Clothes Mentor
Women's clothing, shoes, and accessories resale stores- 2023 Franchise 500 Rank
-
N/RNot ranked last year
- Initial investment
-
$250K - $364K
- Units as of 2022
-
123 8% over 3 years
Clothes Mentor began in 2001 with the mission of making a difference in the world by offering customers the opportunity to recycle and reuse fashionable clothing, shoes, and accessories.
Since franchising in 2007, Clothes Mentor has expanded its reach, with over 125 locations across the United States. It offers the upscale retail of designer and name brand clothes, handbags, and shoes at up to 70% off retail costs. At Clothes Mentor, customers get an increased value for their money with convenience.
In less than two decades, the Clothes Mentor brand has grown exponentially. As a company that knows the business' potential of resale, Clothes Mentor invites franchisees to fulfill unique goals. If you have a good fashion sense with business savvy, then this opportunity may be perfect for you.
Why You May Want to Start a Clothes Mentor Franchise
Clothes Mentor aims to deliver hot looks at competitive prices by buying and reselling brand name and designer pieces from customers. For shoppers, Clothes Mentor is one of the few places where they can find bargains on upscale clothing and accessories, while also contributing to sustainability.
Clothes Mentor is a well-known brand to Americans, offering its customers the ability to both buy and sell clothing and accessories from the company. As a significant player in thereseller clothingindustry, Clothes Mentor is concerned with helping customers reduce and refresh their closets while giving others more affordable access to fashionable and classic brands.
Customers walking into a Clothes Mentor store can get quality Chanel, Fendi, Nike, or Zara pieces at competitive prices. Clothes Mentor even offers customers cash-on-the-spot for the items purchased. The point-of-sale transaction system makes the brand a reliable partner. Franchising a Clothes Mentor can help individuals who want to open a clothing store take advantage of the resale boom. The brand is at the forefront of a shift to make fashion accessible to everyone.
What Might Make a Clothes Mentor Franchise a Good Choice?
Franchisees can prepare for a financial investment with the Clothes Mentor company. Initial costs will include a franchise fee, royalty fee, and an advertising fee. Franchisees also need to meet the company set liquid capital and net worth. The franchise term for a Clothes Mentor franchise is ten years and may be renewable if both parties are satisfied.
How Do You Open a Clothes Mentor Franchise?
After the initial inquiry, successful applicants will undergo assessment, franchise review, and training before joining the team at Clothes Mentor.
Some benefits of joining the Clothes Mentor team include support for business planning, three training programs for new franchisees, the point-of-sale system, and financial business consultant (FBC) help. The company offers extensive training, both in the classroom before opening your franchise and on the job. Eight employees are expected in order for you to be able to open a Clothes Mentor franchise. The company also has relationships with third-party sources that may help franchisees cover inventory, equipment, and startup costs.
At Clothes Mentor, franchisees can enjoy the benefits offered by a business model that is sure to provide customers with trendy and name-brand clothes.
Company Overview
About Clothes Mentor
More from Clothes Mentor
Clothes Mentor is a Perfect Fit.
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. Those amazing items are given a new life by connecting to shoppers seeking desirable brands at a great price.
Our most successful franchisees seek flexible lifestyles. They are individuals and couples seeking to gain wealth, freedom of time and enjoy giving back and being part of their communities.
Resale is predicted to grow eleven times faster than broader retail clothing by 2025 to more than $77 billion annually. The timing is right to join our community of 135 Clothes Mentor stores with desirable territories available.
Clothes Mentor is the perfect fit to give you flexibility and growth potential. Start building the future you want today.
Related Spotlight Article:Clothes Mentor Franchisees Tap into the Booming Resale Retail Experience
Business Overview
- Franchising Since
- 2007(16 years)
- #的employees at HQ
- 18
- Where seeking
-
本公司是提供新经销商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, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, Vermont, Washington, Wisconsin, West Virginia, Wyoming
- #的Units
- 123(as of 2022)
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.
- Initial Franchise Fee
- $25,000
- Initial Investment
- $250,000 - $363,500
- Net Worth Requirement
- $400,000
- Cash Requirement
- $90,000
- Veteran Incentives
- $2,500 rebate on franchise fee
- Royalty Fee
- 4%
- Ad Royalty Fee
- $2K/yr.
- Term of Agreement
- 10 years
- Is franchise term renewable?
- Yes
Financing Options
Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.
- Third Party Financing
- Clothes Mentor has relationships with third-party sources which offer financing to cover the following: startup costs, equipment, inventory
Training & Support Offered
Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.
- On-The-Job Training
- 20.5 hours
- Classroom Training
- 32 hours
- Ongoing Support
-
Purchasing Co-opsNewsletterMeetings & ConventionsToll-Free LineGrand OpeningSecurity & Safety ProceduresLease NegotiationField OperationsSite SelectionProprietary SoftwareFranchisee Intranet Platform
- Marketing Support
-
Co-op AdvertisingAd TemplatesNational MediaRegional AdvertisingSocial MediaSEOWebsite DevelopmentEmail MarketingLoyalty Program/App
Operations
Additional details about running this franchise.
- Is absentee ownership allowed?
- No
- Can this franchise be run from home/mobile unit?
- No
- Can this franchise be run part time?
- No
- #的employees required to run
- 8-10
- Are exclusive territories available?
- No
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Franchise 500 Ranking History
Compare where Clothes Mentor landed on this year’s Franchise 500 Ranking versus previous years.
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