How much does a Clothes Mentor franchise cost?
- Initial Franchise Fee: $25,000
- Total Investment: $244,000 to $362,500
- Working Capital: $30,000 to $40,000
- Royalty Fee: 4.0%
Full Answer
How much does a Clothes Mentor franchise make?
How many franchise locations do they have?
When did they begin franchising?
How do I open a clothing store mentor?
To buy a franchise with Clothes Mentor, you'll need to have at least $75,000 in liquid capital and a minimum net worth of $350,000. Franchisees can expect to make a total investment of $219,000 - $344,000.
How much money do you get from Clothes Mentor?
We price items at about 1/3 of the original retail price and will offer you roughly 25-30% of that amount.
Who owns Clothes Mentor?
Andrea Bryson -Andrea Bryson - Owner - Clothes Mentor | LinkedIn.
Is Clothes Mentor a chain?
At 146 stores in over 30 states, Clothes Mentor is the largest and most technologically advanced chain of Women's Fashions RESALE stores.
Which resale store pays the most?
The RealReal is the highest-paying consignment store. They pay their sellers 85% commission on sales of high-end watches priced at $2,495 or more. Designer handbags, men's sneakers, and high-ticket jewelry will net you an 80% commission payout.
Is selling to Plato's Closet worth it?
Plato's Closet sells clothes for 60% – 70% off retail prices, so in order to make a profit, they don't want to spend much to buy them. So, how much does Plato's Closet pay for clothes? Your cut is typically a third of what they could sell it for. They'll buy basic things like T-shirts for around $2.
How much does Clothes Mentor pay for designer purses?
We price items at about 1/3 of the original retail and then we will offer you roughly around 25-30% of that.
How many stores does Clothes Mentor have?
Find out if there is a Clothes Mentor women's resale shop near you by typing your location into the store locator right here on this page! We have over 120 stores nationwide and continue to grow each year.
When was clothes mentor founded?
1980About Clothes MentorFranchise Details:Founded:1980Corporate Office:1907 Wayzata Blvd - Suite 210 Wayzata, MN 55305Industries:Retail, Clothing
How much will thredUP pay?
According to their website, approximately 40% of your items will be accepted, and from that, you'll make 5%-80% of what an item sells for based on its listing price (this is for up-front payouts). For consignment items, you'll make 20%-95% of what an item sells for based on its listing price.
How do I use thredUP?
Order Your Clean Out Kit. Create an account or log in to thredUP. ... Pack Up Your Items. If you choose to get a shipping label emailed to you, you can start packing up your items right away. ... Send in Your Bag And Wait for Processing. ... Wait for Items To Go Through the Bidding Window. ... Monitor Your Items. ... Get Your Payout.
How much will thredUP pay?
According to their website, approximately 40% of your items will be accepted, and from that, you'll make 5%-80% of what an item sells for based on its listing price (this is for up-front payouts). For consignment items, you'll make 20%-95% of what an item sells for based on its listing price.
Does Clothes Mentor buy swimsuits?
No, we only buy women's clothing, shoes, handbags and accessories.
How do I use thredUP?
Order Your Clean Out Kit. Create an account or log in to thredUP. ... Pack Up Your Items. If you choose to get a shipping label emailed to you, you can start packing up your items right away. ... Send in Your Bag And Wait for Processing. ... Wait for Items To Go Through the Bidding Window. ... Monitor Your Items. ... Get Your Payout.
How much does a Clothes Mentor franchise make?
Franchise revenue depends on a wide range of factors, as does profit. How much money you can make from any franchise depends on a number of specific factors such as franchise location, labor costs, commercial lease rates and a number of other factors . Unlock this franchise for franchise-specific data and insight.
How many franchise locations do they have?
As of the 2020 Franchise Disclosure Document, there are 138 franchised Clothes Mentor locations in the USA.
When did they begin franchising?
They began franchising in 2006. The average Fashion franchise began franchising in 2010.
How much does a clothes mentor franchise cost?
The franchise fee for Clothes Mentor is $20,000. The total investment to open and operate a Clothes Mentor franchise ranges from $121,500 to $268,000. The Term of Agreement is 10 years, with a renewal fee of $10,000. A 4% royalty fee on gross receipts is paid to the company.
Who owns Clothes Mentor?
In 1991 she opened her first Once Upon A Child resale store in Columbus, and quickly opened a second in Toledo, Ohio. In 1992, the Blums began franchising Once Upon A Child stores. The company was purchased by Ronald G. Olson, president of Grow Biz International, who continued its growth, and eventually acquired Clothes Mentor as well.
What is clothing mentor?
Clothes Mentor franchisees benefit from a point of sale system designed specifically for resale that makes training new employees and managers a simple process. Also, the company’s franchise system removes the pressure from franchisees, because the company tracks trends and purchases what is showing to be ‘hot’ on the market, for franchise locations to resell. Clothes Mentor’s training program for franchisees shortens the learning curve and maximizes the margin for success. The company provides full support to franchisees from site selection and store layout to advertising, merchandising and throughout the life of the business.
SELL TO US
Bring your gently used fashions into Clothes Mentor, sell them for CASH on-the-spot, putting the money in your hands before you leave the store. We are looking for Women’s clothing sizes 0-26, shoes, accessories and handbags. Your closet will thank you for it, and you will pick up some new-found money.
SHOP WITH US
At our stores you can find like new designer clothing for up to 70% off mall store prices. By recycling and reusing current fashions we are creating a sustainable lifestyle that you will be proud to be a part of. There are thousands of more fabulous items awaiting your closet at a local Clothes Mentor store.
See why our customers love us!
My online purchase of Brahmin purse was exactly as advertised and at a great price! Highly recommend this store!
All the locations you love, all in one place
Our products are available online and at our local, independently owned Clothes Mentor stores. Our store teams do their best to accurately photograph, describe, and account for the unique inventory shown. Unfortunately we cannot guarantee availability.
Company Overview
Clothes Mentor is the flagship brand of NTY Franchise Co., which also franchises Children's Orchard. Clothes Mentor began franchising in 2007 and now has stores in 30 states. Clothes Mentor specializes in buying and selling like-new clothing, shoes and accessories for women.
More from Clothes Mentor
Clothes Mentor is so much more than retail. Our upscale resale concept serves fashionable women locally through a stylish store front and a national eCommerce website. Your community benefits from a “cash-on-the-spot” offer to buy gently used fashions in a convenient way.
Franchising Overview
This company is seeking new franchisees in the following US states: Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, District of Columbia, Delaware, Florida, Georgia, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, North Carolina, North Dakota, Nebraska, New Hampshire, New Jersey, New Mexico, Nevada, New York, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Vermont, Washington, Wisconsin, West Virginia, Wyoming.
Information for Franchisees
Here’s what you need to know if you’re interested in opening a Clothes Mentor franchise.
Financial Requirements & Ongoing Fees
Here’s what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.
Financing Options
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
How much does a Clothes Mentor franchise make?
Franchise revenue depends on a wide range of factors, as does profit. How much money you can make from any franchise depends on a number of specific factors such as franchise location, labor costs, commercial lease rates and a number of other factors . Unlock this franchise for franchise-specific data and insight.
How many franchise locations do they have?
As of the 2020 Franchise Disclosure Document, there are 138 franchised Clothes Mentor locations in the USA.
When did they begin franchising?
They began franchising in 2006. The average Fashion franchise began franchising in 2010.
