Plato's Closet franchise
Plato's Closet buys gently used brand-name clothing, shoes and accessories from teens and young adults and resells it at a discount, adding some new accessories. Buying stock from customers keeps inventory costs low. It is one of Winmark's resale brands. At the end of 2025 there were 526 Plato's Closet locations in the US, all franchised.
- Cost to open
- $356K–$468K
- Franchise fee
- $25,000
- Royalty
- 5%
- Locations, 2025
- 526
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Company snapshot
- Franchising since
- 1999
- Franchisor based in
- Minneapolis, Minnesota
- Time to open
- About 9 to 12 months after signing
- Agreement length
- 10 years
- Territory
- Protected territory
- Financing
- None offered
From Winmark Corporation’s 2026 filing.
How much a Plato's Closet franchise costs
Opening one Plato's Closet store costs an estimated $355,700 to $467,900. That covers the franchise fee and everything else needed to open, through the first months of working capital.
Source: Winmark Corporation, 2026 filing, page 18
Plato's Closet franchise fee
The franchise fee is $25,000, for a single store ($15,000 for an additional store or for existing Winmark franchisees). You pay it when you sign the franchise agreement.
Source: Winmark Corporation, 2026 filing, page 12
Royalty and ongoing fees
| Royalty | A continuing fee of 5% of gross sales, paid weekly. |
|---|---|
| Brand or marketing fund | A $1,500 yearly marketing fee, plus local and co-op advertising bringing the total to at least 6% of gross sales. |
Source: Winmark Corporation, 2026 filing, page 13
Sales and earnings
Shares figures Plato's Closet publishes sales or earnings figures for its locations: it gives 2025 average annual sales and gross profit for 492 stores. The full tables, with notes on which locations are counted, are in its filing.
Source: Winmark Corporation, 2026 filing, page 43
Locations opened and closed
| Year | Franchised | Company-owned |
|---|---|---|
| 2023 | 506 (+6) | 0 |
| 2024 | 515 (+9) | 0 |
| 2025 | 526 (+11) | 0 |
Closed or left counts terminations, non-renewals, locations bought back by the franchisor and locations that stopped operating.
Source: Winmark Corporation, 2026 filing, page 46
How Plato's Closet compares
Of the 16 retail franchises on this site, Plato's Closet is the 12th cheapest to open and the 10th largest by number of locations.
| Measure | Plato's Closet | Typical retail |
|---|---|---|
| Cost to open, low end | $356K | $231K |
| Royalty | 5% | 5% |
| Change in franchised locations, 0 yrs | +5.2% | +7.2% |
| Shares earnings figures | Yes | 15 of 16 |
Typical is the median across the 16 brands in retail franchises.
Other retail franchises
Plato's Closet franchise questions
How long does it take to open a Plato's Closet?
About 9 to 12 months after signing, according to Plato's Closet's 2026 filing. Finding a site, permits and build-out are what usually stretch it.
Does Plato's Closet help with financing?
No. Plato's Closet does not offer financing or guarantee loans or leases, so buyers arrange their own, usually a bank or SBA loan.
Do Plato's Closet franchisees get a protected territory?
Yes. Plato's Closet assigns a protected territory where it won't open or license another location while you meet the agreement's terms.
How long is a Plato's Closet franchise agreement?
The initial term is 10 years. Renewal is usually possible if you're in good standing, often for a fee and a remodel.
How does Plato's Closet compare with other retail franchises?
Of the 16 retail franchises here, Plato's Closet is the 12th cheapest to open (low end $356K against a $231K median) and the 10th largest by number of locations. Its 5% royalty is in line with the 5% median.
Does Plato's Closet say how much franchisees make?
Yes: it gives 2025 average annual sales and gross profit for 492 stores. Your results can differ; the filing explains which locations are counted.
Where is Plato's Closet based?
Winmark Corporation is based in Minneapolis, Minnesota and the brand has sold franchises since 1999.