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? Call us at (866) 595-0053 today 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
  • Cash or liquid assets of at least $90,000

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.

Ready to start this process? Fill out our qualification form today! Our franchise team is looking forward to hearing from you.

Investment Information
People Love Buying and Reselling Used Items...Everyday!
  • 1 Sales & Gross Margin

    Average Store Gross Sales: $1,002,046*

    Average Gross Profit: $479,668*

    Top Quartile Average Gross Sales: $1,643,581*

    Top Quartile Average Gross Profit: $789,067*

  • 2 Core Customers

    Males age 18-44

    Beginner musicians, hobbyists and professionals

    Middle to upper income households, Active Music Scene

  • 3 Product Mix

    78% Used

    19% New

    3% Other

    Product Selection: Guitars, Percussion, Band Instruments, Keyboards/MIDI, Pro Sound, Accessories

  • 4 Real Estate

    Suburban or Urban “uptown” areas, Power strip or regional mall centers

    2,800 – 3,200 square feet

*The Average Store numbers are the 2017 Average Gross Sales and Average Gross Profit amounts stated in Item 19 of the 2018 Music Go Round® Franchise Disclosure Document (as reported by the 32 stores that had been in operation at least one year as of December 30, 2017). Of the 32 reporting stores, 14 or 44% of the stores attained or exceeded the Average Gross Sales and Average Gross Profit. The Top Quartile Average Gross Sales and Average Gross Profit only relates to 8 of the reporting Music Go Round® Stores who ranked in the top 25% of the gross sales range. Of the 8 reporting stores in the top quartile, 4 or 50% of the stores attained or exceeded the top quartile Average Gross Sales and Average Gross Profit. A new franchisee’s results will likely differ from these results.

Franchisee Testimonials

Be a part of a franchise that believes in changing lives, families, and communities.

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Awards &
Accolades

When you have proven success, such as Winmark Corporation, people start to take notice.

Meet Our Team
  • Forbes Best Small Companies
  • Franchise Times Top 200
  • IFA Franchising Member
  • CFA Member
  • Franchise 500 2017
  • Franchise 500 #1 in Category 2018

Contact Us Today to Receive Your Free Franchise Report!

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