Top Performing Consignment Retail Franchise

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.

Employees

15

Real Estate

Lease

Trading Hours

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

Support & Training

2 weeks

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.

Franchise Opportunity

Franchise Resale

Inventory / Stock Value

$100,000 - included in the asking price

Reason for Selling

Other interest