|
Below is an in-depth analysis and side-by-side comparison of Plato's Closet vs Beat The Bookstore including start-up costs and fees, business experience requirements, training & support and financing options.
Start-Up Costs and Fees |
||
Investment | $251,700 - $390,700 | $138,850 - $348,050 |
Franchise Fee | $25,000 | N/A |
Royalty Fee | 5% | - |
Advertising Fee | $1K/yr. | - |
Year Founded | 1998 | - |
Year Franchised | 1999 | - |
Term Of Agreement | 10 years | - |
Term Of Agreement | 10 years | - |
Renewal Fee | 5000 | - |
Business Experience Requirements |
||
Experience | - | - |
Financing Options |
||
In-House/3rd Party | In-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 |
||
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 |
||
US Expansion | Yes | - |
Canada Expansion | Yes | - |
International Expansion | No | - |
When our first store opened, it created a wild excitement amongst
students as they flooded our store. They sold their used books to us and
bought new ones and on their way out, they took plenty of our business
cards and distributed around the campus.
Professors went ahead to inform students about our cheap book sales,
parking shuttle drivers did their bit over the PA system, the campus
help desk directed the students to us and passed out our business cards.
Even the employees of the campus bookstore came in to buy from us and
sell their textbooks as well.