Plato'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.
Plato's Closet has the franchise fee of up to $25,000, with total initial investment range of $255,000 to $400,900.
Initial investments: $255,000 - $400,900
Net-worth Requirement: $250,000
Liquid Cash Requirement: $75,000
Initial Franchise Fee: $25,000
Ongoing Royalty Fee: 5%
On-The-Job Training: 30 hours
Classroom Training: 48 hours
Number of Employees Required to Run: 3 - 5
Plato's Closet Franchise Info: http://www.winmarkfranchises.com
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