Resale Retail Franchises Thrive as Consumer Demand Remains Strong
Teen Resale Franchise, Plato’s Closet, Ranked on Forbes’ Elite Best Franchise List for the Second Year in a Row
August 05, 2015 // Franchising.com // MINNEAPOLIS – Driven by parents and millennials seeking a good bargain, Winmark Corporation®, the national leader in retail resale franchises, is continuing to experience solid growth. Parent company to five, diverse niche concepts - Music Go Round®, Once Upon A Child®, Plato’s Closet®, Play It Again Sports® and Style Encore® - the company is thriving from the rising trend of consumers seeking high-quality, gently used merchandise.
With more than 430 units currently operating, the brand’s popular teen and young adult resale concept, Plato’s Closet, has been the key driver in cementing Winmark as the leading franchisor in the retail resale space. Proof of this is Plato’s Closet’s second annual ranking among the top five franchises on Forbes Magazine’s list of best franchise investments in America with entry costs of $150,001 - $500,000.
Following in its sister brand’s footsteps, Once Upon A Child, which specializes in merchandise for infants to pre-teens, surpassed the 300 store milestone late last year and continues to outpace the competition in both number of stores and average store sales volume. Further, Style Encore, Winmark Corporation’s emerging resale brand focusing on women, has already exceeded 30 stores within its first two years of operation with 35 more in development.
“While the economy has improved, consumer demand for affordable, high-quality goods remain strong,” stated Steve Murphy, President of Franchising for Winmark Corporation. “Interest in our various franchise opportunities remains high with perspective entrepreneurs who are seeking an alternative from the corporate world or are in a career transition, as well as parents looking to break back into the workforce. Additionally, existing owners continue to develop the brand by opening multiple Winmark concepts - creating tremendous job growth and career opportunities for the people in their respective communities.”
Winmark Corporation is building on its current success by continuing expansion of its retail brands with franchise partners across the United States and Canada - with specific growth opportunities in the mid-Atlantic region, California, New England area and Ontario as well as the western provinces in Canada. Already, the company has 1,116 units total currently operating with 108 in the development pipeline.
Winmark Corporation has supported unique retail franchise businesses since 1988 and is committed to its franchisees’ success. The company provides owners extensive training and support including: business planning and site selection assistance; store design and layout; inventory management; proprietary computer systems; franchise-specific product, style and trend training; ongoing small business consultation support from regional field operations staff and professional marketing and merchandising materials, among other benefits.
Visit www.winmarkrfranchises.com for more information on each of the franchise opportunities. Full results of the Forbes “Best and Worst Franchises to Buy” list can be found at http://www.forbes.com/best-worst-franchises-to-buy/.
About Plato’s Closet®
Plato’s Closet® leads the nation in the buying and selling of name brand, gently used apparel and accessories for teens and twenty-something girls and guys. With more than 430 franchised stores in the United States and Canada, the retailer focuses on the latest styles and hottest brands, all in great condition. Plato’s Closet is franchised by Winmark Corporation, which also franchises Play It Again Sports®, Once Upon a Child®, Style Encore®, and Music Go Round®. For more information visit www.platoscloset.com.
About Winmark Corporation
Winmark Corporation, based in Minneapolis, creates, supports and finances business. Specializing in leasing and developing franchises for retail stores that buy, sell, and trade new and used merchandise, it is the parent company of Plato’s Closet®, Once Upon A Child®, Play It Again Sports®, Music Go Round®, Style Encore®, Wirth Business Credit®, Winmark Capital® and www.WBSOnline.com. As of June 27, 2015, there were 1,116 franchises in operation under the company’s retail brands, as well as an additional 108 retail franchises that have been awarded but are not open. For more information visit www.winmarkcorporation.com.
SOURCE Plato’s Closet®