Plato's Closet vs Clothes Mentor Franchise Comparison

Below is an in-depth analysis and side-by-side comparison of Plato's Closet vs Clothes Mentor including start-up costs and fees, business experience requirements, training & support and financing options.

Start-Up Costs and Fees

 
Plato's Closet Franchise
Clothes Mentor Franchise
Investment $251,700 - $390,700$193,000 - $310,000
Franchise Fee $25,000$20,000 - $25,000
Royalty Fee 5%4%
Advertising Fee $1K/yr.$2K/yr
Year Founded 19982001
Year Franchised 19992007
Term Of Agreement 10 years10 Years
Term Of Agreement 10 years10 Years
Renewal Fee 5000$10K


Business Experience Requirements

 
Plato's Closet Franchise
Clothes Mentor Franchise
Experience --

Financing Options

 
Plato's Closet Franchise
Clothes Mentor Franchise
  In-House/3rd PartyIn-House/3rd Party
Franchise Fees No/No-/-
Start-up Costs No/Yes-/-
Equipment No/Yes-/Yes
Inventory No/Yes-/Yes
Receivables No/No-/-
Payroll No/No-/-

Training & Support

 
Plato's Closet Franchise
Clothes Mentor Franchise
Training On-The-Job Training: 30 hours Classroom Training: 48 hours On-The-Job Training: 20 hours Classroom Training: 63 hours
Support Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection Proprietary Software Franchisee Intranet PlatformPurchasing Co-ops Newsletter Meetings/Conventions Toll-Free Line Grand Opening Online Support Security/Safety Procedures Field Operations Site Selection Proprietary Software Franchisee Intranet Platform
Marketing Co-op Advertising Ad Templates Regional Advertising Social media SEO Website development Email marketing Loyalty program/appCo-op Advertising Ad Templates National Media Regional Advertising Social media SEO Website development Email marketing Loyalty program/app
Operations Number of Employees Required to Run: 3 - 5 * 50% of all franchisees own more than one unit

* Number of employees needed to run franchised unit: 8

* Absentee ownership of franchise is NOT allowed. (100% of current franchisees are owner/operators)


Expansion Plans

 
Plato's Closet Franchise
Clothes Mentor Franchise
US Expansion YesYes
Canada Expansion Yes-
International Expansion No-

Company Overviews

About Plato's Closet

Thank you for your interest in becoming a member of the Plato's Closet franchise family. Plato's Closet offers a truly unique retail franchise opportunity, as it is the only national teen retail store of its kind -- focusing on the buying and selling of gently used, brand-name apparel and accessories for girls and guys! We already have over 200 store locations throughout North America, and that number continues to grow. Our stores fill a distinct niche in the retail marketplace. We are the only national resale business that specializes in the teen and twenty something market group. The wish list for trendy, brand-name apparel and the availability of it in virtually every teen's closet presents fantastic opportunities for both franchise owners and customers alike. Making the decision to be your own boss and be in control of your future is an exciting adventure, and we appreciate being considered in your business search. A Plato's Closet franchise offers franchisees a very unique opportunity, based on a sound business model and the support of the parent company, Winmark Corporation. To learn more about this exciting franchise business opportunity, simply navigate through these informational pages. If you wish to take the next step in changing your future, contact us and a Franchise Developer will contact you with the next steps in the process. Fill in form to the right for free consultation.

"Entrepreneur
#375 in Franchise 500 for 2020.
#335 in Franchise 500 for 2020.

About Clothes Mentor

Clothes Mentor is one of the fastest growing franchises in America!
 * Resale format means up to 60% profit margins
 * Franchise Support from our team of experts
 * Model has proven success in a variety of markets
 * Training to help first-time franchise owners
 * 32% of franchisees now own multiple stores
 * 33% of franchise owners see $100-368K net profit!
 * Clothes Mentor is one of the most lucrative franchise options in the market today.
Explore our Franchise section to see what it takes to start a Clothes Mentor franchise of your own!
Resale Clothing Franchises have proven effective, even in a down economy. Grab your piece of the resale clothing franchise market today by contacting our Franchise Development Experts!
Clothes Mentor is a resale clothing franchise. Our stores focus on buying and selling womens designer clothes, shoes, jewelry, and accessories. The Clothes Mentor clothing franchise is focused on the resale of designer and brand name clothing and accessories. To contact us about owning a Clothes Mentor Resale Clothing Franchise, please go to http://www.clothesmentor.com/franchise/

Veteran Incentives  $2,500 rebate on franchise fee