Cash Converters vs Plato's Closet Franchise Comparison

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

Start-Up Costs and Fees

 
Cash Converters Franchise
Plato's Closet Franchise
Investment $160,000 - $300,000$251,700 - $390,700
Franchise Fee $50,000$25,000
Royalty Fee -5%
Advertising Fee -$1K/yr.
Year Founded 19951998
Year Franchised -1999
Term Of Agreement -10 years
Term Of Agreement -10 years
Renewal Fee -5000


Business Experience Requirements

 
Cash Converters Franchise
Plato's Closet Franchise
Experience --

Financing Options

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

Training & Support

 
Cash Converters Franchise
Plato's Closet Franchise
Training -On-The-Job Training: 30 hours Classroom Training: 48 hours
Support -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/app
Operations -Number of Employees Required to Run: 3 - 5

Expansion Plans

 
Cash Converters Franchise
Plato's Closet Franchise
US Expansion -Yes
Canada Expansion NoYes
International Expansion NoNo

Company Overviews

About Cash Converters

Cash Converters is a unique and exciting international retail concept. What began in Perth Australia in 1984 is today a dynamic international franchise group with over 500 stores worldwide. Cash Converters specializes in the buying and selling of quality second-hand goods - jewelry, TVs, stereos, tools, electrical goods, etc. Bright, well-merchandised stores with trained, uniformed staff service the customers who receive cash for their goods when they sell and a 30-day warranty on products when they buy. People have been trading goods for hundreds and hundreds of years. The primal instinct to exchange one thing for something else probably pre-dates written history. It's an instinct that drives bargain hunters to garage sales and auction lovers to on-line sites.
The desire to strike a deal, to barter or to think you have obtained something for virtually nothing is the reason Cash Converters came into existence.

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.

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