Plato’s Closet

Thinking of investing in a Plato’s Closet franchise? We think it’s a great opportunity for anyone looking to open a business with an experienced franchisor behind them. Founded in 1998, Plato’s Closet specializes in Teen- and young-adult-clothing resale stores. As a Clothing franchise, Plato’s Closet has grown to include over 481 (as of 2020) units since they began franchising in 1999 (22 years). It costs an estimated $250,700 – $389,600 to open a Plato’s Closet franchise.

About Plato's Closet

Since 1998, Plato’s Closet locations have sold the latest in gently used, name-brand teen fashions. Stores in the chain only buy current fashions that are in good condition.

Plato’s Closet buys and sells gently used clothes, shoes and accessories, so you can recycle the items you no longer wear and get paid on the spot. We buy styles for all seasons, all day, every day, with no appointment necessary. Each Plato’s Closet location is individually owned and operated by local business owners, so you can feel good about shopping small.

Plato’s Closet is owned by Winmark (formerly Grow Biz), which also franchises Music Go Round, Once Upon A Child, Style Encore and Play It Again Sports.

Shop Sustainably

Can you believe only 15% of clothing is currently being recycled? That’s a lot of fashion going to waste! When you shop at Plato’s Closet, you can save more than money.

We make it easy to extend the life of your clothes, shoes and accessories by buying the items you no longer wear. Your items go onto our racks instead of into landfills helping continue the circle of sustainable fashion. Make a difference and recycle your style with Plato’s Closet!

Not Your Typical Secondhand Clothing Store

At Plato’s Closet®, you’ll find a huge selection of trendy designer styles as well as those every day basics you can’t live without — all at up to 70% off mall retail prices!

We buy gently used teen and young adult clothes, shoes and accessories that are in good condition — no stains.

We buy every day and will pay you cash on the spot, no appointment needed!

Company Founded

1998

Current Leadership

Brett Heffes, CEO

Started Franchising

1999 (22 years)

Total Number of Units

481 (as of 2020)

Part-Time / Full-Time

Full Time

Stock Ticker Symbol

WINA

How Much Does It Cost To Open A Plato’s Closet Franchise?

There are several costs associated with opening a Plato’s Closet franchise. There is typically a franchise fee set by the franchisor, which covers the costs of opening a franchise location. Some other commons fees include equipment fees, marketing fees, licensing fees, insurance, and taxes, to name a few.

Some franchises may have a weekly fee that the franchisee pays for operating a Plato’s Closet franchise. The weekly fee for opening a Plato’s Closet franchise is Continuing Fee Is Due By Wednesday Every Week.

The full breakdown of these fees can be found in the Financial Disclosure Document (FDD) provided to franchisees by the franchisor. The FDD report will contain additional information such as whether the franchise is renewable (Plato’s Closet Is Renewable) and does the franchise offer financing support (Plato’s Closet Plato’s Closet has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory).

Plato's Closet Company Details

Here are some additional details about Plato's Closet.

Parent Company	Winmark Corp.
Initial Investment	$25,000
Net Worth Requirement	$400,000
Royalty Fee	5%
Ad Royalty	$1.5K/yr.
Cash Requirement	$90,000 - $105,000
Term of Agreement	10 years
Absentee Ownership	No
Run from Home	No
Part Time	No

Training and Support Offered By Plato’s Closet

Plato’s Closet offers several support options to its franchisees. With 481 (as of 2020) units, Plato’s Closet aims to provide support to each franchise owner to help them operate a successful franchise location. Plato’s Closet offers 18 hours on the job training, 56 hours classroom training, and No additional training.

Training and Support Offered

Here are the support options offered by Plato's Closet.

On-The-Job Training	18 hours
Classroom Training	56 hours
Additional Training	No
Ongoing Support	Purchasing Co-ops Newsletter Meetings & Conventions Toll-Free Line Grand Opening Online Support Security & Safety Procedures Lease Negotiation Field Operations Site Selection Proprietary Software Franchisee Intranet Platform
Marketing Support	Co-op Advertising Ad Templates National Media Regional Advertising Social Media SEO Website Development Email Marketing Loyalty Program/App

Is Plato’s Closet Right For You?

Plato’s Closet has gone digital! Here are all of the ways you can find Plato’s Closet online. Oftentimes, you can reach out to current franchisees of Plato’s Closet online. Current franchisees may be able to offer personalized insights into what it is like owning a Plato’s Closet franchise and offer tips to running a successful Plato’s Closet franchise location.

Social

Why Should You Start a Plato’s Closet Franchise?

Investing in a Retail franchise such as Plato's Closet can kickstart your franchise portfolio. Our goal at Why Franchise is to provide you with the resources needed to be a successful franchise owner. Fill out the form below to get more information about Plato's Closet franchise and we'll be in touch soon!

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