneapolis, MN; 5-6 Days Minneapolis, MN.
Specific Minority Program(s) in Place: Although we strongly support the objectives of the NMFI, we do not yet have any specific programs in place at this time.
Franchisor's Specific Expansion Plans
U.S.: All United States
Note: NR = No Response by Franchisor.
For a sample questionnaire click here.
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