Steps to Ownership?
The Plato's Closet® Process
As the biggest and most prominent retail-resale franchisor in North America, Winmark® knows what it takes to build a successful franchise business. Over the last three decades, we've learned that finding the right individuals to partner with and represent our brands is essential to marketplace success—no matter what territory they're in. That is why we've created a thorough and illuminating qualification process to get to know our franchisee candidates and give them the opportunity to get to know us.
Are you interested in becoming a Winmark franchisee candidate for your own Plato’s Closet store? Contact us today or call us at (866) 668-0681 for more information!
Qualifying Our Candidates
If you're interested in becoming a Winmark franchise candidate, then the first step is submitting the qualification form. This will cover basic information about yourself and where you'd like to open a Plato’s Closet location. After that form is submitted, our team will get back to you immediately to review your financial qualifications and to answer any initial questions you may have as we start the process.
The financial qualifications for our Plato's Closet franchisees include:
- Net Worth – $400,000
- Liquid assets (cash or stocks) of $75,000 to $105,000
If you do not have these assets, it does not necessarily disqualify you. Many of our franchisees take out loans to provide the required capital for their store or partner with family or friends to help them qualify. Because of Winmark's remarkable track record and industry reputation, our brands have a successful track record and history of getting funded by the banks and SBA.
Meet Our Franchisees & Discovery Day
After your finances have been confirmed, we'll help you coordinate meetings with current Plato’s Closet franchisees. You'll visit their stores, see how they operate and, most importantly, speak with them about their experience running the business.
After your visits are complete, you'll receive an invite to Discovery Day at our headquarters here in Minneapolis. Here, you'll meet with our Plato's Closet franchise team and learn what we do to support our franchisees and ensure they are always positioned for success. We'll also ask you questions about your background and aspirations—and you'll have the opportunity to interview us, as well, and learn about Winmark and our brands.
Joining Our Team!
After both you and Winmark have decided to move forward with this franchise opportunity, you officially become a member of the Plato's Closet team! We'll get the franchise agreement sent to you promptly and enroll you in our training program. This whole process will take several months before we get to the actual opening of your store but, in that window, you will receive the instruction and tools you need to make your Plato's Closet location a success.