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Listed by:

Transworld Business Advisors Greenville East

Owner Financing Resale Franchise $1MILLION For Sale

Buncombe County, North Carolina, US
Asking Price:
$599,900 Furniture / Fixtures and Inventory / Stock included
Sales Revenue:
$1,202,965
Cash Flow:
$233,000

Owner Financing Resale Franchise $1MILLION+ in sales and 20%+ SDE

Owner Financing for right Buyer, Franchisor requires one year residency. Are you looking for a thriving business opportunity in the resale market? Look no further than Plato's Closet Asheville, a well-established resale store located in North Carolina, United States. With over 15 years of experience in the recycled clothing market, Plato's Closet Asheville has become the go-to destination for teen and young adult styles and brands in the community. Originally founded by dedicated owners who operated the business successfully for 8 years, Plato's Closet was then acquired by the current owner in 2017. Since then, the business has seen remarkable growth, with sales surpassing $1.2 million annually. The secret to this success? A relentless focus on delivering exceptional customer service, fostering community awareness, and maintaining a strong inventory management system. One of the standout features of Plato's Closet Asheville is its unique buying process, where local community members can sell their gently-used clothes and shoes for cash on-the-spot, totaling over $450,000 in payouts each year. This not only provides customers with much-needed funds but also creates a strong bond between the store and its community. The potential for growth in this business is limitless, especially with a strategic focus on targeting key demographic drivers such as students and high-growth diverse communities. By tapping into the values of affordability, authenticity, and digital connection, there is a prime opportunity to further expand the customer base and drive revenue. If you are a savvy entrepreneur looking for a turn-key resale store with a loyal customer base and proven track record of success, Plato's Closet Asheville is the perfect investment for you. With an experienced management team in place and a solid foundation already established, you can step into this thriving business and take it to new heights. To learn more about this exciting business opportunity,

Property Information

Real Estate:

Lease

Location:

Plato's Closet Asheville, the place to shop for teen and young adult styles and brands, has been the leader in the recycled clothing market in Asheville for over 15 years! The original owners opened Plato's Closet and operated
the business for 8 years before selling it to the current owner, who built upon the previous owner's success and took it to the next level through delivering excellent customer service and developing awareness for the business throughout the community. Aside from selling gently-used clothes and shoes, Plato's Closet buys items daily from
it's local community members. Plato's Closet pays customers over $450,000 each year with cash "on-the-spot" for
the items they sell to the store. This provides community members with money to buy the necessities they need
such as gas, food, meds, etc. When the current owner bought the business in 2017 it was producing
approximately $850k in sales. Today, Plato's Closet Asheville grosses over $1.2m in sales which speaks to the growth driven by the active involvement of the owner and effective management team. Attentive customer service,
daily inventory management, expanded advertising efforts, and employee development are key areas of this
business that the owner and management team focus on to continue to maintain and grow the business.

Business Operation

Expansion Potential:

The biggest growth opportunities for a resale apparel store like this one lie in strategically dominating the two core
demographic drivers of the secondhand market: the youth (students) and high-growth diverse communities (Latino/Hispanic).These are not separate customer segments but often overlap, and a generalized strategy should focus on the common values that attract both groups: affordability, authenticity, and digital connection.

Competition / Market:

Our excellent customer service, consistently organized racks of clothes, and the ongoing building of relationships with new and repeat customers. Plato's Closet's advantage is immediate cash-on-the-spot for gently used, trendy
teen/young adult apparel, offering a faster and cleaner experience than consignment.
Current Industry Overview:
Thrifting is an increasingly popular way to shop for teens and young adults (as well as more mature customers!). Retailers are trying to figure out how to compete against the thrifting world. The global secondhand apparel
market is experiencing unprecedented, high-speed growth, with projections showing it will continue to
significantly outpace the traditional retail clothing market by a factor of 3 to 5X over the next five years.

Reasons for selling:

Other interest

Trading hours:

M-Th 10-8 F,Sa 10-9, Su 11-6

Employees:
15
Years established:
2009

Franchise Information

Franchise opportunity:

Franchise Resale

Other Information

Support & training:

2 weeks

Financing available:

Owner Financing Interest
10%
Owner Financing Terms Months
360

Furniture / Fixtures value:
$87,000 - included in the asking price
Inventory / Stock value:
$100,000 - included in the asking price