Plato’s Closet FDD Summary
Type of Business
The franchisee will own and operate a Plato’s Closet® retail store from which the franchisee will sell quality used and new brand name teen and young adult clothing and accessories.
Winmark Corporation was incorporated under the laws of the State of Minnesota on July 20, 1988 under the name “Play it Again Sports Franchise Corporation.” In July 1993, Winmark’s corporate name was changed from “Play it Again Sports Franchise Corporation” to “Grow Biz International, Inc.” In November 2001, their corporate name was changed from “Grow Biz International, Inc.” to “Winmark Corporation.” Winmark’s principal business address is 605 Highway 169 N , Suite 400, Minneapolis, Minnesota 55441. Winmark conducts business under the name Plato’s Closet®. Winmark also conducts business in 4 other separate lines of businesses under the names Play It Again Sports®, Music Go Round®, Once Upon A Child® and Style Encore®.
The total investment necessary to begin operation of a Plato’s Closet® store is from $233,350 to $387,900. This includes $44,800 to $47,222 which must be paid to the franchisor.