580 Hespeler Road, C7-9, Cambridge, ON
For Sale
$449,000
Plato’s Closet Cambridge
Cambridge, Ontario
Plato’s Closet was ranked the #1 Retail Franchise Investment in the $150,000 – $500,000 range by Forbes Magazine and has been #1 in it’s category in Entrepreneur’s Franchise 500 on an annual basis 2011-2022. In 2021, The system wide sales across 480 stores had ave sales of $1,227,230, and our top 25% of these stores (114 locations) had average gross sales of $1,882,441! The business and financial model for this brand is unparalleled.
As the established leader in the teen resale-retail space, Plato’s Closet offers gently used brand name apparel and accessories to both girls and guys at a fraction of the retail cost.
Business Description
Address: 580 Hespeler Road Cambridge, On, N1R 6J8
Established: 2017
Asking Price: $449,000 plus inventory
Key features:
Plato’s Closet Cambridge has immense growth potential for anyone with a passion for retail and fashion. As the established leader in the teen resale-retail space, Plato’s Closet offers gently used brand name apparel and accessories to both girls and guys at a fraction of the retail cost.
Business Growth & Expansion:
The most immediate impact to increasing sales is having a local owner with a full-time presence and a hands-on management approach. Frequent and consistent training/coaching will drive higher staff performance which will continue to improve the customer experience and increase sales. The Largest opportunity exists in marketing and local store promotion. An increase in the level of social media activity and digital marketing combined with local store marketing to middle schools, high schools, colleges and participation in community events will all drive new customers and increase top line sales.
Plato’s Cambridge Market highlights:
Detailed Information
Real Estate: Leased
Building SF: 3098
Lease Expiration: Jan 31, 2027, with excellent Renewal options
Furniture, Fixtures ( incl Lighting) , & Equipment (FF&E): Included in asking price
Support & Training:
Training required and provided by franchisor after purchase of store is completed. On-going franchisor support includes advertising, marketing, merchandising, inventory and financial management. Additional training and education opportunities available at the annual franchisee conference, trade show and regional meetings. In store support through Field Operations Managers bi-yearly visits. Additional visits are possible if requested. Franchisor may require an additional investment in working capital
Reason for Selling:
Owners have both transitioned into new careers and are needing to relocate.
Enquiries:
Please Email all enquires to David Gardner platosclosetcambridge@gmail.com
Please do not contact store or inquire/ approach employees with questions as they are unaware of sale.
If you’re looking for a thriving and profitable business with untapped room to grow, a great community to operate in with a proven brand, Plato’s Closet Cambridge is for you!
All information is from sources deemed reliable but no warranty or representation is made as to the accuracy thereof and the same is submitted subject to errors, change of price or other conditions prior sale or lease or financing or withdrawal without notice. All information displayed is believed to be accurate but is not guaranteed and should be independently verified. No warranties or representations are made of any kind.