Clothes Mentor - Franchise
Clothes Mentor has completely reinvented women’s fashion resale stores. Our stores pay our customers CASH on-the-spot, right over the counter, to purchase their better brand, in-style fashions, accessories and designer purses. There are nearly 150 Clothes Mentor stores throughout the United States, each serving its local community by both buying and selling high-quality fashion clothing items. Some stores even provide a free personal shopper or host fun private events for customers such as Girls Night Out. But no matter which Clothes Mentor store you visit, you’ll always find superior merchandise and a friendly, professional staff that provides great customer service.
Requirements
Financial requirements for this franchise:
| Liquid Capital: | $75,000 What does Liquid Capital mean? |
|---|---|
| Net Worth: | $350,000 What does Net Worth mean? |
| Total Investment: | $219,000 - $344,000 What does Total Investment mean? |
Options
Options available to franchisees:
| Financing: | Via 3rd party |
|---|---|
| Training: | Available |
| Veteran Discount: | Yes - $5,000 discount off of franchise fee |
| Training & Support: | Pre-start up and Ongoing |
Franchisor Details
Facts about this franchise:
| Total Units: | 146 |
|---|---|
| Home Office: | Minnetonka, MN |
| Year Founded: | 2001 |
| Franchising Since: | 2007 |
What Does a Clothes Mentor Franchise Cost?
To buy a franchise with Clothes Mentor, you'll need to have at least liquid capital of $75,000 and a minimum net worth of $350,000. Franchisees can expect to make a total investment of $219,000 - $344,000. They also offer financing via 3rd party as well as a discount for veterans. *
Succeed With The Leading Women’s Fashion Resale Brand
Own a Clothes Mentor store of your own, and enjoy ultra-high gross profit margins selling gently-used women’s fashion apparel, shoes, accessories and designer purses.
- RESALE IS HOT! It’s more prevalent and accepted than ever.
- In just 10 years, Clothes Mentor has grown to 146 locations across 30 states.
- Utilizing the proven system tools & training, stores consistently realize about 60% Gross Profit Margin (GPM), considerably higher than traditional specialty retailers.
- This very high GPM allows you to scale up your business. You can afford staff and a store manager. Work “on your business” versus covering shifts “in your business”. Manage your staff while building your revenue using advertising/marketing tools provided by Clothes Mentor.
- Over 30% of Clothes Mentor owners have opened additional stores … further building wealth.
- Resale Industry growth is now 7%+ annually. Women’s Fashions Industry: $115 Billion annually.
- Ranked one of the “Fastest Growing Franchises” and in the top “Franchise 500” by Entrepreneur Magazine.
- Clothes Mentor owners contribute to a GREEN environment! Resale is the ultimate for repurposing!
- An affordable modern store design to really stand out, yet fit right in next to other national retailers = traffic and visibility.
- Proprietary, cloud-based Point-of-Sale System. This hardware/software solution offers you an industrial-strength tool to measure and manage your inventory, staff performance and cash flow efficiently. You can run reporting remotely and benchmark your store against others system-wide.
- Top 75% of stores range between $434k to as high as $1.7m in annual sales revenue.
- Top 50% of stores: Average Net Profit $126k.*
- Top 25% of stores: Average Net Profit $188k.*
*financial performance representations from Item #19 in Clothes Mentor’s 2017 Franchise Disclosure Document
What Are Clothes Mentor Owners Saying?
‘…high margins and high dollars to grow your business … And it’s fun!’ – Nancy, St. Louis MO
‘ …a relatively easy transition as a 1st time entrepreneur.’ – Bill & Sadie, (3 store owners) South Carolina
‘If I was 10 years younger I would have sold my other business and open more of these stores.’ – Paul, Novi, MI
‘I get to shop every day!’ – Alyssa & Shawn, (3 store owner) Charlotte, NC
‘The model is proven, and there’s 100 plus stores that do it every day.’ – Tobias, Newport News, VA
Hear from more Clothes Mentor store owners about prior careers, return on investment, the competition, the product, men owners, and more by completing the Request Information button.
What does all this mean for YOU?
- YOU are backed by an industry-leading franchise with intensive start-up training and ongoing advocacy.
- Your success is supported from site selection, financing assistance, exceptional operating system and superior ROI; the Clothes Mentor success model and over 25 years of franchise experience work for YOU!
- A proven, yet customizable, 4-step franchise award process ensures a mutual alignment that the Clothes Mentor brand is the right match for YOU.
- WIN/WIN!: a unique,quality experience for your loyal customers, and a superior investment for YOU.
Learn more in one phone call talking with a franchise expert than spending hours surfing the Internet. Let’s start a conversation today to understand if the Clothes Mentor brand is the right choice for YOU!
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Availability
Clothes Mentor is currently accepting inquiries from the following states:
Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, District Of Columbia, Delaware, Florida, Georgia, Hawaii, 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, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Vermont, Wisconsin, West Virginia, Wyoming
Interested parties should have at least $75,000 in liquid capital to invest.
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